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Amid the many business disruptions caused by covid-19, here’s one largely overlooked: artificial intelligence (AI) whiplash.

As the pandemic began to upend the world last year, businesses reached for every tool at their disposal—including AI—to solve challenges and serve customers safely and effectively. In a 2021 KPMG survey of US business executives conducted between January 3 and 16, half the respondents said their organization sped up its use of AI in response to covid-19—including 72% of industrial manufacturers, 57% of technology companies, and 53% of retailers.

Most are happy with the results. Eighty-two percent of those surveyed agree AI has been helpful to their organization during the pandemic, and a majority say it is delivering even more value than anticipated. More broadly, nearly all say wider use of AI would make their organization run more efficiently. In fact, 85% want their organization to accelerate AI adoption.

Still, sentiment isn’t entirely positive. Even as they’re looking to step on the gas, 44% of executives think their industry is moving faster on AI than it should. More startling, 74% contend the use of AI to help businesses remains more hype than reality—up sharply in key industries since our September 2019 AI survey. In both the financial services and retail sectors, for example, 75% of executives now feel AI is overhyped, up from 42% and 64%, respectively.

How to square these seemingly opposed points of view on what KPMG is calling AI whiplash? Based on our work helping organizations apply AI, we see several explanations about hype. One is the simple newness of the technology, which has allowed for misperceptions about what it can and can’t do, how long it takes to realize enterprise-scale results, and what mistakes are possible as organizations experiment with AI without the right foundation.

Even though 79% of respondents say AI is at least moderately functional at their organization, only 43% say it is fully functional at scale. It is still common to find people who think of AI as something to be purchased—like a new piece of machinery—to deliver immediate results. And while they may have experienced some success with AI—often small proofs of concept—many organizations have learned that scaling them to enterprise level can be more challenging. It requires access to clean and well-organized data; a robust data storage infrastructure; subject matter experts to help create labeled training data; sophisticated computer science skills; and buy-in from the business.

Of course, it also is no stretch to believe proponents of AI may have exaggerated its potential from time to time or discounted the effort required to realize its full value.

As to why executives are conflicted about the speed of AI’s adoption, we see basic human nature at play. For starters, it’s always easier to believe the grass is greener on the other side. We also suspect a lot of people worry their industry is moving too fast primarily because their own organization isn’t matching that speed. If they’ve experienced early-stage hiccups with AI—especially last year, when the world witnessed AI-enabled accomplishments like record-fast development of covid-19 vaccines—it may have been easy to succumb to those fears.

We see another factor driving mixed feelings about AI’s potential—the absence of an established legal and regulatory framework to guide its use. Many business leaders don’t have a clear view into what their organization is doing to govern AI, or what new government regulations might lie ahead. Understandably, they’re worried about the associated risks, including developing use cases today that regulators might squash tomorrow.

This uncertainty helps explain yet another seemingly contradictory finding from our survey. While business executives typically take a skeptical view of government regulation, 87% say government should play a role in regulating AI technology.

Moving on from AI whiplash

While every organization will need its own playbook to recover from AI whiplash and optimize its investment in the technology, a comprehensive plan should include five components:

A strategic investment in data. Data is the raw material of AI and the connective tissue of a digital organization. Organizations need clean, machine-digestible data labeled to train AI models, with the help of subject matter experts.

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By: Ellen Campana, Swami Chandrasekaran
Title: Navigating a surprising pandemic side effect: AI whiplash
Sourced From: www.technologyreview.com/2021/06/21/1026580/navigating-a-surprising-pandemic-side-effect-ai-whiplash/
Published Date: Mon, 21 Jun 2021 16:00:00 +0000

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LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys

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Bitso, a leading cryptocurrency platform operating in Latin America, and the Mexican Football Federation (FMF), today announced the joint launch of the first collectible NFT of the Mexico National Team’s jerseys that was acquired in cryptocurrencies.

This morning through their social media platforms, the FMF and Bitso announced the opportunity to acquire the new official National Team fan jerseys ahead of the team’s participation in the 2022 World Cup. In just 20 minutes, the entire collection sold out.

bitsonftjeysey
The NFTs of the jerseys have an exclusive design for the metaverse – each is unique on the blockchain and can be resold by its owner in subsequent transactions.

The collection consisted of 100 official physical jerseys, each with a corresponding NFT version of the jersey that fans’ avatars can wear within the Decentraland metaverse. Each physical and NFT jersey set sold for the equivalent of $1,800 MXN in ethers.

“Our mission is to make cryptocurrency useful in the everyday life of Mexicans; we are committed to spreading the technology through innovative opportunities that help people throughout the country familiarize themselves with this new world. We are very excited to offer the incredible, historic opportunity for the fans of our National Team so that through their Bitso account, they can wear the colors of the National Team on and ‘off’ the field in the metaverse.”
– Bárbara González Briseño, General Director of Bitso México

Jersey NFTs

Created by Bitso, the virtual jersey sports the official colors of Mexico and the new National Team shield, characteristics that will make it stand out when users wear it in the virtual world of Decentraland.

The post LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys appeared first on CryptoNinjas.

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By: CryptoNinjas.net
Title: LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys
Sourced From: www.cryptoninjas.net/2022/07/29/latam-crypto-exchange-bitso-and-fmf-launch-nft-of-mexicos-national-team-jerseys/
Published Date: Fri, 29 Jul 2022 15:19:02 +0000

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Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth

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EXMO, a crypto exchange platform operating since 2014, announced this week a rebranded visual identity with includes a new logo, brand colors, and design features. This new branding comes as EXMO continues to grow its crypto platform while also seeking to expand its presence in other jurisdictions.

Some new developments underway at EXMO:

Soon, users will be able to earn passive income from EXMO’s new staking platform.Plans to launch an EXMO crypto debit card.Expansion of its services in international markets with the opening of offices in Poland and Lithuania.

EXMO’s new logo

The rationale for the re-brand:

“At EXMO, we have a vision of a world where crypto is in every wallet. Hassle-free. We want to achieve this by making crypto as simple and accessible to everyone as possible. And we know that you already appreciate EXMO for offering user-friendly services and helpful support. Also for the opportunity to trade anywhere and anytime, closing deals in just a few taps. Such important changes required a rethinking of our corporate style, which has long needed a massive upgrade. So today we are introducing a new brand identity for EXMO with a completely new visual concept. We are launching a new logo, brand colors, and design elements. Our key design principles are simplicity, boldness, and a pinch of fun. But most importantly, we have changed our logo. Simple and easily recognizable, it represents the humanity of our brand. The logo stands out due to the wavy letter ‘m’ which symbolizes exchange rate charts and also resembles a spring that will launch you into the crypto world.”
– The EXMO Team regarding the re-branding

The post Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth appeared first on CryptoNinjas.

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By: CryptoNinjas.net
Title: Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth
Sourced From: www.cryptoninjas.net/2022/07/26/long-running-crypto-exchange-exmo-unveils-lively-rebrand-amidst-growth/
Published Date: Tue, 26 Jul 2022 08:10:38 +0000

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https://www.mansbrand.com/stitching-together-the-grid-will-save-lives-as-extreme-weather-worsens/

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Stitching together the grid will save lives as extreme weather worsens

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The blistering heat waves that set temperature records across much of the US in recent days have strained electricity systems, threatening to knock out power in vulnerable regions of the country. 

The electricity has largely stayed online so far this summer, but there have been scattered problems and close calls already. 

Heavy use of energy-sucking air-conditioners is the biggest problem. But intense heat can also reduce the output of power plants, blow transformers, and force power lines to sag. Severe droughts across large parts of the country have also significantly reduced the availability of hydroelectric power, according to the North American Electric Reliability Corporation (NERC). 

It’s unlikely to get better soon. A number of grid operators may struggle to meet peak summer demand, creating the risk of rolling blackouts, the NERC report notes.

The nation’s isolated and antiquated grids are in desperate need of upgrades to keep the lights, heat, and air-conditioning on in the midst of extreme weather events that climate change is making more common, severe, and dangerous. One clear way to ease many of these issues is to more tightly integrate the country’s regional grids, stitching them together with more long-range transmission lines. 

If electricity generated in one area can be more easily shared across much wider regions, power can simply flow to where it’s needed at those moments when customers crank up air-conditioners en masse, or when power plants or fuel supply lines fail amid soaring temperatures, wildfires, hurricanes, or other events, says Liza Reed, a research manager focused on transmission at the Niskanen Center, a Washington, DC, think tank.  

The problem is it’s proved difficult to build more long-range transmission and grid interconnections for a variety of reasons, including the permitting challenges of erecting wires through private and public lands across cities, counties, and states and the reluctance of local authorities to forfeit control or submit to greater federal oversight.

The case of Texas

The unreliability of the US grid is not a new problem. Severe heat and winter storms have repeatedly exposed the frailty of electricity systems in recent years, leaving thousands to millions of people without power as temperatures spiked or plunged.

One of the fundamental challenges is that the grids today are highly fragmented. There are three main electricity networks within the US: the Eastern Grid, the Western Grid, and the Electric Reliability Council of Texas (ERCOT). But there are numerous regional transmission organizations within those first two systems, including the California Independent System Operator, Southwest Power Pool, PJM Interconnection, New York ISO, and more. 

These grids form a complex web of networks operating under different regulators, rules and market structures, and often with limited connections between them.

Map USA grid
A variety of regional transmission organizations oversee different parts of the nation’s aging and fragmented grids, which operate under different rules and with often limited connections between them.
legend

ERCOT is especially isolated, in part because of the desire among local politicians, citizens, and power companies to avoid added competition, the hassle of following other states’ rules, and oversight from the Federal Energy Regulatory Commission (FERC). But the state offers a case study in why that can be a serious problem amid increasingly harsh climate conditions, Reed says.

The Texas grid operator pleaded with customers several times earlier this month to cut electricity use as blistering summer temperatures created  demand surges that threatened to outstrip supply and require rolling blackouts.  Low wind conditions, cloud cover, and outages at fossil-fuel power plants added to the strains.

Shutting off the electricity needed to run air-conditioning in triple-digit temperatures

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By: James Temple
Title: Stitching together the grid will save lives as extreme weather worsens
Sourced From: www.technologyreview.com/2022/07/28/1056483/stitching-together-the-grid-will-save-lives-as-extreme-weather-worsens/
Published Date: Thu, 28 Jul 2022 08:00:00 +0000

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