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Pausing AI Development for 6 Months Makes No Sense – Do Not Sign That Open Letter

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It was a noble vision: save the world from an AI apocalypse by pausing advanced AI development for months, until the world has figured out how to make AI safer.  In an open letter, technology and business luminaries like Elon Musk and Apple cofounder Steve Wozniak, put their names and signatures, declaring loud and clear: “We call on all AI labs to immediately pause for at least 6 months the training of AI systems more powerful than GPT-4.”

I do not like the call because it makes no practical sense. How do you pause the development of AI for 6 months just to figure out how to regulate it? Is that a call for US companies or Chinese companies – and do you make sure everyone will not have a small server running during the freeze time?

Unmistakably, the world needs action on AI regulation. The UK had drawn the first sword.; I expect the EU to ramp up the high voltage and get that done. But doing that must not stop AI development. The world did not pause the development of automobiles just to regulate them. The world did not pause the development of nuclear reactors just to regulate them. What needs to happen is for regulators to move fast, and do their jobs, even as activists and all stakeholders push companies to be responsible on how to develop and deploy AI systems.

Companies understand the stakes: if they mess up badly, their missions would be lost. More so, the AI systems like ChatGPT and Bard which are triggering these calls are not going to trigger existential risks in this world. While they have the capacity to misinform and disinform us, and also cause us to waste money on checkout pages, they are not as harmful as nuclear reactors, at least for now. And if the world did not freeze nuclear science development just to write regulations for reactors, we can have consumer AI developments and regulations running in parallel.

A better call would have been: regulators, give us a strong regulation within 6 months!

A group of high-profile signatories, including Tesla CEO Elon Musk and Apple co-founder Steve Wozniak, are asking companies to pump the brakes on “giant AI experiments “until there’s confidence that any risks are manageable and the effects are largely positive. A letter published by the nonprofit Future of Life Institute on Wednesday states that large-scale AI projects “can pose profound risks to society and humanity” if not properly managed. The signatories, which also include well-known AI researchers, are asking for a six-month pause on anything more powerful than GPT-4, adding that the race to develop machine learning is outpacing necessary guardrails. The statement also calls for AI developers to work with policymakers to accelerate effective governance systems, including a new regulatory authority dedicated to AI. (LinkedIn)

Meanwhile, in a new report, Goldman Sachs has noted that AI could displace millions of jobs. The report’s authors, which include Chief Economist Jan Hatzius, said roughly two-thirds of jobs in the U.S. and Europe are exposed to some degree of AI automation while generative AI could replace up to 25% of current employment, or some 300 million full-time jobs.

“Despite significant uncertainty around the potential of generative AI, its ability to generate content that is indistinguishable from human-created output and to break down communication barriers between humans and machines reflects a major advancement with potentially large macroeconomic effects,” the report reads.

Comment on Feed

Comment 1: I feel Elon and Wozniak have a higher, more futuristic & insightful view to this thing, Prof. It’s not today Elon started talking about responsible AI. AI innovations leadership–when the nucleus of it finds itself in the hands of one man/company (who first makes the most giant leap)–potentially puts the power of the entire world’s population in the hands of one man, company or a group of tech cartels. We saw it in 2020 when ubiquitous social media tech companies were (unethically) used to subvert the wills, rights & freedoms of people & some political divide, with no consequences. What Facebook, Twitter & YouTube did in 2020 (with the pandemic & the 2020 elections) was nothing short of tyranny & autocracy.

As we (the technology & socioeconomic world) gradually evolves towards singularity, as AI machines fast become humanized with greater capacity to even “influence” human thoughts & reason, it’s important these machines get to the hands of (really ethical, less power drunk & controlling) people or companies who will still appreciate the place for human liberties in the future. I may not have many (technical) words for this position, but the future really should be watched closely with these machines (in the hands of some people as industry leaders), and Elon has been alluding to this for years now.

My Response: There is no comparison, we are nobody in the world of Elon Musk. But do not take yours truly for granted. In our space, we hold very well (my book in tech won “Book of the Year” award). And what that means: even in his limitless knowledge, he can be faulted. What he is asking makes no sense. You pause for 6 months in the US while China continues development.

Comment 1RWas never faulting you, Prof. Not quite. Just was trying to state it from another angle, Elon’s perspective perhaps. I’m not in your industry, and thus don’t have the technical depth to talk much about these things, but as a futurist and researcher, I’ve tried to follow this AI trend & learning what the future could look like and be like (so like to wade in a little to learn more). If the US has made the first & most inroads in AI innovations until now, does China still have the (first-mover) advantage to surpass the US in this field however they pace themselves? 

Was thinking those (countries/entities) that make the first leap in this strong AI innovation, and lead the industry in this, have dominant strategic advantage over others and can’t really be outpaced by another country? And yes, I too believe banning strong AI never would work, but was just thinking about the “ethics” of this and hoping that those who lead this would remain (favorable to humanity) and thus the need for government proactive watch now?.

My Response: “If the US has made the first & most inroads in AI innovations until now, does China still have the (first-mover) advantage to surpass the US in this field however they pace themselves’ – it is not the first-mover that matters but first-scaler. You can be first and still fail (iPod/Walkman, iPhone/Blackberry, etc). Being the first is good but that is not the issue; it is the first to scale that matters. If you pause AI in the US for 6 months, China will own everything. In the consumer business, the best AI systems are created by the Chinese from TikTok to WeChat. The US understands that. So, Musk’s position has no practical application unless he wants the US to lose. That is my point.

Comment 2: I agree with the need for swift regulation for AI; however, pausing development is impractical. Companies need to understand the repercussions of AI and take responsibility, while regulators create strong regulations.

Comment 3: The boom in generative AI and its influence in the nearest future will be astronomic. I don’t think regulators can predict the future of AI impact to make laws that can contain their actions in the foreseeable future. The best action is to make regulations and policies as new AI capabilities emerge. Therefore no need for any pause. What we are seeing today has been predicted decades ago. Even the covid-19 was predicted decades before it struck. If we aren’t ready for AI now, then we should blame ourselves.

My Response: ” The best action is to make regulations and policies as new AI capabilities emerge. Therefore no need for any pause. ” – nuanced and practical; nice call.

What the team CasinoLogin.Mobi Thinks About the No Deposit Bonus?

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No Deposit Bonus in Online Casino – To Take or Not To Take?

Gambling sites with top online pokies always offer players a variety of bonuses for signing up, installing an app, depositing, or other options. The most popular are the best Australian online casinos with no-deposit bonus because this gift allows players to play for real money without personal expenses. A no-deposit bonus is often the deciding factor when choosing a platform. Therefore, CasinoLogin.Mobi specialists have prepared material about this bonus’s types, purposes, and requirements.

Variability No Deposit Bonuses in Online Casino

Today, the global gambling industry is aware of the following types of no-deposit bonuses in a casino:

  • Welcome bonus – can be credited in the form of free spins or real money without replenishing the balance
  • Festive no deposit bonus – credited to the player’s account on birthday, Halloween, New Year, and other public holidays
  • VIP bonuses – gambling fans can receive no deposit bonus in the casino for reaching the next VIP status under the terms of the loyalty program
  • For inviting players to the site – this format of bonuses for players from Australia motivates to advertise the establishment because for the minimum deposit of a friend, you get an equivalent amount of funds

Remember that playing for a no-deposit gift is in no way connected with the demo version of the slot at online casinos. If the latter is associated with a free game for candy wrappers to get acquainted with the assortment, then a game for no deposit can bring real winnings after all wagering conditions are met. We’ll talk about this later.

Benefits of No Deposit Bonus

Gambling portals give out no deposit to lure as many players as possible because many people want to play for free. Our experts’ opinions about this promotion are unanimous – you can take advantage of it if there are transparent wagering rules.

We also want to present the players with a basic supply of no-deposit bonuses in casino pluses so that they can figure out the prospects of such a promotion for themselves:

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  • Reducing the level of risk because, in the process of spinning the reels, the money of the online club is spent
  • Testing the functionality of online establishments, as well as familiarization with the software
  • Checking unfamiliar games, which will allow you to identify bonuses, combinations, and odds quickly
  • The opportunity of real winnings in a free game with withdrawal to any convenient system

Cons No Deposit Bonus in Casino

Any offer of online casinos has drawbacks. If you decide to activate the no-deposit bonus, you should consider the following disadvantages:

  • High wagering requirements, reaching a wager of x50
  • A certain set of slots for wagering money
  • Ability to test not all categories of games

Therefore, players from Australia should initially check the conditions of available offers. Some gambling establishments intentionally overestimate the no-deposit bonus, which excludes the possibility of its withdrawal. Others prescribe the rules according to which the no deposit is used only to familiarize yourself with the library of games and does not imply a withdrawal.

Requirements No Deposit Bonus

If you have already decided to use such a bonus, be sure to understand the possible requirements for no-deposit bonus in a casino:

Wager size

 

This indicator is also called the passage or rollover because it indicates the number of spins of the entire no-deposit amount for complete wagering. This is online casinos’ real insurance against the fact that players will only try to withdraw free money after receiving it. Therefore, if you received $20 for free, and your promotion wager is x20, you will have to wager 20 * 20 = $400 before withdrawing funds. If we consider no deposit in the form of free spins, you will also have to scroll through the entire amount earned, considering the set rollover.

 

Withdrawal limit

 

Another insurance of gambling establishments is the restrictions on withdrawing money won while wagering a no-deposit bonus. This means that the rules indicate the number of funds earned after scrolling the gift allowed for withdrawal. It is fixed by the administration and is not subject to discussion. This approach limits even the most experienced and successful players from withdrawing fabulous winnings. For example, even if you won back the no-deposit amount and received $400, the withdrawal of only $50 can be specified in the conditions. Therefore, you need to study the rules before subscribing to the bonus because it may be ineffective.

 

Maximum bet limit

 

This indicator tells the player that the set bet per spin cannot exceed 5-10 dollars. Wagering will not be counted if you exceed the presented maximum bet limits. The consequence of such a game will be confiscating bonus funds due to an unacceptable bet.

 

Available games

 

Players can often use a specific pokie or entertainment category to wager the full amount of the no-deposit bonus in a casino. For example, the rules state that free money is wagered 100% in slots. At the same time, playing table and card games bring only 20-50% wagering. The use of bonus money in prohibited games will not allow you to win back the gift and will lead to the cancellation of the no-deposit.

 

In Completion

Given the above, you should not rely 100% on a no-deposit bonus in a casino. You also do not need to consider the possibility of receiving free money to withdraw it to the card immediately. Gambling portals from Australia insure themselves by setting special wagering conditions, which vary at the request of casino owners.

No need to think that our experts discourage players from using free bonuses. But you must understand the consequences in the form of wasted time and effort to win back a gift with an overstated wager. So play responsibly, check the rules, and only use the money after 21.

The lady who got rejected for a job because she wore a hijab

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I got a call yesterday from a lady who briefed me that she was denied a job she is qualified for solely because she wore a hijab based on her religious sentiments.

She applied for the job and was invited for an interview, as a Muslim lady she wrapped a hijab around her head done her neck, right there the recruiter told her brazenly that although she was qualified for the role she will not be employed based on the fact that she was wearing a hijab because that it is against their company policy unless she will be ready to forgo the hijab and other things she uses to identify with her religion.

From the tone of her voice, I can sense the trauma, the humiliation and the embarrassment she faced and the consciousness that she was denied a job based solely on her religion is despicable.

This is not the first time we are hearing or reading about stuff similar to this, some of you might have even experienced it in one way or the other; Job seekers being turned down not because they are not qualified for the role but because of their tribe, religion or look. Landlords or house owners turn down house hunters seeking apartments to rent or buy based on their tribe, origin, gender or religion. It is regular to hear landlords say that they are not renting their house out to a person because of the gender of the person, some will say that they do not want single women or men in their houses as tenants. Some will say that they do not want an Igbo person, a Yoruba, a Hausa man, a Fulani person, a Christian or a Muslim to live in his house.

I as well have experienced my own fair share of discrimination. I was discriminated against based on my profession. I remember one time I was house hunting in Abuja, I got an apartment I really liked and was ready to proceed with the payments and to move in, the house agent asked me what I do for a living and I told him that I’m a lawyer and he told me without mincing words that I can not be given the house because the landlord says that does not want tenants who are lawyers.

I was taken aback; I felt humiliated and embarrassed and I decided to escalate the issue. I called the landlord directly telling him what the agent had told me and how that amounts to discrimination against me, I as well pressed down on him on how I want to escalate the issue. The Landlord came to reason and decided to settle down with me and asked me to go ahead and make payment for the apartment but I ended up letting go of the house due to that experience.

All these whichever form they come are discriminations that our laws frown upon and criminalize. Any form of discrimination no matter what the reasons behind it could be is illegal, unconstitutional and criminal. Our constitution surmounts your company policy or your emotions or sentiments. 

As an employer of labour, it is illegal for you to reject a prospective employee based solely on her tribe, religion or looks. As a landlord or house owner, it is unconstitutional for you to turn down a prospective tenant because of where that person is from, what religion the person identifies with or because of the gender of the person. 

Our laws are clear on this;  no Nigerian citizen should be discriminated against because of tribe, sex, or religion.  This is the unequivocal provision of S 42 of the constitution which states categorically that “A citizen of Nigeria of a particular community, ethnic group, place of origin, sex, religion or political opinion (shall not be discriminated against under any circumstances)”.

Whenever opportunities are denied of you not because you are not qualified for them but solely because of your tribe, religion or gender you should know that you have been discriminated against which is illegal and unconstitutional; do not hesitate to see a lawyer who can help you to enforce your rights against discrimination as provided in S 42 of our constitution.

UK Startup Paytrix Secures $18.3 Million Fund to Ease Corporate Payment Problems

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Fund, money cash dollar

London-based fintech startup Paytrix has secured $18.3 million series A funding round to solve the challenges of companies that struggle with large volumes of international payments.

The funding round was co-led by Unusual Ventures, Motive Partners and Bain Capital Ventures, Fin Capital, Better Tomorrow Ventures, Hambro Perks, ClockTower Ventures, The Fintech Fund, and D4 Ventures with participation from other angel investors.

Due to the complexity and cost of cross-border payments, Paytrix seeks to address the pain point for companies looking to scale.

Speaking on the recent fund raised, Paytrix CEO and co-founder Aran Brown said, “High-potential companies struggle to cope with large volumes of international payments and there is a huge gap in the markets. At one end you have inefficient local solutions, at the other, you have the tier-one global providers, inaccessible to all but the world’s biggest businesses. Businesses have no option but to stitch together a costly and complex patchwork of service providers and this is the pain point that Paytrix is stepping in to solve”.

It is interesting to note that last year, Paytrix secured £5 million fund which was led by Hambro perks in order to scale its platform to help businesses curate their payments globally and optimise them for real growth. By building the curation layer for global payments, Paytrix is focused on using technology to fix the economic barriers to growth faced by global marketplaces.

The fintech startup currently has a full in-house engineering team across multiple locations and a growing team in Ireland, which includes customer support and heads of finance, IT, and operations. To fuel expansion across Europe, Ireland will become Paytrix’s center of global operations.

Founded in 2022 by experienced fintech operators with multiple successful exits, Paytrix wants to help businesses with the right payments solution to help them achieve their vision. The startup absorbs the risk, infrastructure build-out, and complexity that come with managing payments in-house, giving its clients more freedom to focus on their customers to grow their business.

The startup offers Payment Acceptance, Banking-as-a-Service, and Real-time Payout solutions to businesses spanning marketplaces, eCommerce, the gig economy, and Web 3. Behind Paytrix embedded payments technology is a team of payments and software experts who are more than consultants, with decades of experience spanning Google, Currency Cloud, PayPal, Western Union, Softbank, Paysafe, HyperWallet and Twitter. They are an integral part of the startup white-glove service that’s included with every solution.

Paytrix is a mission to make the complex simple, the messy clean, and to make scale accessible to every brand and platform.

UK Government Rolls Out Proposals to Regulate Artificial Intelligence (AI)

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The U.K. government has put forward proposals to regulate artificial intelligence (AI) technology which it says will increase the growth of AI in the country while countering potential risks of the technology to society.

In a white paper presented to the parliament, the Department for Science, Innovation, and Technology (DSIT) outlined six core principles it wants companies to adhere to. They are fairness, redress or contestability, safety, transparency and expandability, accountability and governance, and security and robustness.

The UK government said, “Over the next twelve months, regulators will issue practical guidance to organizations, as well as other tools and resources like risk assessment templates, to set out how to implement these principles in their sectors. When parliamentary time allows, legislation could be introduced to ensure regulators consider the principles consistently”.

The proposals put forward will focus on supporting growth and avoiding unnecessary barriers being placed on businesses. This could see businesses divulge information about how they test their AI’s reliability as well as following guidance set by the UK government to ensure safe and efficient use of the AI technology

Also speaking on the regulation of AI, UK Digital Minister Damian Collins said,

We want to make sure the UK has the right rules to empower businesses and protect people as AI and the use of data keep changing the ways we live and work. It is vital that our rules offer clarity to businesses, confidence to investors, and boost public trust. Our flexible approach will help us shape the future of AI and cement our global position as science and tech superpower”.

The U.K. government recognizes that regulators will need access to the necessary skills and expertise to effectively regulate AI. While many UK regulators have already commenced taking action to support the responsible use of AI, the policy paper highlights some of the recent problems faced by businesses, which include overlaps, a lack of clarity, and inconsistency between different regulators.

The government wants companies that incorporate AI into their businesses to ensure they provide enough level of transparency about how their algorithms are developed and used. This implies that businesses are mandated to explain when and how AI is used, also explaining its decision-making process at an appropriate level.

Following the proposal presented to the parliament by the UK government, businesses are mandated to implement a few things which are;

  • Businesses should review their internal AI strategy and the proposed principles and consider what steps they will need to align the strategy with the new regulatory frameworks.
  • Businesses that make use of AI in the UK should go through the white paper and stay updated on announcements from regulators about how they will interpret, implement and enforce the cross-sectoral principles.
  • Business leaders should consider who is responsible for AI governance and risk management strategy within their organization.

The rollout of regulations on AI is timely, owing to the fact that the technology has driven a wave of demand for the technology, which has seen widespread adoption in schools, and workplaces and if not regulated can pose a big risk.

Experts have also expressed concerns about the negative impact the technology can pose to the public, which includes heightened plagiarism, discrimination against women, and ethnic majorities.  Fears have also been raised about the possibility of AI displacing thousands of jobs which will lead to a significant increase in job loss in different industries.

In a 2022 report, it is revealed that around 15% of all businesses in the UK have adopted at least one AI technology, which translates to 432,000 companies. Around 2% of businesses are currently piloting AI and 10% plan to adopt at least one AI technology in the future, equating to 62,000 and 292,000 businesses respectively.

Analysts predict that the UK GDP could be up to 10.3% higher in 2030 as a result of AI. The bulk of these impacts will come from consumption-side product enhancements, which stimulate consumption but most importantly bring about more consumer choice and more affordable, bespoke goods over time as a result.