The Chinese economy has been hit by a perfect storm. In the third quarter of the ongoing financial year, official Chinese data revealed that GDP growth stood at 4.9 percent, down from 7.9 percent in the previous quarter. This decline in GDP growth is directly eating into profits of big Chinese companies.
Rising prices and low consumer spending create a perfect storm in the Chinese economy:
There are two broad factors that are affecting business earnings in China-raw material inflation and low consumer spending.
Microsoft is launching a new AI language tool for business users. The Azure OpenAI Service will give vetted customers access to OpenAI’s GPT-3 — a powerful and problematic AI language model.
DeepMind is mostly known for its work in deep reinforcement learning, especially in mastering complicated games and predicting protein structures. Now, it is taking its next step in robotics research.
According to a blog post on DeepMind’s website, the company has acquired the rigid-body physics simulator MuJoCo and has made it freely available to the research community. MuJoCo is now one of several open-source platforms for training artificial intelligence agents used in robotics applications. Its free availability will have a positive impact on the work of scientists who are struggling with the costs of robotics research. It can also be an important factor for DeepMind’s future, both as a science lab seeking artificial general intelligence and as a business unit of one of the largest tech companies in the world.
Simulation platforms are a big deal in robotics. Training and testing robots in the real world is expensive and slow. Simulated environments, on the other hand, allow researchers to train multiple AI agents in parallel and at speeds that are much faster than real life. Today, most robotics research teams carry out the bulk of training their AI models in simulated environments. The trained models are then tested and further fine-tuned on real physical robots.
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EVE Online is a massively multiplayer online game that is probably best known for articles about massive space battles with tens of thousands of players, or stories about in-game con men screwing over their allies after years of friendship. BUT! EVE online is interesting for a bigger reason though that is often overlooked, and that is its amazingly realistic economy. In this video, we explore one of the player nation-states and see how crazy realistic the economy of a video game about spaceships can be.
This is not sponsored by the Imperium, EVE online, or its developer, CCP games (but they are more than welcome to send me a cheque!).
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This company’s entry in the US; market; along with other aluminum giants is said to have caused the shutdown of a large number of Aluminum manufacturers based in the US. It seemed that local US companies were unable to compete with state backed companies which were taking advantage of the free trade agreement.
However, the trade tariffs along with recent events have in turn caused this firm to become insolvent. It’s founder is now being detained by the US under fraud charges.
China Zhongwang Holdings Limited is known as the “King of Aluminum in Asia. On October 15th, China Zhongwang suddenly announced its subsidiaries “had suffered significant losses and operational difficulties. Despite efforts from various parties, they are unable to solve the current problems on their own.” The two subsidiaries mentioned are the primary companies of the corporate business. The debt crisis of Chinese companies is spreading, which can bring about a serious financial crisis in China. For example, China’s big business conglomerate, Baoneng Group, has experienced increasing strain on its capital chain. Currently, it has defaulted on at least nine items of trusts, involving a total of about $3.1 billion US dollars. Moreover, it has seen a rising risk factor for its subsidiaries, with frequent news about equity pledges, property freezes, and legal proceedings.
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Across all sectors, organizations are grappling with rapid transformation. On top of that, there are enormous global shifts and challenges to contend with, such as climate change, and shifting political and economic power. To put it bluntly, our world is changing fast. And organizations must learn to adapt accordingly.
These eight major trends provide a snapshot of how business operations are evolving to suit our rapidly changing world.
This rolling sheet of solar panels may not look like much, but it could help spark a solar power revolution in the railroad industry.
The creators of the solar-powered locomotive of the future were aiming to set a Guinness record for speed last weekend, and that is more than just your ordinary attention-getting stunt. Demonstrating the functionality of PV panels on rail cars could help set the stage for solar power to knock diesel fuel out of the railroad business. No word yet on the official results, but solar is beginning to wiggle its way into a field dominated by fossil fuel.
The Solar Train Of The Future Hits The Tracks, With Only Solar Power
When people say “solar train,” they usually mean a battery-powered train charged by solar panels parked in a solar farm, such as the UK’s Riding Sunbeams project. In other words, the solar power is there, but it is not actually along for the ride.
The new world of work is also about a new kind of teamwork: humans and AI working together to achieve more than they can accomplish on their own. Regardless of its recent progress, AI is still not accurate enough to meet the enterprise-level requirements of speech-to-text in many industries. “If technology gives me 90% accuracy, humans can deal with the last mile. Human-in-the-loop is core to our product,” explains Livne. In addition to developing the required technology, Ver… See more.
Verbit is a very successful startup. The 4-year-old developer of an AI-powered transcription and captioning platform has reached unicorn status in June, raising $157 million at a valuation of over $1 billion, for a total of $319 million raised to date. It has 2,600 customers, 450 employees, and will reach $100 million in revenues by the end of the year. According to co-founder and CEO Tom Livne, Veribit enjoys Net Revenue Retention (the rate of revenue generation from existing customers) of 163%. “Our customers are growing with us,” says Livne.
This impressive performance is the result of executing on a well thought-out framework for what it will take to succeed in the future, no matter what business you are in and the market you are serving. Verbit’s technology foundation, its global community of freelancers, and its mass customization strategy are the three features of Verbit’s future of work model, the very model of a 21 st century company.
