After weaker-than-expected U.S. economic data and rising military tensions in the Middle East, gold prices rose to record highs at the end of last week’s trade, hitting a barrier of $2,070 an ounce. Adel Al-Fathli, head of strategic planning at Kuwait Dar Al-Sabah Company, said in a statement to Kuwait News Agency (KUNA) on Sunday that the yellow metal managed to post a profit for the third week in a row. Along with weak US economic data. Al-Fathly said factory activity in the US has seen a continuous contraction for more than two months, along with a slowdown in personal consumption spending and a sub-level decline in the inflation rate in the US market. Gold futures (for delivery next February) rose 1.6 percent to $2,089 an ounce, while the dollar index, which measures the U.S. currency against major currencies, fell 0.35 percent to 103.1 points. Analysts’ pessimistic expectations for growth in US spending and output next year sent investors back to the safe haven (gold), especially as the Federal Reserve (Federal Bank) has aggressive plans to cut interest rates. 25 basis points during the Bank’s regular meeting scheduled for March 2024. He expected gold prices to see a “significant rise” if expectations that the US Federal Reserve cut interest rates by 135 basis points by the end of next year hold true. This will certainly lead to an increase in precious metals in the long run. Al-Fathly said that important reports will be released this week, the first of which is the US labor jobs report, followed by the purchasing managers’ index for services, monetary policy announcements in Australia and Canada, and data on inflation rates in China and South Korea, “all of which are indicators that will determine gold’s trends this week.” .” He said he believed developments in the Middle East region this week would be “stronger” as analysts monitor field developments due to the heavy impact on precious metals prices by military operations and shutdown threats. Some commercial waterways.” As for the local market, the price of a 24-carat gram rose to 20.375 dinars (about $62.2), 22 carat to 18.68 dinars (about $57), silver finished at 297 dinars (about $905), he said. ) per kilogram. ounce. It is worth noting that is one of the units of mass measurement, it is used in various measurement units, it is also called ounce and is equal to 28.349 grams, while the unit of measurement for precious metals is equal to 31.103 grams.
Economy
Regulatory controls are key to a thriving artificial intelligence market
California (USA) – OpenAI, the inventor of the GPT chat system, confirmed that adopting regulatory controls would be useful to reassure the humans who create artificial intelligence and work to make this market thrive.
A year after the launch of the world’s most popular generative artificial intelligence platform in which Microsoft invests, OpenAI president Sam Altman expressed his support for setting the rules for a revolution in the technology, “if we don’t slow down the incredible progress” in the field.
The star of Silicon Valley tech companies took part in a conference with senior executives from Google and Meta on the sidelines of the annual Asia-Pacific Economic Cooperation (APEC) summit in San Francisco this week.
Generative intelligence has become a buzzword this year after apps like GBT Chat captured the public imagination, prompting a rush among Silicon Valley companies like Google and even Chinese giants like Alibaba to release the same products they believe will change the nature of work.
Millions of users have begun testing such tools, which proponents say can make medical diagnoses, write scripts, create legal briefs and debug software.
But at the same time, it will lead to increased concerns about how technology can lead to privacy violations, skewed hiring decisions, fraud and misinformation.
Despite their success, GBT chat and other interfaces capable of generating text, images, and sounds upon simple request have raised serious concerns about the many risks such as widespread misinformation, jobs, and resulting alternative industries.
“We hope these tools will be adopted by creators and help them,” Altman said in an interview with Agence France-Presse about artists angry about Open AI applications.
“Of course, we need to find an economic model that works and let people decide whether to participate in it or not,” he added.
Game of Thrones author George R.R. Artists, programmers and writers, including Martin, filed complaints this year against OpenAI and the California startup’s competitors. ACKNOWLEDGMENT OR INDEMNIFICATION.
In Hollywood, a historic strike by screenwriters and actors that recently ended focused on their fears of using artificial intelligence, particularly in cinematic work.
A recent survey by Bank of America showed that 29 percent of global investors do not expect artificial intelligence to increase profits or jobs. This compares with around 40 per cent who expect a real boost to their business.
And Altman isn’t the only one with enemies. As he left the conference hall, APEC summit participants flocked to take selfies with him as they applauded the businessman. Asked about the uses of artificial intelligence in China, he said he did not know much about how it was being used. “This matter is outside my field of expertise,” he added.
The APEC summit was characterized by competition between the US and China, which are engaged in fierce economic and political competition. Beijing uses artificial intelligence for population surveillance purposes, particularly through facial recognition.
Last April, Chinese officials said artificial intelligence tools would be reviewed to ensure they “reflected basic socialist values and did not contain material related to subverting state authority.”
Regulation of artificial intelligence is also being debated in the European and US parliaments, but with the aim of not using it to discriminate, manipulate or deceive. Altman said his company and other U.S. artificial intelligence companies are calling for new rules that “don’t slow down some of the amazing advances that are happening.”
Technology makes it easy to create hyper-realistic montages with deepfakes and false content, which strengthens disinformation campaigns.
“There are a lot of unknowns, and we don’t yet know what AI can do, especially with video,” Altman admitted during the conference, “but it will happen soon” in an election year, and “we’ll have to monitor it from afar.” “Respond closely as it happens.”
American consulting firm McKinsey says artificial intelligence will add $7.3 trillion in value to the global economy each year, and believes that half of today’s work activities could be automated between 2030 and 2060.
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“GT Georgia Tech”
With the growing number of online accounts and the rise of cyber threats, password security has become an important concern for individuals and organizations. However, a recent study revealed that outdated password practices are still in place, putting millions of people at risk.
A study conducted by a group of cybersecurity experts from around the world analyzed data on 10 million leaked passwords, and the alarming results showed that many people continue to use weak passwords that are easy to guess.
One of the most disturbing findings was the prevalence of common passwords like “123456” and “password”. It is easy for hackers to gain unauthorized access to personal accounts.
Another worrying trend found in the study is the reuse of passwords across multiple accounts. Many people have been found to use the same password for their email, social media and online banking accounts. This practice poses a significant risk because a single account leads to Hacked into Domino Effect, allowing hackers to access multiple accounts.
The study also highlights the importance of regularly updating passwords. A large number of individuals do not change their passwords for years, leaving their accounts vulnerable to attack.
Experts recommend changing passwords at least every three months and using a combination of letters, numbers and special characters to improve security.
The results of this study underscore the urgent need for individuals and organizations to adopt strong password practices.
Educating users about the importance of using unique and complex passwords and updating them regularly is essential to reduce the risks of cyber attacks.
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Books – Islam Saeed
Sunday, December 3, 2023 at 03:00 AM
Central banks around the world continue to demand… Gold In 2023, gold trends for the third quarter of the current year 2023 as per the reports of the World Gold Council show that the demand for gold by banks has increased.
Central banks added 337 tonnes in the third quarter of 2023
The third largest buying level in the quarter reached by central banks
In the third quarter of 2022, banks bought a large amount of 459 tonnes of gold..
Since the beginning of 2023, demand by central banks has increased by more than 14%.
Total bank purchases of gold since the beginning of 2023 have reached a record high of 800 tonnes of gold.
Gold reserves reported by global central banks rose by a net 77 tonnes in September.
Central bank’s gold sale is only 1 ton.
– Fund outflows from gold investment funds continued in October, $2 billion
Since the beginning of the year, the funds’ investments have fallen 6%.
– Total cash outflows from gold-backed global investment funds have hit $13 billion since the start of the year
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