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TrustSwap’s Team.Finance Continues to Be the Industry Leader in Cryptocurrency Token Locks and Management – Business Wire

LOS ANGELES--(BUSINESS WIRE)--The team at TrustSwap recently released a detailed comparison of its Team.Finance tool and that of Unicrypt, which offers similar services.

Team.Finance is a DeFi tool that provides liquidity locking and team vesting services for token founders and the crypto community. The product was launched by TrustSwap a year ago and the dollar value locked has grown substantially since then.

Team.Finance provides investors with assurance that DeFi project teams will not dump their tokens on the market, causing their new cryptocurrency to crash. With Team.Finance, DeFi project founders, and teams can reassure investors that their project is legitimate and not a scam, helping them to build trust with their new community.

Projects that choose not to use a token locking system risk losing out on investors who may be wary of rug pulls and other common scams in the crypto space.

Team.Finance will soon provide DeFi projects with a security score, providing them with a quantifiable way to advertise their level of security to potential investors.

More than 21,000 DeFi projects have locked a staggering total value of $6.5 billion+ in crypto with Team.Finances services.

TrustSwaps overall goal is to create a secure DeFi ecosystem for all stakeholders with minimal risk of hacks and network attacks. Team.Finance is a security-focused ecosystem that includes liquidity locking, token locking, and token generation services.

The comparison between Team.Finance and Unicrypt uses the following criteria: volume of locked value, service fees, and the number of blockchains supported.

Total Value Locked

As was mentioned above, total value locked for Team.Finance is $6.5 billion+ from 21,000+ DeFi projects. In comparison, Unicrypt has a total value locked of $500 million+ from 14,000+ DeFi projects.

Service Fees

For Token Locks and Liquidity Locks through Team.Finance TrustSwap charges a flat fee of $75. Token generation doesnt require a fee, but 0.4% of the supply goes back to the community through farming pools, and 0.1% goes to the TrustSwap Dev Fund.

For Token Locks, Unicrypt charges $15,000 in contract whitelisting and 0.35% of the locked tokens. For Liquidity Locks, they charge 1% of locked LP tokens and a separate fee for each blockchain. Unicrypt also charges 0.3% of the minted token supply and a separate fee for each blockchain for token generation.

TrustSwap is more cost-effective for DeFi projects which explains why our total value locked is significantly more than our competitors.

Blockchains Supported

For Token Locks, Liquidity Locks, and Token Generation, Unicrypt only supports three blockchains; Ethereum, Polygon and Binance Smart Chain.

For Token Locks and Liquidity Locks, TrustSwaps Team.Finance supports Ethereum, Binance Smart Chain, plus seven other popular blockchains; Avalanche, Conflux, Polygon, PulseChain, Cronos, Heco, and Velas.

For Token Generation, in addition to Ethereum and Binance Smart Chain, TrustSwaps Team.Finance also supports Polygon.

In conclusion, pound for pound, its clear to see that TrustSwaps Team.Finance is the market leader, with billions more in value locked than our competition. With lower, more straightforward service fees and more blockchains supported, Team.Finance leads the industry in total value provided to DeFi projects.

About TrustSwap

TrustSwap is a company that provides blockchain-related, multi-chain DeFi tools & services to both corporate and retail customers. The company builds user-friendly, affordable, Blockchain-related tools, dapps, and services that ensure the security and integrity of cryptocurrencies for Crypto newcomers and consumers, large or small.

Our products and services provide solutions to problems related to token & liquidity locking, token minting, escrow, and vesting. In addition, we also offer solutions for cryptocurrency asset distribution, staking and tracking, NFT services, and fundraising.

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Digital currency: Is cryptocurrency the next big thing? – The New Times

Cryptocurrency, best known as bitcoin, has been making the buzz in the media recently. Even though only a few people are familiar with it, it could be the next big thing in the near future.

According to Nigel Green, CEO and founder of one of the biggest independent financial advisory, asset management, and fintech organisations, deVere Group, Tanzania, and Paraguay or Mexico are to adopt Bitcoin as a legal tender before 2022 ends.

This comes after the Central African Republic (CAR) became the first African country to embrace Bitcoin as its official currency, trailing only El Salvador. He asserts that this is only the beginning.

Understanding Cryptocurrency

Cryptocurrency is generally a medium of exchange, like the US dollar, but is digital and uses encryption to control the production of monetary units and to verify the transfer of funds.

Its a digital currency in which transactions are validated and records are kept by a decentralised system leveraging cryptography rather than a centralised authority.

Cryptocurrency is generally a medium of exchange, like the US dollar, but digital. Net photo.

When a sender encrypts/hides a message using a type of key and algorithm, the receiver decrypts it to generate the original message, this is known as cryptography. Cryptography is used to protect the virtual currency against counterfeiting and double-spending.

It is reported to have been invented in 2008 by an unknown person or people using the name Satoshi Nakamoto, and it was first used in 2009. The virtual currency got immensely popular in the years 2016-2020. Block one, a Chinese company is claimed to be the largest private bitcoin owner.

All bitcoin is controlled by private keys whose owners own the bitcoin secured by the key, according to River Financial, a platform to buy, sell, and use bitcoin in the United States. Ownership of bitcoin, even in large quantities, does not confer any control over the Bitcoin network.

According to them, the three wealthiest bitcoin addresses own more than 575,000 BTC, and Microstrategy owns more bitcoin than any other publicly-traded company.

A BTC transaction is a bitcoin transfer from one address to another. The sender must sign the transaction because its validity is solely dependent on them. Pieces of bitcoin, called unspent transaction outputs (UTXOs), are all associated with an address, which is managed by the bitcoins owner rather than accounts.

All bitcoin transactions are released to the memory pool, a smaller database of unconfirmed or pending transactions, and are only considered confirmed when they are added to a block by a miner.

Cryptocurrency mining is a competitive process that uses the proof-of-work method to verify and add new transactions to the blockchain. This is a method in which one party (the prover) solves an arbitrary mathematical puzzle to prove to others (the verifiers) that a certain amount of a specific computational effort has been expended.

As a result, the winner (miner) receives a portion of the money and/or transaction fees.

Why cryptocurrency overlocal currency?

A bitcoin transaction is praised for being faster because once the network confirms the block containing the transaction, it is fully settled and the funds are ready to use in a few minutes, even if the transaction is done over a considerable distance.

Bitcoin transactions are also cheaper, and anyone with a computer or smartphone and an internet connection can access it. Setting up a bitcoin wallet is faster than opening a bank account and it is more secure because transactions and funds cannot be signed or accessed without the owners private key.

Cryptocurrency wallets are also preferred for maintaining a high level of privacy, and transparency since transactions take place on the publicly distributed blockchain ledger. Bitcoin cryptocurrencies are viewed by many as a measure of inflation protection. Government-issued currencies generally lose value over time owing to central bank money creation, however, bitcoin defies depreciation due to its fixed/limited supply and decentralisation.

This might be especially beneficial for low-income countries, which have long suffered from weak currencies that are extremely susceptible to market fluctuations and inflation.

On the other hand, cybersecurity breaches, price volatility due to a lack of inherent value, scalability, and a lack of regulation and supervision by federal governments are all worries that keep investors away from Bitcoin. Nonetheless, cryptocurrencies may be here to stay, despite these potential barriers to mass adoption.

editor@newtimesrwanda.com

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1 Cryptocurrency With 5,400% Upside, According to Cathie Wood – The Motley Fool

Ark Invest Chief Executive Officer Cathie Wood has never shied away from bold predictions. In 2018, she put a price target on Tesla that implied a $672 billion market cap. Of course, Tesla has since exceeded that valuation by leaps and bounds -- but at the time, the company was worth just $56 billion.

Wood is also a well-known crypto bull. In fact, a recent report from Ark Invest suggests that Ethereum(ETH -0.20%) could achieve a valuation of more than $20 trillionin the next 10 years. That implies 5,400% upside from its current price. Given Wood's bullish outlook, let's take a closer look at this cryptocurrency.

Here's what you should know.

Ethereum has pushed the limits of blockchain technology. Rather than simply securing transaction data, the Ethereum blockchain allows developers to build self-executing computer programs known as smart contracts. That utility has revolutionized the industry, giving rise to a thriving ecosystem of decentralized applications (dApps), decentralized finance (DeFi) services, and non-fungible tokens (NFTs).

Not surprisingly, Ethereum has faced an onslaught of competition in recent years, and many rival blockchains are faster and cheaper. Even so, Ethereum still ranks as the most popular decentralized ecosystem of software and services. In fact, it powers nearly 75%of all dApps across any blockchain. Better yet, Ethereum accounted for 78% of all NFT sales last year, and it's the leading DeFi ecosystem, with $114 billioninvested on the platform.

DeFi services allow investors to lend, borrow, invest, and earn interest on money without involving banks or other financial institutions. To that end, DeFi makes financial services more efficient and more accessible. Case in point: The average U.S. savings account currently pays a 0.06% annual percentage yield (APY), but your return could be orders of magnitude higher in a DeFi protocol. For instance, the borrowing and lending platform Compoundcurrently pays 2.3%APY on USD Coin deposits, a stablecoin pegged to the U.S. dollar.

Ark Invest sees Ethereum's leadership in DeFi services as a significant growth driver in the years ahead. That's true for two reasons: First, whenever an investor engages with a DeFi product, the transaction fees are paid in the native cryptocurrency. In the context of Ethereum, that means the ETH coin, also known as ether. Second, ether itself is the preferredcollateral in DeFi, according to Ark's research. To that end, rising adoption of DeFi should create demand for the ETH coin, pushing its price higher.

Image source: Getty Images.

NFTs are digital certificates of ownership. While the term NFT is most often associated with JPEG art like CryptoPunks, any asset can be tokenized on a programmable blockchain. For instance, healthcare records could be turned into NFTs to better protect patient privacy, and education transcripts could be turned into NFTs to streamline the college admissions process. Even physical assets like tickets, cars, real estate, and collectible items could be tokenized to simplify transactions and proof of ownership.

Given the potential, Ark sees Ethereum's leadership in NFTs as a key advantage. It costs money to mint and buy NFTs, and when those transactions take place on Ethereum, the ETH coin is used as payment. In other words, as the NFT market continues to grow, demand for ETH should drive its price higher.

As a final thought, many investors are familiar with OpenSea, the world's most popular NFT marketplace. It should come as no surprise that OpenSea is built on Ethereum (among other blockchains), but so is the recently launched Coinbase NFT marketplace. And given its position as the largest U.S. cryptocurrency exchange, its new Coinbase NFT marketplace could strengthen Ethereum's competitive position in the coming years.

Ark makes a strong case for owning Ethereum. Yes, numerous competing blockchains are gaining ground, but Ethereum has maintained its market leadership despite soaring transaction fees. That says a lot about the platform's ability to create value for users. Better yet, a scaling solution is set to go live in 2023, supercharging Ethereum's throughput and lowering fees. That catalyst should reinforce its leadership position.

So can Ethereum soar 5,400% over the next decade? It's possible, though Ark's price target may be a little too optimistic. Regardless, Ethereum has positioned itself as a key enabler of DeFi services and NFT sales, and that advantage could create significant wealth for long-term investors. From that perspective, this cryptocurrency is worth buying.

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One of the most powerful DDoSes ever targets cryptocurrency platform – Ars Technica

A cryptocurrency platform was recently on the receiving end of one of the biggest distributed denial-of-service attacks ever after threat actors bombarded it with 15.3 million requests, content delivery network Cloudflare said.

DDoS attacks can be measured in several ways, including by the volume of data, the number of packets, or the number of requests sent each second. The current records are 3.4 terabits per second for volumetric DDoSeswhich attempt to consume all bandwidth available to the target809 million packets per second, and 17.2 million requests per second. The latter two records measure the power of application-layer attacks, which attempt to exhaust the computing resources of a targets infrastructure.

Cloudflare's recent DDoS mitigation peaked at 15.3 million requests per second. While still smaller than the record, its power was more considerable because the attack was delivered through HTTPS requests rather than HTTP requests used in the record. Because HTTPS requests are much more compute-intensive than HTTP requests, the latest attack had the potential to put much more strain on the target.

Cloudflare

The resources required to deliver the HTTPS request flood were also greater, indicating that DDoSers are growing increasingly more powerful. Cloudflare said that the botnet responsible, comprising about 6,000 bots, has delivered payloads as high as 10 million requests per second. The attack originated from 112 countries, with about 15 percent of the firepower from Indonesia, followed by Russia, Brazil, India, Colombia, and the United States.

Within those countries, the attack originated from over 1,300 different networks, Cloudflare researchers Omer Yoachimik and Julien Desgats wrote. They said that the flood of traffic mainly came from data centers, as DDoSes move away from residential network ISPs to cloud computing ISPs. Top data center networks included the German provider Hetzner Online GmbH (Autonomous System Number 24940), Azteca Comunicaciones Colombia (ASN 262186), and OVH in France (ASN 16276). Other sources included home and small office routers.

"In this case, the attacker was using compromised servers on cloud hosting providers, some of which appear to be running Java-based applications. This is notable because of the recent discovery of a vulnerability (CVE-2022-21449) that can be used for authentication bypass in a wide range of Java-based applications," Cloudflare VP of Product Patrick Donahue wrote in an email. "We also saw a significant number of MikroTik routers used in the attack, likely exploiting the same vulnerability that the Meris botnet did."

Cloudflare

The attack lasted about 15 seconds. Cloudflare mitigated it using systems in its network of data centers that automatically detect traffic spikes and quickly filter out the sources. Cloudflare didnt identify the target except that it operated a crypto launchpad, a platform used to help fund decentralized finance projects.

The numbers underscore the arms race between attackers and defenders as each attempts to outdo the other. It wont be surprising if a new record is set in the coming months.

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‘Pompo the Cinephile’ Goes Deep into the Messy Minds of Filmmakers – Animation World Network

Its a world of haughty actors and totally ripped actresses, decked out galas and stressed-out investors. Welcome to the world of dreams and madness. Welcome to Nyallywood, the setting of GKIDS latest cinematic effort: Pompo the Cinephile.

I do think it has a universal appeal - or, at least, I hope so, says writer and director Takayuki Hirao, previously known for his directorial work on anime series like God Eater and films like Majokko shimai no Yoyo to Nene. It's really important to be chasing your dreams. In this world, there are so many people who don't fit in or think that they're in the minority, or they're suffering because they're in the minority of dreamers. If I can, through this movie, guide them to move forward, I'd be really happy.

Hiraos hopes for the film actually reference one of the more pivotal lines spoken in the feature: Dont just look down. Look ahead, or youll lose something important.

Pompo the Cinephile - which released in U.S. theaters this past Friday, April 29 - begins with a gutsy producer named Pompo who is famous for her scandalous and trashy B-movies. Meanwhile, her timid, but movie-obsessed, assistant Gene has a dream to one day make great films that will shake the souls of viewers. But Gene believes he still has a long way to go to achieve his goals. Pompo believes otherwise and, after punching out an unexpectedly sincere script about a touching drama, announces that Gene will serve as the films director and sole editor.

As Pompo and Gene assemble their cast, with legendary Brando-esque actor Martin Braddock playing the tortured composer protagonist, and young actress Nathalie Woodward seeking her first break as the disarming heroine, Gene wonders if hes truly up to the task to take Pompos vision and find his own aria within the pages of her script working from 72 hours of filmed shots. But, in the words of Gene, I have no place to go but here. Only two choices: make a movie or die. So, Ill stake my life on this.

Its a sentiment Hirao is also familiar with.

When I was young, I was also the type that couldn't fit in with everybody else, he says. So, watching movies or reading manga or watching anime sort of saved me from loneliness. In that, I was really able to relate to Gene. So, I wanted to create a movie that has themes about the minority versus the majority and the original work by Shogo Sugitani had a lot of those same elements.

Hiraos film, produced by Your Names Kadokawa Productions and Clap Animation Studio, is based off a 2017 manga by Sugitani titled, in Japanese, Eiga Daisuki Ponpo-san. But the movie is saturated with classic Hollywood film inspiration. I was really inspired by Scorsese's Goodfellas, with how the most important scene in the movie is at the beginning and meant to really catch the attention of the viewers, notes Hirao. The inspiration I took from Whiplash came from the spirit of having to sacrifice something to chase your dreams. And then there's also a scene where one of the characters, Mr. Peterzen, is cutting old film and the film that he's cutting is an homage to Taxi Driver.

Specific to the design and sequencing, Hirao also uses film wipes for his films transitions, inspired by 127 Hours as well as the desire to drive home the never-ending, painstaking task of film editing and scene cutting.

The climax of this film is really about Gene editing, says Hirao. I wanted to express that. So, in the whole of the movie I did include a lot of wipes for transitions in various places.

Amidst the storys detailed and cutesy 2D anime, Hirao also incorporates 3D/CG and retro-colored animation during Genes scenes of editing both trailers for Pompos films and the entirety of his own movie. After beginning the computer editing process, Gene finds himself suddenly transported to a black void where film reels race past him. Equipped with a large sword, Gene begins running alongside the reels, hacking, and slashing away.

Especially in the scene where hes editing his own film, because it's a climax, I really wanted to make it dynamic, explains Hirao. If you were to show someone editing a movie in the real world, it's literally going to be the director sitting at a keyboard and just clacking away. But, since this is animation, I decided to mix reality and fantasy. I wanted to turn editing into an action scene. And, because this is animation, its not weird that Gene just steps into this world of fantasy where he has a sword instead of a keyboard.

These scenes also illustrate the abstract and anxiety-ridden feeling of what goes on in the mind of a director as they piece together their film.I do feel like Im holding a sword, but I'm not slashing away, says Hirao, laughing. It's more like Im just standing there, holding the sword wondering if I should cut or not.

While Pompo the Cinephile is a tribute to filmmaking and all the creative departments responsible for bringing a movie to the big screen, its a story, first and foremost, about the brave decision to dream, to reach for the stars no matter how unqualified or unequipped you feel.

Toward the end of the movie, when Gene asks for a reshoot, I really put a lot of emotion in there because I've actually done that before, says Hirao. I made this huge mistake and there was a time when I thought that maybe I wouldnt be able to make movies again. Of course, now, here I am, making this movie. But I really put a lot of that emotion into the scene because it happened to me before. I wanted to keep creating movies and Pompo was like an expression of my resolution to continue doing that.

According to Hirao, the feeling of failure can sometimes be the best fuel for further ambition. Or, in Pompos words from the film, Happiness kills creativity.

I do agree with that to an extent, he shares. Imagination starts with having a lot of emotions. And then those emotions become the core of what you create. So, if there's something that I'm not happy about, or if there's something that I want to express, I think that emotion within you is really what drives you to express what you want to in a movie.

Hirao says he hopes to express with Pompo the Cinephile that theres a home for everyone in the sparkly, colorful world of Nyallywood and wishes that the film will be an affirming push to those who need it.

If the viewers have a dream that they're chasing, I would like this film to be something that would nudge them forward, he says. Maybe after they see this movie, theyll leave the theater thinking, Okay, starting tomorrow, I'll try harder for my dream, or if there was a dream that theyd been giving up on, maybe this will inspire them to go back to chasing that dream again.

Tickets to the film are on sale at PompoMovie.comand participating theater box offices. Theaters and participants are subject to change.

Victoria Davis is a full-time, freelance journalist and part-time Otaku with an affinity for all things anime. She's reported on numerous stories from activist news to entertainment. Find more about her work at victoriadavisdepiction.com.

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The Best Criminal Mind Season 14 Episode According To IMDb – Looper

The highest-rated episode of "Criminal Minds" Season 14 on IMDb is the premiere episode, titled "300," which has a score of 8.4 with over 1,108 votes.IMDb user nokya said of the episode in their review, "Super performance from Matthew [Gubler] throughout the entire episode, he really succeeded in showing a critical evolution in [Reid's] character following the huge traumatic experience he just went through." Additionally,IMDb userTheLittleSongbird stated, "Season 14 gets off to a great start with another milestone episode '300' that promised a lot and delivers even more. One expects understandably a lot from a milestone episode and '300' didn't disappoint me, as far as the latter episodes go it's towards the top."

"300" is an interesting episode because it deals with a criminal cult leader known as Benjamin Merva (Michael Hogan), who escapes and reestablishes direct control of his organization in order to wreak vengeance on the government and the BAU. Merva uses his corrupt connections and moles within law enforcement to facilitate his jailbreak, and in the process, kidnaps Penelope Garcia and Spencer Reid. This puts the remaining members of the BAU into a rather precarious position, which sees them not only deal with Merva, but also attempt to rescue their friends and co-workers. This story resonated with "Criminal Minds" fans on IMDb, who have hoisted this particular episode to the position of the very best of Season 14.

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Cloud key to digital transformation in construction – IT-Online

The rate of digital adoption by the construction industry is soaring. In a survey conducted by RIB CCS in the final quarter of 2021, respondents singled out cloud computing as the most critical area to invest in followed by Building Information Modelling (BIM), mobile technology and integrated technology platforms.

RIB CCS Vice-President, Peter Damhuis, says the construction industry is notorious for being one of the least digitised industries in the world. Cloud computing is central to the solution. Its the foundation of the industrys digital revolution. It underpins all the most powerful software solutions, and enables the industry to take advantage of the latest technological developments.

Damhuis notes that each time a construction company moves onto a new site, it has to set up some form of infrastructure for employees and support teams. The complexity of the infrastructure differs from site to site, from relatively basic set-ups at smaller sites, to more complex arrangements at large sites.

Before cloud computing was widely adopted by the industry, people on site would require an IT infrastructure, printers and in some instances a dedicated server room to facilitate the exchange of data between teams. During the set-up phase, a team of IT specialists would arrive on site and go from one container to the next, installing equipment and running software.

Cloud computing has changed this scenario significantly. When everything is in the cloud, there is no need for major infrastructure on site. Construction companies need only connect their sites to the internet. While this can be challenging when a site is in a remote area, modern technology such as satellite phones, 4G and 5G can help to solve connectivity issues, adds Damhuis.

Less infrastructure also means fewer security concerns. When construction companies work in remote areas, they often have to guard against theft. When there is less equipment and infrastructure onsite, there is less to worry about, he adds.

In addition, cloud computing promotes greater efficiency when it comes to construction projects. For example, programmes such as BuildSmart can be accessed from wherever the various team members are located and provide one source of information for everyone. All of the manual processes of seeking information, submitting requisitions and creating orders can now be completed in the cloud in real time improving the outcomes for everyone involved.

The segregation of information, which saw each site have its own little hub of data, which was maintained on desktop computers and laptops, is fast becoming a thing of the past with the move to cloud computing. And, if someone loses a laptop, its not a major issue, because all the information is readily available in the cloud, says Damhuis.

He says, while construction companies have begun to move to the cloud, the process is not happening fast enough. There is a perceived cost element involved that construction companies cite as a hindrance. I say perceived, because if these businesses conducted a cost value exercise, they would realise that the costs saved on infrastructure, people efficiencies and other peripheral issues far outweigh the cost of introducing cloud computing.

Another challenge is trust. While most people will happily conduct all of their financial transactions on their mobile phones, construction companies are loathe to put confidential information in the cloud, even with the stringent security measures in place to keep their data secure.

Damhuis says when he started conducting conversations about moving to the cloud with his clients a few years ago, there was little interest in doing so. Those same clients are now asking us to help them make the transition. I believe the Covid-19 pandemic, Microsoft and other players in the industry are major drivers behind this.

He offers the construction industry more compelling reasons to expedite the move to cloud.

Ability to store unlimited data

The most obvious benefit of cloud computing is the ability to store masses of data relating to each project in a secure environment. Cloud storage protects data from the threat of physical loss or damage and makes it accessible from anywhere, anytime. Most cloud operators offer duplicity (a replica of your information in another data centre), which is added protection of data loss and continuity of service.

Potent data processing at hand

In the past, the processing of 3D models required laptops with massive engines, video cards and high processing speeds. With cloud computing, model optimisation and file format translation can be conducted in the cloud centres equipped with top of the range equipment and limitless processing power.

As a result, working on a 3D model now requires looking at the optimised data in the cloud, rather than having to use a desktop computer to create it.

Another compelling reason for choosing the cloud is the concept of Generative design, an iterative design process that uses the full power of the cloud to compute design alternatives. For example, if the construction team were building a complex arch, a Generative design would calculate the optimum span, shape and load, explains Damhuis.

Collaboration with multiple stakeholders

For a long time, the segregation of information on job sites has not been conducive to working in an integrated way.

Damhuis says each job has its own information, but once construction companies start compiling information over numerous job sites, they are able to track trends on projects and make better executive decisions.

Notably, the capturing of information by drones or videos streaming from site also allows for the real-time tracking of the events on site, allowing people at the support office to follow progress and creating a connection between people in support office and the people on site.

Related

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What You Need To Know Before You Start Working With Artificial Intelligence – Forbes

It seems like everyone is talking about artificial intelligence at the moment, and theres good reason for that. We are seeing its revolutionary impact across just about every industry:

In healthcare, where its used to track pandemics and develop vaccines.

In banking and finance, where it detects fraudulent transactions and enables more accurate assessments of lending risks.

In security, where it prevents cyberattacks and data breaches.

In biotechnology, where it augments advances made in fields such as gene editing, promising to help eradicate diseases and put an end to food shortages.

In retail, where it predicts what customers are likely to buy, and puts them in front of them at the time theyre ready to pull the trigger.

What You Need To Know Before You Start Working With Artificial Intelligence

I firmly believe that the true value of AI estimated to be worth $13 trillion to the global economy by 2030 will be realized due to it being accessible to businesses of all shapes and sizes, not just multinational corporations. A vast and eclectic ecosystem of cloud-based, as-a-service platforms reduces the need for expensive infrastructure investments and also means that niche solutions exist to help automate solutions in every industry.

But whether youre simply looking to use AI-augmented marketing tools or to implement machine learning and real-time data analytics from top to bottom of your organization, there are some important points to consider first. The cost of deploying AI may have fallen dramatically in the last decade, but it still requires an investment of time and money, and going into it half-cocked simply because it seems like everyone else is doing it, and you have a fear of missing out can be a recipe for an expensive disaster.

Strategy First

The first principle is to start with a strategy. Simply put, this means understanding what you are trying to achieve. AI technologies are tools that are deployed tactically to achieve strategic objectives. Your strategy should be in line with your business objectives are you aiming for growth? Improving customer retention or lifetime value? Or to reduce overheads involved with design, manufacturing, distribution, or after-sales service? Once you know what you want to achieve, then you can start looking for AI technologies such as machine learning, computer vision, or natural language processing - that can help you get the job done. I like to start by thinking of the key questions a business needs to answer to be able to hit its targets. Who wants to buy our products or services, or how can we improve the value customers get from dealing with us? Remember, always fit technology to a problem, rather than problems to the technology!

What data do I need?

Once you know what your problems are, start thinking about the information you need to answer questions and get them solved. Data might be internal, such as records of customer transactions and interactions, or external, such as information on demographic trends, behavioral data from social media, or publicly available government data. Data can also be structured neat, tidy data that fits into spreadsheets such as statistical data or website clickstream data, or unstructured messy but potentially highly valuable data such as images, videos, speech recordings, or written text. The most advanced AI projects often work with real-time streaming data. This gives us up-to-the minute insights that can be acted on immediately.

What infrastructure do I need?

Building AI infrastructure doesnt necessarily mean creating algorithms from scratch, big data storage solutions, and a complicated systems architecture process. Cloud providers give companies of any size access to pay-as-you-go storage and AI compute solutions, as well as consulting expertise to get them up and running. Nevertheless, its still important to understand the range of services and solutions available in your market. Will a public cloud provider give you everything you need? Particularly if youre interested in working with very sensitive personal data, you may need to consider on-premises or hybrid infrastructure at some level, which gives you more direct control over your information.

What governance issues will I face?

Working with data brings legal as well as moral and ethical obligations. Legislation is tightening around companies involved with collecting and processing personal information from their customers or the wider public, a good example of this is the European Union GDPR, introduced in 2018. The law (and others like it, such as the California Consumer Privacy Act) oblige businesses that collect personal data to operate within a robust legal framework or face harsh financial penalties. Governance also encompasses the ethical and moral questions that need to be addressed when applying technology in ways that might affect peoples lives. In the information age, trust is essential if customers dont trust you with their data, your plans are thwarted before you even start. This means you have to be able to demonstrate that everything youre doing is governed by a strong code of ethics.

What skills will I need?

There's no getting away from it; we are in the middle of an AI skills crisis. What that means is that industry is coming up with ideas for using AI quicker than colleges and universities can churn out graduates with the skills to bring these ideas to life. People with AI engineering talents are hot property on the jobs market, and their salaries reflect that. But AI doesnt build itself (quiet) yet, so you're going to need human skills. They can be acquired either by hiring them in (which, as mentioned, can be expensive) or by upskilling existing workforces. Another option is to partner with outside agencies, such as consultants. The approach you choose will depend to a large extent on the scale of your AI ambitions and the resources you have available.

Do you have a data-driven culture?

To some extent, this is all about attitude. What is the attitude, at all levels, towards technology, data, and AI-driven innovation in your organization? In a data-driven business culture, everyone from the boardroom to the shop floor understands the advantages that can be achieved by putting data at the heart of operations and decision-making. This certainly isnt true of all organizations. Some not-exactly-helpful attitudes that are still prevalent in business include "We aren't ready to be an AI company," "AI is too expensive or complicated," "We know our business better than a machine ever will, or Our customers arent interested in us becoming an AI company. There may be good reasons for all of these attitudes, but too often, they are grounded in a fear of the unknown or an unwillingness to move away from a methodology thats been successful in the past - even when its clearly becoming less successful as the world becomes increasingly digitized. The fact is, you can never know enough about your customers. You can never stop looking for ways to drive efficiency across your operations. And you can never stop making your products smarter and more useful. For almost any business, AI is the key to making these things happen.

Of course, this article only scratches the surface of what you need to know before you start working with AI. But all of these topics (and many more) are covered in-depth in the new edition of my book, Data Strategy: How to Profit From A World of Big Data, Analytics And Artificial Intelligence.

For more, subscribe to my newsletter and follow me on Twitter, LinkedIn, and YouTube. And dont forget to check out my website.

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What You Need To Know Before You Start Working With Artificial Intelligence - Forbes

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The Rise Of Artificial Intelligence: Will Robots Actually Replace People? – Forbes

Will robots replace human workers?

Robots and artificial intelligence (AI) are expected to permeate our daily lives by 2025. This could have huge implications on several business sectors, most notably health care, customer service, and logistics. Already, AI is responsible for medical research breakthroughs and climate research, not to mention self-driving cars.

Will robots replace human workers?

The answer to that seems to be divided. According to PEW research, about half (48%) of experts surveyed felt that robots and digital agents will displace a significant number of blue- and white-collar jobs. Their concern is that this will increase income inequality and create a mass of virtually unemployable people. The other half (52%) expect robotics and AI to create more jobs than they take. This latter half believes that while AI will replace humans, these experts have faith in human ingenuity to create new jobs, industries, and new ways of making a living much like at the dawn of the Industrial Revolution.

Of interest in the PEW study, both groups are concerned that our educational institutions are not adequately preparing people for the job market of tomorrow.

What is artificial intelligence?

AI in its simplest form stands for artificial intelligence designed to mimic human intelligence to perform tasks. Advocates of AI see this as a positive step forward. It will make it easier for businesses to identify and rectify problems. AI will potentially improve recruitment, cybersecurity, marketing, and standard operating processes.

AI can process large amounts of data and execute complex algorithms quickly and accurately. Each year, AI is getting "smarter" and increasing business efficiency.

What will it be like to work with robots?

Leading expert Martina Mara, Professor of Robopsychology at Johannes Kepler University Linz, suggests we ask a different question: What do we want the future of work to look like? How do we want robots to change our lives? She reminds us that robots are developed by people. While robots can work 24/7, they cannot generalize or contextualize. They have no soft skills.

They're hard wired, literally, to perform highly specific and clearly structured tasks. This is great news for humans we get to pass off the mundane repetitive tasks and adopt those that require critical thinking and problem solving based on human intuition.

AI is evolving and technology is having an increasingly bigger role, but it will complement and augment most jobs, not replace them. In a study involving 1500 companies, researchers found that the most significant performance improvements occurred when humans and machines worked together. Humans perform three crucial roles: they train machines what to do, explain outcomes especially when those are counterintuitive or controversial, and they sustain responsible use of machines. Robots need us just as much as we need them.

Robots are used to do the heavy lifting, literally. In manufacturing, cobots, context-aware robots, perform repetitive actions dominated by heavy lifting, while their human coworker completes complementary tasks that require more dexterity and judgment.

Whether you are pro-bot or anti-bot, you may not have a choice. Rosie the Robot who worked for the Jetsons is probably still far away, but we already have robots that will vacuum our floors and AI has been used in the customer service industry for years.

We need to begin to look at how we can improve technology-related skills while at the same time promoting characteristically human skills. Creativity, intuition, initiative, and critical thinking are human skills that will not likely translate to robots at least not soon. We should already be thinking of how we as employers and employees can harness robots to augment the work we do.

If not already, it won't be long before your next coworker is a robot.

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The Rise Of Artificial Intelligence: Will Robots Actually Replace People? - Forbes

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How Artificial Intelligence Can Help Fight Fires in the West – Governing

(TNS) With wildfires becoming bigger and more destructive as the West dries out and heats up, agencies and officials tasked with preventing and battling the blazes could soon have a new tool to add to their arsenal of prescribed burns, pick axes, chain saws and aircraft.

The high-tech help could come way of an area not normally associated with fighting wildfires: artificial intelligence. And space.

Lockheed Martin Space, based in Jefferson County, Colo., is tapping decades of experience of managing satellites, exploring space and providing information for the U.S. military to offer more accurate data quicker to ground crews. They are talking to the U.S. Forest Service, university researchers and a Colorado state agency about how their their technology could help.

The scenario that wildland fire operators and commanders work in is very similar to that of the organizations and folks who defend our homeland and allies. Its a dynamic environment across multiple activities and responsibilities, said Dan Lordan, senior manager for AI integration at Lockheed Martins Artificial Intelligence Center.

Lockheed Martin aims to use its technology developed over years in other areas to reduce the time it takes to gather information and make decisions about wildfires, said Rich Carter, business development director for Lockheed Martin Spaces Mission Solutions.

The concept of a regular fire season has all but vanished as drought and warmer temperatures make Western lands ripe for ignition. At the end of December, the Marshall fire burned 991 homes and killed two people in Boulder County. The Denver area just experienced its third driest-ever April with only 0.06 of an inch of moisture, according to the National Weather Service.

Colorado had the highest number of fire-weather alerts in April than any other April in the past 15 years. Crews have quickly contained wind-driven fires that forced evacuations along the Front Range and on the Eastern Plains. But six families in Monte Vista lost their homes in April when a fire burned part of the southern Colorado town.

Since 2014, the Colorado Division of Fire Prevention and Control has flown planes equipped with infrared and color sensors to detect wildfires and provide the most up-to-date information possible to crews on the ground. The onboard equipment is integrated with the Colorado Wildfire Information System, a database that provides images and details to local fire managers.

Last year we found almost 200 new fires that nobody knew anything about, said Bruce Dikken, unit chief for the agencys multi-mission aircraft program. I dont know if any of those 200 fires would have become big fires. I know they didnt become big fires because we found them.

When the two Pilatus PC-12 airplanes began flying in 2014, Colorado was the only state with such a program conveying the information in near real time, Dikken said. Lockheed Martin representatives have spent time in the air on the planes recently to see if its AI can speed up the process.

We dont find every single fire that we fly over and it can certainly be faster if we could employ some kind of technology that might, for instance, automatically draw the fire perimeter, Dikken said. Right now, its very much a manual process.

Something like the 2020Cameron Peakfire, which at 208,663 acres is Colorados largest wildfire, could take hours to map, Dikken said.

And often the people on the planes are tracking several fires at the same time. Dikken said the faster they can collect and process the data on a fires perimeter, the faster they can move to the next fire. If it takes a couple of hours to map a fire, what I drew at the beginning may be a little bit different now, he said.

Lordan said Lockheed Martin engineers who have flown with the state crews, using the video and images gathered on the flights, have been able to produce fire maps in as little as 15 minutes.

The company has talked to the state about possibly carrying an additional computer that could help crunch all that information and transmit the map of the fire while still in flight to crews on the ground, Dikken said. The agency is waiting to hear the results of Lockheed Martins experiences aboard the aircraft and how the AI might help the state, he added.

They have a strong interest in applying their skills and capabilities to the wildland fire problem, and I think that would be welcome, Finney said.

The lab in Missoula has been involved in fire research since 1960 and developed most of the fire-management tools used for operations and planning, Finney said. Were pretty well situated to understand where new things and capabilities might be of use in the future and some of these things certainly might be.

However, Lockheed Martin is focused on technology and thats not really been where the most effective use of our efforts would be, Finney said.

Prevention and mitigation and preemptive kind of management activities are where the great opportunities are to change the trajectory were on, Finney said. Improving reactive management is unlikely to yield huge benefits because the underlying source of the problem is the fuel structure across large landscapes as well as climate change.

Logging and prescribed burns, or fires started under controlled conditions, are some of the management practices used to get rid of fuel sources or create a more diverse landscape. But those methods have sometimes met resistance, Finney said.

As bad as the Cameron Peak fire was, Finney said the prescribed burns the Arapaho and Roosevelt National Forests did through the years blunted the blazes intensity and changed the flames movement in spots.

Unfortunately, they hadnt had time to finish their planned work, Finney said.

Lordan said the value of artificial intelligence, whether in preventing fires or responding to a fire, is producing accurate and timely information for fire managers, what he called actionable intelligence.

One example, Lordan said, is information gathered and managed by federal agencies on the types and conditions of vegetation across the country. He said updates are done every two to three two years. Lockheed Martin uses data from satellites managed by the European Space Agency that updates the information about every five days.

Lockheed is working with Nvidia, a California software company, to produce a digital simulation of a wildfire based on an areas topography, condition of the vegetation, wind and weather to help forecast where and how it will burn. After the fact, the companies used the information about the Cameron Peak fire, plugging in the more timely satellite data on fuel conditions, and generated a video simulation that Lordan said was similar to the actual fires behavior and movement.

While appreciating the help technology provides, both Dikken with the state of Colorado and Finney with the Forest Service said there will always be a need for ground-truthing by people.

Applying AI to fighting wildfires isnt about taking people out of the loop, Lockheed Martin spokesman Chip Eschenfelder said. Somebody will always be in the loop, but people currently in the loop are besieged by so much data they cant sort through it fast enough. Thats where this is coming from.

2022 MediaNews Group, Inc. Distributed by Tribune Content Agency, LLC.

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