The size of an economy is measured by GDP (Gross Domestic Product). GDP is calculated by adding up the value of all goods and services produced within a country's borders in a given year. This includes the value of goods and services produced by both the government and the private sector. GDP is typically measured in monetary terms, using current market prices for goods and services. GDP is used as a measure of the size and strength of an economy, as well as its overall level of economic activity.

Essentials | 22.05.2022 | weekly digest highlighting the top articles about: - Why Artificial Intelligence Creates an Unprecedented Era of Opportunity in the Near Future. - Digital resilience: Building the economies of tomorrow on a foundation of cybersecurity. - U.S. Needs New 'Manhattan Project' to Avoid Cyber Catastrophe | Opinion. - Ransomware is already out of control. AI-powered ransomware could be 'terrifying.'. - Cybersecurity Vulnerabilities Need Addressing. - How to use responsible AI to manage risk.

Take the challenge of demographic shifts. A.I., in conjunction with hybrid cloud, is helping many companies automate certain routine business activities, and move people to higher-value work. In manufacturing, a factory floor operator can now rely on A.I. to detect defects that are invisible to the human eye. In health care, A.I.-enabled virtual agents can handle millions of calls at once. In the energy sector, autonomous robots can use cloud and A.I. to analyze data at the edge to improve equipment uptime and prevent power outages.

Relating a quip by Soviet economist Nikolai Fedorenko, Yuri Maltsev illustrated the problem with socialism in his foreword to Ludwig von Mises's Economic Calculation in the Socialist Commonwealth. Shvets writes, "modern AI is able to manipulate an unheard of amount of information, and hence, arguably it might steer investments in a more productive way than has ever been possible by Adam Smith's invisible hand." Baby boomer parents have created kids who are dependent, used to winning "prizes for losers." Shvets believes this era is more toxic than smoking, with loneliness, increased suicides, declining literacy, digital addictions, and impaired analytical capacity. Society will achieve such a high level of productivity "it will liberate humans from the need to toil in order to survive, and by that stage it is likely that alternative avenues of personal satisfaction will also emerge."

Cyber attacks and threats are considered major disruptors to businesses, nations and consumers alike. Artificial intelligence is seen as a major disruptive force too, but of the positive kind, fuelling a new era of hyper connectivity, hyper intelligence and hyper performance. An increasingly complex business environment is leading organisations to embrace forms of artificial intelligence such as machine learning and facial recognition technology, while using data to build more intimate relationships with consumers. But the flip side of these innovations is that the'attack surfaces' of an organisation are multiplying, creating a fast-growing world of vulnerability to cyber crime that didn't exist before. At the same time, AI use is on the rise among cyber criminals, who are using it to help drive attacks, employing the technology to uncover unsecured points of entry in enterprise networks.

Funk Turkey is a pseudonym and stage name of Arkansas parody/comedy musician and producer Kirt Connor. The YouTuber recently used artificial intelligence to create a new "Metallica" and "Nirvana" songs, which we recently shared here on Dread Central. If you missed them, check it out "Deliverance Rides" and "Smother" by following the links below. Artificial Intelligence Creates "Metallica Song" That's Pretty Hilarious Artificial Intelligence Creates "Nirvana Song" That's Pretty On Point Funk Turkey's latest A.I.-scribed ditty is in the style of Iron Maiden. "Power Gravy" is really… something!

Digitization has been as revolutionary for industry as the introduction of electricity. Now artificial intelligence (AI) and big data are generating new opportunities – and a number of challenges. In the "Artificial Intelligence in Europe" report published by consultancy firm EY, some 57 percent of the companies surveyed expect AI to have a significant or very significant impact on business areas that are "entirely unknown to the company today," and 65 percent expect AI to have a significant or very significant impact on their core business. "The opportunities generated by digitization in general are game changers in most sectors, which is one reason why digital solutions have gained a strong foothold in different parts of society," says researcher Daniel Langkilde, who develops AI solutions for Scania, Volvo and other major companies. Digitization lays the foundation for entirely new business models, sometimes simultaneously throwing out the old models.

In October last year, for example, AI-generated art hit the headlines when auction house Christie's New York sold an AI-created artwork for $432,000. AI is also being used in music production, with a new industry being built around the use of AI in music. The musician Taryn Southern has used an artificial intelligence platform called Amper to create an entire album, called I AM AI. The album was the first LP to be entirely composed and produced using AI. A patented AI system called "DABUS", created by Dr Stephen Thaler, can devise and develop new ideas.

An AI has been studying the cookbooks and has taught itself how to make intriguing new pie recipes -- including Scotch egg pies and one with a salad filling. Working with a Sussex-based pie makers, the algorithm has produced thousands of recipes, five of which have been selected for production and will be going on sale. The AI works by looking for patterns in existing recipes and then trying to make its own based on what it learnt. While some of the early recipes it proposed were perhaps less-than-mouth-watering, with a little guidance it soon got the hang of cooking up new pie concepts. The experiment illustrates how artificial intelligence can provide new insights for small businesses and help dream up novel products to take to market.

Headquartered in Silicon Valley with offices in Shanghai and Hangzhou in China, R2.ai Inc. is growing rapidly. We sat down with the company's Founder and CEO to talk about AI that creates AI, and how automation is going to affect jobs in the future. Originally a chemist, Yiwen Huang, PhD, ended up working in Artificial Intelligence (AI) and Machine Learning (ML) 23 years ago when doing research using AI to identify molecular structures in chemicals. "I found the world of machine learning and computing so fascinating that I decided to switch into computer science. Since then, I've worked for 20 years in this space with data and data management, machine learning, and enterprise software development," he tells Interesting Engineering.