AI's moral compass 🤖
The AI threat: OpenAI's wake-up call, Vitalik's warning and Amazon's Q. CZ steps down from Binance.US board. All this good for Coinbase? ARK sells more.
Hello, y'all. Music fans can now discover new and unique sounds from up-and-coming artists. Check out 👉 Asset - Your Music Stats.
Hawking has few words to share👇
This is The Token Dispatch 🙌 you can hit us on telegram 🤟
Is AI a threat or a boon?
Friend or foe?
Saviour or saboteur?
Guess who had a sudden wake-up call? OpenAI's board.
OpenAI researchers, donning their digital capes, sounded the alarm bells about the potential dangers of artificial intelligence (AI) to humanity.
Several OpenAI researchers came together to pen a letter of caution to the board of directors.
The message? AI poses a significant threat to our species.
They flagged the “prowess” and “potential danger” of an internal research project known as “Q*.”
However, not everyone is buying into the hype.
AI experts, including Yann LeCun, quickly voiced their skepticism, suggesting that Q* might be nothing more than an extension of existing AI work.
In fact, some researchers pointed out that Q* could be related to concepts like Q-learning and A*, which have been around for years.
But, what did Elon Musk say recently?
“There’s some chance – above zero – that AI will kill us all. I think it’s low but there’s some chance.”
There has always been big debates and of course movies on weather AI is a big threat to humanity.
Not wanting to take any risk, US, UK, and 16 other nations release 'Secure by Design' AI guidelines.
The "secure by design" AI guidelines offer a set of cybersecurity practices that AI companies should adopt during the design, development, launch, and monitoring of AI models.
Some key takeaways
Prioritising Security: The guidelines emphasize that security should be a primary consideration throughout the AI development process, not merely an afterthought.
Infrastructure Management: AI companies are encouraged to maintain tight control over the infrastructure that supports their AI models to prevent unauthorised access and tampering.
Monitoring for Tampering: Continuous monitoring for any unauthorised alterations to AI models, both before and after deployment, is essential to maintain their integrity.
Cybersecurity Training: Companies should provide cybersecurity training for their staff to increase awareness of potential risks and vulnerabilities.
Retool conducted a survey
Despite this surge, the AI landscape is rife with mixed sentiments.
While 51.6% of respondents consider AI to be over-hyped, only 23.4% believe it's fairly rated.
Upper management and executives tend to view AI more favorably, whereas those closely involved in implementation are more skeptical.
Impact on Industries and Jobs
Respondents anticipate significant transformations in their industries and jobs due to AI within the next five years.
On a scale of 0 to 10, the average impact score exceeds 7.
Shift in Developer Behaviour
Close to 60% of survey takers use Stack Overflow less since 2022.
GitHub Copilot and ChatGPT are the primary reasons for this shift, mentioned by nearly 94% of respondents.
Value of AI Skills
Respondents are generally open to hiring candidates with AI coding skills, averaging a rating of 6.7 on a 10-point scale.
Small startups are the most receptive, while mid-size enterprises are more cautious.
About 30% remain neutral on AI coding skills, rarely viewing them negatively.
Drivers for Corporate AI Adoption
Most companies pursue AI for cost savings (38.7%) and because it's trendy (35.2%).
Other motivations include addressing customer needs (32.9%) and competitive pressure (31.1%).
Only 25.5% consider direct revenue impact as a primary driver.
Usefulness and Imperfections of AI
AI tools are considered largely useful but imperfect.
Key concerns include model output accuracy (40%), data security (33.4%), and occasional hallucinations (28.1%).
OpenAI's ChatGPT models are widely adopted by enterprises.
Customisation remains less common, with off-the-shelf offerings preferred.
What do we think? In AI, it's essential to separate the hype from reality.
While there's always room for caution and ethical considerations, not every AI project is a doomsday device in the making.
Vitalik Buterin, Ethereum guy.
"A super intelligent AI, if it decides to turn against us, may well leave no survivors and end humanity for good … Even Mars may not be safe.”
The next one to sound the alarm? Ethereum creator Vitalik Buterin.
Buterin raised a red flag on the way AI is developed and its potential consequences.
He likened the worst-case scenario of AI turning against us to other catastrophic events like climate change, pandemics, or nuclear war.
What sets AI apart is its potential to wipe out humanity entirely, leaving no survivors.
Anyone for Minority Report?
Buterin cited a 2022 survey by AI Impacts, revealing that between 5% and 10% of respondents believe AI could lead to human extinction or that we might fail to control it.
To counter these threats, Buterin proposed a security-focused open-source approach to AI development, as opposed to the closed, proprietary models favoured by corporations and venture capital funds.
“There are certain types of technology that much more reliably make the world better than other types of technology. There are certain types of technology that could, if developed, mitigate the negative impacts of other types of technology.”
Key suggestions by Buterin
Open-Source Approach: He advocates a security-focused, open-source model for AI development.
Human Intention: Prioritising human intentions, not just profit, is crucial in AI development.
Balanced Technology: Different technologies can either enhance or mitigate negative impacts, requiring thoughtful consideration.
Guarding Against Authoritarianism: Preventing power concentration and favouring a defense-oriented approach is vital in AI development.
The SEC is seeking public feedback on whether it should approve or disapprove a spot bitcoin ETF proposed by Franklin Templeton and Hashdex👇🏻
TTD Amazon 📦
Now, moving on to Amazon's Q.
Amazon is not just knocking on the AI door; it's barging right in.
Say hello to Amazon Q, a powerful generative AI assistant, crafted to cater to the corporate world's needs.
Not your ordinary AI assistant. It's designed to be your trusty sidekick in the business realm, offering so many capabilities to supercharge productivity.
It provides immediate, relevant information and advice to streamline tasks in the workplace.
Accelerates decision-making and problem-solving processes for employees.
It helps spark creativity and innovation at work.
Users can connect to their company's information repositories, code, data, and enterprise systems.
It can generate content, including social media posts, stories, and speeches about business performance and data.
Users can create unified customer profiles and organise data for quality reports.
Offers tailored responses based on user identity, role, and permissions.
More Than Just Q
But that's not all Amazon had up its sleeve.
In addition to Amazon Q, the company unveiled a host of serverless offerings and AI enhancements.
These moves aim to simplify cloud database management, boost response times, and cut costs for customers.
Amazon's AI Gamble
Amazon's investment in Anthropic, an AI firm, provides computational power for Q and positions Amazon to compete in the AI market.
Amazon also plans to enhance its Alexa ecosystem with AI and Large Language Models (LLMs) for natural voice interactions and smart home functions.
TTD Coinbase 🧿
There are a few updates on Coinbase that you might not wanna miss
ARK Invest's Coinbase Sell-off
Cathie Wood's ARK Invest recently sold $5.3 million worth of Coinbase shares - third installment of her Coinbase sell-off series.
Back in July, $103 million worth went out the door, followed by another round of 65,376 shares in October.
Similar sell-offs happened with Grayscale Bitcoin Trust earlier when the shares' value surged.
But it's not a sign of her waning faith in Bitcoin.
Instead, it's a strategic manoeuvre to adjust weightings in her ETFs.
While she trims Coinbase, Wood remains bullish on Bitcoin.
ARK Invest and 21Shares are gearing up for a Bitcoin spot ETF and planning to launch five crypto exchange-traded products.
The Binance hike
Binance's legal issues could stabilise the market by removing a major player known for rapid expansion and aggressive tactics, benefiting Coinbase and other compliant exchanges.
Coinbase's regulatory compliance and licenses give it an advantage over exchanges with legal problems.
On Nov 27, Coinbase shares have reached an 18-month high following the recent charges against Binance.
The surge puts Coinbase shares up by 256.5% year-to-date, although they are still down 65% from their all-time high in November 2021.
Coinbase CEO Brian Armstrong believes that the recent settlement between Binance and the U.S. Department of Justice will help the cryptocurrency industry move past its "bad actors."
Armstrong stated that the enforcement action against Binance and the now-bankrupt FTX shows that taking business offshore does not work.
The CFTC battle
Coinbase users have received emails informing them that their trading data may be shared with the Commodities Futures Trading Commission (CFTC) after Coinbase was served with a subpoena.
TTD CZ 🔶
Changpeng "CZ" Zhao, the former CEO of crypto exchange Binance, is stepping down from his role as chair of the board of directors for Binance.US.
While Binance.US was not directly implicated in the settlement, CZ has chosen to step down voluntarily.
Binance.US expressed its gratitude for CZ's past contributions but clarified that he would no longer be involved in its governance. Instead, CZ will transfer his voting rights through a proxy.
BitMEX founder Arthur Hayes has criticised the US treatment of Binance and its former CEO Changpeng Zhao (CZ), calling it "absurd."
He argued that the $4.3 billion fine imposed on Binance by US authorities was arbitrary and suggested that CZ's rise to wealth and power challenged the financial and political establishment.
CZ "rose to become one of the richest humans on earth in less than a decade, and his rise was predicated on allowing millions worldwide to trade crypto. For some, that meant Binance was their way to purchase a coin or token that was a ticket to financial freedom. For others, it was a very efficient way to speculate on a new political, economic, and technological system." Hayes said.
TTD Surfer 🏄
Pika Labs, a startup, has launched its AI video generation tool, Pika 1.0, to compete against tech giants like Meta, Adobe, and Stability AI.
The secretary-general of Amnesty International has stated that the idea of a choice between AI innovation and regulation is a false dichotomy.
Director of "Blade Runner," has joined other prominent directors in expressing concern over the potential catastrophic impact of AI.
If you like us, if you don't like us .. either ways do tell us✌️
So long. OKAY? ✋
The Token Dispatch is a daily newsletter that takes you on a 4-5 minute drive through the wild west of the Crypto World. Daily in your email inbox @13:00 GMT. Almost always.