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Come and master the future of AI-driven businesses at Tekedia Institute

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Congratulations ChatGPT, the OpenAI pioneering AI system, for passing your MBA exam! Yes, ChatGPT “has passed the final exam for the University of Pennsylvania’s Wharton School Master of Business Administration (MBA) program. The exam was set by Professor Christian Terwiesch, in a research to test ChatGPT’s artificial intelligence capabilities.”

The age of singularity is around the corner as machines become smarter. Tekedia Mini-MBA assembled eminent experts in this domain to help businesses understand that future:

  • Exponential Technologies and Business Opportunities in the Age of Singularity – Edward Hudgins, PH.D
  • Singularities, Transhumanism, and Entrepreneurship – Gennady Stolyarov II
  • Singularity, Exponential Growth and Technology – Chogwu Abdul, PhD
  • Futurism, Malleability, and Category King Companies – Brent Ellman

Understand ChatGPT, singularity, and the promises of the future at Tekedia Institute Mini-MBA which begins Feb 6 here.

ChatGPT Passes An MBA Exam Set by A Wharton Professor

ChatGPT Passes An MBA Exam Set by A Wharton Professor

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ChatGPT has reached yet another incredible milestone to cement its credibility as a disruptor and a new source of information that may impact critical thinking.

The OpenAI chatbot GPT-3 has passed the final exam for the University of Pennsylvania’s Wharton School Master of Business Administration (MBA) program. The exam was set by Professor Christian Terwiesch, in a research to test ChatGPT’s artificial intelligence capabilities.

The question by Terwiesch, who authored the research paper, was: “Would Chat GPT3 Get a Wharton MBA? A Prediction Based on Its Performance in the Operations Management Course.” He said the bot scored between a B- and B on the exam, adding to the already raised concern that the AI-powered invention could spell doom for education.

He said in the paper, which was published on Jan. 17, that the bot’s explanations were “excellent.”

Terwiesch said the ChatGPT’s score is an indication of its “remarkable ability to automate some of the skills of highly compensated knowledge workers in general and specifically the knowledge workers in the jobs held by MBA graduates including analysts, managers, and consultants.”

The bot did an “amazing job at basic operations management and process analysis questions including those that are based on case studies,” he wrote, concluding that it is also “remarkably good at modifying its answers in response to human hints.”

ChatGPT has become popular among internet users since it was launched late last year, due to its ability to add human-like context to queries. It uses GPT-3.5, a large language model released last year, to generate answers and authentic-looking responses to queries about all topics. With the GPT-3.5-powered ability, ChatGPT helps users to accomplish tasks such as creating poems, composing college essays and writing code.

But the AI chatbot abilities have become cause of concern to educators who fear that it has the potential of killing critical thinking by inspiring cheating. Terwiesch’s findings have just confirmed the fear of these educators, some of whom are already banning the technology from schools.

New York City’s Department of Education, earlier this month, announced a ban on ChatGPT from its schools’ devices and networks.

It is difficult to differentiate between a ChatGPT-generated response from a human’s. This is because of the chatbot’s conversational speaking style and coherent, topical response style.

Against the backdrop, NBC noted that experts who work in both artificial intelligence and education have acknowledged that bots like ChatGPT could be a detriment to education in the future.

ChatGPT took the world by storm, racking up millions of users just days after it was launched. But OpenAI CEO Sam Altman has warned that the system cannot be trusted to provide accurate information for now, describing it as “a mistake to be relying on [ChatGPT] for anything important right now.”

Terwiesch also noted that Chat GPT3 “at times makes surprising mistakes in relatively simple calculations at the level of 6th grade Math.”

The present version of Chat GPT is “not capable of handling more advanced process analysis questions, even when they are based on fairly standard templates,” Terwiesch added. “This includes process flows with multiple products and problems with stochastic effects such as demand variability.”

Despite its limitations, Terwiesch said ChatGPT3’s performance on the test has “important implications for business school education, including the need for exam policies, curriculum design focusing on collaboration between human and AI, opportunities to simulate real world decision making processes, the need to teach creative problem solving, improved teaching productivity, and more.”

About two weeks ago, OpenAI announced it’s planning to launch a professional version of ChatGPT, which will address most of its inefficiencies. The AI company said services offered under ChatGPT Professional will be double the regular daily limit and the benefits will include no unavailability window, no throttling and an unlimited number of messages with the chatbot.

SEC is a Regulatory Agency with an Enforcement Division, not an Enforcement Agency

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US Securities and Exchange Commission [SEC] Commissioner, Hester Peirce, recommended against disregarding Crypto in a speech “Don’t Swipe Left” at the Duke Conference. She believes that the Crypto Industry must also self-regulate to a degree.

Peirce highlighted on lessons learnt from crypto in 2022 and how regulators should approach policy in 2023.

We tell people to come down to the office to talk to us about their projects, plug the information they give us into our proprietary security-identifying algorithms, and then send people home with a court date.

After all, if we continued with our regulation-by-enforcement approach at our current pace, we would approach 400 years before we got through the tokens that are allegedly securities.

Bank of America makes about $100 Billion a year, FINRA finally fined them $5 Million for more than a decade of options reporting failures. How much money did retail lose because of BofA’s actions? Why did it take so long?

The story fails to mention the catalyst for the overreach which is chair Gary Gensler. His track record to date is dismal at best. He boasts of judgements against the likes of Kim Kardashian, met numerous times with Sam Bankman- Fried but missed FTX Crypto Market manipulations and investors overrides.

Herb Welch, a Twitter user said; If you think Gensler is bad, Hester Pierce is much much worse. She works in favor of Wall Street not Main Street and could care less about her fellow Americans and will look the other way as The crooks on Wall Street continue to lie, cheat and steal.

Ken Griffin made $16 billion last year in the market because he can see in-depth level trades that no one else can. He is the stock market. He has material insider information. And the failing SEC refuses to investigate him.

Peirce in a reply tweet on SEC’s Jan.5, post on microblogging platform Twitter stated that the SEC is a regulatory agency with an enforcement division, not an enforcement agency. Why are we leading with enforcement in crypto?

Relatively, on his recent CoinDesk interview ‘What Was Gary Gensler Really Doing?’ Tom Emmer — a US House Majority Whip said;

Crypto is here to stay. I will keep advocating for policies that advance crypto innovation and adoption in the United States because crypto is more than a financial investment: it’s about restoring liberty and choice to individuals.

So why is he so bullish on crypto? “It’s not about crypto,” says Emmer, clarifying that it’s about what crypto is facilitating – the movement towards Web3, or what he prefers to call the “ownership economy.”

That goes to everything I believe in,” he says, “which is restoring the individual’s right to make his or her decisions about what they want to do in the marketplace. Or who they want to do it with. Or how they want to get that done. And they don’t have to have a middleman.” Ultimately, this is about “restoring liberty and choice to individuals.

With the economy expected to slip into recession, the coming Crypto regulatory tsunami far exceeds the excesses of the post-financial-crisis period. Nowhere are the current regulatory excesses more evident than at the Securities and Exchange Commission.

The SEC’s mandate is vital but limited. Securities laws empower the commission to combat market abuses and fraud and to ensure that investors have material information to make their own investment judgments.

SEC now proposes to substitute its own judgment for that of investors, corporate directors and managers. Its recent set of proposed rules, many of which go beyond any statutory remit, have little to do with preventing abuse or fostering transparency.

The SEC has taken on the role of telling companies how to run themselves and investors how to invest. In the process, the SEC is eviscerating the vital barrier in our market-driven economy between the limited and legally constrained responsibilities of the public sector and the primacy of the private sector.

In a different twist, Coinbase Executive accuses Binance Exchange of Crypto price manipulation, “a pattern of Binance front-running over 18+ months”. Every single exchange manipulates the price. Why wouldn’t they when it is profitable and no one is watching, right?

Exchanges make profit on spreads and many other avenues. Also how can anyone prove inside trades? Eg Binance buys a token. Then forced a rally, them dumps?

Ethereum’s Shanghai Mainnet ‘Shadow Folk’ Goes Live

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Software developers for Ethereum, the world’s second-largest blockchain, on Monday said they successfully deployed a copy of the blockchain — or “shadow fork” — to run tests of the upcoming Shanghai hardfork upgrade scheduled for March.

The shadow fork was applied successfully, with only a few minor glitches on Geth clients — software used by nodes to operate the blockchain — according to Marius Van Der Wijden, a software developer at the Ethereum Foundation. The glitches have since been corrected, he said.

A shadow fork is a copy of the blockchain used to run tests before creating the public testnet. As part of this shadow fork, data will be copied from the protocol to a testing environment through a number of test forks. The public testnet for Shanghai will go live in the coming days.

The Shanghai upgrade will be the first hardfork on Ethereum since the “Merge” took place in September last year, when the blockchain transitioned from a “Proof-of-Work” (PoW) consensus mechanism to a “Proof of Stake” (PoS) method.

This upgrade will allow the roughly 16 million Ether (roughly US$26.6 billion) that has been staked into the network to be unlocked, according to Etherscan.

There is some concern within the crypto industry that once the Shanghai upgrade goes live there will be increased sell pressure on the token from the sudden availability of 16 million unlocked Ether.

The argument against that is that 16 million Ether represents only 13.2% of the total circulating supply of the cryptocurrency, far lower than many other tokens that use a PoS method. Additionally, other staking options for Ether have been available to investors for quite some time.

Exited validators can withdraw ETH, and active validators can automatically “skim” rewards from active validators whose balance exceeds 32ETH. Rewards can also be skimmed to a new withdrawal address, which is interesting. To avoid large fluctuations in the validator set from epoch to epoch, about 7 validators can exit per epoch, it estimated that it would take a year if all 500k validators exited at once.

You’re Invited to Tekedia’s Festival of Innovation Which Begins Feb 6

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Cape Town and Johannesburg have treated me very fine for years; their big banks and large companies have consistently provided  platforms to do what professors do – and get paid. I have been so connected with those markets that South Africa’s African Innovator Magazine chronicled me and  wrote:

‘On the front cover… readers are asked “What is Innovation?”, a recurring theme throughout the edition. There are several articles that deal with innovation in-and from Africa, including profiles on Ndubuisi Ekekwe “A doctor of innovation” … as well as South African born innovator and inventor Elon Musk.’ Count your blessings if you are mentioned in the same sentence with Elon Musk, the generation’s finest innovator.

That tradition of innovation is what I do. I invite you to a great festival of innovation which begins Feb 6 here

African Innovator Magazine Calls Dr. Ndubuisi Ekekwe “A Doctor of Innovation”