How ChatGPT Shapes the Future

In recent years, the AI industry has grown significantly, with forecasts that the worldwide market will reach $190.61 billion by 2025, expanding at a CAGR of 36.2% between 2020 and 2025. The Covid-19 pandemic has only hastened this rise, as businesses have been forced to adjust swiftly to remote working and growing digitisation. 

The pandemic has brought to light the significance of technology in industries such as healthcare and e-commerce.

Introducing ChatGPT

ChatGPT is an AI model created by OpenAI that can potentially influence the AI market’s evolution in various ways. ChatGPT may be linked to a wide range of applications and services that need natural language processing (NLP), such as customer service, chatbots, and virtual assistants. This may raise the need for NLP-based AI solutions, which would help the AI industry flourish.

ChatGPT may also be used to train other AI models, which can accelerate the development and implementation of AI-powered apps and services. This can improve the efficiency of the AI development process, contributing to the growth of the AI market.

Furthermore, ChatGPT’s capacity to create human-like writing, which can be utilised for various content creation and optimisation activities, has the potential to propel the AI market forward. ChatGPT, for example, may produce product descriptions, marketing text, and even news pieces, reducing the time and effort necessary for content generation while enhancing output quality. 

Below is a simple example of how it can write a product description for Coca-Cola within seconds. 

The Benefits of ChatGPT

One of the primary benefits of ChatGPT is its ability to help users improve their writing and language skills. ChatGPT can help individuals become more effective communicators by providing real-time feedback and suggestions, whether they are writing emails, composing reports, or creating content for social media. 

For example, sales and marketing professionals can use ChatGPT to improve their email writing, helping them to better engage with prospects and customers. Additionally, educators can use technology to help students improve their writing and critical thinking skills without needing human grading and feedback.

Another critical benefit of ChatGPT is its ability to support knowledge management and collaboration. By using the technology to automate repetitive tasks, such as summarising reports or answering frequently asked questions, organisations can free up time and resources for more strategic initiatives. 

This can help companies become more efficient, increase productivity, and enhance customer service. For example, customer service teams can use ChatGPT to respond quickly to customer inquiries and resolve issues, reducing wait times and improving the customer experience.

The example below shows how a customer might be able to resolve a query about their home insurance without speaking to a human.

How ChatGPT Augments Roles

ChatGPT can significantly augment the functions of different departments in an organisation, including Data, IT, Marketing, Development, Finance, and Compliance.

Data 

For Data teams, it can assist in processing large amounts of data to provide insights and support decision-making. It can benefit data teams in their coding endeavours, particularly when it comes to writing code in SQL or Python. 

ChatGPT’s ability to provide suggestions for completing code snippets, identify syntax errors and suggest corrections, and generate complete code snippets based on specific requirements, can save data teams valuable time and effort. Furthermore, it can serve as a repository of coding knowledge that can be easily shared among team members. 

For example, if a data team member is working on a SQL query and encounters a roadblock, they can ask ChatGPT for advice on how to proceed. It can then provide suggestions for optimising the query or offer alternative solutions based on its vast knowledge of SQL coding best practices. By utilising its coding capabilities, data teams can improve their coding efficiency and accuracy, freeing them up to focus on more complex tasks.

IT

IT teams can use ChatGPT to automate various IT operations tasks and build a knowledge management system. It may also be incorporated with IT systems to give users rapid and accurate replies to technical assistance enquiries, decreasing the IT team’s burden.

Furthermore, ChatGPT can create a knowledge management system to store and retrieve information about IT systems and procedures, increasing the team’s productivity. IT teams may also use its natural language processing skills to examine massive quantities of log data and give insights into system performance and potential faults.

Marketing

Marketing teams can use ChatGPT to generate high-quality content and build conversational AI chatbots for customer service and sales. You can watch a video below on how ChatGPT built an entire marketing campaign in minutes. 

Source

Marketing teams still need to ask the right questions, but ChatGPT saves time and efficiency. 

Finance

For Finance teams, it can be integrated into financial systems to assist with data analysis and decision-making. It may assist finance teams in making more informed decisions and improving financial planning and forecasting. 

ChatGPT may also help finance teams automate operations, including calculating financial ratios, creating reports, and tracking spending. Furthermore, ChatGPT’s natural language processing skills may be utilised to analyse financial data and discover trends, allowing finance teams to recognise opportunities and possible hazards quickly.

Compliance

Compliance teams can use ChatGPT to ensure compliance with regulations and standards by automating various compliance tasks. 

It may also aid in the categorisation and classification of enormous volumes of data, as well as the investigation of complicated legislation and laws. Furthermore, it may give real-time responses to staff inquiries, decreasing the time spent on manual research and enhancing the compliance team’s productivity. The capacity of the language model to interpret and create human-like writing makes it a powerful tool for firms wanting to strengthen their compliance procedures.

By augmenting the roles of different departments, ChatGPT can help organisations increase productivity and improve the quality of their work. Some entrepreneurs are using the technology to brainstorm business ideas. It’s like having a friend to bounce your thoughts between. 

Risks of ChatGPT

Despite these benefits, there are also some risks associated with ChatGPT that must be considered. 

One of the primary risks is the potential for the technology to promote cheating and plagiarism. For example, students may use technology to generate homework assignments, or employees may use it to create reports and presentations without doing the necessary research and analysis. 

To mitigate this risk, it is essential for organisations to communicate the acceptable use of the technology clearly and to have clear policies and procedures in place to monitor and enforce compliance.

Another risk is the potential for the technology to perpetuate bias and harmful stereotypes. As the model has been trained on a large corpus of text, it may generate offensive or inappropriate language or reinforce negative stereotypes. It is vital for organisations to use the technology responsibly and ethically and to regularly review and update the training data to ensure that it is inclusive and free from bias.

AI for People

Despite these risks, companies are already using ChatGPT in innovative and impactful ways. For example, OpenAI partnered with the non-profit organisation ‘AI for People’ to develop a tool that uses ChatGPT to support mental health and well-being. 

The tool uses natural language processing and machine learning to provide users with personalised feedback and support, helping them manage stress, anxiety, and depression. OpenAI has also worked with news organisations and journalists to develop an AI-powered writing assistant that can help writers quickly generate high-quality, accurate news articles.

Copy.ai

Another example of a company positively using ChatGPT is Accenture, a leading global professional services firm. Accenture has developed a tool called ‘Copy.ai’ that uses ChatGPT to help businesses quickly generate high-quality marketing and advertising content. 

By using the technology to automate routine tasks, such as writing product descriptions and creating social media posts, Accenture is helping its clients become more efficient and effective in their marketing efforts.

Closing Thoughts

ChatGPT is a powerful tool that has the potential to help individuals and organisations across different roles to adapt and develop new skills. While some risks are associated with the technology, companies are already using it innovatively to drive positive outcomes. The key is to use it responsibly. 

Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.

The author of this text, Jean Chalopin, is a global business leader with a background encompassing banking, biotech, and entertainment.  Mr. Chalopin is Chairman of Deltec International Group, www.deltec.io

The co-author of this text, Robin Trehan, has a bachelor’s degree in economics, a master’s in international business and finance, and an MBA in electronic business.  Mr. Trehan is a Senior VP at Deltec International Group, www.deltec.io

The views, thoughts, and opinions expressed in this text are solely the views of the authors, and do not necessarily reflect those of Deltec International Group, its subsidiaries, and/or its employees.

How Smart Cities Use Blockchain 

Smart cities, which use technology to improve citizens’ quality of life and optimise urban services, have rapidly grown in popularity. According to a recent report, the global smart city market is projected to reach $158 billion by 2022. 

By utilising blockchain technology, smart cities can enhance their security, transparency, and efficiency in supply chain management, voting systems, and energy consumption. Implementing blockchain in smart cities benefits the citizens and creates sustainable and resilient urban environments.

This article explains what smart cities and blockchain technology are, and how they work together. 

What Are Smart Cities?

A smart city is an urban area that leverages technology and data to improve its citizens’ quality of life, optimise resource use, and create more sustainable and efficient communities. By integrating connected devices and systems, smart cities analyse data to provide more efficient and effective services, from transportation to energy management to public safety.

One prime example of a smart city is Singapore, which has implemented numerous initiatives to enhance the living experience of its citizens. For example, the city-state has a sophisticated transportation system that uses data and technology to manage traffic flow and reduce congestion, making it easier and faster for residents to get around. 

Singapore has also implemented smart waste management systems that use sensors to optimise collection schedules, reduce the amount of waste sent to landfills, and increase recycling rates.

Another example of a smart city is Amsterdam, which strongly focuses on sustainability and green energy. The city has implemented several initiatives to reduce its carbon footprint and increase the use of renewable energy sources. 

For example, Amsterdam has a smart grid system that integrates renewable energy sources, such as wind and solar power, into the city’s energy mix. This helps reduce the city’s dependence on fossil fuels and increase clean, sustainable energy use. 

Additionally, Amsterdam has implemented smart lighting systems that use sensors to automatically adjust the brightness of streetlights based on the presence of people, vehicles, and bikes, saving energy and reducing light pollution.

These are just a few examples of innovative initiatives implemented in smart cities worldwide. By leveraging technology and data, smart cities are creating more livable, sustainable, and efficient urban environments for their citizens.

What Is Blockchain?

Blockchain technology is a decentralised, distributed digital ledger that securely records transactions and information. It uses cryptography to link blocks of information together in a chain, creating a permanent and unalterable record of all transactions.

At the heart of blockchain technology sits a network of computers, called nodes, that work together to validate and process transactions. Each node has a copy of the entire blockchain, and the network’s consensus must validate any changes to the blockchain. This decentralised and distributed structure makes the blockchain resistant to tampering, hacking, and fraud.

The benefits of blockchain technology are numerous. One of the most significant benefits is increased security and transparency, as the decentralized and distributed nature of the blockchain makes it nearly impossible to alter or tamper with the information once it has been recorded. Additionally, blockchain technology can reduce the need for intermediaries, such as banks, to process transactions, lowering costs and increasing efficiency. It also enables secure and transparent tracking of assets, such as supply chains, voting systems, and intellectual property. It provides a safe and transparent platform for creating and managing digital assets like cryptocurrencies.

One example of how blockchain could work in smart cities is in the voting process. Voting systems can be susceptible to tampering, fraud, and errors. By implementing a blockchain-based voting system, each vote would be recorded as a secure transaction on the blockchain, providing a transparent and tamper-proof record of the election results. This would increase trust in the voting process and ensure that the results are accurate and fair.

Blockchain is a secure and trustworthy way of recording transactions and information in a decentralized manner, making it a valuable tool for various applications, including smart cities.

Why Smart Cities Need Blockchain Technology

Smart cities require secure, transparent, and decentralised technology to succeed. This is where blockchain technology comes in. It provides a secure, transparent platform for managing data and transactions in a decentralised manner.

One of the biggest challenges in smart cities is ensuring the integrity and security of the data that is collected and processed. Blockchain technology provides a secure and tamper-proof way of recording information, making it a valuable tool for ensuring the integrity of data in smart cities. 

Additionally, the decentralised nature of blockchain makes it resistant to hacking, tampering, and other forms of fraud, providing a secure platform for collecting and processing sensitive data.

Another reason why smart cities need blockchain technology is to improve efficiency and reduce costs. By implementing blockchain-based systems, smart cities can reduce the need for intermediaries, such as banks, to process transactions. This can increase efficiency and reduce costs, freeing up resources that can be used to enhance other services and improve the quality of life for citizens.

Finally, blockchain technology enables secure and transparent tracking of assets, such as supply chains, voting systems, and intellectual property. In smart cities, this can be used to improve transparency and accountability and enhance the management of resources, such as energy and waste.

How Smart Cities Are Created With Blockchain

Building a smart city with blockchain technology requires careful planning, research, and collaboration. Here are some steps to get started:

  1. Research and plan: Research existing smart cities and understand the challenges and opportunities they face. Identify areas where blockchain technology can be used to improve the quality of life for citizens, such as in managing waste, energy, transportation, and voting systems. Develop a plan for how blockchain technology can be used to solve specific problems and improve specific services in your city.
  2. Build partnerships: Building a smart city with blockchain technology requires collaboration and partnerships. Partner with blockchain developers, government agencies, academic institutions, and the private sector to share knowledge, resources, and expertise.
  3. Choose the right technology: There are many different blockchain technologies available, each with its strengths and weaknesses. Choose the best technology suited to your specific needs and goals, and consider security, scalability, and interoperability factors.
  4. Develop a pilot project: Start small by developing a pilot project to test your ideas and demonstrate the potential of blockchain technology. Choose a problem or service that can be improved with blockchain technology and create a proof-of-concept project to demonstrate the potential of the technology.
  5. Engage with the community: Building a smart city with blockchain technology requires community engagement and participation. Engage with citizens and stakeholders to understand their needs and concerns and involve them in the planning and implementation of blockchain-based solutions.
  6. Monitor and evaluate: Continuously monitor and evaluate your pilot project to understand its impact and identify areas for improvement. Share your results with the community and stakeholders to demonstrate blockchain technology’s benefits and encourage its wider adoption.

Building a smart city with blockchain technology requires careful planning, research, and collaboration. Following these steps, you can journey towards a more secure, efficient, and sustainable future.

How Did Singapore Become a Smart City?

Singapore has become a smart city through government leadership, innovative technology, and community engagement. The government of Singapore has taken a proactive approach to transform the city into a smart city. It has provided funding, resources, and support for developing and deploying smart city solutions. The government has also established policies and regulations that encourage innovation and collaboration between the public and private sectors, creating a supportive environment for developing smart city initiatives.

Singapore has also made significant investments in technology, including deploying smart city infrastructure, such as smart grids, sensors, and digital networks. This has enabled the city to collect and process large amounts of data, providing valuable insights into energy consumption, traffic flow, and waste management.

In addition to government leadership and investment in technology, community engagement has been crucial to the success of Singapore’s smart city initiatives. The government has worked closely with citizens and stakeholders to understand their needs and concerns and involved them in planning and implementing smart city solutions. This has helped to create a sense of ownership and involvement among citizens and encouraged their participation in developing a more sustainable, efficient, and livable city.

Risks Associated With Smart Cities

Smart cities can face many risks if they do not integrate blockchain technology. One significant risk is the security of sensitive information. In the absence of blockchain, smart cities may use centralised databases and systems to store and manage data, which can be vulnerable to cyber attacks, data breaches, and other forms of digital crime. This can compromise personal data, financial information, and critical infrastructure, causing harm to citizens and the city as a whole.

Another risk is the lack of transparency and accountability in data management. Without blockchain, there is a risk that data may be manipulated or misused without being detected, leading to potential privacy violations and ethical concerns. This can erode trust in government and civic institutions and undermine the legitimacy of smart city initiatives.

In addition, smart cities without blockchain may struggle to manage the increasing amounts of data generated by connected devices and sensors. This can lead to data silos and a lack of interoperability between different systems, hindering the ability of smart cities to make data-driven decisions and achieve their goals.

Finally, without blockchain, smart cities may not be able to ensure their data’s long-term security and preservation. This can result in the loss of valuable historical data and the inability to build on past achievements, which can hinder the progress of smart city initiatives.

Closing Thoughts

It is unlikely that every city will become a full-fledged smart city. The adoption of smart city technologies will likely vary depending on a range of factors, including the level of development of the city, the availability of resources and funding, and the priorities and needs of the citizens.

For those cities that do embrace smart city technologies, the future looks promising. With the integration of advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), and blockchain, smart cities will be able to streamline their operations, provide more efficient and personalised services, and enhance the quality of life for their citizens.

The future of smart cities is bright and holds immense potential. As technology advances and the world becomes increasingly connected, more cities will likely adopt smart city technologies to improve the lives of their citizens and create more sustainable urban environments.

Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.

The author of this text, Jean Chalopin, is a global business leader with a background encompassing banking, biotech, and entertainment. Mr. Chalopin is Chairman of Deltec International Group, www.deltec.io

The co-author of this text, Robin Trehan, has a bachelor’s degree in economics, a master’s in international business and finance, and an MBA in electronic business. Mr. Trehan is a Senior VP at Deltec International Group, www.deltec.io

The views, thoughts, and opinions expressed in this text are solely the views of the authors, and do not necessarily reflect those of Deltec International Group, its subsidiaries, and/or its employees.

How Generative Chat AI Operate

Generative chat AI is an exciting technology that has been making waves in recent years. It refers to computer programs designed to interact with humans using natural language processing and can generate responses that seem to be coming from a real person. 

These AI systems are capable of analysing and understanding the context of a conversation and can create responses that are not only relevant but also coherent.

According to PitchBook data, generative AI investment rose by 425% between 2020 and December 2022, totalling $2.1 billion last year. This is an especially astounding performance, given a general decline in tech investment in 2022.

This article will dive into technical details that make generative chat AI possible. We’ll explore natural language processing, deep learning, and neural networks and how they are used to train these AI systems. We’ll also touch on some challenges developers face when creating generative chat AI and how they work to overcome them.

What Is Generative Chat AI?

Generative chat AI refers to computer programs that use natural language processing (NLP) to generate human-like responses to a user’s input. These AI systems are designed to interact with humans in a way that feels natural, as if you were chatting with another person. Unlike rule-based chatbots that rely on pre-written responses, generative chat AI is capable of generating new responses on the fly based on the context of the conversation.

At the heart of generative chat AI is a technology called deep learning, a type of machine learning that involves training neural networks on large amounts of data. By feeding these neural networks with vast amounts of text data, such as chat logs or social media posts, they can learn to generate human-like responses.

The training process involves teaching the neural network to recognise patterns in the data, such as common sentence structures, idioms, and other linguistic features. Once the network has learned these patterns, it can generate new responses that fit within the context of the conversation. The more data the neural network is trained on, the better it becomes at generating natural-sounding responses.

How Does Generative Chat AI Work?

Generative chat AI works by using a combination of natural language processing (NLP) and deep learning, specifically through the use of neural networks. Neural networks are a machine learning algorithm that can recognize patterns in data and learn to make predictions based on that data.

In the case of generative chat AI, the neural network is trained on large amounts of text data, such as chat logs or social media posts. This training process is called deep learning because the neural network has multiple layers of interconnected nodes that allow it to recognize increasingly complex patterns in the data.

During training, the neural network learns to identify linguistic patterns and relationships between words and phrases. For example, it might know that certain words tend to be used together in specific contexts or that certain terms are more likely to occur in response to particular prompts. This training process enables the neural network to generate new responses relevant to the conversation’s context.

Once the neural network has been trained, it can generate responses to user input in real time. When a user inputs a message, the generative chat AI system uses NLP techniques to analyse the text and determine the context of the conversation. Based on this context, the system then uses the trained neural network to generate a relevant and coherent response.

The success of generative chat AI depends mainly on the training data quality and the neural network’s complexity. Developers must ensure that the training data is diverse and representative of the conversations the system will likely encounter in real-world situations. Additionally, they must design neural networks capable of handling the complexity of natural language and generating accurate and engaging responses.

Use Cases for Generative Chat AI

The future holds many potential use cases for generative chat AI, but there are already a few ways that businesses are making the most of the opportunity. 

Coding

Generative AI can understand user coding requirements in countless languages such as Python, SQL, and Excel formulas. You can ask it to write or debug your code, and the AI returns step-by-step instructions on implementing it. 

Below is a snippet of what the popular Chat GPT platform can provide using a simple question. The more specific the user is with a question, the better the output. 

Copywriting

Users can provide generative chat AI with a topic overview, context and tone. The output is a loose summary that can speed up the copywriting process, allowing humans to focus on the more creative parts. 

Currently, the results are imperfect; see our section on augmenting roles rather than replacing them below. Still, they can make marketing teams far more efficient by giving them a solid starting point. 

Before posting anything written by AI, it is vital to check the accuracy of the information. Outputs are based on the data AI reads, which can be filled with bias and fake content. 

Customer Service

Sales teams can use generative chat AI to sort through all previous customer interactions across all channels (such as web conferences, phone calls, emails, and instant messages) and then direct it to create the next answer.

Consider yourself a salesperson who must react to a client’s query. Imagine how AI could assist you in coming up with the ideal response based on understanding the account history. An article in Wall Street Journal (membership required) talks about some businesses already adopting AI for this purpose. 

Augmenting Roles, Not Replacing Them

One of the key benefits of generative AI is that it can automate routine tasks, allowing humans to focus on more complex and creative work. For example, a chatbot can handle basic customer inquiries, freeing human customer service agents to handle more complex issues requiring empathy and critical thinking.

However, it’s essential to recognize that generative AI cannot replicate human creativity, empathy, and intuition. There will always be tasks and situations requiring a human touch, such as complex problem-solving, creative work, and emotional intelligence.

Moreover, the widespread adoption of generative AI could potentially lead to job displacement and a loss of human jobs. To mitigate this risk, companies should take a responsible approach to AI adoption, ensuring they are using it to augment human capabilities rather than replace them entirely.

In practice, this means that companies should carefully consider how generative AI can be used to complement human work rather than replace it. This might involve retraining employees to work alongside AI, redesigning job roles to take advantage of AI capabilities, or providing opportunities for employees to learn new skills that will be in demand as AI becomes more prevalent.

The Challenges of Generative Chat AI

Generative chat AI faces several challenges. 

The first major challenge is obtaining high-quality training data. Generative chat AI models require large amounts of diverse and representative training data to learn how to generate appropriate responses to various user inputs. However, obtaining such data can be difficult, especially for specialised or niche domains or languages with limited digital content.

Another challenge is ensuring that the AI model does not produce biassed outputs. AI models are trained on data, which may include inherent biases in language use or representation of certain groups or perspectives. If the training data is biassed, the AI model may learn to produce outputs that reinforce or amplify those biases, potentially leading to harmful or discriminatory user interactions.

And Possible Solutions

To address these challenges, it’s important to carefully curate and evaluate the training data used to train the generative chat AI model. This may involve sourcing data from diverse and representative sources, applying quality control measures to filter out biassed or irrelevant data, and using techniques like adversarial training to ensure that the model can handle a variety of inputs and outputs.

Another approach is to evaluate the outputs of the AI model and implement techniques like debiasing or reweighting to mitigate any potential biases. This can involve human oversight and intervention and ongoing monitoring and adjustment to ensure that the model remains fair.

A further challenge is the consistency of generative AI. Users expect a natural and engaging dialogue where responses flow smoothly from one to another and build upon previous messages. However, generative chat AI models may struggle to maintain coherence and consistency, especially when dealing with complex or unpredictable user inputs. 

For example, the model may generate off-topic or irrelevant responses or contradict previous statements made in the conversation. To address this challenge, AI models may require additional training or techniques like attention mechanisms, which can help the model focus on relevant parts of the conversation and generate more coherent responses.

Closing Thoughts

The future of generative chat AI is promising as advancements in natural language processing and machine learning pushes the boundaries of what’s possible. In the coming years, we can expect to see more sophisticated and context-aware AI models capable of engaging in rich and natural conversations with users. 

These models may incorporate advanced techniques like sentiment analysis, emotion detection, and personality modelling, allowing them to tailor their responses to individual users and create more personalised experiences. However, as with any technology, some potential risks and challenges must be addressed, such as maintaining an ethical and responsible use of AI, ensuring transparency and accountability, and addressing potential biases in the data used to train these systems.

Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.

The author of this text, Jean Chalopin, is a global business leader with a background encompassing banking, biotech, and entertainment. Mr. Chalopin is Chairman of Deltec International Group, www.deltec.io

The co-author of this text, Robin Trehan, has a bachelor’s degree in economics, a master’s in international business and finance, and an MBA in electronic business. Mr. Trehan is a Senior VP at Deltec International Group, www.deltec.io

The views, thoughts, and opinions expressed in this text are solely the views of the authors, and do not necessarily reflect those of Deltec International Group, its subsidiaries, and/or its employees.

How Generative AI Transforms Web3

As the development of Web3 continues to gain momentum, artificial intelligence is set to revolutionise how we interact with decentralised networks. Among the many AI techniques available, generative AI is gaining increasing attention for its ability to create new and unique content, which has the potential to transform the Web3 landscape.

Generative AI can be used to produce everything from text and images to music and video, providing users with a wealth of new opportunities to engage with Web3 in exciting and innovative ways. 

According to a report by ResearchAndMarkets, the generative AI market is projected to reach $200.73 billion by 2032, indicating a growing demand for this technology across various industries. 

However, as with any new technology, significant challenges must be addressed, such as ensuring ethical use and mitigating potential biases. In this article, we will explore the key concepts of this form of AI and discuss its potential benefits and challenges to the Web3 ecosystem.

What Is Generative AI?

Generative AI is a type of artificial intelligence designed to create new and original content, such as images, text, music, and even video, without human intervention. Unlike traditional AI models, which are trained to recognize patterns and make decisions based on those patterns, generative AI is focused on generating new data that does not exist in its training data set. 

This is achieved by using machine learning algorithms, such as neural networks, to analyse large data sets and identify patterns that can be used to generate new content. 

Generative AI can be used in a wide range of applications, from creative industries such as music and art to more practical fields like medicine and finance, where it can be used to generate new drug compounds or financial models. 

  •  Art: It can create original pieces of art that range from abstract to more realistic forms. For instance, The Portrait of Edmond de Belamy was created by a French art collective using generative AI, and sold at Christie’s auction house for $432,500.
  • Music: AI-generated music is becoming increasingly popular, with some AI tools allowing users to create their own unique tracks. A good example is Amper Music, an AI-powered music composition platform enabling users to create and customise their original music.
  • Writing: Generative AI can also be used to create original written content, including news articles and even novels. For instance, OpenAI’s GPT-3 model (Chat GPT) has been used to write articles that are difficult to distinguish from those written by humans.
  • Virtual Clothing: It can also be used to create unique virtual clothing for use in the metaverse or other digital platforms. For instance, The Fabricant, a digital fashion house, has created a range of virtual clothing using generative AI.
  • Video games: AI can also be used to create original video games, from procedural content generation to NPCs with their own personalities and decision-making abilities. An example is Hello Games’ ‘No Man’s Sky’, which uses procedural generation to create an entire universe of unique planets and creatures.
  • Finance: AI can be used to analyse vast amounts of financial data and generate predictions and insights to inform investment decisions. For instance, the hedge fund Numerai uses generative AI models to analyse financial data and generate trading signals.

In other words, generative AI is the perfect technology to support Web3. 

What Is Web3?

Web3 refers to the next generation of the internet, which is focused on decentralisation, security, and user control. Unlike the current Web2, which is dominated by a few large corporations that collect and control user data, Web3 is based on decentralised networks that enable users to own and control their data. 

One of the key features of Web3 is the concept of the metaverse, a virtual world where users can interact with each other in real-time using avatars and digital assets. The metaverse is expected to be a key component of Web3, providing users with a new way to interact with each other and with digital content.

Another important feature of Web3 is smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Smart contracts can be used to automate a wide range of processes, from financial transactions to supply chain management, without the need for intermediaries.

Generative AI can play a significant role in the Web3 ecosystem by creating new and unique digital assets for use in the metaverse and other decentralised applications. For example, generative AI can be used to create virtual clothing, art, and other assets that can be bought and sold within the metaverse. 

Additionally, generative AI can be used to create smart contracts that are more efficient and secure than traditional contracts, thereby reducing the need for intermediaries. However, as with any new technology, there are also potential risks and challenges associated with using generative AI in the Web3 ecosystem, including the potential for bias and the need to ensure ethical use. 

Challenges of Using Generative AI Within Web3

While generative AI has the potential to bring many benefits to the Web3 ecosystem, there are also significant challenges and risks associated with its use, particularly in the metaverse. 

One of the biggest challenges is the potential for bias in the data used to train the generative AI models. If the data used to train the models is biassed, the generated content may also be biassed, perpetuating existing inequalities and marginalising certain groups. It is, therefore, essential to ensure that the data used to train the models is diverse and representative of all groups.

Another challenge is the potential for misuse of generative AI in the metaverse. For example, generative AI could be used to create realistic deepfake videos or other forms of disinformation, which could have severe consequences for individuals and society.

Furthermore, there is also the issue of ethical considerations surrounding the use of generative AI in the Web3 ecosystem. For instance, generative AI could be used to create realistic avatars of real people without their consent, raising serious privacy concerns. 

There is also the question of who owns the rights to the generated content and how it can be used, particularly if it is sold for profit.

To mitigate these challenges and risks, it is essential to establish best practices and guidelines for the ethical use of generative AI in the metaverse and other Web3 applications. This includes ensuring that the data used to train the models is diverse and representative, establishing clear guidelines for using generated content and implementing effective mechanisms for detecting and preventing the misuse of generative AI. 

Closing Thoughts

Generative AI has the potential to play a significant role in the Web3 ecosystem, particularly in the development of the metaverse and other decentralised applications. Generative AI can be used to create new and unique digital assets, such as virtual clothing and art, which can be bought and sold within the metaverse. 

Additionally, it can be used to create smart contracts that are more efficient and secure than traditional contracts, reducing the need for intermediaries. However, there are also significant challenges and risks associated with using generative AI in the Web3 ecosystem, including the potential for bias and misuse. 

To mitigate these risks, it is important to establish best practices and guidelines for the ethical use of generative AI. Despite these challenges, the future of generative AI in the Web3 ecosystem looks promising, with the potential to create innovative content while ensuring that it is used responsibly.

Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.

The author of this text, Jean Chalopin, is a global business leader with a background encompassing banking, biotech, and entertainment. Mr. Chalopin is Chairman of Deltec International Group, www.deltec.io

The co-author of this text, Robin Trehan, has a bachelor’s degree in economics, a master’s in international business and finance, and an MBA in electronic business. Mr. Trehan is a Senior VP at Deltec International Group, www.deltec.io

The views, thoughts, and opinions expressed in this text are solely the views of the authors, and do not necessarily reflect those of Deltec International Group, its subsidiaries, and/or its employees.

Can AI and Biotech Conquer Death?

Death is a certainty that all living beings must face, but what if we could beat it? The advances in biotechnology and artificial intelligence, or AI, have raised the question of whether death can be conquered. 

This article explores the potential of biotech and AI to achieve immortality, farfetched as it seems, and the pros and cons associated with this idea.

Advancements in Biotech

Biotechnology is a rapidly evolving field that is focused on using biological processes, systems, and organisms to create new products, technologies, and solutions. Significant advancements in biotech have led to the development of treatments and therapies that can extend human life. One of the most promising areas of biotech research is the development of stem cell therapies.

Stem cells are undifferentiated cells that can differentiate into different types of cells and tissues in the body. Stem cell therapies involve transplanting stem cells into damaged or diseased tissues to regenerate and repair them. This can be used to treat various conditions, including spinal cord injuries, heart disease, and Parkinson’s disease.

Another area of biotech research that has the potential to extend human life is gene therapy. Gene therapy involves introducing genetic material into a patient’s cells to treat or prevent disease.

This can be used to treat genetic disorders, such as cystic fibrosis, and to prevent age-related diseases, such as Alzheimer’s disease.

Advancements in AI

AI focuses on developing machines that can perform tasks that typically require human intelligence, such as perception, learning, reasoning, and decision-making. AI can transform many industries, including healthcare, by providing new tools and solutions to improve patient outcomes and extend human life.

One of the most promising applications of AI in healthcare is precision medicine. Precision medicine involves genetic and other data to tailor medical treatments to individual patients. AI can be used to analyse vast amounts of data to identify patterns and insights that can be used to develop personalised treatment plans.

Another area of research that can potentially extend human life is the development of autonomous medical systems. Autonomous medical systems are machines that can perform medical tasks without human intervention. These systems can be used to monitor patient health, administer medications, and perform surgical procedures.

AI and Biotech

AI can help progress the biotech industry in fields such as stem cell treatment and gene therapy, which we mentioned above. 

While stem cell treatment has shown promise in treating a range of diseases, it is still a relatively new field, and much is not yet understood about how stem cells work and how they can be effectively used in therapy.

AI can play a vital role in advancing stem cell treatment by helping to identify the best type of stem cell for a given condition and optimising the conditions under which the stem cells are grown and differentiated into specific cell types. It can also help to predict the likelihood of success for a given stem cell therapy and identify potential side effects or complications.

One company that is working on using AI to advance stem cell treatment is Insilico Medicine. The company uses AI to develop new drugs and therapies for various diseases, including cancer, fibrosis, and ageing. The company’s platform uses deep learning algorithms to analyse large amounts of data and identify potential drug targets and therapies. The video below is an explainer of one of their products. 

Similarly, gene therapy is a new field that can benefit from AI; which can play a crucial role in advancing gene therapy by helping to identify the best targets for gene therapy and optimising the delivery of genes to the target cells. It can also help predict gene therapy’s potential outcomes and identify possible side effects or complications.

One company that is working on using AI to advance gene therapy is Homology Medicines. The company is developing gene therapies for various genetic diseases, including phenylketonuria (PKU) and sickle cell disease. The company’s platform uses AI to design and optimise the delivery of gene therapies to make gene therapy more effective and accessible.

The Issues With Conquering Death

The idea of conquering death with biotech and AI has several potential benefits and risks. Some of the most significant pros and cons are outlined below.

Pros

  • Improved quality of life: Conquering death could significantly improve the quality of life for older adults. We could eliminate many of the problems associated with ageing, such as chronic diseases and disability. 
  • Advancements in science and technology: Immortality could lead to significant advances in science, technology, and culture by allowing our brightest minds to continue contributing to society.
  • Increased productivity: If people lived indefinitely, they would have more time to contribute to society, leading to increased productivity and economic growth.

Cons

  • Overpopulation: One of the most significant risks associated with conquering death is the potential for overpopulation. With people living indefinitely, the world’s population would continue to grow, straining resources and exacerbating environmental issues.
  • Unequal distribution of access: Ethical considerations are associated with unequal access to immortality technology. If only the wealthy and powerful could access these technologies, it could exacerbate existing inequalities.
  • Loss of cultural traditions: Immortality could lead to the loss of cultural traditions and the stagnation of cultural evolution.

The Challenges With Conquering Death

While AI and biotech hold significant promise for advancing medicine and extending human life, many challenges must be overcome before death can indeed be conquered.

One of the primary challenges is the ethical implications of using these technologies to extend life. While many people would welcome the opportunity to live longer, healthier lives, there are concerns about the potential consequences of such an advancement. 

For example, there may be questions about who would have access to these technologies and how they would be distributed. There may also be concerns about the impact on the planet and the potential strain on resources if the population continues to grow as people live longer.

Another challenge is the complexity of the human body and the many factors that can impact health and longevity. While AI and biotech can help identify potential therapies and treatments, much is still not yet understood about how the body works and how it can be effectively treated. 

For example, there are many different types of cancer, each with unique characteristics and challenges. Developing effective therapies for each type of cancer will require a deep understanding of the underlying biology and a willingness to experiment with new approaches.

There are also challenges related to developing and regulating new therapies and treatments. Developing new drugs and therapies is a long and expensive process. There is always a risk that a promising treatment will fail in clinical trials or have unforeseen side effects. In addition, there are regulatory challenges related to getting new therapies approved and ensuring they are safe and effective for humans.

Finally, there are challenges related to using AI and biotech in healthcare. For example, there may be concerns about the accuracy and reliability of AI algorithms, particularly when making decisions about human health. There may also be questions about how AI and biotech will impact the roles of healthcare providers and whether machines in the future will replace them.

Market Statistics and Use Cases

The biotech and AI industries are rapidly growing and have significant potential to transform healthcare and extend human life. According to a report by Grand View Research, the global biotech market size was valued at $1,023.92 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 13.9% from 2022 to 2030. The report cites the growing demand for biopharmaceuticals and increasing investment in biotech research as key market growth drivers.

Several companies are working in biotech and AI to develop new therapies and solutions that can extend human life. One such company is Unity Biotechnology, which focuses on developing therapies targeting the underlying causes of age-related diseases. The company’s lead program is a senolytic therapy that targets senescent cells, which are cells that have stopped dividing and contribute to age-related diseases.

Another company in the biotech space is Moderna, best known for developing one of the first COVID-19 vaccines. The company is also working on developing mRNA therapies that could be used to treat a range of diseases, including cancer and rare genetic disorders.

In AI, several companies are developing solutions to improve patient outcomes and extend human life. One such company is Deep Genomics, which uses AI to create new therapies for genetic diseases. The company’s platform combines genomics and machine learning to identify genetic mutations that cause disease and develop new therapies to treat them.

Closing Thoughts

The idea of conquering death with biotech and AI is a tantalising prospect but comes with significant challenges and risks. While biotech and AI have the potential to extend human life and improve the quality of life in old age, there are also substantial ethical considerations associated with immortality. 

As these two industries continue to evolve, it is crucial to consider the challenges and risks and work towards developing solutions that can extend human life sustainably and ethically. The goal is to improve the quality of life for all, not just for some. 

Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.

The author of this text, Jean Chalopin, is a global business leader with a background encompassing banking, biotech, and entertainment.  Mr. Chalopin is Chairman of Deltec International Group, www.deltec.io

The co-author of this text, Robin Trehan, has a bachelor’s degree in economics, a master’s in international business and finance, and an MBA in electronic business.  Mr. Trehan is a Senior VP at Deltec International Group, www.deltec.io

The views, thoughts, and opinions expressed in this text are solely the views of the authors, and do not necessarily reflect those of Deltec International Group, its subsidiaries, and/or its employees. 

AI and Its Many Forms

Artificial intelligence (AI) is no longer just a science fiction concept but a technological reality that is becoming increasingly prevalent daily. There are several forms of AI, each with unique characteristics and applications. 

This article will explore the various forms of AI today, including machine learning, natural language processing, computer vision, expert systems, and robotics. By examining each type of AI, we can better understand how these technologies function and the potential benefits they can offer society. By understanding the different forms, we can also better appreciate their implications for the future of various industries and the overall economy.

The Different Types of AI

There are various types of AI, each with specific qualities and uses.

AI can be classified as either narrow or general based on the scope of its tasks. Narrow AI, also known as weak AI, is designed to perform specific and highly specialised tasks. 

For example, a chatbot that can answer customer service questions or an image recognition system that can identify particular objects in photographs are examples of narrow AI. Narrow AI systems are designed to complete specific tasks efficiently and accurately but are limited in their ability to generalise beyond those tasks.

In contrast, general AI, also known as strong AI or artificial general intelligence (AGI), is designed to perform various tasks and can learn and adapt to new situations. It aims to replicate the cognitive abilities of humans, including problem-solving, decision-making, and even creativity. It seeks to create machines that can perform any intellectual task that a human can.

While we have made significant progress in developing narrow AI, we are still far from achieving general AI. One of the main challenges is creating machines that can learn and generalise from a wide range of data and experiences rather than just learning to perform specific tasks. Additionally, general AI will require the ability to reason and understand context in a way currently impossible for machines.

Below are the typical applications. Most of these are still narrow bar expert systems which are beginning to show some aspects of general AI. 

Machine Learning

Machine learning is one of the most common forms of AI and involves training algorithms on large datasets to identify patterns and make predictions. For example, Netflix uses machine learning to recommend shows and movies to viewers based on their previous viewing history. 

This technology has also been applied to healthcare to help diagnose and treat medical conditions.

Natural Language Processing

Natural language processing (NLP) is another form of AI that allows computers to understand, interpret, and respond to human language. One real-world application of NLP is chatbots, which many companies use to provide customer service and support. For example, Bank of America uses an NLP-powered chatbot to help customers with their banking needs.

Computer Vision

Computer Vision is a form of AI that enables machines to interpret and understand visual information from the world around them. One example of this is the use of computer vision in self-driving cars. Companies such as Tesla use computer vision to analyse data from sensors and cameras to make real-time decisions about navigating roads and avoiding obstacles.

Expert Systems

Expert systems are AI systems that use rules and knowledge to solve problems and make decisions. These systems are often used in industries such as finance and healthcare, where making accurate decisions is critical. For example, IBM’s Watson is an expert system that has been used to diagnose medical conditions and provide treatment recommendations.

Robotics

Robotics is another form of AI involving machines performing physical tasks. One real-world application of robotics is in manufacturing, where robots are used to assemble products and perform other tasks. For example, Foxconn, an electronics manufacturer for companies like Apple, uses robots to assemble products on its production lines.

It’s important to note that we now have primarily narrow AI designed to perform specific tasks. However, the ultimate goal of AI is to develop general AI which can perform a wide range of tasks and learn and adapt to new situations. While we may not have achieved general AI yet, developing narrow AI systems is an essential step towards that goal. The interrelated and supportive nature of these different forms is what allows us to make progress towards this ultimate goal.

How People Perceive AI

Artificial intelligence is often perceived as a futuristic concept still in its early stages of development. However, the truth is that it is already a commonplace technology that is widely used in various industries. Many companies have quietly incorporated it into their operations for years, often in narrow, specialised forms that are not immediately apparent to the general public.

For example, AI algorithms are commonly used in online shopping websites to recommend products to customers based on their previous purchases and browsing history. Similarly, financial institutions use it to identify and prevent fraud, and healthcare providers use it to improve medical diagnoses and treatment recommendations. It is also increasingly used in manufacturing and logistics to optimise supply chain management and reduce costs.

Despite its prevalence, many people still associate AI with science fiction and futuristic concepts like robots and self-driving cars. However, the reality is that it is already deeply integrated into our daily lives. As AI continues to evolve and become even more sophisticated, its impact on various industries and our daily lives will become known to all.

Closing Thoughts

The development of general AI will profoundly impact many industries, including healthcare, transportation, and manufacturing. It will be able to perform a wide range of previously impossible tasks, from diagnosing complex diseases to designing and creating new products. 

However, with this increased capability comes a need for increased responsibility and regulation. As AI becomes more integrated into our daily lives, it will be essential to ensure that it is used ethically and with the best interests of society in mind. In the future, it is likely to become an even more integral part of our lives, transforming how we live, work, and interact with technology.

Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.

The author of this text, Jean Chalopin, is a global business leader with a background encompassing banking, biotech, and entertainment. Mr. Chalopin is Chairman of Deltec International Group, www.deltec.io

The co-author of this text, Robin Trehan, has a bachelor’s degree in economics, a master’s in international business and finance, and an MBA in electronic business. Mr. Trehan is a Senior VP at Deltec International Group, www.deltec.io

The views, thoughts, and opinions expressed in this text are solely the views of the authors, and do not necessarily reflect those of Deltec International Group, its subsidiaries, and/or its employees.

Blockchain and AI

According to a report by Allied Market Research, the global blockchain technology market was valued at $3 billion in 2020 and is expected to grow to $39.7 billion by 2025. Similarly, the AI market is projected to grow to $190 billion by 2025, according to a report by MarketsandMarkets

With the increasing demand for both blockchain and AI, combining these technologies can revolutionise many industries and transform the way we do business.

What Is Blockchain?

Blockchain technology is a decentralised, distributed ledger that allows for secure and transparent transactions without intermediaries. It was first introduced in 2008 by an unknown individual or group of individuals under the pseudonym Satoshi Nakamoto to facilitate Bitcoin transactions. 

The technology works by recording transactions in blocks linked together to form a chain, hence the name ‘blockchain’. Each block contains a cryptographic hash of the previous block, ensuring the chain’s integrity.

The benefits of blockchain technology include increased security, transparency, and efficiency. By eliminating the need for intermediaries, such as banks, transactions can be completed faster and at a lower cost. The technology’s decentralised nature also makes it more resistant to fraud and hacking. Blockchain is used in various industries, including finance, healthcare, and supply chain management.

What Is AI?

AI, or artificial intelligence, refers to the ability of machines to perform tasks that would typically require human intelligence, such as learning, reasoning, and problem-solving. The history of AI traces back to the 1950s when researchers first began developing algorithms for machine learning. Since then, AI has evolved to include many technologies, including neural networks, natural language processing, and computer vision.

AI has rapidly transformed the finance industry by providing faster, more accurate decision-making capabilities and improving operational efficiency. Some examples of how AI is being used in finance include:

  • Fraud detection: AI-powered fraud detection systems use machine learning algorithms to identify unusual behaviour patterns and detect fraudulent activities. 
  • Trading and investment: AI-powered trading algorithms use natural language processing (NLP) to analyse news articles, social media, and other data sources to identify patterns and predict market movements. 
  • Customer service: Financial institutions use chatbots and virtual assistants to provide customer service and support. 

Financial firms worldwide are increasingly turning to artificial intelligence (AI) technologies to improve their efficiency, automate their processes, and provide better customer service. Three examples of financial firms that have successfully adopted AI are Capital One, Citigroup, and Ping An.

Capital One, a US-based financial institution, has implemented natural language processing (NLP) to enhance customer service. Its virtual assistant, Eno, can understand and respond to customer inquiries in natural language, available via the company’s mobile app, website, and text messages. The system has helped Capital One reduce wait times and enhance customer satisfaction. The company has also used machine learning to detect and prevent fraudulent activity.

Citigroup, a multinational investment bank, has been utilising computer vision to analyse financial data. Its research team has developed an AI-powered platform to analyse financial statements and other data to identify patterns and trends. 

The platform can also provide predictive insights, assisting investors in making well-informed decisions. The system has improved Citigroup’s research capabilities and enabled the company to provide superior investment advice to its clients.

Ping An, a Chinese insurance and financial services company, has been using machine learning to improve its risk management. Its risk management platform, OneConnect, can analyse large amounts of data to identify potential risks and provide real-time insights. 

The system can also offer tailored risk assessments for different types of businesses. OneConnect has assisted Ping An in reducing its risk and enhancing its operational efficiency.

Financial firms are increasingly adopting AI technologies to remain competitive and enhance customer service. By leveraging NLP, computer vision, and machine learning, financial institutions can streamline operations, improve customer service, and make informed decisions. Firms that fail to embrace these technologies may risk falling behind their competitors.

Why AI and Blockchain Must Work Together

AI and blockchain are two of the financial services industry’s most innovative and disruptive technologies. While they are often seen as separate technologies, AI and blockchain are becoming increasingly interdependent for several reasons. 

One of the most significant advantages of blockchain is its ability to provide secure, transparent, and tamper-proof transactions. However, blockchain cannot detect fraud, which is where AI comes in. 

By integrating AI and blockchain, financial firms can build more secure and transparent systems that leverage AI’s fraud detection capabilities to enhance the trustworthiness of blockchain. This combination can offer improved security and transparency in transactions, which is crucial in financial services. 

Another advantage of integrating AI and blockchain is the improved accuracy and efficiency of financial services. Smart contracts built on blockchain can automate financial transactions and self-execute when predefined conditions are met. By integrating AI, smart contracts can also be made more intelligent and capable of automatically adjusting to changing conditions. This integration can lead to the creation of more efficient and accurate financial systems.

Integrating AI into the blockchain can also help financial firms to detect and mitigate risks more quickly and effectively. AI can analyse vast amounts of data in real-time, making it an ideal tool for risk management. For example, AI can identify anomalies in financial transactions and flag them for review or rejection, making detecting fraud and other risks easier. This benefit can lead to better risk management, an essential component of financial services.

The integration of AI and blockchain can also help financial firms to comply with regulations more effectively. Financial rules are complex and ever evolving, making compliance a significant challenge for financial firms. By combining AI and blockchain, financial firms can improve their ability to comply with regulations and reduce the costs and risks associated with non-compliance. For example, blockchain can provide an immutable record of transactions, while AI can be used to analyse the data and ensure that it complies with regulations.

AI Creates New Business Models

Finally, integrating AI and blockchain opens up new business models and opportunities for financial firms. Decentralised finance (DeFi) applications are leveraging AI and blockchain to create new financial products and services that are more efficient, accessible, and affordable than traditional financial services. The combination of AI and blockchain technology creates new opportunities for financial firms, leading to the development of new financial products and services that were not possible before. 

In practice, many examples of financial firms are already successfully leveraging AI and blockchain to enhance their services. For instance, Ripple, a blockchain-based payments solution, has integrated AI to improve its fraud detection and risk management capabilities. JPMorgan Chase is using blockchain to develop a decentralised platform for tokenising gold, and AI is being used to analyse the data generated by the platform. Visa also leverages blockchain and AI to enhance its fraud detection and prevention capabilities.

AI and blockchain can transform financial services, enhancing security, transparency, accuracy, efficiency, risk management, compliance, and new business models. By working together, AI and blockchain can create synergies that make them greater than the sum of their parts. Financial firms embracing AI and blockchain are likely better positioned to succeed in an increasingly competitive and complex financial services landscape.

Closing Thoughts

The future of AI-enabled blockchain in financial services is promising, with significant advancements expected in the next decade. Here are some potential developments:

  • Financial firms will continue integrating AI and blockchain to improve their operations, increase efficiency, and reduce costs. 
  • By combining AI’s ability to analyse data with blockchain’s secure and transparent ledger, financial firms can develop systems that provide more secure and private transactions.
  • Decentralised finance (DeFi) applications are already leveraging AI and blockchain to create new financial products and services
  • As AI and blockchain become more integrated into financial services, regulatory oversight will increase
  • Integrating AI and blockchain will likely create new business models and revenue streams for financial firms. 

Overall, the future of AI-enabled blockchain in financial services looks bright, with continued growth and development expected in the next decade. As financial firms increasingly adopt and integrate these technologies, we can expect to see significant advancements in efficiency and security as new business opportunities emerge. 

Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.

The author of this text, Jean Chalopin, is a global business leader with a background encompassing banking, biotech, and entertainment. Mr. Chalopin is Chairman of Deltec International Group, www.deltec.io

The co-author of this text, Robin Trehan, has a bachelor’s degree in economics, a master’s in international business and finance, and an MBA in electronic business. Mr. Trehan is a Senior VP at Deltec International Group, www.deltec.io

The views, thoughts, and opinions expressed in this text are solely the views of the authors, and do not necessarily reflect those of Deltec International Group, its subsidiaries, and/or its employees.

Longevity and the Future

With continuous advancements in medical technology, the science of longevity has seen incredible progress in the past few decades. According to the World Health Organization, the global average life expectancy increased from 64.2 years in 1990 to 72.6 years in 2019. 

The same report states that, in high-income countries, life expectancy at birth can reach up to 80 years. With ongoing research and advancements, there is a high probability that the average life expectancy will continue to rise in the future. In this article, we will explore the advances in the science of longevity, including the latest discoveries, potential future developments, and ethical considerations.

The Science of Longevity

The primary goal of longevity research is to improve the quality of life by extending the number of healthy years an individual can enjoy. 

Several research areas contribute to the science of longevity, including genetics, epigenetics, stem cell research, and nutrition. Recent studies show that our lifestyle habits and environment also significantly determine our life span. 

Lifestyle Habits

Studies show that our lifestyle habits and environment can significantly impact our lifespan. For example, a study published in the American Journal of Clinical Nutrition found that eating a diet rich in fruits, vegetables, whole grains, nuts, and legumes reduces mortality risk from all causes, including cardiovascular disease and cancer.

Similarly, a study published in the British Medical Journal found that quitting smoking can add up to 10 years to a person’s life expectancy. The study also found that even those who quit smoking in their 60s can still add several years to their lifespan.

Other studies have looked at the impact of exercise on lifespan. A study published in the journal PLOS Medicine found that individuals who engaged in regular physical activity had a reduced risk of premature death from all causes, including cardiovascular disease and cancer.

Stress is also a factor that can impact lifespan. A study published in the journal ‘Science’ found that chronic stress can accelerate ageing at the cellular level by shortening telomeres. The study suggests that stress management techniques like mindfulness meditation and yoga may help slow ageing and extend lifespan.

These studies demonstrate that our lifestyle habits and environment can significantly impact our lifespan. Making healthy lifestyle choices, such as eating a nutritious diet, quitting smoking, engaging in regular physical activity, and managing stress, can help to extend our healthy years and improve our overall quality of life.

Genetic Research

Genetic research has made significant progress in identifying the genes contributing to ageing and age-related diseases. Studies have identified several genetic variants associated with an increased risk of Alzheimer’s, cancer, and heart disease. 

Researchers are also exploring the potential of gene editing technologies, such as CRISPR, to modify genes associated with ageing and disease.

One study published in Nature Genetics found a genetic variant associated with an increased risk of Alzheimer’s disease that affects the immune system’s ability to clear beta-amyloid protein from the brain. 

Beta-amyloid protein is a hallmark of Alzheimer’s disease. Another study published in the journal Nature Communications identified a genetic variant associated with an increased risk of heart disease that affects the metabolism of fats in the liver.

Epigenetics Research

Epigenetics is the study of changes in gene expression without altering the underlying DNA sequence. Recent research has shown that epigenetic changes can significantly impact ageing and age-related diseases. 

For example, a study published in Aging Cell found that specific epigenetic changes in the brain are associated with cognitive decline in ageing adults. Another study published in Nature Communications found that DNA methylation changes in the blood are associated with ageing and age-related diseases, such as cancer and cardiovascular disease.

Stem Cell Research

Stem cell research focuses on developing therapies to regenerate damaged tissues and organs. Recent advancements in stem cell research have shown promising results in animal studies, including restoring damaged heart tissue and reversing age-related muscle loss.

A study published in the journal Cell Stem Cell found that injecting old mice with muscle stem cells from young mice improved muscle function and strength in the older mice. Another study published in the journal Nature found that transplanting neural stem cells into the brains of ageing mice improved cognitive function.

Nutrition Research

Nutrition research has shown that a healthy diet can significantly impact our lifespan. Studies have shown that diets high in fruits, vegetables, whole grains, and lean protein can reduce the risk of chronic diseases and improve overall health. Researchers are also exploring the potential of calorie restriction and intermittent fasting to extend lifespan.

Case Study in Okinawa

The Okinawan population in Japan is a fascinating case study in the science of longevity. Okinawa is known for having one of the highest percentages of centenarians in the world, with a significant number of individuals living beyond 100. Researchers have been studying the factors that contribute to the long lifespan of Okinawans for many years.

One of the critical factors that researchers have identified is the Okinawan diet, which is high in fruits, vegetables, and whole grains and low in calories and saturated fat. The traditional Okinawan diet consists of sweet potatoes, vegetables, tofu, seaweed, and fish. The diet is rich in antioxidants and anti-inflammatory compounds, which may help to reduce the risk of chronic diseases such as cardiovascular disease and cancer.

Regular physical activity is another factor that contributes to the longevity of Okinawans. Many Okinawans engage in physical activity, such as walking, gardening, and traditional martial arts practices. This physical activity may help to reduce the risk of age-related diseases and maintain physical function in old age.

Social connections are also a crucial factor in the longevity of Okinawans. Many Okinawans maintain strong social connections throughout their lives, which can provide emotional support and a sense of purpose. Studies have shown that social isolation is associated with increased mortality risk and poor health outcomes, emphasising the importance of social connections for overall health and longevity.

In addition to these lifestyle factors, genetic and environmental factors may also contribute to the longevity of Okinawans. Researchers have identified several genetic variations that may play a role in the long lifespan of Okinawans, including variations in genes related to insulin sensitivity and inflammation. Environmental factors, such as low pollution levels and high exposure to natural light, may also contribute to the longevity of Okinawans.

Potential Future Developments

The future of longevity research looks promising, with ongoing advancements in medical technology and genetic analysis. Here are some potential future developments in the field of longevity. 

Anti-Aging Drugs

Several drugs that can delay ageing and age-related diseases are currently in development. These drugs work by targeting specific genes and proteins that are associated with ageing and age-related diseases.

Gene Editing

Gene editing technologies such as CRISPR can potentially modify genes associated with ageing and disease. Researchers are exploring the potential of these technologies to extend lifespan and reduce the risk of age-related diseases.

Regenerative Therapies

Regenerative therapies such as stem cell treatments have shown promising results in animal studies. Researchers are exploring the potential of these therapies to regenerate damaged tissues and organs in humans.

Artificial Intelligence

Artificial intelligence (AI) can potentially revolutionise the field of longevity research. AI can analyse large datasets and identify patterns to help researchers develop new therapies and treatments.

Ethical Considerations

The potential to extend lifespan raises several ethical considerations that must be addressed. One concern is the unequal distribution of life-extending therapies. 

If these therapies are only available to the wealthy, it could widen the gap between the rich and the poor. Another concern is the potential for overpopulation and strain on resources if the population continues to age and live longer. Researchers and policymakers must consider these ethical implications as they develop new therapies and treatments.

Closing Thoughts

In conclusion, the science of longevity has made significant progress in recent years, thanks to advancements in medical technology and research. Genetic, epigenetics, stem cell, and nutrition research have contributed to our understanding of ageing and age-related diseases. 

Future developments in anti-ageing drugs, gene editing, regenerative therapies, and artificial intelligence promise to extend a healthy lifespan. However, researchers must also consider the ethical implications of extending lifespan, including unequal distribution of therapies and strain on resources. With ongoing research and advancements, the future looks bright for the science of longevity.

Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.

The author of this text, Jean Chalopin, is a global business leader with a background encompassing banking, biotech, and entertainment. Mr. Chalopin is Chairman of Deltec International Group, www.deltec.io

The co-author of this text, Robin Trehan, has a bachelor’s degree in economics, a master’s in international business and finance, and an MBA in electronic business. Mr. Trehan is a Senior VP at Deltec International Group, www.deltec.io

The views, thoughts, and opinions expressed in this text are solely the views of the authors, and do not necessarily reflect those of Deltec International Group, its subsidiaries, and/or its employees.

Can Robots Become Sentient With AI?

AI-powered robots’ potential to become sentient has sparked heated discussion and conjecture among scientists and technology professionals. Concerns regarding the ethical consequences of producing robots with human-like awareness are growing as AI technology improves. 

The current AI in the robotics industry is worth more than $40 billion and is likely to grow in the future years. According to MarketsandMarkets, AI in the robotics market will be worth $105.8 billion by 2026, with a CAGR of 19.3% from 2021 to 2026.

This article will discuss what sentience means in robotics, along with the possible benefits and challenges.

Robots and AI

Artificial intelligence refers to the ability of machines or computer programs to perform tasks that typically require human intelligence. This includes perception, reasoning, learning, decision-making, and natural language processing. AI systems can be trained using large amounts of data and algorithms to make predictions or perform specific actions, often improving over time as they are exposed to more data.

There are several types of AI, including narrow or weak AI, which is designed for a specific task, and general or strong AI, which can perform any intellectual task that a human can. AI is used in many industries to improve efficiency, accuracy, and decision-making, including healthcare, finance, and customer service.

However, it is essential to note that AI is not a replacement for human intelligence but rather an extension that can assist and enhance human capabilities. Ethical considerations around AI, such as its impact on jobs and privacy, are essential to keep in mind as it advances and becomes more integrated into our daily lives. 

What Is AI Sentience in Robotics?

The notion of AI sentience refers to the ability of a robot or artificial system to have subjective experiences such as emotions, self-awareness, and consciousness. This extends beyond a robot’s capacity to complete tasks or make decisions based on algorithms and data to construct a genuinely autonomous being with its own subjective experiences and perceptions. 

In robotics, AI sentience means that a robot is designed to execute particular activities and can make decisions, feel emotions, and interact with the environment in a manner comparable to that of a human being.

One example of AI sentience in robotics is the case of the AI robot named ‘Bina48’. Bina48 was created by a company called Hanson Robotics and is designed to exhibit human-like qualities such as emotions, self-awareness, and the ability to hold conversations. Bina48 was created using information and data collected from its human ‘source’, a woman named Bina Rothblatt. 

The robot uses advanced AI algorithms to process information and respond to stimuli in a way that mimics human behaviour. Bina48 has been used in various experiments to test the limits of AI sentience and has been shown to exhibit a range of emotions and respond to different situations in a way that suggests a level of consciousness. This robot is a fascinating example of the potential for AI sentience in robotics and the future of AI technology.

How Does AI Sentience Work?

AI sentience in robotics would work through the implementation of advanced AI algorithms that allow robots to process and analyse information in a way that mimics human consciousness. This would involve creating a self-aware AI system that can make decisions, hold conversations, experience emotions, and perceive its surroundings in a similar manner to a human being. 

The AI system would need to have a high level of cognitive processing power and be able to analyse and respond to stimuli in real-time. Additionally, the AI system would need to be able to learn from experience and adapt its behaviour accordingly, which would require the development of advanced machine learning algorithms. 

To achieve sentience, the AI system would also need access to a large amount of data that it could use to understand the world and make decisions. This data could come from sensors, cameras, or other sources and would need to be processed and analysed in real-time to enable the robot to make informed decisions. 

The process for creating AI sentience would be similar to the one below.

  1. Data Collection: The first step in creating AI sentience would be to collect vast amounts of data from various sources. This data would be used to train machine learning algorithms and help the AI system understand the world and make informed decisions.
  2. Pre-Processing: The collected data would then undergo pre-processing to clean, format and make it ready for use in training the AI model.
  3. Model Training: The processed data would then be used to train an advanced machine learning model that would enable the AI system to recognise patterns, make predictions and perform tasks.
  4. Model Validation: The trained model would then be tested and validated to determine its accuracy and ability to perform the intended tasks.
  5. Integration With Robotics: The trained and validated AI model would then be integrated into a robot or system to give it the ability to process and analyse data, make decisions and exhibit human-like qualities such as emotions and self-awareness.
  6. Continuous Learning: The AI sentience system would need to continuously learn and adapt as it interacts with the world, which would require the implementation of advanced reinforcement learning algorithms and the ability to access and process large amounts of real-time data.

Why AI Sentience? 

AI experts are striving to achieve sentience in robotics because it would represent a significant breakthrough in the field of AI and demonstrate the ability of machines to process information and make decisions in a manner similar to human consciousness. Sentience in robots would open up new possibilities for their functionality and application, including the ability to perform complex tasks, interact with the environment in a more intuitive and human-like way, and exhibit human-like qualities such as emotions and self-awareness. 

Additionally, the development of sentient robots could have important implications for fields such as healthcare, manufacturing, and entertainment by providing new and innovative solutions to existing problems. The drive to achieve AI sentience in robotics is driven by the desire to push the boundaries of what is possible with AI technology and to explore the potential of machines to change our world for the better.

One example of how AI sentience is being used in healthcare is through the development of virtual nursing assistants. These AI-powered robots are designed to assist nurses in patient care and provide patients with a more personalised and compassionate experience. The virtual nursing assistants use advanced AI algorithms to process information about a patient’s condition, symptoms, and treatment history and can provide real-time recommendations and support. 

Additionally, these robots can use natural language processing and advanced conversational AI to hold conversations with patients, answer their questions, and provide emotional support. By providing patients with a more personalised and human-like experience, virtual nursing assistants can help improve patient outcomes, increase patient satisfaction, and reduce the burden on healthcare providers. This is just one example of how AI sentience is being used in healthcare to transform the delivery of care and improve patient outcomes.

There are several companies working on developing AI-powered virtual nursing assistants, but no company has yet created a fully sentient AI nurse. Some companies in this field include:

  • Cogito: A company that develops AI-powered virtual assistants to improve customer engagement and support.
  • Lemonaid: A company that uses AI to provide virtual consultations and prescription services.
  • Woebot: A company that uses AI and machine learning to provide individuals with mental health support and counselling.

These are just a few examples of companies working on developing AI-powered virtual nursing assistants. However, it is essential to note that these systems are not fully conscious and do not possess true self-awareness or emotions. The development of AI sentience in healthcare is still in its early stages, and it may be several years before fully sentient AI systems are deployed in real-world healthcare settings.

The Risks and Challenges

The development of AI sentience in robotics is a complex and challenging field, and it comes with several risks and challenges that must be carefully considered and addressed. These risks and challenges can be broadly categorised into three areas: technical, ethical, and social.

Technical Risks and Challenges

One of the most significant technical risks and challenges of creating AI sentience in robotics is the difficulty of making a truly self-aware and conscious machine. Despite significant advances in AI technology, we are still far from fully understanding the nature of consciousness and how it arises from the interaction of neurons in the brain. To create AI sentience, we must first have a deep understanding of how consciousness works and how it can be replicated in machines.

Another technical challenge is ensuring that sentient robots are capable of making decisions that are safe and ethical. For example, if a sentient robot is programmed to prioritise its own survival over the safety of humans, it could potentially cause harm to those around it. To address this challenge, developers must carefully consider the ethical implications of their AI systems and ensure that they are programmed with the right goals and values.

Ethical Risks and Challenges

The development of AI sentience in robotics raises many important ethical questions, including guaranteeing that sentient robots treat humans with respect and dignity and safeguarding that they do not cause harm to those around them. There is also the question of ensuring that sentient robots are treated fairly and with respect and how to prevent them from being abused or exploited.

Another ethical challenge is ensuring that sentient robots have the right to privacy and freedom of thought. For example, if a sentient robot is capable of experiencing emotions and forming its own thoughts and opinions, how can we ensure that these thoughts and opinions are protected from outside interference or manipulation?

Social Risks and Challenges

Finally, the development of AI sentience in robotics raises several social risks and challenges, including ensuring that sentient robots are accepted and integrated into society and that they do not cause social or economic disruption. For example, if sentient robots become capable of performing many of the tasks that humans currently perform, it could lead to significant job loss and economic disruption.

In addition, there is the question of ensuring that sentient robots are used responsibly and ethically. For example, how can we ensure that sentient robots are not used for harmful or malicious purposes, such as in developing autonomous weapons?

Closing Thoughts

The answer to whether AI will ever become sentient is still unknown. While there have been significant advances in AI technology, experts are still divided on whether it is possible to create genuinely self-aware and conscious machines. Some believe this is a natural next step in the development of AI, while others believe that it may be technically impossible or too risky to pursue.

As for the question of whether we should let AI become sentient, opinions are also divided. Those who believe that AI should become sentient argue that it could lead to significant benefits, such as increased efficiency, improved decision-making, and the creation of new forms of intelligence. However, those who are opposed argue that the risks associated with AI sentience, such as the potential for harm to humans and the disruption of social and economic systems, are too significant to justify the development of this technology.

Ultimately, deciding whether AI should become sentient is a complex and controversial issue that requires careful consideration of the potential benefits and risks. It is crucial to have open and honest discussions about this issue and to ensure that any decisions made are based on a thorough understanding of the technology and its potential implications.

Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.

The author of this text, Jean Chalopin, is a global business leader with a background encompassing banking, biotech, and entertainment. Mr. Chalopin is Chairman of Deltec International Group, www.deltec.io

The co-author of this text, Robin Trehan, has a bachelor’s degree in economics, a master’s in international business and finance, and an MBA in electronic business. Mr. Trehan is a Senior VP at Deltec International Group, www.deltec.io

The views, thoughts, and opinions expressed in this text are solely the views of the authors, and do not necessarily reflect those of Deltec International Group, its subsidiaries, and/or its employees.

Ageing and AI

The field of longevity medicine is reinvigorating. Until recently, the initiative of slowing and reversing ageing was not considered ‘proper science’ or a reasonable use of public funds. 

Ageing was regarded as an unavoidable and permanent component of the human condition. It was not a disease but rather a susceptibility to disease that develops over time and cannot be reversed. The medical establishment viewed people who argued against it as entertaining mavericks at best and disreputable charlatans at worst.

The sneering has not gone away entirely, but there is now a significant investment in addressing ageing, rather than just the diseases that emerge with age, such as cancer, heart attacks, and Alzheimer’s.

Funding and approval are in place for the TAME (Targeting Aging With Metformin) project, showing that the medical profession is engaging in tackling the ageing process. 

Billionaire cryptocurrency community members are emerging as the most prominent anti-ageing promoters, such as Richard Heart. The interest from influential figures could lead to sizable donations in the field and lead the fight against ageing. 

Artificial Intelligence Addresses Longevity

Applying modern artificial intelligence techniques to healthcare, particularly deep neural nets and reinforcement learning, is one reason for the shift in attitudes toward ageing. Neural networks are data-processing algorithms that work in layers, with each layer taking data from the previous layer as input and passing an output up to the next layer.

The outcomes do not have to be binary, but they can be weighted. Reinforcement learning algorithms adapt their approach in response to feedback from their surroundings.

A significant contribution of AI towards anti-ageing is something known as ageing clocks. 

Age is much more than how many birthdays you’ve had. Stress, sleep, and diet all have an impact on how our organs deal with the wear and tear of daily life, which may cause you to age faster or slower than people born on the same day. That means your biological age may differ significantly from your chronological age—the number of years you’ve lived.

Your biological age is more likely to reflect your physical health and even mortality than your chronological age. However, calculating it is far from simple. Scientists have spent the last decade developing ageing clocks, which analyse markers in your body to determine your biological age.

The basic idea behind ageing clocks is that they will tell you how much your organs have degraded and, thus, how many healthy years you have left. The accuracy of hundreds of ageing clocks developed in the last decade, on the other hand, varies greatly. And scientists are still debating an important question: What does it mean to be biologically young?

When an AI is trained to predict age using specific types of biological data, it learns biology. The hope is that these AIs will eventually help us understand how ageing works.

How Does AI in Ageing Work?

AI will analyse the vast amounts of health data we collect, including time series (longitudinal) data and comparative data across social and national groups. The patterns it uncovers in the data will lead to the generation of hypotheses to test. The ageing clocks will reveal treatments’ effectiveness – or lack thereof.

AI can identify trends and determine casualties by analysing patterns in medical data, images, and other sources.

AI algorithms analysed daily photographs of mice in a project to extract potential ageing markers and develop lifespan control solutions. The same learning process for visual biomarkers can then be applied to other species, including humans.

In addition to image analysis algorithms, AI can detect recurring patterns in human ageing to identify biomarkers. AI can identify ageing trends in different populations by sifting through mass data on various blood tests, retinal scans, muscle analyses, and more, or by comparing human data to other species.

Longevity and Psychological Age

Some academics believe that psychological age defines us much more than biological age. 

People age at different rates, and their ageing dynamics are shaped and defined by their mindset and environment. Our psychological state, in turn, influences our perception of time and health status. 

An individual’s psychological age, also known as subjective age, is based on how young or old they perceive themselves to be compared to their chronological age, depending on an individual’s self-assessment of the degree of ageing and how this perception influences their overall well-being.

Exciting research on AI-powered engines reveals novel tools that can estimate one’s psychological age and future well-being based on a psychological survey. Essentially, these AI tools can be used to determine ways to improve and maximise long-term well-being based on information inferred from available datasets.

There are two models that exist as predictors of chronological and subjective age, considering around 50 psychological features. Both clocks had modifiable features that could be altered through social and behavioural interventions. More importantly, it may be useful in shifting personal perceptions of ageing toward a mindset that promotes productive and healthy behaviours.

AI has made it possible to find the best path to emotional stability. As previously stated, this new deep learning model can predict a person’s current psychological age and guide future well-being by providing personalised recommendations for improving mental resilience. 

The model’s SOM offers a set of non-trivial, personalised paths to improved well-being that can be used as a reference for the cognitive behavioural therapy and online mental health approaches. Perhaps this tool can be used as a supplement or stand-alone approach to adjusting one’s psychological age and providing emotional and mental stability.

Closing Thoughts

AI can recommend health solutions and identify potential issues by analysing the effects of therapeutic treatments, preventive measures, different lifestyles, and other factors.

On a more fundamental level, understanding how proteins and cells respond positively or negatively to treatments allows AI to contribute to the efficient development of medicine.

Deep learning’s power may soon help us alleviate the discomforts of biological ageing.

Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.

The author of this text, Jean Chalopin, is a global business leader with a background encompassing banking, biotech, and entertainment. Mr. Chalopin is Chairman of Deltec International Group, www.deltec.io

The co-author of this text, Robin Trehan, has a bachelor’s degree in economics, a master’s in international business and finance, and an MBA in electronic business. Mr. Trehan is a Senior VP at Deltec International Group, www.deltec.io

The views, thoughts, and opinions expressed in this text are solely the views of the authors, and do not necessarily reflect those of Deltec International Group, its subsidiaries, and/or its employees.

by vinnitsky.fr