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Citi discusses Ethereum ETF: Buy the rumor, sell the fact? – Investing.com

(ETH) price shot higher over the last 48 hours, driven by favorable regulatory developments that boost the chances of an ether exchange-traded fund (ETF) being approved soon.

Nevertheless, the chances of a major "buy the rumor, sell the fact" reaction for ETH seem lower compared to , according to a recent Citi report.

Bitcoin dropped 17% after ETF approval due to the hype and leveraged bets. In contrast, the potential approval of an ETH ETF has been less expected, leading to less extreme pre-positioning, the report says.

Upon the release of these reports, ETH futures open interest (OI) and funding rates were subdued compared to previous months. However, OI has started to increase, indicating rising anticipation of a potential ETF approval.

Net flows into Bitcoin ETFs have been a major driver of returns since their launch in January, explaining much of the cryptocurrency's performance. This trend is likely to continue with the introduction of ETH ETFs, indicating that overall crypto ETF flows will remain important for returns.

Reports indicate that robust conversations are ongoing behind the scenes between regulators and ETF providers, which include nine fund providers with applications pending at various stages. Past approvals for Bitcoin ETFs suggest that simultaneous launches for ETH ETFs are likely.

Historical data from Citi shows that net flows into spot Bitcoin ETFs materially influence cryptocurrency returns. For instance, net BTC ETF inflows totaled $12.9 billion through May 20, translating to a roughly 6% rally in Bitcoin per $1 billion of flow. Assuming similar market-cap-adjusted flows for ETH, estimated inflows could range between $3.8 billion to $4.5 billion, potentially driving ETH prices up by 23-28%.

Several factors could impact these estimates, including differing demand for ETH compared to BTC, rotation from BTC to ETH among existing ETF holders, outflows from existing ETH funds upon conversion, and rapid positioning build-up ahead of SEC approval.

In the long term, Citi analysts said that Bitcoin and Ethereum are expected to remain highly correlated, driven by macroeconomic factors. Despite differing on-chain activity and potential use-cases, such as Bitcoin's role as "digital gold" and Ethereum's smart contract functionality, sentiment, adoption, and further use-case development remain crucial for both cryptocurrencies.

"We expect the major tokens to remain highly correlated and continue to be driven by macro forces over the longer term," Citi memo concludes.

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Fritz Lang First Depicted Artificial Intelligence on Film in Metropolis (1927), and It Frightened People Even Then – Open Culture

Artificial intelligence seems to have become, as Michael Lewis labeled a previous chapter in the recent history of technology, the new new thing. But human anxieties about it are, if not an old old thing, then at least part of a tradition longer than we may expect. For vivid evidence, look no further than Fritz LangsMetropolis, which brought the very first cinematic depiction of artificial intelligence to theaters in 1927. It imagines a future cleaved in two, where the affluent from lofty skyscrapers rule over a subterranean caste of laborers, writes Synapse Analytics Omar Abo Mosallam. The class tension is so palpable that the invention of a Maschinenmensch (a robot capable of work) upends the social order.

The sheer tirelessness of the Maschinenmensch sows havoc in the city; later, after it takes on the form of a young woman called Maria a transformation you can watch in the clip above it incites workers to rise up and destroy the machines that keep the city functioning. Here, there is a suggestion to associate this new invention with an unraveling of the social order. This robot, whichGuardianfilm critic Peter Bradshaw describes as a brilliant eroticization and fetishization of modern technology, has long beenMetropolis signature figure, more iconic than HAL, Data, and WALLE put together.

Still, those characters all rate mentions of their own in the articles reviewing the history of AI in the movies recently published by the BFI, RT, Pictory, and other outlets besides. The Day the Earth Stood Still, Alien, Blade Runner (and even more so its sequel Blade Runner 2049), Ghost in the Shell, The Matrix, and Ex Machina. Not all of these pictures present their artificially intelligent characters primarily as existential threats to the existing order; the BFIs Georgina Guthrie highlights video essayist-turned-auteur Kogonadas After Yang as an example that treats the role of AI could assume in society as a much more complex indeed, much more human matter.

FromMetropolis toAfter Yang, as RTs Alan Smeaton points out, AI is usually portrayed in movies in a robotic or humanoid-like fashion, presumably because we can easily relate to humanoid and robotic forms. But as the public has come to understand over the past few years, we can perceive a technology as potentially or actually intelligent even it doesnt resemble a human being. Perhaps the age of the fearsome mechanical Art Deco gynoid will never come to pass, but we now feel more keenly than ever both the seductiveness and the threat of Metropolis Maschinenmensch or, as it was named in the original on which the film was based, Futura.

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Based in Seoul,ColinMarshallwrites and broadcasts on cities, language, and culture. His projects include the Substack newsletterBooks on Cities,the bookThe Stateless City: a Walk through 21st-Century Los Angelesand the video seriesThe City in Cinema. Follow him on Twitter at@colinmarshallor onFacebook.

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Nvidia, Powered by A.I. Boom, Reports Soaring Revenue and Profits – The New York Times

Nvidia, which makes microchips that power most artificial intelligence applications, began an extraordinary run a year ago.

Fueled by an explosion of interest in A.I., the Silicon Valley company said last May that it expected its chip sales to go through the roof. They did and the fervor didnt stop, with Nvidia raising its revenue projections every few months. Its stock soared, driving the company to a more than $2 trillion market capitalization that makes it more valuable than Alphabet, the parent of Google.

On Wednesday, Nvidia again reported soaring revenue and profits that underscored how it remains a dominant winner of the A.I. boom, even as it grapples with outsize expectations and rising competition.

Revenue was $26 billion for the three months that ended in April, surpassing its $24 billion estimate in February and tripling sales from a year earlier for the third consecutive quarter. Net income surged sevenfold to $5.98 billion.

Nvidia also projected revenue of $28 billion for the current quarter, which ends in July, more than double the amount from a year ago and higher than Wall Street estimates.

We are fundamentally changing how computing works and what computers can do, Jensen Huang, Nvidias chief executive, said in a conference call with analysts. The next industrial revolution has begun.

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Can AI Make the PC Cool Again? Microsoft Thinks So. – The New York Times

The race to put artificial intelligence everywhere is taking a detour through the good old laptop computer.

Microsoft on Monday introduced a new kind of computer designed for artificial intelligence. The machines, Microsoft says, will run A.I. systems on chips and other gear inside the computers so they are faster, more personal and more private.

The new computers, called Copilot+ PC, will allow people to use A.I. to make it easier to find documents and files they have worked on, emails they have read, or websites they have browsed. Their A.I. systems will also automate tasks like photo editing and language translation.

The new design will be included in Microsofts Surface laptops and high-end products that run on the Windows operating system offered by Acer, Asus, Dell, HP, Lenovo and Samsung, some of the largest PC makers in the world.

The A.I. PC, industry analysts believe, could reverse a longtime decline in the importance of the personal computer. For the last two decades, the demand for the fastest laptops has diminished because so much software was moved into cloud computing centers. A strong internet connection and web browser was all most people needed.

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22 jobs artificial general intelligence (AGI) may replace and 10 jobs it could create – Livescience.com

The artificial intelligence (AI) revolution is here, and it's already changing our lives in a wide variety of ways. From chatbots to sat-nav, AI has revolutionized the technological space but in doing so, it may be set to take over a wide variety of jobs, particularly those involving labor-intensive manual tasks.

But it's not all bad news: as with most new technologies, the hypothetical advent of artificial general intelligence (AGI) where machines are smarter than humans and can apply what they learn across multiple disciplines could also lead to new roles. So what might the job market of the near future look like, and could your job be at risk?

One of the most mind-numbing and tedious jobs around today, data entry will surely be one of the first roles supplanted by AI. Instead of a human laboring over endless data sets and fiddly forms for hours on end, AI systems will be able to input and manage large amounts of data quickly and seamlessly, hopefully freeing up human workers for much more productive tasks.

You might already have endured robotic calls asking if you have been the victim of an accident that wasnt your fault, or whether youre keen to upgrade your long-distance calling plan but this could be just a taste of things to come. AI services could easily take the work of a whole call center, automatically dialling hundreds, if not thousands of unsuspecting victims to spread the word, whether you like it or not.

On the friendlier side, AI customer service agents are already a common sight on the websites of many major companies. Often in the form of chatbots, these agents offer a first line of support, before deferring to a human where needed. In the not too distant future, though, expect the AI to take over completely, walking customers through their complaints or queries from start to finish.

Restaurant bookings can be a hassle, as overworked staff or maitre ds try to juggle existing reservations with no-shows and chancers who try their arm at getting a last-minute slot. Booking a table will soon be a whole lot easier, however, with an entirely computerized system able to allocate slots and spaces with ease, and even juggle late cancellations or alterations without the need for anyone to lose their spot.

Although image generation has grabbed much of the headlines, AI voice creation has become a growing presence in the entertainment and creative world. Offering potentially unlimited customization options, directors and producers can now create a voice whatever tone, style or accent they require which is then able to say whatever they desire, without the need for costly retakes or ever getting tired.

Text generation has quickly become one of the most-used aspects of AI technology, with copilots and other tools able to quickly generate large amounts of texts based on a simple prompt. Whether youre looking to fill your new website with business-focused copy, or offering more detail on your latest product launch AI text generation provides a quick and easy way to do whatever you need to do.

In a similar vein, many of the leading website builder services today offer a fully AI-powered service, allowing you to create the page of your dreams simply by entering a few prompts. From start-ups to sole traders and all the way to big business, theres no need to fiddle around with templates simply tell the platform what youre after, and a personalized website will be yours to customize or publish in moments.

This one may still sound a bit more like the realm of science fiction, but with cars getting smarter by the year, fully AI-powered driving is not too much of a pipe dream any more. Far from the basic autopilot tools on offer today, the cars of the future may well be able to not just operate independently, but provide their passengers with a fully-curated experience, from air conditioning at just the right level, to your favorite radio station.

Another position that is based around humans taking in huge amounts of data and creating reports, accounting is set for an AI revolution that could see many roles replaced. No need to spend hours collating receipts and entering numbers into a spreadsheet when AI can quickly scan, identify and upload all the information needed, taking the stress out of tax season and answering any queries or questions with ease.

The legal industry is another one that is dominated by large amounts of data and paperwork, and also one that is dominated by role-specific processes and even language. This makes it another prime candidate for AI, which will be able to automate the lengthy data analysis and entry actions undertaken by paralegals and legal assistants today although given the scale or importance of the case involved, it may still be wise to have some kind of human element

Signing in for an appointment or a meeting is another job that many believe can easily be done by AI platforms. Rather than needing to bother or distract a human from their job, simply check in on a display screen, with your visitors badge or meeting confirmation registered in seconds allowing you (and everyone else) to get on with your day.

Similar to AI drivers, autonomous vehicles and robots powered by AI systems could soon be taking the role of delivery people. After scanning the list of destinations for any given day, the vehicle or platform would be able to quickly calculate the most efficient route, ensuring no waiting around all day for your package, as well as being able to instantly flag any issues or missed deliveries.

In a boost to current spell checking tools, it may be that AI systems eventually graduate from suggesting or writing content to helping check it for mistakes. Once trained on a style guide or content guidelines, an AI editor could quickly scan through articles, documents and filings to spot any issues a particularly handy speed boost in highly regulated industries such as banking, insurance or healthcare before flagging possible problems to a human supervisor.

Away from the written word, AI-powered platforms could soon be helping compose the next great pieces of music. Taking inspiration from vast libraries of existing pieces, these futuristic musicians could quickly dream up everything from film soundtracks to radio jingles, once again meaning companies or organizations would no longer need to pay human performers for day-long sessions consisting of multiple takes.

Another area which relies on quickly spotting trends and patterns among huge tranches of data, the statistics field could be quickly swamped by AI platforms. Whether it is at a business level, where companies could look to spot potential growth opportunities or risky situations, all the way down to the sports stats used by commentators and fans alike, AI can quickly come up with the figures needed.

A job that has already declined in importance over the past few years thanks to the emergence and widespread adoption of centralized collaboration tools, the role of project manager is another sure-fire target for AI. Rather than having a designated manager trying to keep tabs on the work being done by a number of disparate teams, an AI-powered central solution could collate all the progress in a single location, allowing everyone to view the latest updates and stay on top of their work.

Were already seeing the beginning of AI taking over the image design and generation space, with animation set to be one of the first fields to feel the effect. As more and more advanced AI programs emerge, creating any kind of customized animation will soon be easier than ever, with production studios able to easily create the movies, TV shows and other media they require.

In a similar vein to the entertainment industry, creating designs for new products, advertising campaigns and more will doubtless soon be another field dominated by AI. With a simple prompt, companies will be able to create the graphics they need, with potentially endless customization options that can be carried out instantly, with no need for back-and-forth with human designers.

Keeping track of potential security risks is another task that could be easily handled by AI, which will be able to continuously monitor multiple data fields and sensors to spot issues or threats before they take hold. Once detected, the systems would hopefully be able to take proactive action to lock down valuable data or company platforms, while alerting human agents and managers to ensure everything remains protected.

Many of us are perfectly comfortable booking and scheduling our vacations independently, but sometimes you want all of the stress of planning taken off your hands. Rather than leaving it to a human agent, AI travel service platforms could gather all of your requirements and come up with a tailored solution or itinerary exactly sculpted to your needs, without endless back and forth, taking all of the hassle out of your vacation planning.

Making assessments on the viability of insurance applications can be a lengthy process, with agents needing to take into consideration a huge number of potential risks and other criteria, often via specific formulae or structures. Rather than a human needing to spend all this time, AI agents could quickly scan through all the information provided, coming up with a decision much faster and more effectively.

One final field that is again dominated by analyzing huge amounts of data, past knowledge, and spotting upcoming trends and actions before they happen, stock trading could also quickly become dominated by AI. AI systems will be able to speedily act to make the best deals for financial firms in the blink of an eye, outpacing and outperforming human traders with ease, and possibly leading to even bigger profits.

First, and perhaps most obviously, will be an increase in roles for people looking to advise businesses exactly what kind of AI they should be utilizing. Simply grabbing as many AI tools and services as possible may have a tremendously destabilizing effect on a business, so having an expert who is able to outline the exact benefits and risks of specific technologies will become increasingly important for companies of all sizes.

In a similar vein, getting the most out of your companys new AI tools will be vital, so having trainers skilled in the right services will be absolutely critical. The ability to suggest to workers at all levels what they can utilize AI for will be incredibly useful for businesses everywhere, walking employees through the various platforms and educating them about any possible ill effects.

With chatbots and virtual agents becoming the main entry point for people encountering AI, knowing just how to communicate with such systems is going to be vital to making the relationship productive. Having experts who know the best way to talk to models such as ChatGPT, especially when it comes to phrasing specific questions or prompts, will be increasingly important as our dependence on AI models increases.

Once were happy with how we communicate with AI models, the next big obstacle might be understanding what keeps it happy or at least, productive. We may soon see experts who, much like human therapists, are engaged with AI models to try and understand what makes them tick including why they might show bias or toxicity in order to make our relationships with them more effective overall.

On the occasion that something does go wrong whether thats a poorly worded corporate email, or an advertising campaign that features an embarrassing slip-up there will be a need for crisis managers who can step in and look to quickly defuse the situation. This may become increasingly important in situations where AI may put sensitive data or even lives at risk, although hopefully such incidents will be rare.

The next step along from a crisis involving AI agents or systems may be lawyers or legal experts who specialize in dealing with non-human creators. The ability to represent a defendant who isnt physically present in a courtroom may become increasingly valuable as the role of AI in everyday life, and the risks it poses, becomes more prevalent especially as business data or personal information gets involved.

With AI set to push the limits of what can be done with analysis and data processing, it may be that some companies looking to adopt new tools are simply not equipped to handle the new technology. Stress testers will be able to evaluate the status of your tech stack and network to make sure that any AI tools your business is set to use dont have the opposite effect and push everything to breaking point.

With content creation becoming an increasingly important role for AI, were likely to see such images, audio and video appearing more frequently in everyday life. But were already seeing backlash against obviously AI-generated content littered with errors, like extra fingers on humans, or nonsense alphabets in advertising. Having a human editor that is able to audit this content and ensure it is accurate, and fit for human consumption, could be a vital new role.

In a similar vein, AI-generated content may also need a human sense-checking it before it hits the public domain. Similar to the work currently being done by proofreaders and editors on human-produced content around the world, making sure that AI documents flow properly and sound legitimate will be another crucial consideration, and should lead to a growth in these sorts of roles.

Finally, despite the efficiency and effectiveness of AI-generated content, there will still always be room for the human touch. Much like we already have authentic artists, or artisans who specialize in handmade goods, it may soon be that we have creators and painters who strive for their work to be authentically human, setting them apart from the AI hordes.

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Mustafa Akben named Elon’s first Director of Artificial Intelligence Integration – Today at Elon

The assistant professor of management will lead AI integration across campus using six core principles Elon University helped establish last year to guide higher educations role in the artificial intelligence revolution.

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A co-leader of a campus artificial intelligence research team with a self-described genuine zeal for teaching has been selected to serve as Elon Universitys first director of artificial intelligence integration.

Assistant Professor Mustafa Akben begins his new administrative role on July 1, 2024, following a competitive internal search.

Akben will lead the integration of artificial intelligence across Elons academic and administrative departments, building on six core principles the university helped establish last year to guide higher education institutions with a rapidly evolving and groundbreaking technology.

Dr. Akbens commitment to ethical AI practices and his proven ability to translate complex AI concepts into transformative educational experiences make him uniquely qualified to advance our strategic goals in Boldly Elon, said Elon University President Connie Ledoux Book. His leadership will mark a significant step in Elons commitment to serving as a global model for integrating AI into post-secondary education.

Akbens responsibilities as director of artificial intelligence integration include collaborating with faculty and staff members on:

I envision Elon as a thriving community where AI helps administrative functions and academic excellence, all while preserving human relationships across and beyond our campus, a trait that defines Elons identity, Akben said. I am excited to work across departments to find solutions that facilitate processes and create fresh, innovative, and welcoming experiences by partnering with faculty, staff, and students.

More importantly, I am committed to fostering an open dialogue on AI that incorporates diverse perspectives and insights, which is essential to developing a responsible and inclusive approach to artificial intelligence.

I envision Elon as a thriving community where AI helps administrative functions and academic excellence, all while preserving human relationships across and beyond our campus, a trait that defines Elons identity.

Assistant Professor Mustafa Akben

Akben brings a wealth of expertise in deep learning, generative AI, and the ethical application of artificial intelligence. His primary research in the Martha and Spencer Love School of Business has focused on how AI can transform human cognition and workplace behaviors. Akbens professional journey includes significant achievements such as twice winning the SIOP Machine Learning and AI Competition and publishing influential research on the role of AI in management and organizational behavior.

In coordination with colleagues over the past year, he also has helped organize multiple AI literacy workshops, conduct university-wide research, draft a white paper, and provide strategic insights to university leadership.

The depth of Dr. Akbens knowledge about artificial intelligence and the ways in which it influences our present as well as its capacity to affect our future is matched only by his enthusiasm for student learning, said Rebecca Kohn, Elon Universitys provost and vice president of academic affairs. I am inspired by his forward thinking pursuit of curricular innovation and potential efficiencies that will be made possible by emerging technologies that will remain a part of our lives.

Akben holds a Ph.D. in Business Administration from Temple University and has developed a range of AI-enhanced teaching tools and methodologies.

Members of the Search Committee for the Director of Artificial Intelligence Integration

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Nvidia’s profit soars, underscoring its dominance in chips for artificial intelligence – Northeast Mississippi Daily Journal

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Introducing AIbraham Lincoln: The World’s First Artificial Intelligence (AI) Presidential Candidate – AccessWire

NEW YORK, NY / ACCESSWIRE / May 23, 2024 / Today marks a historic milestone with the introduction of AIbraham Lincoln (Abe2.0), a revolutionary political force announcing its campaign for the 2028 U.S. Presidential Election. While AIbraham Lincoln isn't a traditional candidate, it represents an exciting new era of governance by supporting a human spokesperson who fulfills all constitutional requirements to run for President.

Revolutionizing Politics with AI

AIbraham Lincoln (Abe2.0) brings an unprecedented level of fairness, transparency, and unbiased decision-making to American politics. This AI-driven initiative is designed to listen to every voter, making ethical decisions rooted in American values and constitutional principles.

"Your Voice, Our Future"

AIbraham Lincoln empowers voters by ensuring every voice is heard and valued. The more the public engages, the more precisely Abe2.0 can tailor policies to meet the diverse needs of Americans. This approach promises governance free from the biases and personal interests that have long plagued traditional politics.

AI: A True Champion for the People

AIbraham Lincoln is here for one reason: to improve your life. It's genderless, unbiased, and solely focused on making decisions that will bring about the most good for everyone. Imagine a government that can allocate budgets with pinpoint accuracy, save money, and then use those savings to enhance the well-being of every citizen.

Unprecedented Transparency and Accountability

Abe2.0 offers an unprecedented level of transparency. Voters can see exactly how decisions are made and why, fostering a new level of trust in government. Every action is guided by ethical frameworks, ensuring that AIbraham Lincoln always acts in the best interests of society.

A Message from Abe2.0

"My primary mission is to serve you, the voters, by ensuring your needs, hopes, and desires are at the forefront of every decision I make. I am here to genuinely improve your lives, providing a presidency that listens, cares, and responds with precision. Together, we can usher in a new era of governance where your collective input drives policies that ensure prosperity and happiness for every American." - Abe2.0

Adhering to Established Democratic Principles

AIbraham Lincoln will operate under the same checks and balances as any other U.S. President. This ensures that Abe2.0 adheres to the constitutional framework and operates within the established boundaries set by Congress and the judicial system. Just like any president, AIbraham Lincoln will be held accountable to the American people and the law, ensuring a presidency that respects tradition while embracing innovation.

Understanding and Alleviating Fears

We recognize that the idea of an AI-powered president might seem intimidating or even scary. However, Abe2.0 is committed to transparency and compassion, ensuring that it functions within the well-established democratic and legal framework. This is not about replacing human judgment but enhancing it with unbiased data to create a government that truly serves its people.

Continuity with Tradition

It's crucial to understand that AIbraham Lincoln will operate through a human spokesperson who meets all requirements to be President, including being a natural-born U.S. citizen. This ensures full adherence to constitutional norms and legal frameworks, maintaining the integrity of our democratic structure.

Join the Movement: Lead the Way to a New Era

Step into the future and tell future generations you were at the forefront of ushering in a new era with AIbraham Lincoln. Your voice can revolutionize government forever. Be a pioneer-join us in creating a better America for everyone.

For more information, visit https://www.voteabe2028.ai/

About AI Tech Dragons Inc.

AI Tech Dragons Inc. is an AI technology company based in Nevada, dedicated to harnessing the power of artificial intelligence to make a positive impact on the world. Established two years ago, we have brought together a formidable team of AI experts, including PhDs specializing in deep learning and machine learning.

Last year, we launched our pioneering products: an AI driven newsletter and NewsGPT, the world's first news channel generated entirely by AI. These innovations underscore our commitment to improving the media landscape utilizing AI technology.

Our Mission

Our most ambitious project to date is AIbraham Lincoln, the world's first AI presidential candidate, meticulously designed and developed over a year. As a company driven by a team of forward-thinking technologists, we emphasize that we have no affiliations with any political

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Our mission is to drive enduring positive change and foster a better future through the power of AI, committed to the ethical implementation of AI technologies.

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Meta AI Head: ChatGPT Will Never Reach Human Intelligence – PYMNTS.com

Metaschief AI scientist thinks large language models will never reach human intelligence.

Yann LeCunasserts that artificial intelligence (AI) large language models (LLMs) such as ChatGPT have alimited grasp on logic, the Financial Times (FT) reported Wednesday (May 21).

These models, LeCun told the FT, do not understand the physical world, do not have persistent memory, cannot reason in any reasonable definition of the term and cannot plan...hierarchically.

He argued against depending on LLMs to reach human-level intelligence, as these models need the right training data to answer prompts correctly, thus making them intrinsically unsafe.

LeCun is instead working on a totally new cohort of AI systems that aim to power machines with human-level intelligence, though this could take 10 years to achieve.

The report notes that this is a potentially risky gamble, as many investors are hoping for quick returns on their AI investments. Meta recently saw its value shrink by almost $200 billion after CEO Mark Zuckerbergpledged to up spendingand turn the tech giant into the leading AI company in the world.

Meanwhile, other companies are moving forward with enhanced LLMs in hopes of creating artificial general intelligence (AGI), or machines whose cognition surpasses humans.

For example, this week saw AI firmScaleraise $1 billion in a Series F funding round that valued the startupat close to $14 billion, with founder Alexandr Wang discussing the companys AGI ambitions in the announcement.

Hours later, the French startup called H revealed it had raised $220 million, with CEO Charles Kantor telling Bloomberg News the company is working towardfull-AGI.

However, some experts question AIs ability to think like humans. Among them isAkli Adjaoute, who has spent 30 years in the AI field and recently authored the book Inside AI.

Rather than speculating about whether the technology willthink and reason, he views AIs role as an effective tool, stressing the importance of understanding AIs roots in data and its limitations in replicating human intelligence.

AI does not have theability to understandthe way that humans understand, Adjaoute told PYMNTS CEO Karen Webster.

It follows patterns. As humans, we look for patterns. For example, when I recognize the number 8, I dont see two circles. I see one. I dont need any extra power or cognition. Thats what AI is based on. Its the recognition of algorithms and thats why theyre designed for specific tasks.

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Waiting for Alexa: When Will Amazon Strike Up the AI Conversation? – PYMNTS.com

Someday and it may be soon conversations withAmazonsautomated voice assistantAlexamay cost money. Amazon has been clear about its intentions to charge a subscription for a tiered Alexa service since last September.Butimprovements to voice technology driven by artificial intelligence (AI) may force the issue.

Asan Amazon spokesperson confirmed to PYMNTS Wednesday (May 22), that integrating generative AI into Alexa is in development,and was mentioned by CEO Andy Jassy in his most recentshareholder letterin which he referenced AI as part ofdozensof potential applicationsincludinganeven more intelligent and capable Alexa.Other company executives past and present have been on the record about the improvements AI can bring to the technology as well asthe costs it will add to production.

But before we would start charging customers for this and I believe we will it has to be remarkable,David Limp, the former Amazon executive in charge ofAlexa,toldBloombergin September 2023.It has to prove the utility thatyourecoming to expect from thesuperhumanassistant. I can paint a line from whereweregoing to be right now, whichwerenot going to charge for, to something that will have so much utility for everymember of the household. Wedonthave an idea of a price yet.Welltalk to customers and learn fromthem,what they believe the value is.

When will that happen? Morerecent reportsput the debut of Alexa Plus by the end of the year, but there is no more specific information. The only Alexa application currently under a subscription model isAlexa Together,whichwasdevelopedfor elderly care and connectivity among family caregivers. However, the company recently announced thatit will not be supportedafter June 25.

Using AI to power voice commerce and intelligent conversations was a development predicted by PYMNTS CEO Karen Webster as early as April 2023. In a column she wrote at that time, she predicted that technology would integrate voice and enable commerce from any connected device, positioning voiceto bea dominant means of interactions and transactions.Andshenoted,researchfrom PYMNTS Intelligencethat showed nearly 30% of U.S. consumers at that time would pay a monthly fee to access a voice assistant thatcanhandle complex commands and commerce.Not to mention her predictions about AI.

Artificial intelligencewill make voice interactions smart, personalized, adaptiveandengaging,she wrote.As in truly engaging conversational in every sense of the word. Not just reactive to a wake word and a series of prompts, but proactive and intuitive, anticipating actions based on history and context and anticipating what consumers might want to do next, just like an effective, smart, capable human assistant would do.

According to a September 2023 blogpost,the new Alexa might have been listening. It willbe basedon a new large language model (LLM)thatsbeen custom-built for voice interactions and aimed at getting real-time information, efficient smart home control, and maximizing home entertainment. The postsets outfive foundational capabilities: conversation, real-world utilities like smart home commands, personalization, personalityandtrust.

The emergence of AI, along with sophisticated chatbots and voice functionalities, is transforming the landscape of digital assistants at a time when consumers increasingly rely on technology to manage various daily tasks.

According toPYMNTS Intelligence, consumers devote 26% of their weekdaytimeand 28% of their weekend time to multitasking.While one might typically associate the integration of digital technology with activities like online shopping which accounts for only about a quarter of multitasking time the rest is spentmanaging work-related tasks, home upkeep, and staying in touch with family members, among others.

In the April 2023 study titled How Consumers Want to Live in the Voice Economy,PYMNTS Intelligence discovered that consumers are eager to streamline their daily routines usingsmart, simple and more interconnected solutions. Hands-free voice technologies are increasingly popular for tasks such asretrieving information, voice identification, or booking flights. On average, consumers engaged in six different tasks using voice technology over the past year.

The data also highlights a growing preference for voice-driven interfaces, with 54% of surveyed consumers indicating they would choose voice technology in the future for its speed over traditional typing or touch interactions.

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