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Archive for the ‘finance’ category

Dec 26, 2024

SRP Federal Credit Union reports data breach affecting more than 240,000 people

Posted by in categories: cybercrime/malcode, finance

A data breach earlier this year at SRP Federal Credit Union has left nearly a quarter-million people exposed to possible identity theft and account fraud.

The ransomware group Nitrogen has claimed responsibility for extracting 650 gigabytes of sensitive customer data, according to reports filed recently with the state attorney general’s offices in Texas and Maine. The breach has been publicly reported throughout December by cybersecurity analysts, financial technology companies and national news media.

Screen captures of what seemed to be raw customer data from SRP were posted on social media through bogus accounts as early as Dec. 5.

Dec 25, 2024

Why Timekeeping is Now on the Verge of a Giant Leap Forward in Accuracy

Posted by in categories: finance, mobile phones

Time is vital to the functioning of our everyday lives: from the watches on our wrists to the GPS systems in our phones. Communication systems, power grids, and financial transactions all rely on precision timing. Seconds are the vital units of measurement in timekeeping.

Surprisingly, there is still debate over the definition of the second. But recent advances in the world’s most accurate forms of timekeeping may have just changed the game.

Accurate timekeeping has always been part of humankind’s social evolution. At the Neolithic monument of Newgrange in Ireland, a special opening above an entrance allows sunlight to illuminate the passage and chamber on the shortest days of the year, around December 21st, the winter solstice.

Dec 24, 2024

Artificial Intelligence Startups Attracted 25% Of Europe’s Venture Capital Funding

Posted by in categories: finance, robotics/AI

Venture funding into Europe is heading for a flat year, but this may obfuscate the fact that European AI startups are thriving.

Dec 18, 2024

AI Startup Databricks Hits $62 Billion Valuation In Record VC Round

Posted by in categories: finance, robotics/AI

Databricks has secured a $62 billion valuation after raising a whopping $10 billion in one of the largest venture capital funding rounds in history!

Dec 17, 2024

What Is Entropy? A Measure of Just How Little We Really Know

Posted by in categories: energy, finance, military, physics, space

The notion of entropy grew out of an attempt at perfecting machinery during the industrial revolution. A 28-year-old French military engineer named Sadi Carnot set out to calculate the ultimate efficiency of the steam-powered engine. In 1824, he published a 118-page book(opens a new tab) titled Reflections on the Motive Power of Fire, which he sold on the banks of the Seine for 3 francs. Carnot’s book was largely disregarded by the scientific community, and he died several years later of cholera. His body was burned, as were many of his papers. But some copies of his book survived, and in them lay the embers of a new science of thermodynamics — the motive power of fire.

Carnot realized that the steam engine is, at its core, a machine that exploits the tendency for heat to flow from hot objects to cold ones. He drew up the most efficient engine conceivable, instituting a bound on the fraction of heat that can be converted to work, a result now known as Carnot’s theorem. His most consequential statement comes as a caveat on the last page of the book: “We should not expect ever to utilize in practice all the motive power of combustibles.” Some energy will always be dissipated through friction, vibration, or another unwanted form of motion. Perfection is unattainable.

Continue reading “What Is Entropy? A Measure of Just How Little We Really Know” »

Dec 17, 2024

Google DeepMind Unveils Veo 2, A New AI Video Model To Rival OpenAI’s Sora

Posted by in categories: finance, military, physics, robotics/AI, space

The notion of entropy grew out of an attempt at perfecting machinery during the industrial revolution. A 28-year-old French military engineer named Sadi Carnot set out to calculate the ultimate efficiency of the steam-powered engine. In 1824, he published a 118-page book(opens a new tab) titled Reflections on the Motive Power of Fire, which he sold on the banks of the Seine for 3 francs. Carnot’s book was largely disregarded by the scientific community, and he died several years later of cholera. His body was burned, as were many of his papers. But some copies of his book survived, and in them lay the embers of a new science of thermodynamics — the motive power of fire.

Carnot realized that the steam engine is, at its core, a machine that exploits the tendency for heat to flow from hot objects to cold ones. He drew up the most efficient engine conceivable, instituting a bound on the fraction of heat that can be converted to work, a result now known as Carnot’s theorem. His most consequential statement comes as a caveat on the last page of the book: “We should not expect ever to utilize in practice all the motive power of combustibles.” Some energy will always be dissipated through friction, vibration, or another unwanted form of motion. Perfection is unattainable.

Reading through Carnot’s book a few decades later, in 1865, the German physicist Rudolf Clausius coined a term for the proportion of energy that’s locked up in futility. He called it “entropy,” after the Greek word for transformation. He then laid out what became known as the second law of thermodynamics: “The entropy of the universe tends to a maximum.”

Continue reading “Google DeepMind Unveils Veo 2, A New AI Video Model To Rival OpenAI’s Sora” »

Dec 17, 2024

Dr. Jackie Kunzler, Ph.D. — Senior Vice President, Global R&D, Terumo Blood and Cell Technologies

Posted by in categories: biotech/medical, finance, life extension, neuroscience

Unlocking The Potential Of Blood — Dr. Jackie Kunzler Ph.D. — Senior Vice President, Global R&D, Terumo Blood and Cell Technologies.


Dr. Jackie Kunzler, Ph.D. is Senior Vice President and Global Head of Research and Development (R&D), and member of the Executive Management Committee, of Terumo Blood and Cell Technologies (https://www.terumobct.com/), where she focuses on innovation and development leading the way for unlocking the potential of blood and cell collections in varied sectors, including blood banking, plasma-based therapies and cell and gene therapies.

Continue reading “Dr. Jackie Kunzler, Ph.D. — Senior Vice President, Global R&D, Terumo Blood and Cell Technologies” »

Dec 13, 2024

Building A Data Strategy For Successful AI Implementation

Posted by in categories: finance, information science, robotics/AI

Artificial intelligence is no longer just a buzzword; it’s a transformative force reshaping industries, from healthcare to finance to retail. However, behind every successful AI system lies an often-overlooked truth: AI is only as good as the data that powers it.

Organizations eager to adopt AI frequently focus on algorithms and technologies while neglecting the critical foundation—data. Even the most advanced AI initiatives are doomed to fail without a robust data strategy. I’ll explore why a solid data strategy is the cornerstone of successful AI implementation and provide actionable steps to craft one.

Imagine building a skyscraper without solid ground beneath it. Data plays a similar foundational role for AI. It feeds machine learning models, drives predictions and shapes insights. However, as faulty materials weaken a structure, poor-quality data can derail an AI project.

Dec 12, 2024

Augmented Mind with Alex Bates (Habits 2 Goals Podcast Interview w/ Martin Grunburg)

Posted by in categories: economics, finance, internet, robotics/AI

“The next wave of AI will be able to augment people to become superhuman. Solutions will be at the ready for nearly all problems facing humanity.” ~Alex Bates.

Habits2Goals presents a powerful interview with Alex Bates, a phenomenal entrepreneur, inventor and bestselling author of Augmented Mind: AI Superhumans and the Next Economic Revolution.

Continue reading “Augmented Mind with Alex Bates (Habits 2 Goals Podcast Interview w/ Martin Grunburg)” »

Dec 12, 2024

AI Agents: Easier To Build, Harder To Get Right

Posted by in categories: business, cybercrime/malcode, finance, robotics/AI

Today, AI agents have evolved to become more modular and sophisticated. Agents like ChatGPT can engage in conversations and assist in a wide range of workflows, including customer service and financial decision-making.

Technologies such as retrieval-augmented generation (RAG) allow AI systems to combine different data sources dynamically, making them more adaptive and helpful in real-world applications. As AI’s influence expands into industries such as finance, healthcare and cybersecurity, it is becoming clear that AI agents are critical components of modern business operations.

Despite the remarkable progress in AI, deploying these systems presents several challenges. One of the primary concerns is the risk of bias embedded in the datasets used to train AI agents. AI systems learn from historical data, which can contain patterns of discrimination that, if unchecked, lead to biased decisions, such as favoring particular groups over others in hiring or lending scenarios.

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