Lifeboat Foundation: Safeguarding Humanity
Toggle light / dark theme

Blog

Category: finance

Critical infrastructure, entertainment, finance, healthcare, telecoms, among recent targets of the Lazarus Group, aka Hidden Cobra.

On the eve of a historic summit with its rival neighbor South Korea and possible subsequent talks with the US President Donald Trump in the coming weeks, North Korea continues full-steam ahead in its mission to gather intelligence and generate income for the regime via its notorious nation-state hacking machine.

North Korea’s pervasive Lazarus Group, aka Hidden Cobra, was recently discovered ramping up a global cyber espionage campaign dubbed Operation GhostSecret, stealing information from organizations in the critical infrastructure, entertainment, finance, healthcare, and telecommunications sectors. Researchers from McAfee unearthed the wave of attacks, which they say first started with targeted hacks of banks in Turkey last month.

Read more

Will they teach humanities?

Some experts have suggested that autonomous systems will replace us in jobs for which humans are unsuited anyway — those that are dull, dirty, and dangerous. That’s already happening. Robots clean nuclear disaster sites and work construction jobs. Desk jobs aren’t immune to the robot takeover, however — machines are replacing finance experts, outperforming doctors, and competing with advertising masterminds.

The unique demands placed on primary and secondary school teachers make this position different from many other jobs at risk of automation. Students all learn differently, and a good teacher must attempt to deliver lessons in a way that resonates with every child in the classroom. Some students may have behavioral or psychological problems that inhibit or complicate that process. Others may have parents who are too involved, or not involved enough, in their education. Effective teachers must be able to navigate these many hurdles while satisfying often-changing curriculum requirements.

In short, the job demands that teachers have nearly superhuman levels of empathy, grit, and organization. Creating robotic teachers that can meet all these demands might be challenging, but in the end, could these AI-enhanced entities solve our most pervasive and systemic issues in education?

Read more

The Bill and Melinda Gates Foundation have the Level One project to use Digital financial services (including blockchain for identification) for financial services for the world’s poor.

Digital financial services (DFS) are among the quickest and most effective ways of turning millions of unbanked citizens into formal financial customers. For the first time in history, digital and mobile technology make full financial inclusion not only possible but profitable.

At the heart of the Level One Project Guide is a national system, enabled by shared, open, standards-based components. The system is designed to accommodate variability in local rules, structures, and the existing regulatory framework. The system either provides or contracts for core shared operating components including the interoperability service for transfers (IST) and the fraud and risk management service (FRMS). Structured as a cost-recovery or not-for-profit model, the by-laws and operating rules for IST and FRMS commit to providing low-cost payments capabilities that can support the needs of the poor.

Read more

Before I started working on real-world robots, I wrote about their fictional and historical ancestors. This isn’t so far removed from what I do now. In factories, labs, and of course science fiction, imaginary robots keep fueling our imagination about artificial humans and autonomous machines.

Real-world robots remain surprisingly dysfunctional, although they are steadily infiltrating urban areas across the globe. This fourth industrial revolution driven by robots is shaping urban spaces and urban life in response to opportunities and challenges in economic, social, political, and healthcare domains. Our cities are becoming too big for humans to manage.

Good city governance enables and maintains smooth flow of things, data, and people. These include public services, traffic, and delivery services. Long queues in hospitals and banks imply poor management. Traffic congestion demonstrates that roads and traffic systems are inadequate. Goods that we increasingly order online don’t arrive fast enough. And the WiFi often fails our 24/7 digital needs. In sum, urban life, characterized by environmental pollution, speedy life, traffic congestion, connectivity and increased consumption, needs robotic solutions—or so we are led to believe.

Read more

New strategic investments from Boeing and Rolls-Royce, additional investment from BAE Systems

– Financial investments from Baillie Gifford Asset Management and Woodford Investment Management

12 April 2018 – Reaction Engines Limited (‘Reaction Engines’) today announced that it has raised a further £26.5 million in a strategic fundraising by securing backing from some of the most influential names in aerospace and finance which will support its development of SABRE™ – a revolutionary new class of aerospace engine combining jet and rocket technologies.

Read more

Artificial intelligence is being used for a dizzying array of tasks, but one of the most successful is also one of the scariest: automated surveillance. Case in point is Chinese startup SenseTime, which makes AI-powered surveillance software for the country’s police, and which this week received a new round of funding worth $600 million. This funding, led by retailing giant Alibaba, reportedly gives SenseTime a total valuation of more than $4.5 billion, making it the most valuable AI startup in the world, according to analyst firm CB Insights.

This news is significant for a number of reasons. First, it shows how China continues to pour money into artificial intelligence, both through government funding and private investment. Many are watching the competition between China and America to develop cutting-edge AI with great interest, and see investment as an important measure of progress. China has overtaken the US in this regard, although experts are quick to caution that it’s only one metric of success.

Secondly, the investment shows that image analysis is one of the most lucrative commercial applications for AI. SenseTime became profitable in 2017 and claims it has more than 400 clients and partners. It sells its AI-powered services to improve the camera apps of smartphone-makers like OPPO and Vivo; to offer “beautification” effects and AR filters on Chinese social media platforms like Weibo; and to provide identity verification for domestic finance and retail apps like Huanbei and Rong360.

Read more

“If you went to bed last night as an industrial company, you’re going to wake up this morning as a software and analytics company.” Jeff Immelt, former CEO of General Electric

The second wave of digitization is set to disrupt all spheres of economic life. As venture capital investor Marc Andreesen pointed out, “software is eating the world.” Yet, despite the unprecedented scope and momentum of digitization, many decision makers remain unsure how to cope, and turn to scholars for guidance on how to approach disruption.

The first thing they should know is that not all technological change is “disruptive.” It’s important to distinguish between different types of innovation, and the responses they require by firms. In a recent publication in the Journal of Product Innovation, we undertook a systematic review of 40 years (1975 to 2016) of innovation research. Using a natural language processing approach, we analyzed and organized 1,078 articles published on the topics of disruptive, architectural, breakthrough, competence-destroying, discontinuous, and radical innovation. We used a topic-modeling algorithm that attempts to determine the topics in a set of text documents. We quantitatively compared different models, which led us to select the model that best described the underlying text data. This model clustered text into 84 distinct topics. It performs best at explaining the variability of the data in assigning words to topics and topics to documents, minimizing noise in the data.

Read more

A longer-term concern is the way AI creates a virtuous circle or “flywheel” effect, allowing companies that embrace it to operate more efficiently, generate more data, improve their services, attract more customers and offer lower prices. That sounds like a good thing, but it could also lead to more corporate concentration and monopoly power—as has already happened in the technology sector.

LIE DETECTORS ARE not widely used in business, but Ping An, a Chinese insurance company, thinks it can spot dishonesty. The company lets customers apply for loans through its app. Prospective borrowers answer questions about their income and plans for repayment by video, which monitors around 50 tiny facial expressions to determine whether they are telling the truth. The program, enabled by artificial intelligence (AI), helps pinpoint customers who require further scrutiny.

AI will change more than borrowers’ bank balances. Johnson & Johnson, a consumer-goods firm, and Accenture, a consultancy, use AI to sort through job applications and pick the best candidates. AI helps Caesars, a casino and hotel group, guess customers’ likely spending and offer personalised promotions to draw them in. Bloomberg, a media and financial-information firm, uses AI to scan companies’ earnings releases and automatically generate news articles. Vodafone, a mobile operator, can predict problems with its network and with users’ devices before they arise. Companies in every industry use AI to monitor cyber-security threats and other risks, such as disgruntled employees.

Get our daily newsletter

Upgrade your inbox and get our Daily Dispatch and Editor’s Picks.

Read more