Like crafty genies, AIs will grant our wishes, and then hack them, exploiting our social, political, and economic systems like never before.
Category: economics
AI systems can lead to race or gender discrimination.
The US Federal Trade Commission has warned companies against using biased artificial intelligence, saying they may break consumer protection laws. A new blog post notes that AI tools can reflect “troubling” racial and gender biases. If those tools are applied in areas like housing or employment, falsely advertised as unbiased, or trained on data that is gathered deceptively, the agency says it could intervene.
“In a rush to embrace new technology, be careful not to overpromise what your algorithm can deliver,” writes FTC attorney Elisa Jillson — particularly when promising decisions that don’t reflect racial or gender bias. “The result may be deception, discrimination — and an FTC law enforcement action.”
As Protocol points out, FTC chair Rebecca Slaughter recently called algorithm-based bias “an economic justice issue.” Slaughter and Jillson both mention that companies could be prosecuted under the Equal Credit Opportunity Act or the Fair Credit Reporting Act for biased and unfair AI-powered decisions, and unfair and deceptive practices could also fall under Section 5 of the FTC Act.
Making Kazakhstan Green Again — Mr. Arman Kashkinbekov, Honorary CEO and Board Member, Association of Renewable Energy of Kazakhstan — Director, International Snow Leopard Foundation.
Mr. Arman Kashkinbekov, is the honorary CEO and board member, Association of Renewable Energy of Kazakhstan and Deputy Chairman of the Board, International Centre for Green Technologies and Investment Projects (Kazakhstan).
With a bachelor’s degree from Karaganda University, in International Economic Relations, and a master’s degree in economics from Vanderbilt University, Mr. Kashkinbekov also studied at the Norwegian Petroleum Directorate and the Kazakhstan-Japan Development Center.
Mr. Kashkinbekov has broad experience in the oil & gas and mining industries, including roles as senior manager at NC KazMunayGas, deputy country manager at ConocoPhillips, executive director at KazEnergy, general manager at Rolls-Royce Energy, and deputy CEO at ArcelorMittal Temirtau.
Mr. Kashkinbekov also worked as president of KazInvest, head of international affairs at the Sovereign Wealth Fund, Samruk-Kazyna, adviser to chairman of the board at NC KazAutoZhol, and director of the foreign Investor’s Council chaired by the President of Kazakhstan.
In addition Mr. Kashkinbekov is a graduate of the educational program of the President of the Republic of Kazakhstan “Bolashak”, a co-founder of the “Bolashak” Association and an honorary member of its Council.
Mr. Kashkinbekov also serves as Director of the International Snow Leopard Foundation.
Total semiconductor shipments including shipments of ICs as well as optoelectronics, sensor/actuator and discrete (O-S-D) devices are forecast to rise 13% to a record high of 1.135 trillion units in 2021, according to IC Insights. It would mark the third time that semiconductor units have surpassed one trillion units in a calendar year — the first time being in 2018.
The 13% increase follows a 3% increase in 2020 as the COVID-19 pandemic was wreaking havoc across many segments of the economy, IC Insights indicated. From 1978, when 32.6 billion units were shipped, through 2021, the compound annual growth rate (CAGR) for semiconductor units is forecast to be 8.6%. The strong CAGR also demonstrates that new market drivers continue to emerge that fuel demand for more semiconductors.
Between 2004 and 2007, semiconductor shipments broke through the 400-, 500-, and 600-billion unit levels before the global financial meltdown led to a steep decline in semiconductor shipments in 2008 and 2009. Unit growth rebounded sharply in 2010 with a 25% increase and surpassed 700 billion devices that year. Another strong increase in 2017 (12% growth) lifted semiconductor unit shipments beyond the 900-billion level before the one-trillion mark was surpassed in 2018, IC Insights said.
I found your rocket … Kyle Foreman, a spokesman for the sheriff’s office, told GeekWire that the property owner left a message reporting the debris. “The sheriff’s office checked it out on Monday, and SpaceX staff came over on Tuesday and retrieved it,” Foreman said. SpaceX has yet to detail precisely what went wrong with the Falcon 9 rocket’s second stage, such that it failed to de-orbit in a controlled manner over the ocean. Fortunately, no one on the ground was injured. (submitted by Ken the Bin)
Brazilian launch site stirs controversy. The Brazilian government is committed to further developing the Alc ntara Launch Center on the country’s north Atlantic coast, near the equator. However, the region is also home to Afro-Brazilian residents of settlements first established by escaped slaves. These settlements are known as Quilombola communities. The Washington Post recently did a deep dive into the controversy, examining how eviction of these communities would affect local residents. The newspaper found that the spaceport expansion could displace nearly 2100 people from Quilombola communities.
Brazil’s polarizing dilemma … Marcos Pontes, head of the Brazilian Ministry of Science, Technology and Innovation, said there are no plans to relocate families “right now.” And if the time comes to remove people, he predicted, they will go willingly. “They are going to see development coming in, real development,” he said. “All of the resistance, that is going to be gradually disappearing.” This seems unlikely. The clash is the distillation of one of Brazil’s most urgent and polarizing dramas, the publication says. What is more important: developing a vast country with unrealized potential and a lagging economy? Or protecting some of its most vulnerable communities?
In a recent paper, Bell argues that the principles of Mario Kart—especially the parts of it that make it so addictive and fun for players—can serve as a helpful guide to create more equitable social and economic programs that would better serve farmers in low-resource, rural regions of the developing world. That’s because, even when you’re doing horribly in Mario Kart—flying off the side of Rainbow Road, for example—the game is designed to keep you in the race.
“Farming is an awful thing to have to do if you don’t want to be a farmer,” Bell says. “You have to be an entrepreneur, you have to be an agronomist, put in a bunch of labor…and in so many parts of the world people are farmers because their parents are farmers and those are the assets and options they had.” This is a common story that Bell has come across many times during research trips to Pakistan, Bangladesh, Cambodia, Malawi, and other countries in southern Africa, and is what largely inspired him to focus his research on policies that could aid in development.
In his new paper, Bell argues that policies that directly provide assistance to farmers in the world’s poorest developing regions could help reduce poverty overall, while increasing sustainable and environmentally friendly practices. Bell says the idea is a lot like the way that Mario Kart gives players falling behind in the race the best power-ups, designed to bump them towards the front of the pack and keep them in the race. Meanwhile, faster players in the front don’t get these same boosts, and instead typically get weaker powers, such as banana peels to trip up a racer behind them or an ink splat to disrupt the other players’ screens. This boosting principle is called “rubber banding,” and it’s what keeps the game fun and interesting, Bell says, since there is always a chance for you to get ahead.
The launch of the first prototype of the new form of Russia’s national currency, the digital ruble, could be just several months away, the head of the State Duma Committee on the Financial Market, Anatoly Aksakov, has told RT.
“The digital ruble is currently the highest form of money,” the official said in an interview to RT. He said that the central bank is set to publish the roadmap for development of the digital currency soon and its prototype should be ready by autumn.
“The tests of this form of money may start at the end of 2021 or at the beginning of 2022,” he went on, adding that the digital currency may be used for domestic transactions in two to three years.
Intel Corp Chief Executive Officer Pat Gelsinger will virtually attend a meeting being put together by President Joe Biden’s administration for April 12 to discuss the semiconductor supply chain issues disrupting U.S. automotive factories, according to a person familiar with the matter. Reuters previously reported the meeting will include Biden’s national security adviser, Jake Sullivan, and a top economic aide, Brian Deese, as well as chipmakers and automakers. Gelsinger last month said Intel will spend $20 billion to build two new chip factories in Arizona.
“Last year’s stimulus was about keeping the economy going, but these companies didn’t use these resources to retain their workers. These are companies that are polluting the environment, increasing the deadliness of the pandemic and letting go of their workers.”
Figures show 77 companies received $8.2bn under tax changes related to Covid relief and yet almost every one let workers go.
But whenever companies experiment with a new technology that has the potential to transform entire business models, like electricity, it can take decades before changes yield real-world results, Mr. Brynjolfsson said, speaking on Wednesday at The Wall Street Journal Pro AI Executive Forum. The Digital Economy Lab is part of Stanford University’s Institute for Human-Centered AI.
Companies leading the charge in adopting AI tools and platforms are taking time to target spending in the right digital capabilities and talent, he said.
“We’re having a few superstars doing really well,” Mr. Brynjolfsson said. “But the whole reason it takes so long in the first place is that it’s not easy.” He expects to see a “productivity J-curve” as companies figure out how best to deploy AI in their daily operations.