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About Orderly Desks, Disorderly Desks, The Gorillaz, and Mensa

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This Slogging thread by Linh, richard-kubina, Amy, Anthony Watson, Guy, David, Arthur, Kien and yours truly occurred in hackernoon’s official #random channel, and has been edited for readability.

Since you commented about it David here’s my desk for you to judge how orderly I am

i see you and i raise you… my house. http://instagram.com/linhdaosmooke

(i’m a clean freak and i’m pretty sure david still has ptsd from me too!!!)

gorillaz! which (audio) monitors are those?

Nice house guys! Awesome job Linh! I moved here almost half a year ago and Im pretty proud of how my desk came together so far

Yup! Gorillaz collectibles… Because why not hehe these bad boys are Kanto TUK speakers… Pretty much studio monitor quality, those ribbon tweeters are pretty sweet

Linh and Bruno, the Monica’s LOL

when I was boss, I was always little suspicious of a “clean” desk. In my experience, the hardest workers often had the messiest desks. IMO of course

Checkmate.

still a little too organized for my liking LOL

Shiiit and I thought I was bad LOL

Guy are you doing whippits?

Anthony Watson I had to tidy it up a bit for the picture 😉

Is that some kind of American slang I’m not up to date with? 😂

Guy yep, I do not have time to even do that so I will not be posting any photos of my desk.

Just a pair of the hardest workers chatting about our desks… 🙂

probably haha. it was in regards to the office dust spray can … something something nitrous oxide

richard-kubina I managed to dig out this old photo of me from a few years back, don’t worry I’ve straightened up my act now.

you are wrong Anthony Watson.

Linh actually you disagree with my opinion. I am not wrong unless you can produce objective metrics

nope, you are just wrong. #facts.

I used to have a lot messier desk but after I moved to a new place I made it a point to have a clean desk… Hopefully my productivity didnt suffer 🙄

#alternativefacts

hahaha in all seriousness though, this is a great use case to teach our daughter the difference between facts and opinions (one of her favorite books is called facts vs opinions vs robots)

it is what they do not teach in school any longer…critical thinking

my children hate debating anything with me…it is just a pain with Dad

dads all into those pesky #facts

Moral of the story Linh, Norah not cleaning her room is an advantage in the long run :man-shrugging:

THATS what you get from this????

as Will Smith says: parents just don’t understand

it is a sign of high intellect…I truly believe it and I am a member of Mensa

Who do you get into Mensa? An IQ test?

yes…IQ must be in top 2% of society so it fluctuates a little bit depending on how smart your “era” is

Great desk Bruno Molteni. I got to up my speaker game, we have a broken surround sound system.

Anthony Watson so if your IQ is certain number, they just let you in? Do you get a Mensa card to prove it?

SHOW ME OTHERWISE IT NEVER HAPPENED

Also got to plug us covering Clint Eastwood in honor of that Gorillaz memorabilia https://www.youtube.com/watch?v=JTL1gaKF6UQ Linh

Bruno Molteni what keyboard are you rocking? Those look like some heavy keys.

David looks like a keychron k6 😉

wait… how do you Guy

DO YOU DO MUSIC TOO

Wow, you know my office just such a damn disaster. I literally have to recall the location of every single item in a 4 dimensional grid. However, a search revealed this thirty year old document. Marie Kondo hates me BTW David

Guy MARSHALLOWS? REALLY? YOU STILL EAT MARSHMALLOWS

THEY WERE IN THE CUPBOARD AND I WAS SNACKY 😭

he was born last month david

Anthony Watson “Genius since 93” reminds me of “vomit-free since 93” https://how-i-met-your-mother.fandom.com/wiki/Vomit_free_since_%2793

y’all jealous

David IF I was a genius presumably that would be from birth when JFK was president. I eschewed Mensa because it was a whole bunch of poor smart people. However, as times got tougher and I had no degree the tech industry really wanted college. To survive I joined Mensa to give a certification for the CPU size I was born with. However, I know the most important thing is CQ not IQ…character quotient. IQ is just like having red hair or being tall. It is a thing but not the only thing. Jeez. I only speak one language I have no claim to being a genius. BUT the clean desk dirty desk is a long debate of my career. i had to weigh in. IQ is ONE measure of problem solving but only ONE. I perform well there, but what if you ask me to fix my car…well I am mechanically retarded and I would be challenged. I have done it of course, but I recognize the diversity of intellect…there are many facets to it.

Not to flex or nothin….

Guy Mensa will have a proctor there sir

158 IQ me definitely didn’t just have to Google what a “proctor” was 😭

Well that ended well… https://en.wikipedia.org/wiki/John_Proctor_(Salem_witch_trials)

Anthony Watson I didn’t realize how much Mensa was bridging the meritocracy over certification gap. Very interesting!

Anthony Watson couldn’t help but notice the massive chess board behind you, do you have an elo/rating??

Guy I have never played in an international tourney so I only have a USCF rating That scale is rating 2200 is a National Master 2000 is Expert 1800 is Class A 1600 Class B …my high water mark was 1976. My current rating is a semi respectable 1700 only because the USCF started putting a “floor” on people’s ratings. because it got so high even if I play crappy it will never go below 1700. I think it is also a ploy to get old guys to play and give up rating points to youngsters without the additional humiliation of a triple digit chess rating.

Anthony Watson oh wow! That’s impressive man! I started playing a bit recently and had no idea how much depth the game has, making me feel proud of my messy desk now, maybe you could give me a couple lessons😉

I totally agree with Anthony Watson – my desk is a total mess.

ohh wow… this thread blew up overnight! … first of all, Anthony Watson I’m also a member of Mensa! 😄 I joined back in Buenos Aires, when I was 16 ( at the time I was the youngest member in my city )… and I STILL have a clean desk… just facts 😛

David the keyboard is a Keychron K2 my first mech keyboard and I’ve loved it ever since I got it 🙂 now im thinking wether to go the slim mech keyboard route…

awesome singing and rapping btw! I just LOVE clint eastwood, I think it’s my fav song by them… and your cover is awesome! makes me wanna do a deep house remix 👀

Bruno Molteni I got the Keychron K1 (slim one) a few months ago and it’s great!

awesome… I’m really tempted by it! how noisy is it ?

I got it in browns and wouldn’t class it as a “loud” keyboard, I used to rock a Ducky one2 in browns which was a lot noisier 😉

great to hear!

hold up!!! Bruno Molteni

David keychron k2 is pretty sweet, def worth for mac users

Well now we’re officially hand pals 😂 dunno why but I always get comments about the hand when I show people my office…

your set is literally mine plus some expensive-ass speakers and vr goggles, danggg

This thread definitely should be http://slogging.com just saying Bruno Molteni

Since you all liked the first pic so much, This is next to my desk: my music corner

is that a beats studio 3??? 😂

you know what i take it back it aint beats

The headphones? Those are sony h.ear 2!

Bruno Molteni So glad you could come here and defend the fact that the state of one’s desk is a matter of taste and not a sign of intellect or productivity …despite my own bias on the matter. I guess the thread officially got to 100 “lurkers” since we are both here.👽

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Energy

Nuclear waste recycling is a critical avenue of energy innovation

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No single question bedevils American energy and environmental policy more than nuclear waste. No, not even a changing climate, which may be a wicked problem but nonetheless receives a great deal of counter-bedeviling attention.

It’s difficult to paint the picture with a straight face. Let’s start with three main elements of the story.

First, nuclear power plants in the United States generate about 2,000 metric tons of nuclear waste (or “spent fuel”) per year. Due to its inherent radioactivity, it is carefully stored at various sites around the country.

Second, the federal government is in charge of figuring out what to do with it. In fact, power plant operators have paid over $40 billion into the Nuclear Waste Fund so that the government can handle it. The idea was to bury it in the “deep geological repository” embodied by Yucca Mountain, Nevada, but this has proved politically impossible. Nevertheless, $15 billion was spent on the scoping.

Third, due to the Energy Department’s inability to manage this waste, it simply accumulates. According to that agency’s most recent data release, some 80,000 metric tons of spent fuel—hundreds of thousands of fuel assemblies containing millions of fuel rods—is waiting for a final destination.

And here’s the twist ending: those nuclear plant operators sued the government for breach of contract and, in 2013, they won. Several hundred million dollars is now paid out to them each year by the U.S. Treasury, as part of a series of settlements and judgments. The running total is over $8 billion.

I realize this story sounds a little crazy. Am I really saying that the U.S. government collected billions of dollars to manage nuclear waste, then spent billions of dollars on a feasibility study only to stick it on the shelf, and now is paying even more billions of dollars for this failure? Yes, I am.

Fortunately, all of the aggregated waste occupies a relatively small area and temporary storage exists. Without an urgent reason to act, policymakers generally will not.

While attempts to find long-term storage will continue, policymakers should look towards recycling some of this “waste” into usable fuel. This is actually an old idea. Only a small fraction of nuclear fuel is consumed to generate electricity.

Proponents of recycling envision reactors that use “reprocessed” spent fuel, extracting energy from the 90% of it leftover after burn-up. Even its critics admit that the underlying chemistry, physics, and engineering of recycling are technically feasible, and instead assail the disputable economics and perceived security risks.

So-called Generation IV reactors come in all shapes and sizes. The designs have been around for years—in some respects, all the way back to the dawn of nuclear energy—but light-water reactors have dominated the field for a variety of political, economic, and strategic reasons. For example, Southern Company’s twin conventional pressurized water reactors under construction in Georgia each boast a capacity of just over 1,000-megawatt (or 1 gigawatt), standard for Westinghouse’s AP 1000 design.

In contrast, next-generation plant designs are a fraction of the size and capacity, and also may use different cooling systems: Oregon-based NuScale Power’s 77-megawatt small modular reactor, San Diego-based General Atomics’ 50-megawatt helium-cooled fast modular reactor, Alameda-based Kairos Power’s 140-megawatt molten fluoride salt reactor, and so on all have different configurations that can fit different business and policy objectives.

Many Gen-IV designs can either explicitly recycle used fuel or be configured to do so. On June 3, TerraPower (backed by Bill Gates), GE Hitachi, and the State of Wyoming announced an agreement to build a demonstration of the 345-megawatt Natrium design, a sodium-cooled fast reactor.

Natrium is technically capable of recycling fuel for generation. California-based Oklo has already reached an agreement with Idaho National Laboratory to operate its 1.5-megawatt “microreactor” off of used-fuel supplies. In fact, the self-professed “preferred fuel” for New York-based Elysium Industries’ molten salt reactor design is spent nuclear fuel and Alabama-based Flibe Energy advertises the waste-burning capability of its thorium reactor design.

Whether advanced reactors rise or fall does not depend on resolving the nuclear waste deadlock. Though such reactors may be able to consume spent fuel, they don’t necessarily have to. Nonetheless, incentivizing waste recycling would improve their economics.

“Incentivize” here is code for “pay.” Policymakers should consider ways that Washington can make it more profitable for a power plant to recycle fuel than to import it—from Canada, Kazakhstan, Australia, Russia, and other countries.

Political support for advanced nuclear technology, including recycling, is deeper than might be expected. In 2019, the Senate confirmed Dr. Rita Baranwal as the Assistant Secretary for Nuclear Energy at the Department of Energy (DOE). A materials scientist by training, she emerged as a champion of recycling.

The new Biden administration has continued broadly bipartisan support for advanced nuclear reactors in proposing in its Fiscal Year 2022 Budget Request to increase funding for the DOE’s Office of Nuclear Energy by nearly $350 million. The proposal includes specific funding increases for researching and developing reactor concepts (plus $32 million), fuel cycle R&D (plus $59 million), and advanced reactor demonstration (plus $120 million), and tripling funding for the Versatile Test Reactor (from $45 million to $145 million, year over year).

In May, the DOE’s Advanced Research Projects Agency-Energy (ARPA-E) announced a new $40 million program to support research in “optimizing” waste and disposal from advanced reactors, including through waste recycling. Importantly, the announcement explicitly states that the lack of a solution to nuclear waste today “poses a challenge” to the future of Gen-IV reactors.

The debate is a reminder that recycling in general is a very messy process. It is chemical-, machine-, and energy-intensive. Recycling of all kinds, from critical minerals to plastic bottles, produces new waste, too. Today, federal and state governments are quite active in recycling these other waste streams, and they should be equally involved in nuclear waste.

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Source: https://techcrunch.com/2021/06/13/nuclear-waste-recycling-is-a-critical-avenue-of-energy-innovation/

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CNBC

Watch Ubisoft’s Forward event at E3 2021 in 12 minutes

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To say Ubisoft had a busy E3 2021 would be an understatement — it touched on many of its biggest game franchises, including relatively new ones that didn’t get more than a teaser in years past. Thankfully, you don’t have to wade through the gaming giant’s entire presentation to see the star attractions. We’ve produced a video that captures the highlights of Ubisoft Forward in 12 minutes. Rainbow Six Extraction and Avatar: Frontiers of Pandora are just some of the attention-getters — you’ll also see news for Far Cry 6, Mario + Rabbids and more.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.

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5 New NFT Platforms Riding Crypto’s Latest Wave

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With NFT sales having topped $2 billion during the first quarter of 2021, a raft of new platforms have come online seeking to capitalize on crypto’s latest gold rush.

The appeal of a blockchain-based token that confers proof of ownership can be debated all day long, but to date the public’s appetite has been insatiable. NFTs representing digital merchandise, in-game collectibles, trading cards, artworks, audiovisual content and even albums have been minted, bought and sold at a frankly dizzying rate, and though talk of a “bubble” has been more or less ceaseless since the train left the station, investors continue to dream up ways of both exploiting the current mania and advancing the industry as a whole.

Here are five new platforms hoping to become mainstays of the burgeoning NFT landscape.

Nafter

Nafter fuses NFTs and social media, helping influencers convert memorable photographs into highly sought-after digital tokens that can be acquired by ardent followers. 

An online marketplace built for both creators and fans, the web app is refreshingly simple to use: all influencers need to do is take a photo with their smartphone, mint it as an NFT, post it on Nafter, then share and sell to the highest bidder. Keen fans can also “stake” on a creator’s profile in order to qualify for access to exclusive content by that creator; stakers also get to earn additional NAFT tokens into the bargain. This governance token enables 0% on Nafter transactions and also allows holders to vote on platform upgrades.

Interestingly, Nafter content creators – models, fashion bloggers, photographers, fitness gurus – can customize who can see their NFTs, choosing between making posts public or for collectors/stakers only. Essentially, the platform lies at the intersection of Instagram, Defi, and NFTs, representing a new monetization strategy for influencers the world over.

Opulous

Opulous is another newly-launched NFT platform that leans on defi – decentralized loans, specifically. Designed to alter the way musicians access the funding they need, Opulous also represents a launchpad for the release of copyright-backed music NFTs.

With the likes of Kings of Leon and Aphex Twin having already proven the music-as-NFT use case, Opulous has partnered with Binance for a series of exclusive drops featuring work from artists including Lil Yachty and Kyle. Products in the pipeline include defi loans backed by future royalties, which will allow musicians to forward-plan production without relying on record labels. 

Within the Opulous ecosystem, artists earn royalty revenue directly from copyright shares, giving them a passive income and providing something the music industry sorely lacks – transparency. And lest you think Opulous is a shameless music-NFT cash-in, it was actually founded by Lee Parsons, the boss of music distribution platform Ditto Music.

Voice 

NFTs aren’t, on the face of it, the most environmentally-friendly commodities. After all, the vast majority are built on Ethereum – an energy-intensive Proof-of-Work blockchain with a considerable output. On a more positive note, Ethereum plans to transition to greener Proof-of-Stake in the near future – and there are dedicated NFT platforms tackling the problem in the here and now. Step forward, Voice.

Voice is an environmentally-conscious NFT platform built on EOSIO, one that specializes in the creation of carbon-neutral NFTs which are free to mint for all creators. Currently in private testing – but scheduled for a public beta launch later this summer – Voice is on a mission to empower creatives in multiple creatives. To that end, it has teamed up with leaders in arts and culture to launch an NFT Residency through which creative minds can connect with true fans.

“Our residency brings emerging artists into the fold by partnering them with internal technologists to leverage our shared experience and create digital collectables, deep in thought and practice,” says William Anderson, VP of Engineering at Voice.

Curators of the Residency in question, incidentally, include cultural commentator Misan Harriman, data protection expert Brittany Kaiser, 3D Instagram artist Chad Knight, and Paddle8 co-founder Alexander Gilkes. We expect we’ll be hearing lots about Voice in the coming months.

Bitski 

NFT marketplaces might seem kind of ubiquitous, but Bitski has some serious muscle behind it: Jay-Z, Serena Williams and the Winklevoss brothers contributed to its latest funding round led by Andreesen Horowitz, which raised $19 million.

Described as “Shopify for NFTs,” the San Francisco startup does what you’d expect a marketplace to do: it enables users to create, sell and own unique digital content. That content can include everything from custom AR skins for use in various gaming apps, art drops with built-in royalty schemes, golden tickets that grant holders early access to exclusive content, and even NFTs representing a real-world item.

Bitski is free until the moment you create an NFT, whereafter you can choose between three subscription tiers, easily mint and sell NFTs from your own online storefront, and access round-the-clock customer support. Users, meanwhile, can bid on and sell items at their leisure, interacting with emerging and established artists and accessing a range of nifty tokenized goods.

Anima 

Users tend to be able to interact with NFTs via their digital wallets, but as time goes on, such tokens will, and indeed already are acquiring more functionality. Anima, for example, combines the worlds of non-fungible tokens and Augmented Reality (AR), with tokens on its platform usable in what it calls the “camera metaverse.” 

Having recently raised $500,000 from investors including Coinbase, Anima is preparing to launch its Consensys Palm-based marketplace later this month and has already dropped a few NFTs on Nifty Gateway. Augmented Reality NFTs theoretically enable users to interact with them as they would in the real world – thus, you could mount an AR NFT of a painting on your very own (virtual) living room wall.

The potential for bringing unique digital art objects into an immersive AR environment is enormous, and it’s easy to imagine the domino effect when VR and AR really starts motoring in the years ahead: Apple is rumored to have hundreds of employees working on VR/AR projects, and an AR product could be only a year away.

With so many platforms busy building, it’s easy to forget that NFTs are a new and emerging technology. The mind boggles at how the landscape might look in a year or two. In any case, don’t expect the NFT hype to die down anytime soon. 

Disclaimer: This material is not sponsored by any organization mentioned in the article.

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Artificial Intelligence

Global Economic Impact of AI: Facts and Figures

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Sharmistha Chatterjee Hacker Noon profile picture

@sharmi1206Sharmistha Chatterjee

https://www.linkedin.com/in/sharmistha-chatterjee-7a186310/

Summarization of Research Insights from Emerj, Harvard Business Review, MIT Sloan, and Mckinsey

Wall Street, venture capitalists, technology executives, data scientists — all have important reasons to understand the growth and opportunity in the artificial intelligence market to access business growth and opportunities. This gives them insights on funds invested in AI and analytics as well potential revenue growth and turnover. Indeed, the growth of AI, continuing research, development of easier open source libraries and applications in small to large scale industries are sure to revolutionize the industry the next two decades and the impact is getting felt in almost all the countries worldwide.

To dive deep into the growth of AI and future trends, an insight into the type and size of the market is essential along with (a) AI-related industry market research forecasts and (b) data from reputable research sources for insight into AI valuation and forecasting.

The blog is structured as follows :

  • To provide a short consensus on well-researched projections of AI’s growth and market value in the coming decade.
  • To understand the per capita income and GDP of each country from businesses driven by AI and analytics.

Impact of AI is so widespread, touching and vivid that:

IBM’s CEO claims a potential $2 trillion dollar market for “cognitive computing”).

Google co-founder Larry Page states that “Artificial intelligence would be the ultimate version of Google. The ultimate search engine is capable of understanding everything on the web. It will become so much AI driven that in near future ,it would understand exactly what you wanted and it would give you the right thing. We’re nowhere near doing that now. However, we can get incrementally closer to that, and that is basically what we’re working on”.

Different sectors exhibit dynamics in terms of adopting and absorbing AI, leading to different levels of economic impact.

Source

On comparing different industry-sectors we see from the figure above:

In high-tech industries like Telecom and media has already adopted AI relatively rapidly and looking for transformations in all possible avenues. They are then followed by Consumer, Financial Services and Professional Services.

Healthcare and Industrial Sector are adopting AI slowly. Energy and Public Sector are the slowest adaptors to this transition.

Further, the economic impact in the telecom and high-tech sector could be more than double that of healthcare in 2030. If the national average of macroeconomic impact is 100, healthcare might experience 40 percent lower impact (i.e. 60). The fast and rapid adopters like the telecom and high-tech sector are highly influenced by AI and could experience 40 percent higher impact (i.e. 140) than the national average.

Several internal and external factors specific to a country or a state, have been known to affect AI-driven productivity growth, including labor automation, innovation, and new competition. In addition, certain micro factors, such as the pace of adoption of AI, and macro factors such as a country’s global connectedness and labor-market structure also plays a certain factor to the size of the impact.

The end result is to grow the AI value chain and boost the ICT sector, making an important economic contribution to an economy.

Production channels: Direct economic impact of AI aims to automate production and save cost. It primarily considers three production dimensions. Firstly it includes calling labor and capital “augmentation”, where new AI capacity is developed, deployed, and operated by new engineers and big data analysts. Second, investment in AI technologies saves labor as machines take over tasks that humans currently perform. Thirdly, better AI-driven innovation saves overall cost (including infrastructure), enabling firms to produce the same output with the same or lower inputs.

Augmentation: Relates to increased use of productive AI-driven labor and capital.

Substitution: AI-driven technologies offer better results in the field like automation, where it has been found to be more cost-effective. It has also discovered ways and means to substitute other factors of production. Advanced economies could gain about 10 to 15 percent of the impact from labor substitution, compared with an impact of 5 to 10 percent in developing economies.

Product and service innovation and extension: Motivation for investment in AI beyond labor substitution can produce additional economic output by expanding firms’ portfolios, increasing channels for products and services (for e.g. AI-based recommendations), developing new business models, or combination of the three.

Externality channels: It serves as one of the external channels where the application of AI tools and techniques can contribute to economic global flows (for e.g. chatbots, news aggregation engines). Such flow happens inter-country (states and geographical boundaries) and even between countries that facilitate more efficient cross-border commerce. It is found that countries that are more connected and participate more in global flows would clearly benefit more from AI. Further AI could boost supply chain efficiency, reduce complexities associated with global contracts, classification, and trade compliance.

Wealth creation and reinvestment: AI is contributing to higher productivity of economies, efficiency gains. Further innovations result in an increase in wages for workers, entrepreneurs, and firms in the form of profits, higher consumption, and more productive investment.

Transition and implementation costs: Several costs incurred while executing the transition to AI like organization restructuring costs, adoption to new solutions, integration costs, and associated project and consulting fees are known to affect the transition in a negative way. Businesses should do a trade-off between cost and benefit analysis and correctly strategize their roadmap.

Negative externalities: AI could induce major negative distributional externalities affecting workers by depressing the labor share of income and potential economic growth.

The following figure illustrates the detailed overall economic impact sustained due to the wider adoption of AI techniques and strategies by businesses.

Source

AI-driven businesses have led to a positive impact on the growth of revenue over consecutive years. More so, the statements made by renowned founders, CEOs, entrepreneurs and visionary leaders is evident from the figure below as it shows the impact of AI on global GDP, the maximum being obtained from venture-backed startups.

Source: https://emerj.com/ai-sector-overviews/valuing-the-artificial-intelligence-market-graphs-and-predictions/

“Tractica forecasts that the revenue generated from the direct and indirect application of AI software is estimated to grow from $643.7 million in 2016 to $36.8 billion by 2025. This represents a significant growth curve for the 9-year period with a compound annual growth rate (CAGR) of 56.8%.”

Tractica has taken a conservative adoption of AI in the hedge fund and investment community, with an assumption that roughly 50% of the hedge fund assets traded by 2025 will be AI-driven. Under this estimate, the algorithmic trading use case remains the top use case among the 191 use cases identified by Tractica.

Further as per reports from Tractica, the market for enterprise AI systems will increase from $202.5 million in 2015 to $11.1 billion by 2024, as depicted in the following figure.

View of Worldwide growth of AI revenue, Source — Tractica

The growth forecasts over the next decade clearly show China’s dominance over the AI market yielding a significant increase in GDP, followed by USA, Nothern Europe, and other nations.

In China, AI is projected to give the economy a 26% boost over the next 13 years, measuring an equivalent of an extra $7 trillion in GDP, helping China to rise to the top. As North America’s companies are widely using AI, the adaptation is at an accelerating phase that it can expect a 14.5% increase in GDP, worth $3.7 trillion.

As the GDP growth varies across continents and nations, the level of AI absorption also varies significantly between the country groups with the most and the least absorption. The below figure demonstrates statistics of economies with higher readiness to benefit from AI. Such countries achieve absorption levels about 11 percentage points higher than those of slow adopters by 2023, and this gap looks set to widen to about 23 percentage points by 2030. This further gives an indication of the digital divide created from AI, between advanced and developing economies.

Source: Mckinsey

The resulting gap in net economic impact between the country groups with the highest economic gains and those with the least is likely to become larger, for e.g. a large gap in economic impact between the leading and the lagging — between Sweden and Zambia. The gap could widen from three percentage points in 2025 to 19 percentage points in 2030 in terms of net GDP impact.

AI is internationally recognized as the main driver of future growth and productivity, innovation, competitiveness and job creation for the 21st century. However, there remain certain technical challenges, that need to be overcome to take it to the next step. The key challenges include

  • Labeled training data
  • Obtaining sufficiently large data sets. 
  • Difficulty explaining results
  • Difficulty generalizingScaling challengesRisk of bias

Apart from the common technical challenges, risks, and barriers faced by organisations implementing AI are evident.

It is now the responsibility of policymakers and business leaders to take measurable actions to address the challenges, support researchers, data scientists, business analysts, and all included in the AI ecosystem to drive the economy with huge momentum.

As rightly quoted by Stephen Hawking, Famous Theoretical Physicist, Cosmologist, and Author:

“Success in creating AI would be the biggest event in human history. Unfortunately, it might also be the last, unless we learn how to avoid the risks.”

References

  1. Valuing the Artificial Intelligence Market, Graphs and Predictions: https://emerj.com/ai-sector-overviews/valuing-the-artificial-intelligence-market-graphs-and-predictions/
  2. NOTES FROM
    THE AI FRONTIERMODELING THE IMPACT OF AI ON THE WORLD ECONOMY: 
    https://www.itu.int/dms_pub/itu-s/opb/gen/S-GEN-ISSUEPAPER-2018-1-PDF-E.pdf
  3. USA-China-EU plans for AI: where do we stand: https://ec.europa.eu/growth/tools-databases/dem/monitor/sites/default/files/DTM_AI%20USA-China-EU%20plans%20for%20AI%20v5.pdf
  4. https://hbr.org/insight-center/interacting-with-ai
  5. https://sloanreview.mit.edu/projects/reshaping-business-with-artificial-intelligence/

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