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Daily Archives: October 31, 2023
Neurobiological mechanisms of ECT and TMS treatment in … – BMC Psychiatry
Posted: October 31, 2023 at 1:41 pm
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Mishimoto Partners with Redwood Logistics for Seamless TMS … – Supply Chain Dive
Posted: at 1:41 pm
CHICAGO
Mishimoto, the global leader in performance cooling products for automotive enthusiasts, faced a critical challenge when a sudden provider change jeopardized their client deliveries. To overcome this disruption, Mishimoto turned toRedwood Logistics(Redwood), one of the fastest growing modern 4PL providers in North America, for a solution that would ensure continuity in their operations.
Founded in 2005, Mishimoto has been providing cooling system upgrades for a wide range of applications, including sport compacts, powersports, trucks, Jeeps, muscle vehicles, daily drivers and classic cars. When faced with the sudden provider change, the company sought to establish new rates, set up a rating and execution platform, support both full truckload (FTL) and less-than-truckload (LTL) shipments, and train and launch operations at two locations. Furthermore, the implementation of a transportation management system (TMS) was required to manage these complex logistics operations efficiently.
Redwood was selected to overcome this challenge as the company displayed remarkable agility and expertise. In less than two weeks, Redwood set up a TMS instance, provided essential pricing and training, and successfully launched operations at two locations. This rapid-fire implementation ensured that Mishimoto experienced no disruptions in client deliveries during this critical period.
Marc Barrer, Vice President of Operations at Mishimoto, said, Redwood's swift and reliable solutions enabled us to overcome a challenging situation with a sudden break in a provider relationship and continue our deliveries without any disruption. Their exceptional support, including TMS implementation and LTL and parcel management, has resulted in significant cost savings and positioned Mishimoto for continued success in our global market.
In addition to averting any client disruptions, Redwood Logistics provided a comprehensive solution that set Mishimoto up for long-term success. This included not only LTL management but also parcel procurement optimization through Redwoods carrier contract assessment and mediation service, resulting in substantial cost savings. Key Results Include:
Redwood continues to be a trusted partner for companies in the automotive aftermarket and performance cooling products industry, providing innovative solutions to streamline supply chain operations and reduce costs, said Mike Reed, Chief Product Officer, Redwood. As a modern 4PL solution we were best positioned to offer tailored and customized physical and digital supply chain solutions to help Mishimoto overcome their provider disruption.
To read the complete case study,follow the link here.
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For more information, visit redwoodlogistics.com
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3 benefits of integrating WMS and TMS software – TechTarget
Posted: at 1:41 pm
Both a warehouse management system and a transportation management system can help companies with critical warehouse operations and integrating them can benefit organizations even further.
Integrating a TMS and WMS improves visibility into warehouse processes and can help improve scheduling. Supply chain leaders should also keep in mind that integrating a TMS and WMS is not always possible, depending on the systems.
Learn more about WMSes and how integrating them with a TMS can help improve operations.
A WMS application manages warehouse inventory, including product status, inventory quality and inventory location.
The WMS also helps with picking and packing by providing workers with location and quantity data.
In some cases, WMSes offer mobile functionality so workers can access the system while using a forklift or moving around the warehouse floor.
Companies with a large amount of warehouse products that workers must load and unload into trailers or trucks often use a TMS platform.
A TMS helps support load and route scheduling as well as compliance documentation and provides real-time visibility into product locations.
Using WMS and TMS separately can be challenging for warehouse workers, so integrating a WMS and TMS can improve daily operations.
Here are some other benefits of integrating the two systems.
Integrating a WMS and TMS reduces the need for data entry because workers won't have to manually key in load information into the TMS. The information will automatically transfer from the WMS to the TMS.
WMS-TMS integration also enables employees to track the status of each load and share the information with customers and internal staff if needed without having to switch between systems.
For example, employees of a manufacturer with integrated TMS and WMS can find out if the materials and ingredients for a scheduled production order will arrive in time.
This visibility also enables warehouse workers to plan ahead for shipments.
TMS-WMS integration enables companies to optimize their resources by improving the scheduling of trucks, drivers and warehouse staff.
Since a TMS-WMS integration provides visibility into truck and driver availability, users can schedule warehouse workers more effectively.
However, supply chain leaders should keep in mind that not all WMS and TMS platforms can be integrated. During the software vendor selection process, purchasing team members should ask whether the vendor can support system integration.
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Trinium and BlueCargo join forces to increase resiliency and agility … – American Journal of Transportation
Posted: at 1:41 pm
Trinium, the leading provider of Transportation Management System (TMS) solutions for drayage operations in North America, and the home of your dispatch operations, has joined forces with BlueCargo, the pioneers behind the Per Diem Fighter, designed to secure empty container returns, stop the per diem clock, audit per diem bills, and facilitate real-time or historical fee recovery. Today, they are thrilled to announce this partnership aimed at integrating and monitoring all container activities and movements in real-time, including late fees, bringing users of both platforms a comprehensive back-end operational solution.
Unlocking container management efficiency: solving the demurrage and detention cost challenge
Container drayage is all about maximizing resource utilization. It's essential to deploy every truck and driver in your fleet efficiently to minimize idle time, reduce costs, and boost productivity. This not only improves your bottom line but also promotes a more sustainable and environmentally responsible operation.
Detention and demurrage (D&D) charges are financial penalties imposed on containers that are held at terminals or facilities beyond their allotted free time. These charges can have significant consequences for container drayage operators and avoiding them may not always be in your control.
For instance, a recent survey of D&D tariffs at 65 global ports reveals that 11 are still higher than 2020 levels, with seven of them located in the US. Several factors contribute to this situation, including increasing energy and labor costs, rising land expenses, and port fees. Given these challenges, its unlikely US port charges will return to normal any time soon.
As our sector continues to grapple with the ripple effects of the pandemic and ongoing economic constraints, its clear that D&D charges have the potential to exert even more financial pressure on your business.
This is where technology plays a crucial role. By utilizing advanced software, you can expedite container movements, ensure timely pick-ups and drop-offs, and proactively manage your fleet, ultimately mitigating the impact of D&D charges on your financial performance.
How Trinium and BlueCargo are Empowering Smarter Container Management
With an extensive presence in every port and rail market across the United States and Canada, Trinium TMS is a comprehensive enterprise system purpose-built for modern container drayage and intermodal trucking companies.
We believe in providing our customers with best-in-breed technology solutions, which is why we are proud to partner with BlueCargo, the leading platform for detention and demurrage mitigation.
With the integration of BlueCargo's end-to-end dispute system into Triniums advanced TMS, you now have state-of-the-art per diem audit and dispute resolution tools at your fingertips.
Streamline per diem disputes
With BlueCargo's AI-powered technology, you can recover up to 75 percent of disputable per diem invoices, centralize disputes, and reduce invoice processing time by 95 percent. It efficiently identifies rule violations, automatically audits per diem charges for accurate savings calculations, and enables you to review potential invoice savings.
Additionally, the platform allows you to gather supporting evidence and submit documentation to the SSL for dispute initiation. You can easily track and manage all per diem disputes, following up on email threads with SSLs until resolutions are achieved.
Trinium TMS and BlueCargo a powerful combination
Today, we all rely on technology to streamline processes, improve productivity, and stay competitive. The ability to seamlessly integrate new tools and applications into our digital ecosystems is crucial to staying ahead.
However, closed operating systems can present significant limitations, hindering your ability to expand and optimize your container drayage capabilities. Thats why Trinium partners with leading drayage technology specialists, like BlueCargo, to create a powerful ecosystem of tools and resources that empower your teams to make data-driven decisions, reduce costs, and improve overall performance.
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Psychiatrist Convicted of Billing Medicare and Private Insurance … – Department of Justice
Posted: at 1:41 pm
BOSTON A Natick psychiatrist was convicted by a federal jury yesterday of billing Medicare and private insurance companies for over $11 million in treatments he did not provide and obstructing justice in an attempt to conceal his crimes.
Gustavo Kinrys, 52, of Wellesley, was convicted of seven counts of wire fraud, six counts of false statements relating to health care matters and one count of obstructing a criminal health care investigation. U.S. District Court Judge Denise J. Casper scheduled sentencing for Jan. 31, 2023. Kinrys was arrested and charged in December 2020.
Dr. Kinrys shamelessly billed for over $11 million in treatment from Medicare and private insurers treatments he never provided. He exploited our healthcare system and showed callous disregard for patient well-being, said Acting United States Attorney Joshua S. Levy. This conviction should send a stern message: healthcare fraud will not go unpunished, and those who exploit our vital healthcare system for personal gain will face the full extent of the law.
Through his scheme to defraud the Medicare program, the defendant stole taxpayer funds and violated the publics trust in his position as a physician, said Roberto Coviello, Special Agent in Charge of the U.S. Department of Health and Human Services, Office of Inspector General. This conviction sends a clear message that we will hold accountable those who exploit our federal health care system for personal gain, and we will not tolerate attempts to obstruct our pursuit of justice.
This conviction is a big win for taxpayers who were cheated when Dr. Kinrys fraudulently billed Medicare and private insurance companies for more than $11 million for medical treatments he never provided and then obstructed our investigation in an attempt to conceal his crimes, said Jodi Cohen, Special Agent in Charge of the FBI Boston Division. Healthcare fraud is not a victimless crime. It can raise health insurance premiums, expose patients to unnecessary medical procedures, and increase taxes. Anyone involved in, or entertaining similar activity, should know the FBI and our partners will not hesitate to pursue those trying to steal from our countrys vital health care system.
This matter illustrates the commitment of all agencies to combat medical billing fraud which affects all citizens. The Insurance Fraud Bureau of Massachusetts places a high priority on fighting this type of insurance fraud. Our continuing collaboration with our partners is critical to successfully fight insurance fraud, said Anthony M. DiPaolo, Executive Director of the Massachusetts Insurance Fraud Bureau.
Kinrys was a licensed psychiatrist who owned and operated Advanced TMS Associates, located in Natick, Mass. Among other services, Kinrys offered transcranial magnetic stimulation (TMS) therapy and psychotherapy to patients suffering from depression. TMS therapy is a noninvasive method of brain stimulation that uses rapidly alternating or pulsed magnetic fields to induce electrical currents directed at a patients cerebral cortex.
Between January 2015 and December 2018, Kinrys engaged in a variety of fraudulent billing schemes in which he sought and received reimbursement for services he did not render. For example, Kinrys billed Medicare and private insurers $10.6 million for thousands of TMS sessions he never provided, including over 8,000 sessions he claimed were provided to 74 patients who, in fact, never received a single session of the therapy. Kinrys billed Medicare and private insurers for hundreds of thousands of dollars worth of psychotherapy sessions he never provided, including over 900 face-to-face sessions he falsely claimed he provided while he was on vacation in locations like the Bahamas, Punta Cana, Dominican Republic, and the Czech Republic. On 382 occasions, Kinrys billed Medicare and private insurers for having provided more than 24 hours worth of psychotherapy services in a single day, including one day in July 2017 when he claimed he had provided hour-long psychotherapy sessions to 70 different patients all while outside the United States on vacation.
To further his fraudulent billing scheme, Kinrys made numerous false statements to his patients, the billing company with which he worked and the insurers to whom he submitted claims seeking reimbursement. When Medicare, private insurers and the Department of Health and Human Services (HHS) sought records from Kinrys pertaining to certain of his claims, he took steps to conceal his fraudulent conduct by making false representations and creating false documentation purporting to show that he had provided thousands of treatments he had billed for, but never rendered. For example, in response to a July 2018 subpoena from the HHSs Office of Inspector General seeking medical records for 10 of his patients, Kinrys created documents and ordered his office workers to create documents falsely stating that those patients had received dozens of treatments they had never been provided and falsely representing that the condition of those patients was improving. The wire fraud charges provide for a sentence of up to 20 years in prison, three years of supervised release and a fine of $250,000 or twice the gross gain or loss, whichever is greater. The charges of false statements relating to health care matters and obstruction of a criminal investigation of a health care offense each provide for a sentence of up to five years in prison, three years of supervised release and a fine of $250,000 or twice the gross gain or loss, whichever is greater. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.
Acting U.S. Attorney Levy, HHS-OIG SAC Coviello, FBI Boston SAC Cohen and MA IFB Director DiPaolo made the announcement today. Assistant U.S. Attorneys Patrick M. Callahan and Christopher R. Looney of the Health Care Fraud Unit are prosecuting the case.
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FreightPOP TMS Application Earns Acumatica Certification – PR Web
Posted: at 1:41 pm
We proudly recognize FreightPOP as an Acumatica-Certified Application that masterfully utilizes the Acumatica platform to enable customers to execute their strategies and meet their evolving business needs.
Acumatica is a comprehensive, browser-based cloud ERP solution optimized for ease of use, adaptability, mobility, speed, and security. The ACA title highlights only outstanding development partners whose applications have met specific standards of excellence.
"Customers looking to stay competitive need flexible, responsive technology and resilient systems to thrive and grow," said Christian Lindberg, vice president of partner solutions at Acumatica. "Our ACA label is designed to help customers find those applications that are most capable of delivering. We proudly recognize FreightPOP as an Acumatica-Certified Application that masterfully utilizes the Acumatica platform to enable customers to execute their strategies and meet their evolving business needs."
To become an Acumatica-Certified Application, FreightPOP has demonstrated commitment to quality by passing the Acumatica software test and aligning to future Acumatica roadmap releases.
"Through the seamless integration of FreightPOP and Acumatica, we're empowering businesses to elevate their logistics game," said Jon Freeman, Head of Partnerships at FreightPOP. "This partnership isn't just about connecting systems; it's about connecting opportunities for growth and efficiency in supply chain management."
About FreightPOP
FreightPOP, based in Lake Forest, CA, is a leading provider of transportation management and logistics software. The company offers a comprehensive platform that helps businesses streamline their supply chain operations, optimize shipping, and achieve cost savings. With a focus on user-friendly solutions and exceptional customer support, FreightPOP is trusted by companies of all sizes to improve their logistics processes. Learn more by visiting http://www.freightpop.com.
Media Contact
Holly Heitmann, FreightPOP, 1 9494544602, [emailprotected], http://www.freightpop.com
SOURCE FreightPOP
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FreightPOP TMS Application Earns Acumatica Certification - PR Web
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AML RightSource Offers Support for Transaction Monitoring System Selection and Integration – Global Banking And Finance Review
Posted: at 1:41 pm
Consultation and TMS Integration Support for Financial Institutions Led by
AML RightSource Financial Crime Advisory Group
CLEVELAND (October 26, 2023) AML RightSource, the leading provider of Anti-Money Laundering (AML), Know Your Customer (KYC), and Bank Secrecy Act (BSA) compliance solutions, has expanded its Financial Crimes Advisory (FCA) services to financial institutions with expert support for transaction monitoring system (TMS) selection and implementation. This new offering complements AML RightSources capabilities that help clients validate and optimize existing technology investments to improve compliance programs.
With an increasing number of financial institutions contemplating replacing or upgrading their TMS because of outdated technology or inadequate capabilities, AML RightSources FCA team offers unparalleled expertise to assist in both the selection and implementation of solutions that are optimal for each clients specific needs and compliance operation. End-to-end support provided by AML RightSource includes identifying client requirements, development of RFPs, consultation on the selection of TMS vendors, vendor correspondence, contract negotiation, and leading the implementation process.
Focused solely on the challenges of financial crime compliance, AML RightSource offers consulting services, advanced technology, and boasts 4,000 employees working every day with AML compliance teams around the world. This concentration and scale give AML RightSource unique insights into how compliance teams can optimize their TMS and how transaction monitoring is evolving to deliver greater performance.
When selecting and implementing a new TMS, the AML RightSource FCA team works with clients to:
Most compliance leaders may handle a TMS change only once in their career. A successful compliance software switch is possible with careful planning and a knowledgeable team. AML RightSource has done this many times and is there to guide clients from start to finish, explained Chuck Taylor, Executive VP, Head of Financial Crimes Advisory at AML RightSource. With an implementation support partner like AML RightSource, clients get years of dedicated subject matter expertise, established vendor relationships, and in-depth technical knowledge. This helps bridge the gap between business goals and vendor requirements, ultimately leading to successful implementations.
About AML RightSource, LLC
AML RightSource is the leading technology-enabled managed services firm focused on fighting financial crime for our clients and the world. AML RightSource provides custom solutions to financial institutions, FinTechs, money service businesses, and corporations. Using a blend of highly trained anti-financial crime professionals, cutting-edge technology tools, and industry-leading consultants, AML RightSource assists clients with their AML/BSA, transaction monitoring, client onboarding (KYC), enhanced due diligence (EDD), and risk management needs. We support clients in meeting day-to-day compliance tasks, urgent projects, and strategic changes. Our global staff of more than 4,000 highly trained analysts and subject matter experts is the industrys largest group of full-time compliance professionals. AML RightSource is headquartered in Cleveland, Ohio. With our clients around the world, we are Reimagining Compliance. For more information, visit http://www.amlrightsource.com.
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Will Humanity solve the AI Alignment Problem? | by Enrique Tinoco … – Medium
Posted: at 1:38 pm
Image generated with DALL-E 3
Back when I was a kid, I remember one day playing the Solo campaign of Halo: Combat Evolved (The most epic game ever created, is not up to discussion; its just a fact). And I wondered, what would happen if suddenly the enemy NPCs became as smart as a real person playing the game? Would they attack fiercely? or would they rather improve tactics and ambush me in different ways, making the game unbeatable? Back then, of course, those were just my kids thoughts trying to find more challenging a game that I had already played for hundreds of hours, but now remembering and looking back at that idea, I see that it could come to reality in just a few years. With Large Language Models (LLMs) becoming more and more intelligent, their cognition abilities are improving every second and as many experts have mentioned in multiple forums, it is just a matter of time before we reach the Artificial General Intelligence (AGI), that artificial being capable of matching and surpassing human intelligence and for the first time in history, humans will no longer be the most intelligent species on the planet.
One of the main concerns in the AI field is that we are not certain of what will happen once the AI becomes as intelligent as a real person, how will we ensure that our objectives as a collective human species align with those of the Super Intelligence we have created?
We know that AI engineers are making their best to train their AI models following ethical guidelines, rooting in their code the need for a positive impact in society, to help us achieve everything that humanity has ever desired and walk with us down the path of success and evolution. But there is something that concerns many of the people working with AI, and that is the constant question: Is it possible that at some point AI will know better what is best for the planet and for Humanity? and is that outcome one that will make us feel good and more importantly, will we keep our freedom and free-will with that AI generated future?
When we think about a future in which AI has achieved Superintelligence is very easy to revisit in our minds the fictional worlds created by many authors and depicted in several movies. What if we are all sleeping, and the machines are suddenly the masters of our reality? What if AI will at some point realize that there is no possibility for a better world unless it gets rid of those nasty humans, despicable beings eager to consume everything on their path? Do we really stand a chance against a super-powerful being, connected to everything, aware of everything and trained with all the data required to predict our every movement, our every thought?
That is a future that we certainly would not like to be in, and according to a large group of experts it is highly improbable, but that does not mean that we shouldnt be doing something about it and actually, there are actions being done right now to prevent that. It has been determined in several forums that a multidisciplinary effort is required in order to solve all those concerns and prevent any apocalyptic scenario. It is extremely important that we as society create the right conditions for these new technologies to flourish in an adequate, ethical and responsible environment.
Because of the importance of this matter, ensuring that AI acts accordingly to Human values, ethics, interests and do not pose risks, there are active efforts in multiple fronts to tackle these challenges.
Institutions such as MIRI (Machine Intelligence Research Institute) are encouraging individuals with a background in computer science or software engineering to engage in AI risk workshops and work as engineers at MIRI, focusing on the AI alignment problem.
OpenAI has recently launched a research program named, Superalignment with the ambitious goal of addressing the AI alignment problem by 2027. They have dedicated 20% of their total computing power to this initiative.
Also, the MIT Center for Information Systems Research (CISR) has been investigating AI solutions to identify safe deployment practices at scale, emphasizing an adaptive management approach to AI alignment.
Additional to these, there are efforts focused in building strong frameworks and standards to guide the design and deployment of AI systems. One example of this, is the AI Risk Management Framework (AI RMF). It is designed to help manage the risks associated with AI systems. It guides the design, development, deployment, and usage of AI systems to promote trustworthy and responsible AI. In its words the AI RMF seeks to Take advantage of and foster greater awareness of existing standards, guidelines, best practices, methodologies, and tools for managing AI risks.
Guiding principles have been established by the most important Tech companies in the world such as Microsofts Six Principles for AI Development and Use. These are: Fairness, Reliability and Safety, Privacy and Security, Inclusiveness, Transparency, Accountability.
Engaging with new technologies, especially with AI can be both exciting and challenging. As we hear about new developments each week it is very important that we remain informed, train ourselves on how to use them for our benefit, keep track and participate in the initiatives that seek to ensure that all AI projects adhere to ethical practices and remain transparent on the data usage, protecting users and society in general from any misuse.
As mentioned previously, AI development is a constant work that requires the abilities, experience and skills from many professionals in different fields. Engage in the conversation, participate in forums and share your knowledge so that we all contribute to this great leap in human development. AI landscape is rapidly evolving, make sure you are on the path of continuous learning and leverage this technology to enrich your life, improve your skills, connect with others, and contribute positively to society.
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Will Humanity solve the AI Alignment Problem? | by Enrique Tinoco ... - Medium
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The Tesla Trap; Ellison Going Nuclear; Dont Count Headsets Out – Equities News
Posted: at 1:38 pm
A lucky guy in California recently snagged the winning ticket for the $1.7 billion Powerball lottery.
Overnight billionaire. Thats the dream, I guess.
Americans spend more on lottery tickets than sporting events books movie tickets music and video gamescombined. Wild!
Of course, the odds of winning the Powerball are 1 in 292 million.
A much surer way to get rich is investing in great businesses profiting from disruption.
You only need to invest in oneAmazon AMZN ,Nvidia NVDA , orMicrosoft MSFT stocks that have surged 50,000% or more to change your life.
Finding one early on isnt easy but its certainly doable.
Heres whats happening
Electric vehicle (EV) pioneerTesla TSLA just announced lackluster earnings results.
Teslas stock is down 40% over the past two years.
Herein lies the danger of investing in the EV revolution.
Sales of battery-powered cars more than doubled in the past two years. So buy the top EV makers to profit, right?
This strategy has been a disaster lately. Heres how the top three EV stocks have fared:
Anyone can invest in fast-growing trends like EVs.But you must pair this with great businesses.
And unfortunately, there are no great EV businesses yet. Making battery-powered cars is cutthroat. Even Tesla makes less money on every car than it did five years ago!
This is why we only buy stocks that hit the sweet spot. Only great businesses profiting from megatrends qualify for ourDisruption Investorportfolio.
There are backdoor winners to the EV megatrend. More on these opportunities soon.
Larry Ellison, founder of software giantOracle ORCL , announced on Twitter hes funding a new approach to clean nuclear energy.
Guys,the nuclear renaissance Ive been writing aboutisreallypicking up steam.
Imagine (friendly) aliens land on Earth tomorrow. They discover nuclear power plants that generate thecleanest, safest, most reliable energyknown to man.
Theyre told America has only built one new reactor in the past 40 years and instead burns dirty coal and gas to keep the lights on.
Theyd think were a bunch of clowns!
The single-worst decision America made in the last 100 years was turning its back on nuclear energy.Thankfully, were righting those wrongs and re-embracing nuclear.
Larry Ellison is in. So is Microsoft.
It just announced it plans to build a fleet of nuclear reactors to power its data centers.
Ill say that one more time.
Microsofts data centers which power artificial intelligence (AI) tools like ChatGPT could soon run on clean, green, atomic energy.
Nuclear-powered AI superintelligence.Our futures so bright, I gotta wear shades.
This renaissance will cause demand for the fuel powering nuclear plantsuraniumto spike. In fact, uranium prices are breaking out to 15-year highs as I type.
Uranium miners likeCameco CCJ are going highermuch higher.
Someone on Twitter uploaded a video of themselves learning to play the piano through Meta Platforms META new Quest 3 headset.
You can now learn to play the piano (or any instrument) without taking expensive lessons or even owning a piano!
This is a total game-changer for wearable tech.
New devices catch fire only when they allow you to do something brand new. PC sales took off when the internet burst onto the scene. iPhone sales rocketed when killer apps like Instagram emerged.
AI is the killer app for wearables.
Theres no way well interact with AI tools through a six-inch glass screen.
Instead, well get piano lessons from our AI robo-tutor through wearable technology.
Metas Quest 3 isnt AIs iPhone moment. But its coming. Have you seen the speed at which wearable tech is improving?
Its obvious a major breakthrough is approaching.
Like always, there will be new winners and losers. Look atApple AAPL vs.Nokia NOK Nokia since the iPhone launched:
Three companies are vying to create the iPhone for the AI age:
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The Tesla Trap; Ellison Going Nuclear; Dont Count Headsets Out - Equities News
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Future Investment Initiative emphasizes global cooperation and AI … – Saudi Gazette
Posted: at 1:38 pm
Saudi Gazette report
RIYADH The Future Investment Initiative (FII) engaged in a dynamic session titled "Making Change and New Standards," that shed light on the pivotal role of international cooperation and the utilization of technologies, including artificial intelligence (AI), for the betterment of humanity.
Yasir Al-Rumayyan, governor of the Public Investment Fund (PIF) and chairman of the FII Institute, underscored the Kingdom's commitment to renewable energy, stating that it is projected to constitute 50% of the country's energy sources by 2030.
He emphasized that progress in the Kingdom is advancing rapidly, guided by well-defined plans and supported by strong political will. Al-Rumayyan emphasized the critical importance of investing in renewable energy to ensure a more sustainable future.
Speaking on AI, Al-Rumayyan highlighted the need for collaborative efforts on a global scale to advance the AI experience.
He stressed the significance of establishing partnerships that generate AI applications focused on benefiting humanity, especially as the future transitions towards artificial superintelligence. Achieving balance in AI usage becomes paramount.
Participants, including directors of major global companies, discussed the vital role of supportive and investment-stimulating financial services.
They emphasized the need for incentives that contribute to enhancing opportunities, measuring economic competitiveness, and building resilience against economic shocks on an international scale.
The importance of creating a healthy competitive environment that fosters global economic growth was reiterated.
The participants stressed the need for global partnerships to achieve breakthroughs in various sectors, including mining and health.
They highlighted the impact of modern technologies, including AI, in finding solutions to challenges in pharmaceutical industries, addressing climate change, and increasing women's participation in the economy.
The interactive session at the FII showcased a collective commitment to leveraging technological advancements and fostering international collaboration for the benefit of humanity and the global economy.
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Future Investment Initiative emphasizes global cooperation and AI ... - Saudi Gazette
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