Daily Archives: June 18, 2022

AI could mitigate bias in advertising tech – VentureBeat

Posted: June 18, 2022 at 2:00 am

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Significant changes are afoot in the advertising industry. In the last month alone, Netflix announced it may enter the ad business, lawmakers introduced bipartisan bills to throttle Googles digital ad dominance and Facebook rolled out changes to help advertisers achieve more precision in their targeting. As major players prepare, advertisers have an opportunity to manage these changes in a way that optimizes ad spending and addresses the problem of bias in ad technology.

Bias is a well-known issue for the ad industry, and the programmatic technologies the companies have adopted to supercharge marketing campaigns may not be improving matters. Nearly $1 trillion of digital media flows through programmatic engines that segment and target specific audiences, sometimes missing large consumer groups in the process. Not only can that contribute to improper bias, but its also an inefficient way to spend your ad dollars.

The industry needs to do better, and we need to start now.

Why now? Marketers are rebuilding their technology infrastructures to benefit from artificial intelligence (AI). Netflix already relies heavily on AI to personalize content, and Nike uses it to sell to consumers directly. These developments require that marketers create a foundation of trust with consumers, and to keep pace with the industry, it must be done in a way that scales.

Its why, as an industry, we must tap into AI and leverage the powerful tools at our disposal to help mitigate the bias problem.

As AI algorithms come to dominate in the industrys efforts to find audiences and serve ads, we must integrate mitigation tools to avoid reinforcing biased thinking. That is, rather than letting AI exacerbate the problem, we must make the technology part of the solution. Doing this can help bring fairness by adapting ad buying behavior to reach more diverse audiences. By embedding fairness metrics and AI algorithms into the core of marketing processes, we can deliver a more effective value exchange between consumers and brands and potentially generate improved ROI on media dollars spent.

The technology needed to mitigate bias in ads already exists, and companies in finance, human capital management, healthcare, education and many other industries are testing open-source toolkits that build bias mitigation into their marketing processes. Its time for the advertising industry to make a concerted effort to build fairness into our marketing technology as well.

AI bias occurs when the machine learning process used to create AI models places certain privileged groups at a systematic advantage and certain unprivileged groups at a systematic disadvantage. Such bias could impact a financial institutions ability to fairly assign credit scores or issue mortgages, or it could affect an insurance companys ability to accurately predict medical expenditures for different clients.

In advertising, bias can prevent consumers from being exposed to certain brands and information based on flawed algorithmic analysis. Often, this does harm to both the consumers and the brands. Embedding fairness metrics and AI algorithms into the marketing processes could enable the technology to, for example, automatically and at scale generate anomaly reports when something doesnt look right with the data indexing as media plans are executing.

If such a fairness solution can be applied to the core of how we do marketing today, we could not only help reduce bias, but also potentially help brands get a better return on their media spending.

Addressing this problem is bigger than just one company. We need the best minds and resources in the marketing industry working together to address systematic bias in advertising. If our industry refuses to acknowledge the problem and fails to try to embed fairness into our core marketing processes and tools, then we could be facing a future dominated by ad platform consolidation, opaque metrics and automation-enhanced bias. An open, transparent approach to governance, AI and data sharing can help brands take back control of how they communicate with their audiences.

Frankly, I dont see how anyone in our industry can be aware of the potential bias problem and not be passionate about addressing it. Its the right thing to do for society, in that youre making information about products and services available to people who, because of bias, might not be exposed to those things. And its the right thing to do for brands, helping them better connect with a larger set of consumers that can help drive more business.

Im calling for an industry-wide effort encompassing every team, function, brand, agency and ad-tech provider. Leaders across the industry must commit to tackling bias together, if we are to make our industry better, more equitable, and more fit for the future.

Bob Lord is the IBM senior vice president for The Weather Company and Alliances.

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PartyCasino Looks at AI and Future Advancements – Investing News Network

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" The Office: Somehow We Manage offers players the chance to immerse themselves in iconic moments from the series and connect with their favorite characters like never before," said Darcy Taylor , Chief Executive Officer of ESGG. "Fans of The Office will absolutely feel the nostalgia through this new game."

" The Office: Somehow We Manage reimagines the cast as vibrant, animated characters for the first time, bringing a fresh new experience to The Office fans everywhere," said Jim Molinets , SVP of Production, Universal Games and Digital Platforms. "The game will transport players into well-known and hilarious episodes that have resonated with so many over the years and let them 'clock in' even more time with their favorite Dundler Mifflin employees."

The Office: Somehow We Manage will allow fans to relive memorable moments from the show like they've never seen them before - animated, all while tapping their way to record profits to save the Scranton Branch from downsizing. Featuring accessible gameplay for all types of players, this narrative idle tapper will give players the chance to unlock and upgrade iconic characters and their desks all the while participating in monthly special events for additional in-game rewards.

GAME FEATURES

COLLECT ICONIC CHARACTERS IN GAME Tap, upgrade, and build desks for favorite characters from the hit NBC comedy The Office , including Prison Mike, Farmer Dwight, Pretzel Day Stanley, and of course, Three Hole Punch Jim, all appearing in animated form for the first time.

RELIVE MEMORABLE EPISODES FROM THE OFFICE [U.S.] Click through memorable episodes in this free-to-play game, like "The Dundies" and "Dinner Party." Take a seat in Michael's office, get in line for Pretzel Day, or spend the weekend at Schrute Farms. Oh, and watch out for Kevin's famous chili! Additional episodes from all nine seasons of the show will be added to the game on a regular basis.

SPECIAL EVENTS In-game events will introduce new versions of characters and more memorable moments, along with weekly and monthly special events inspired by elements from the show.

EARN IN-GAME REWARDS TO KEEP THE BRANCH AFLOAT Manage Dunder Mifflin Scranton with the help of the whole branch! Get new leads and tap away as the in-game rewards start rolling in. Just make sure Michael doesn't spend the surplus on a new plasma TV!

Players can now run the world's best mid-size regional paper company branch in The Office: Somehow We Manage , available now on iOS and Android.

Visual assets for the game, including key art and logos, can be found in the online press kit .

ABOUT EAST SIDE GAMES GROUP

East Side Games Group (formerly operating under the name "LEAF Mobile Inc.") is a leading free-to-play mobile game group, creating engaging games that produce enduring player loyalty. Our studio groups entrepreneurial culture is anchored in creativity, execution, and growth through licensing of our proprietary Game Kit software platform that enables professional game developers to greatly increase the efficiency and effectiveness of game creation in addition to organic growth through a diverse portfolio of original and licensed IP mobile games that include: Archer: Danger Phone, Bud Farm Idle Tycoon, Cheech & Chong Bud Farm , The Goldbergs: Back to the 80s, It's Always Sunny: The Gang Goes Mobile and Trailer Park Boys Grea$y Money , RuPaul's Drag Race Superstar and T he Office: Somehow We Manage .

We are headquartered in Vancouver, Canada and our games are available worldwide on the App Store and Google Play. For further information, please visit: http://www.eastsidegamesgroup.com and join our online communities at LinkedIn , Twitter , Facebook , and Instagram .

Additional information about the Company continues to be available under its legal name, LEAF Mobile Inc., at http://www.sedar.com .

ABOUT NBC'S THE OFFICE

Produced by Universal Television in association with Deedle-Dee Productions and Reveille Productions, The Office is a groundbreaking mockumentary television series that follows the daily lives of the employeesof the Scranton branch ofDunder Mifflin, a fictional paper company. All nine seasons of the EmmyAward-winning series areavailable exclusively on Peacock.

ABOUT PEACOCK

Peacock is NBCUniversal's streaming service. Peacock delivers a world-class slate of exclusive originals, on-demand libraries of hit TV shows, plus critically acclaimed films from the vaults of Universal Pictures, Focus Features, DreamWorks Animation, Illumination and Hollywood's biggest studios. In addition, Peacock taps into NBCUniversal's unmatched ability to deliver a broad range of compelling topical content across news, sports, late-night, Spanish-language and reality. NBCUniversal is a subsidiary of Comcast Corporation.

ABOUT UNIVERSAL GAMES AND DIGITAL PLATFORMS

Universal's Games and Digital Platforms group leverages the vast portfolio of IP and characters from NBCUniversal. The Games and Digital Platforms group is a business unit of Universal Brand Development, which is chartered with globally expanding the company's intellectual properties, franchises, characters and stories through innovative physical and digital products, content, and consumer experiences. The company's extensive portfolio includes properties created by Universal Pictures, Illumination, DreamWorks Animation and NBCUniversal Television and Streaming. Universal Brand Development is part of NBCUniversal, a subsidiary of Comcast Corporation. http://www.universalbranddevelopment.com .

Forward-looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the proposed transactions described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including factors beyond the Company's control. These forward-looking statements are made as of the date of this news release.

SOURCE East Side Games Group

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Purdue’s new Institute of Hard AI connects AI with the physical world – Purdue University

Posted: at 2:00 am

WEST LAFAYETTE, Ind. Purdues College of Engineering announced the formation of the Institute of Hard AI on Tuesday (June 14) during the 11th annual meeting of the National Academy of Inventors in Phoenix. The collegewide institute positions Purdue as a national leader in artificial intelligence at the interface of the virtual and physical worlds.

To understand the term hard AI, think of it as bytes meet atoms. The full power of AI is at the interface between what we code and what we touch.

Intended to become a national leader at this frontier and guided by a top-tier alumni advisory board, the institute will combine research, teaching and commercialization in three areas:

AI by hardware: Future AI applications will place unprecedented demands on computing platforms, requiring advances in function-specific AI hardware to control complex systems and interconnected processes. Autonomous and connected systems, energy generation/distribution, health care and smart agriculture are examples of systems that will require specially designed AI chips. Leveraging Purdues unique strength in cognitive computing, the Institute of Hard AI will focus on a unique algorithm-to-hardware codesign approach, addressing challenges at all levels: algorithms, system architecture, circuits and devices.

AI of hard stuff: The location for AI is increasingly dispersed through edge computing, where computation, communication and control all move closer to the end users and are dispersed in a distributed, variable, highly constrained and underorganized computing substrate. This brings new challenges to the design of AI systems, including hardware heterogeneity, robustness and the need for extreme energy efficiency. Purdue has some of the worlds leading experts in edge computing, remote sensing and 5G systems. AI doesnt just live in the cloud it will be all around us.

AI for physical things: When AI is used for decisions at the interface of virtual-physical worlds, the criteria for success change. For example, responsiveness and safety matter no less than accuracy and throughput. From autonomous trucks to pharmaceutical manufacturing, from nuclear reactor operation to connected things in digital agriculture, Purdue leads the nation anytime applications touch physical things.

Kaushik Roy, the Edward G. Tiedemann, Jr. Distinguished Professor of Electrical and Computer Engineering, will serve as director of the institute; several associate directors will be named soon.

Roy said, From smart self-driving cars to smart homes, even smarter manufacturing to smart agriculture, AI systems will profoundly change the way we live by enabling transformative solutions to societal-scale challenges that we face. To bring that future forward, the Institute of Hard AI will coalesce Purdue Engineerings world-leading strength in hardware design, cognitive computing, learning algorithms and the Internet of Things, shaping bold advances in state-of-the-art AI systems. Our relentless focus will be on real-world impact driven by an aggressive and targeted research road map, unique workforce development and comprehensive partnerships with industry, federal and state government agencies to spur economic activity.

The institute will be guided by an alumni advisory board that comprises luminaries from industry, including Chris Lister (BSIE 95), Mike Harris (BSCEE 91), Dan Rosckes (BSIE 84) and Ujjwal Singh (BS computer science 94 and BSEE 94).

The institute is a one-of-a-kind comprehensive venture with a list of initiatives that includes cutting-edge research and innovation; courses related to hard AI for both industry and academia, including a minor degree in AI for physical applications; a distinguished lecture series; industry partnerships; student-industry networking and career development; and technology commercialization. The effort will also grow to include multiple other departments and colleges on the Purdue campus.

About Purdue University

Purdue University is a top public research institution developing practical solutions to todays toughest challenges. Ranked in each of the last four years as one of the 10 Most Innovative universities in the United States by U.S. News & World Report, Purdue delivers world-changing research and out-of-this-world discovery. Committed to hands-on and online, real-world learning, Purdue offers a transformative education to all. Committed to affordability and accessibility, Purdue has frozen tuition and most fees at 2012-13 levels, enabling more students than ever to graduate debt-free. See how Purdue never stops in the persistent pursuit of the next giant leap athttps://stories.purdue.edu.

Media contact: Brian Huchel, bhuchel@purdue.edu

Source: Kaushik Roy, kaushik@purdue.edu

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AI Summit 2022: Health Care AI Group Wins Into the Den Competition – IoT World Today

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Panakeia wins the dragon-den style pitching competition from 30 of the best and brightest AI startups

Alongside the lineup of exhibitors, talks and roundtables, this years AI London Summit introduced its first-ever Into the Den event designed to platform early-stage startups focused on applied AI. Into the Den takes the format of a dragons den-style pitching competition, with 30 startu-ps in the first round being whittled down to five to answer questions from a panel of judges.

The winning team is health care start-up Panakeia, an AI group that has designed a platform to create digital twins of patients cancer cells, allowing doctors to trial different therapies on the digital copy to determine the most effective treatment. Such a solution offers savings in not only time and money but also makes the process of patients treatments far less strenuous.

We are developing the next generation of multi-omic biomarker profiling it might sound like Greek to you but imagine the way cancer is being treated at the moment, said co-founder Pandu Raharja-Liu. Previously, if you got cancer there werent actually that many treatments available to you and many would only solve some part of a patients problems.

In the last couple of years weve found out some parts of the population respond better to certain treatments depending on their biomarker profile, and what researchers have done is before applying treatment, a number of tests are run on cancer patients to see which treatment is best suited to them, he said.

While allowing patients to be assigned the most accurate therapies, these tests are time-consuming, costly and use a part of cancerous tissue from the patient that eventually runs out. This process is also physically and emotionally draining for a patient. Here is where Panakeia has stepped in, to take the testing process out of the lab and into the web.

Weve developed our platform to profile the cancerous tissue digitally, said Raharja-Liu. Creating a digital scan of the tissue allows us to provide a prediction of a patients multi-omic biomarkers without having to do a molecular test. So its very fast, it doesnt require wet-lab tests on tissue and you can do it pretty much everywhere.

Once these unique biomarkers are identified, limitless numbers of tests can be run without fear of the patients tissue running out, allowing for a rapid discovery of the most appropriate treatments.

The group had their first system one for screening breast cancer clinically approved, with work underway for a colo-rectal system next. Speaking with Raharja-Liu, the receipt of the Into The Den prize is also a welcome sign that Panakeias technology is being recognized, and that the work is paying off.

Sometimes its hard to make people believe in what were doing, said Raharja-Liu. But with this prize, its one of the validations that show people actually do believe in us and in the capabilities of the technology.

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Taste of the future first artificial intelligence-created craft beer to be released at NOLA Brewing – WGNO New Orleans

Posted: at 2:00 am

NEW ORLEANS (WGNO) Locals will have a chance to try the first craft beer created by an artificial intelligence platform in June.

The AI Blonde Ale will be released at a Launch Party at Nola Brewery on June 20to coincide with CVPR, the worlds premier computer vision event.

Derek Lintern, a brewer at NOLA Brewing said he is excited to have a helping hand when it comes to crafting beer.

Its state-of-the-art technology with the traditional brewing methods, its pretty unique and its a recipe I would have never done normally but I really like how it tastes its very refreshing and very easy drinking Im really happy with it, said Lintern.

The beer was an experiment between The Australian Institute for Machine Learning (AIML) and Barossa Valley Brewing (BVB), founded by DSilva.

DSilva said the idea all started with a beer.

Yeah thats how it started, it started with a beer, Im sure a lot of ideas for companies have started over a beer, this started over a beer and ended up creating a beer and a company which is great, said DSilva.

With the technology, it makes it easier for brewers to produce their products.

About 10 million people review beers every day, there are all these sites and they put it into the world basically to show people what they think of the beer. You do exactly the same thing, there are 5 questions, you scan a QR code answer 5 questions you rate the beer and instead of it going into a website maybe somebody reads maybe not. What happens is artificial intelligence picks that up and goes directly to the producer the AI then takes all that data and manipulates a recipe and then gives it to the producer here this is what the markets thinking, said DSilva.

Derek Lintern said the new technology is not meant to replace brewers, but to help with the process.

The technology helps create the recipe, but the beer is still brewed manually.

The AI beer will only be available in New Orleans for a limited time.

DSilva said he is excited to bring something new to an amazing city. I am so excited I cant think of a better place to launch a beer, said DSilva.

He added, I am really keen for people to get down here and taste the future.

Anyone interested in attending the launch of the new beer can visit NOLA Brewing from 4 p.m. to 10 p.m. on Monday, June 20.

Deep Liquid is also offering 100 customers a free AI beer with their booking with Nola Pedal Barge and Nola Bike Bar.

They are offering $100 discount tickets to any of its private tours.

That includes any of the boat tours in Bayou Bienvenue as well as our pedal bike tour in the Bywater neighborhood.

For more information call (504) 264-1056) for NolaPedalBarge and (504) 308-1041 for NolaBikeBar.

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Voicemod uses AI to transform your voice into Morgan Freeman, astronauts, and more – The Verge

Posted: at 2:00 am

Voicemod, a popular real-time voice changer, is starting to use artificial intelligence to transform your voice into Morgan Freeman and other characters. A new Voicemod AI Voices beta is launching today, offering up eight options to transform your voice into fantasy characters, pilots, astronauts, and the actor Morgan Freeman.

Voicemod has been transforming voices for years thanks to classic sound design techniques, but these new voice effects combine AI, too. The Morgan voice, as Voicemod calls it, is particularly impressive, allowing you to pretend to be the famous movie star or simply a polished voice actor. The new pilot voice is also a lot of fun, with sound effects that really make it sound like youre piloting an aircraft.

All of the voices are processed in real time, so theyre ideal for streaming on Twitch or for fun calls on Discord. All the data for these voices has been generated with the help of English-speaking professional voice actors with characteristics that match the voice that Voicemod is recreating. Actors read scripts to generate data for AI-based models, and then sound designers use traditional sound design techniques to turn the voices into fully-fledged characters. Many of the AI voices include dynamic effects, filters, and background music.

As these AI voices are processed on your own PC, they will require more CPU power than regular Voicemod effects. Voicemod is opening up a beta today (you can sign up here), and youll be able to test them on your PC to make sure there arent any audio dropouts or other performance issues. The main version of Voicemod is only available on PC right now (a mobile app exists), but a Mac version is on the way.

Realistic synthetic voices are getting ever more impressive as the years roll by. While AI voices have been a novelty in the past, tools like Resemble.AI and Respeecher have demonstrated the potential for content creators, letting editors use voice clones to edit spoken word recordings. Voicemods AI voices are now targeted at steamers and content creators, and theyre part of a wave of progress that shows just how close we are to everyone being able to clone voices freely.

Voicemod also launched its PowerPitch technology recently, allowing users to create a persistent online voice identity for gaming and role play, work, school, or just regular calls. This technology can easily be used for fun and pranks, but it can also benefit the millions of people with voice disorders to improve problems with pitch, loudness, and quality. It also benefits some trans gamers. AI isnt being applied to PowerPitch just yet, but it seems its only a matter of time before youll be able to have your own AI voice you can use for meetings, Discord calls, or anything else.

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An executive assistant for every worker: Startup’s AI takes meeting notes, follows up on email, and more – GeekWire

Posted: at 2:00 am

Xemblys conversational assistant Xena interacts with an employee in Slack about scheduling and summarizing an upcoming meeting. (Xembly Image)

While Siri and Alexa are busy getting you the days weather forecast or tracking down the name of the capital of some distant country, Xena has work to do.

The newest name on the conversational artificial intelligence landscape isnt a voice-activated assistant like those employed by Amazon and Apple. But Xena will chat with employees and handle a number of tasks that can bog workers down on the job.

The tech is part of Xembly, a startup co-founded by CEO Pete Christothoulou, the founder and former CEO of conversational analytics company Marchex; CTO Jason Flaks, who was a leading contributor to the Xbox Kinect and HoloLens products at Microsoft; and CGO Peter Francis, former global growth leader at Qualtrics.

Xembly is a Madrona Venture Labs company and its early customers have included, among others, Twilio, Unearth and Pacaso. Spencer Rascoff, former Zillow CEO and co-founder of Pacaso, is a Xembly investor. Lightspeed Venture Partners is the startups lead backer and others include Ascend founder Kirby Winfield, DocuSign founder Tom Gonser, and former Microsoft CXO Julie Larson-Green.

Everyone deserves to be supported like the CEO and every company needs their workers focused on high value work, Christothoulou said about the desire to create a digital executive assistant for knowledge workers.

Advances over the past few years in AI and natural language processing have made that goal achievable and now Xembly aims to automate such things as scheduling meetings, creating agendas, taking notes, tracking action items, setting and managing to-dos, and optimizing schedules.

Xena is a conversational agent sitting on top of the Xembly platform. It can understand conversations in Zoom or Google Meet, on Slack, and in email. It detects intention and then surfaces that intention to accomplish tasks and create efficiency across those other workplace tools.

After a Zoom call this week with Christothoulou and Flaks, Xena emailed me a meeting summary complete with action items such as the need to follow up for screen grabs and a bulleted recap of our 30-minute conversation.

When I exit a meeting, at the end of the day, I need to send out notes, Flaks said. And whats most important is, recap the meeting for me, for people that didnt go, and tell me what the action items were. Thats a big deal. And thats been our core focus.

Launched in beta a year ago, Christothoulou initially set out to build something with Xembly that would rethink and improve meetings. The enterprise idea morphed into supporting workers in more ways.

The tech is complicated from a conversational AI standpoint Xembly has to be a good listener and an active participant in meetings.

We have to understand the whole dialogue, Flaks said. We have to maintain context, we have to understand if people are talking on top of each other. Xembly then has to turn all of that into a summary that is readable and helpful.

Christothoulou said competitors, such as the transcription service Otter, have adjacent tools, but no one is organizing a suite of products that sits across the worker ecosystem the way Xembly does.

Flaks has more than 20 years experience in AI, ML and speech recognition technology. He spent six years at Marchex with Christothoulou, engineering the companys conversational products. His experience has taught him that automation is a slippery slope.

If you can automate to the point that the user doesnt have to do really any work or very little work, they love it, Flaks said. If you wind up having to do more work than you would have had to do if you just did it yourself, then its not helpful anymore.

Xembly employs 20 people, mainly in the Seattle area. Christothoulou, who is based in Los Angeles, said Xembly is not monetizing right now and the software will be free for the foreseeable future.

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OMNIQ’s Q Shield AI-Based Safe City system, Selected in the City of East Dublin, Georgia To Combat Crime and Enforce Traffic Violations -…

Posted: at 2:00 am

SALT LAKE CITY, June 17, 2022 (GLOBE NEWSWIRE) -- OMNIQ Corp.(NASDAQ: OMQS) (OMNIQ or the Company), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, today announced that the Company has been selected by theCity of East Dublinto deploy its QShield vehicle recognition systems (VRS) technology and its cloud based citation management platform to identify any vehicle driving through the city which is on aNational Crime Information Center(NCIC) data base or theGeorgia Bureau of Investigations Database(GBI Database) and cite violators who drive through the city with outstanding traffic violations.

QShield, OMNIQs AI-based machine vision VRS solution uses patented Neural Network algorithms that imitate human brains for pattern recognition and decision-making. More than 17,000 OMNIQ AI based machine vision sensors are installed worldwide, including approximately 7,000 in theU.S. Based on superior accuracy and patented features like identification of make and color combined with superior accuracy based on the sophisticated algorithm and machine learning that largely depends on accumulated data provided by thousands of sensors already deployed.

Momentum continuous with rapid growing demand for Q Shield, following the successes with our first safe city deployments. Q Shield proves itself as a major force multiplier for law enforcement. East Dublin follows other cities in Georgia taking advantage of our revenue share opportunity. By offering a revenue model economic structure we have created a win-win situation for the people and authorities and more importantly we are creating safer cities with unbiased accountability of the citizens.

Taking care of today's problems and preventing tomorrow's disasters is our core strategy. Shai Lustgarten, CEO.

QShield, OMNIQs VRS solution will be installed in 2 key intersections throughout the city to efficiently and accurately capture vehicle data, including license plate number, color, make, and model. QShields technology will also be used to provide local law enforcement with timely alerts for any vehicle on a federal, state, and local law enforcement wanted list in addition to enforcing the traffic violations above.

About OMNIQ Corp:

OMNIQ Corp. provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The technology and services provided by the Company help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.

OMNIQs customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.

The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information please visitwww.omniq.com.

Contact:

Corporate Contact

Koko Kimball

(385) 758-9241

IR@omniq.com

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Hobbled Economic Performance during Modi’s Eight Years: Solution has been the Problem – HW News English

Posted: at 1:59 am

Mr. Modi has completed 8 years as PM. His achievements have been extolled by the government and the ruling party. No celebration was possible in the last two years due to the grim situation brought about by the rampaging pandemic and the weak governance that was on display. Lost ground was sought to be made up (till the storm erupted on the blasphemous statements by the ruling party leaders) by highlighting the 8 years and not just the 3 years of the second stint.

The government is taking credit for Indian economy becoming the fastest growing (8.7%) major economy in the world. But, there are doubts about this figure. The picture is clouded by high retail inflation at 7.8%, fiscal deficit of 6.3%, unemployment at around 8%, labour force participation rate at 40%, consumer confidence at 72, current account deficit rising rapidly, foreign exchange reserves dipping and the rupee declining against the dollar.

A distinction needs to be made between the first 5 years and the crisis ridden last 3 years. By talking of the 8 years government could show case schemes like, Jan Dhan, Ujjwala, Kisan Samman Nidhi, toilets for all, etc., to mask the crisis of the last 3 years. Many of the schemes like, Aadhar, electrification, toilets, housing for all and right to food are continuing schemes from the past. Credit can nonetheless be taken for pushing them further. But, the first 5 years were also crisis ridden though for a different reason.

The main difference between the two periods is that in the first 5 years, the crisis in the economy was induced by policies while in the subsequent 3 years the crisis emanated from events beyond the governments control and aggravated by inadequacy of its response.

Pro-business, `supply side policies, unsuited to the needs of the country, have been a constant through the 8 years because of the ruling partys ideological baggage. Before coming to power, it had decried welfare schemes (like, MGNREGS) initiated by the previous government. However, it has been forced to continue and enlarge these schemes since its policies have led to a growing crisis in the lives of the marginalized. These schemes perhaps prevented a social explosion.

The government has claimed that it has pushed for structural changes which will benefit the economy in the long run. For instance, the implementation of the Bankruptcy code, GST, digitization, checking corruption, etc. While some of these are useful, many of them have proved to be counter-productive because they were implemented without adequate thought, like, in the case of demonetization, GST and digitization. The negative impact of these policies far outweigh the benefits from the other schemes.

Any economy growing at 5-6% per annum will show improvements in various socio-economic parameters, like, access to education, travel by air and ownership of mobile phones. These should not be allowed to obfuscate the underlying difficulties. For instance, Indias global rank improving from 10th to the 6th or the emergence of a hundred unicorns only masks the challenges building up in society and especially for the marginalized. The challenges that emanate from the macro aspects of policies have overwhelmed the achievements of specific policies.

The first five years saw the announcement of demonetization in 2016, implementation of the structurally flawed GST in 2017, the NBFC crisis in 2018 and push for digitization. These economic shocks were administered in quick succession aggravating the underlying crisis caused by the `supply side policies and caused further distortion of the structure of the economy.

The vast unorganized sector, employing 94% of the work force, has been irrevocably damaged. This is the economys marginal sector which provides refuge to those who are left out of the more lucrative organized sector which is capital intensive and offers few jobs. The unorganized sector consists of the self-employed, small and micro units. It is well documented that the shocks referred to above marginalized this sector further. Employment and incomes declined leading to a fall in demand and slowing down of the economy.

The shocks also vitiated the data base of the economy. Since data for the unorganized sector comes occasionally, in the intervening years, it is proxied by the organized sector. But once the structure of the economy changed due to the shocks, this method becomes irrelevant. The declining unorganized sector cannot be represented by the growing organized sector.

This is the invisibilization of the unorganized sector. If this sector is not independently measured and the rate of growth looks good then policy, especially to take care of it, is not required.

II.1 Background to the First Period

During the UPA II regime, the economy faced a crisis in 2012-13 due to an external shock impacting the balance of payments, high inflation, exposes of big corruption cases and the policy paralysis. This has enabled the government of Mr. Modi to pin the blame for all its problems on the mismanagement of the UPA II. Is this true?

During the crisis of 2012-13 in Q3 and Q4 the economy grew at a tepid 5% and 4.44% respectively. In 2014, when Mr. Modi became the PM the economy had already recovered to grow at 7.76% and 8.52% in Q1 and Q2 respectively. Subsequently, growth touched 8% several times. The crisis of 2012-13 had got washed out.

But from Q4 of 2017-18, there was a secular decline in the official growth rate from 8.1% then to 3.1% in Q4 of 2019-20, just before the pandemic hit India. This decline was a consequence of the policies pursued by the Modi government.

Assuming that the official data is correct, the average growth rate was less than the potential (the peak rate) by 2.5%. For an economy of about Rs.170 lakh crore, the loss was Rs.8.5 lakh crore in two years. If to this one adds the loss due to the decline in the unorganized sector (say, 5%), the total loss would be about Rs.13.5 lakh crore. Mostly this was the loss of the unorganized sector and it far exceeded what all the welfare schemes gave them.

II.2 Growing Disparities

Income surveys are difficult to carry out since people do not report correctly. Yet, the PRICE survey shows that the bottom 60% lost incomes between 2015-16 and 2020-21 while the richest 20% gained 39% in income. This is partly a result of the pandemic. The implication is that there is rising disparity in the country and rising distress of the bottom half. The Delhi Socio economic survey of 2018 projected to the all India level showed that 90% of the households spent less than Rs.10,000 per month and 98% spent less than Rs.20,000 per month. This indicates the extent of poverty in 2018. These figures when combined with the PRICE survey suggest that poverty increased dramatically during the pandemic. But for the governments provision of a few essentials like, foodgrain and gas, poverty would have been worse.

Data on wealth disparity released annually by OXFAM and Credit Suisse presents an even starker picture. They show that most of the wealth is with the top 1% (51.5%) and the top 10% (77.4%). The bottom 60%, only had 4.7%. The `supply side policies aggravate the income and wealth disparities due to their focus on giving concessions to the well-off.

The poor have politically responded to the welfare schemes by voting for the ruling party except where the opposition was strong. They do not link policies to the slowing economy and to their loss of incomes.

The ruling party itself realized the failure of demonetization and the crisis due to GST. While these were announced with much fanfare, they have not been used as election campaign planks.

In the second term, starting May 30, 2019, the economy continued to decelerate. The government persisted with `supply side policies rather than change track. For instance, Corporation tax rate was reduced. It led to a decline in direct tax collection and an increase in the Fiscal Deficit without stimulating additional investments and boosting the economy. The investment rate in the economy fell to 32.2% from 32.7% the previous year. It was 35% in 2012.

The situation is aggravated by the pandemic and now the Russian invasion of Ukraine. The world is headed to a new `Cold war with severe global disruption of supplies. While these are not of governments making, the issue is how well has it coped with them?

In 2007, when the Global Financial crisis hit the world, Indias economic parameters were robust. That was not the case in 2019-20, growth rate had dipped, fiscal deficit was higher and exports were stagnant. So, the economy found it difficult to tackle the unprecedented challenge posed by the pandemic. The government needed to change track, but it persisted with the same `supply side policies. The marginalized sections though hard hit were provided only a minimal amount (about 1.5% of GDP). So, among the major economies, India faced the sharpest decline of 24%.

The suddenness of the lockdown in March 2020 impacted the marginalized severely. The mass migration witnessed in India in terrible conditions was not seen anywhere else in the world. It also exposed the pitiful conditions of living of the vast majority of Indians in spite of the claimed success of the welfare schemes.

The crisis in the unorganized sector meant decline in employment generation, rising under-employment and low Labour Force Participation Rate (LFPR). LFPR declined from 47% in 2016 to 40% in 2021. The decline is particularly sharp for women. The implication also is a) that 60% the working age population is not working, b) large number of people in this group are not even looking for work, c) the unorganized sector is declining and d) with so many people withdrawing from the workforce, growth rate of the economy cannot be robust. The data also shows that the more educated a young person, higher the level of unemployment she faces.

III.1 Government Overconfidence

The government displayed overconfidence. In spite of warnings about a second wave, it did not prepare in advance and there was devastation with unprecedented number of deaths and a health crisis. Though the government denies it, according to some experts millions died unrecorded. The preparation for vaccinating the population was tardy. In spite of India being the largest manufacturer of vaccines, the vaccination drive started on January 16, 2021 with a plan to vaccinate 1.5 crore frontline workers, etc. in 1.5 months. At that rate it would have taken 23 years to vaccinate the entire population. Later, vaccination was speeded up but by then the Delta wave had taken its toll.

`Supply side policies, to favour businesses, led to initiation of changes in labour laws and trade in farm produce. It was assumed that during the pandemic opposition would not be able to mount a challenge. The farmers protested strongly for over a year and forced the government to retreat.

Disinvestment of PSUs is another `supply side policy. It weakens the governments capacity to intervene in the economy precisely when the need is for a stronger public sector to boost the economy given the crisis brought about by the pandemic and now the war.

The welfare schemes saved the day for the poor who received free rations and cooking gas, etc. But this highlights the contradiction in policies. The macro policies are marginalizing the poor while the micro policies are trying to give them the basics to survive. This cannot be a robust solution since it raises the fiscal deficit which the `supply side economists frown upon. As the budget deficit grows there would be pressure to dilute these policies leaving the poor in the lurch since their incomes would not have increased due to lack of employment.

Governments claim that it has managed to check the growing black economy is not borne out by evidence. Yes, major cases like the 2G scam have not erupted during the last 8 years. But, big scams like, the Rafael deal, massive drug haul at the Adani port in Mundra, corruption in cooperative banks and their failure, havala through banks (even PSU banks) have been reported. They have not been pursued vigorously by the media which is tightly controlled by the rulers. Smaller cases are being reported daily. During the Delta wave, there was massive black marketing of oxygen cylinders, medicines, etc. but no one has been prosecuted.

The government has pointed to the rise in stock market valuations in spite of the pandemic as an indication of global capitals confidence in India. This has largely been a speculative rise since the profits do not justify such high valuations. That is why the markets have declined in the last 6 months as foreign capital has pulled out consequent to the US Fed raising interest rates and reducing liquidity.

The war in Ukraine and the new `Cold War between two capitalist camps will further disrupt the already fragile global supply chains. Thus, the high levels of inflation are likely to persist and production will not only decline but a recession is possible. One can say, the Indian economy is in stagflation.

The pandemic was leading the world to a `new normal with many new challenges and the war is aggravating them and adding newer ones. There is likely to be de-globalization and de-dollarization which will throw up new challenges for employment, exports, finance and technology. The unorganized sector at the bottom will get further marginalized.

In brief, the policies considered to be the solution are the problem. `Supply side policies to favour businesses dont work when demand is short. They aggravate stagflation. Government counts as its success the welfare policies targeted at the poor. Given their marginalization, these policies have become a necessity to forestall social collapse. The economy is not growing at the officially claimed rate but much less than the potential. This has depressed their incomes and this loss far exceeds what they get through the welfare policies.

The policy stance needs a basic change. Invisibilization of the unorganized sector in data and policy has to be ended. That would boost demand and simultaneously reduce supply bottlenecks within the country.

The answer to how is India doing economically depends on who one asks. The organized sector will largely say it is doing well. But, the vast majority of Indians working in the unorganized sectors farmers, workers, self-employed, artisans, micro sector, etc. will answer in the negative. When they go to vote, for social and political reasons, they may favour the ruling dispensation, especially where the opposition is weak. So, electoral victories cannot be read as an endorsement of the economic performance of the ruling dispensation in the last eight years.

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Hobbled Economic Performance during Modi's Eight Years: Solution has been the Problem - HW News English

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Over 70 Crypto Currencies Have Lost 90% Of Their Value Since Their Peak, Bitcoin Rises – Outlook India

Posted: at 1:59 am

The crypto markets abrupt decline has caused the prices of 72 of the top 100 tokens to drop by more than 90 per cent from their all-time highs (ATH), crypto tracking site CoinGecko has said.

According to data, Bitcoin was the most valuable cryptocurrency in the world, and it has dropped more than 30 per cent in the last seven days and is now trading at less than 70 per cent of its November high of $69,000. Ether, the second-largest cryptocurrency, has also fallen 78 per cent from its November peak of $4,878. During the market collapse, which began in April this year, nine of the top-10 cryptocurrencies have lost more than 90 per cent of their value.

Binance Coin, Cardano, and Solana, all of which are in the top-10, have dropped by 68-88 per cent. According to the data, the top-10 tokens have lost an average of 79 per cent in the last two months, while the top-20 coins have lost an average of 81.1 per cent since their all-time high.

The price of Bitcoin has fallen from around $41,000 three months ago to around $20,000 at the time of writing. Bitcoins market cap fell from nearly $800 billion to under $400 billion in the same period, according to Coinmarketcap.

The bear market has had an impact on the community and the crypto industry as a whole. Due to the slump, Coinbase, the crypto industrys poster child, revealed earlier this week that it would be laying off 18 per cent of its workforce, or about 1,100 individuals. This moment of crypto winter, according to billionaires Tyler and Cameron Winkelvoss, is a contraction phase that is settling into a period of stasis. The current socio-economic and geopolitical crisis has just added to the chaos.

Furthermore, INTEX, an Indian multinational electronics manufacturing company, has announced the adoption of 5ires Blockchain to enter Web 3.0. The company said that by adoption, it would embark on a new technological revolution in the retail industry.

We are pleased to join with 5ire. Web 3.0 will open up a plethora of new business opportunities. The level of efficiency will skyrocket. It will result in increased transparency, because decentralisation is at its foundation. Its a step towards a more sustainable world. We are at the start of a new era, said Intex director Keshav Bansal.

Crypto Prices

The price of Bitcoin in the cryptocurrency market rose by 0.04 per cent in the last 24 hours, and it was trading at $21,114.64 at 4:30 pm IST. According to Coinmarketcap.com, its dominance in the crypto market is currently at 44.35 per cent, down by 0.11 per cent in the last 24 hours.

In the last 24 hours, Ethereum (ETH) was trading at $1,102.32, down by 1.23 per cent, while Binance Coin (BNB) was up by 1.01 per cent during the same time period, and it was trading at $218.76. Solana (SOL) was up by 1.98 per cent to $31.86, while Cardano (ADA) was up by 1.25 per cent to $0.4951.

Meme Coins

Dogecoin was trading at $0.05772 at 5:00 pm IST, up by 2.70 per cent on Coinmarketcap.com. Its rival, Shiba Inu, was up by 1.55 per cent, and it was trading at $0.000008238. Samoyedcoin was up by 0.53 per cent, and it was trading at $0.004098, while Dogelon Mars was up by 2.56 per cent, and it was trading at $0.0000002765.

Overall Scenario

According to Coinmarketcap.com, the global crypto market cap was at $908.20 billion, a decrease of 0.14 per cent in the last 24 hours, while the total crypto market volume was $75.24 billion, a decrease of 29.77 per cent.

SIRIN LAB TOKENS (SRN) was the biggest gainer, gaining 1,371.19 per cent. It was trading at $0.0204 at 4:30 pm IST, according to Coinmarketcap. In contrast, Etherstones (ETHS) witnessed the maximum loss and fell by 100 per cent. It was trading at $0.000000137.

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Over 70 Crypto Currencies Have Lost 90% Of Their Value Since Their Peak, Bitcoin Rises - Outlook India

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