Page 218«..1020..217218219220..230240..»

Stellar Development Foundation Q1 2024 Report: Smart Contracts Live on Stellar and $533m in Real World Assets – Crypto Reporter

Today the Stellar Development Foundation (SDF) released its Q1 2024 report. In the first quarter of 2024, Stellar launched smart contracts. Soroban is a developer-friendly, Rust-based smart contracts platform designed for scale and sensibility. The total supply of real world assets held on Stellar also topped $533 million. The total payments volume expressed on Stellar in Q1 was $1.6 billion. Stellar continues to be an industry leader in low transaction costs, with an average transaction cost of $0.000065.

Stellar kicked off the new year with the launch of smart contracts, marking the biggest change on the Stellar network since it launched a decade ago, said Stellar Development Foundation CEO Denelle Dixon. The Stellar Community Fund awarded $3.2 million to projects being built on Stellar and that funding will help grow the Stellar community and support projects that will bring real world utility to the Stellar network. Tokenized assets continue to grow on Stellar as more financial institutions recognize the advantages of tokenized assets and the power Stellar gives them to issue and control those assets. The year is off to a great start and we look forward to gathering with the Stellar community on October 15-17 in London to celebrate what we have accomplished and the exciting projects being built on Stellar.

SDF is committed to a future proof and sustainable Stellar. Stellars low transaction fees, smart contract capability and the Stellar Community Fund are critical parts of building a sustainable Stellar network that is enabling real world utility today and will grow as blockchain technology is adopted more widely.

Financial inclusion and real world utility are integral to SDFs mission. SDF is focused on everyday financial services because we want to help build a global financial system that includes everybody. Asset tokenization, on and off-ramps, and wallets are all key parts of the network that are providing real world utility to people across the globe. SDF is also pushing for increased adoption of the utility that Stellar Aid Assist and the Stellar Disbursement Platform (SDP) are providing to organizations engaged in humanitarian work, like the United Nations High Commission for Refugees (UNHCR). To date UNHCR has used Stellar Aid Assist to disburse more than $2.2m to internally displaced people in Ukraine.

SDF also believes that a trustworthy technology stack is the best kind to advance adoption of blockchain technology. That is why SDF has collaborated with the ecosystem to make sure not only that Soroban is the best smart contract platform, but also that it is secure. This quarter, the Stellar Development Foundation has focused on the technical capabilities and third party services necessary to establish smart contracts on Stellar as a leader in safety. Thats why SDF launched the Soroban Audit Bank as part of SDFs ongoing commitment to promoting high standards for smart contract security throughout the Stellar ecosystem. The program is distributing up to $1 million dollars in security audit credits in coordination with six top-tier audit firms. Audit credits have been used for 15 projects thus far.

SDF leaders have traveled across the globe and conducted listening sessions in Ghana, Nigeria, and Kenya to hear directly from Stellar community members in places too frequently left out of the global financial system. At Meridian 2024, October 15-17 in London, SDF will convene our community to celebrate what weve achieved and look ahead to what we will build next on Stellar.

About Stellar

Stellar is more than a blockchain. Powered by a decentralized, fast, scalable, and uniquely sustainable network made for financial products and services and a thriving and passionate ecosystem that includes a non-profit organization driven by a mission, Stellar is paving the path to unlock the worlds economic potential through blockchain technology. Built with speed and low costs in mind, the Stellar network provides builders and financial institutions worldwide a platform to issue assets, and to send and convert currencies in real time creating real world utility. Founded in 2014, the Stellar Development Foundation (SDF) supports the continued development and growth of the Stellar network and also serves the ecosystem of NGOs, corporations, universities, small businesses, governments, and solo entrepreneurs building on the Stellar network through tooling, funding and strategic collaborations. Together, Stellar is where blockchain meets the real world.

About the Stellar Development Foundation

The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, an open-source network that connects the worlds financial infrastructure. Founded in 2014, the Foundation helps maintain Stellars codebase, supports the technical and business communities building on the network, and serves as a voice to regulators and institutions. The Foundation seeks to create equitable access to the global financial system, using the Stellar network to unlock the worlds economic potential through blockchain technology. For more information, visit stellar.org/foundation.

See the original post here:

Stellar Development Foundation Q1 2024 Report: Smart Contracts Live on Stellar and $533m in Real World Assets - Crypto Reporter

Read More..

5 Common Crypto Attacks And How TO Protect Yourself – CCN.com

Key Takeaways

The crypto world presents fascinating opportunities for decentralized systems and financial innovation. But just like any new technology with substantial potential, it also draws bad actors looking to take advantage of weaknesses.

Knowing the most prevalent attack methods and how to defend oneself are essential for successfully navigating the cryptocurrency world. The most common crypto attacks to be aware of include:

This article will explain the above listed crypto attacks and how to protect yourself against them.

Phishing is one of the most widely used attack vectors in cryptocurrencies and traditional finance. Attackers that use phishing attacks frequently pose as reputable companies, exchanges, wallet providers, or well-known cryptocurrency initiatives.

To fool victims into disclosing their private keys, seed phrases, or login credentials, they may utilize phony websites, emails, or social media communications.

To protect yourself from phishing attacks, one can use the below measures:

Malicious software, often known as malware, can take many different forms and is intended to steal crypto assets or private data. Typical forms of malware found in the cryptocurrency world include:

To safeguard against crypto malware attacks, consider these precautions:

Although 51% attacks are mostly dangerous for smaller blockchains, they are nonetheless important to be aware of. When one person or organization controls more than 50% of the network hash rate (computer power) of a blockchain, an attack of this kind takes place.

With this control, they can:

Use following safety measures to protect yourself from 51% attacks:

On blockchains, smart contracts are self-executing programs that carry out agreements or automate transactions.

Even though smart contracts are very helpful, badly written ones may have vulnerabilities that hackers might take advantage of. These flaws can occasionally result in money theft or alter the intended behavior of the smart contract.

Employ these safety precautions to shield yourself from smart contract vulnerabilities:

Dusting attacks are meant to compromise the anonymity that is the foundation of many cryptocurrencies. Attackers transfer small quantities of cryptocurrency (dust) to numerous wallets.

They then keep an eye on the blockchain to trace the movement of this dust and when. By connecting wallets to potentially identifiable exchanges or transactions, the intention is to deanonymize wallets.

Employ these safety protocols to defend crypto dusting attacks:

Attacks using cryptocurrencies demonstrate why security and awareness are essential in this changing environment. Risks include phishing scams, malware and attacks on blockchains and smart contracts. Its critical to be knowledgeable, use robust security methods like hardware wallets and multi-factor authentication, and practice vigilant caution.

Give top priority to funding initiatives with a track record of success and open security procedures. Recall that your best line of protection against losing your cryptocurrency holdings to dishonest parties is vigilant awareness.

Was this Article helpful? Yes No

Read the original here:

5 Common Crypto Attacks And How TO Protect Yourself - CCN.com

Read More..

Friend.tech v2 airdrop could introduce non-transferable token – TradingView

Decentralized social media platform Friend.tech is preparing for its version two launch and airdrop on May 3, but a leaked smart contract suggests it may have controversial features, including a non-transferable token.

The nontransferable tokens may be introduced with the airdrop, according to pseudonymous decentralized financeresearcher CBBOFE, who claims in a May 2 X postto have potentially found the smart contracts.

Ticker is $POINT, not transferable unless to some whitelisted addresses. $POINT will be tradable on BunnySwap (FT native DEX).

A nontransferable token means that airdrop recipients wont be able to sell or exchange the coins, except for certain whitelisted protocol addresses.

Restaking protocol EigenLayer has also decided to issue a nontransferable token for its EIGEN airdrop, which was one of the main reasons behind the recent outrage surrounding EigenLayer.

Friend.tech made the token nontransferable to make users pay the 1.5% fee, according to Kasper Vandeloock, a quantitative crypto trader and adviser at the X10 exchange. He told Cointelegraph:

If you cant transfer it, you are forced to sell it through them, which has the 1.5% fee. [] Which is kind of ironic, they bring this strong we are anti-VC vibe to the table while being a profit factory for Paradigm.

The new potential token, POINTS, will function as a utility token that allows for the creation of social clubs on the platform, which may cost a 1.5% platform fee, according to CBBFOE:

New smart-contract called Clubs. Anyone can create multiple clubs and a bonding curve among several options. 1.5% platform fee and 1.5% staking contract. Club keys are bought with $POINT.

The new tokens will also be offered as rewards for users staking their Ether (ETH) and POINTS tokens in the Friend.tech smart contract.

The announcement caused concerns among crypto enthusiasts. Pseudonymous crypto trader MK commented:

I hate Eigen so much for starting this non-transferrable meta.

Related: EigenLayer sees over 12,000 queued withdrawals How far will TVL fall?

Non-transferable tokens could reduce initial airdrop selling pressure

While nontransferable tokens have been causing significant community outrage, they could benefit the long-term price action of the cryptocurrency, as tokens tend to see drastic declines following airdrops.

At the end of April, the Omni Networks OMNI token fell 55% in less than 18 hours following it airdrop, losing over half of its market capitalization.

Wormholes W token is another example, falling nearly 25% in value only a couple of hours after anairdrop on April 3. The token is down over 47% since the airdrop, according to CoinMarketCap.

Crypto airdrops are often riddled with professional airdrop hunters (or squatters) that farm the same airdrop with multiple cryptocurrency wallets with no intention of using the protocol in the long term and market selling the rewards after claiming.

In March 2023, it was revealed that airdrop hunters consolidated $3.3 million worth of tokens from Arbitrums ARB airdrop from 1,496 wallets into just two wallets they had controlled.

Related: LayerZero cross-chain interoperability protocol completes first airdrop snapshot

Here is the original post:

Friend.tech v2 airdrop could introduce non-transferable token - TradingView

Read More..

What Is Tokenized Real Estate – CCN.com

Key Takeaways

The concept of real estate tokenization focuses on two primary objectives.

Through the integration of blockchain technology and smart contracts, tokenization facilitates for:

Traditional real estate investment is known for its capacity as a store-of-value and investment returns over time, however, the property market is known for its illiquidity because traditional ownership of real estate is:

Essentially, tokenizing real estate using the blockchain involves the creation of either non-fungible tokens (NFTs) or fungible tokens, based on the specific needs. NFTs are ideal for representing entire properties or groups of properties as a single token.

On the other hand, fungible tokens are better suited for dividing a property into multiple shares where one property is split into X amount of tokens, allowing an individual to open a percentage or hold fractional ownership.

By converting real estate assets into digital tokens, which represent a share of ownership in a specific property. The tokens will then be bought and sold on blockchain platforms or marketplaces, facilitating a more liquid real estate market.

Tokenization will then adopt smart contracts which will automate and enforce contract terms such as the distribution of dividends from rental income or sale proceeds.

This ultimately will reduce the need for intermediaries and cut transaction costs and times significantly.

Tokenizing commercial properties involves converting office buildings, retail spaces, and industrial sites into blockchain tokens that comply with legal standards.

This method not only simplifies the investment and sale process but also broadens the investor base by providing easier access to high-value assets.

This approach allows for the fractional tokenization of residential properties, such as apartments and homes, making it feasible for investors, asset owners, and developers to engage with the market on a more detailed level.

Residential tokenization democratizes property investment, enabling smaller investors to participate in markets previously dominated by wealthy individuals or institutional investors.

Tokenizing iconic and famous buildings such as landmark skyscrapers or historic structures in prime locations, harnesses the specific real estate value for broader market participation.

These trophy properties often attract international investors looking to add prestigious assets to portfolios, which will increase liquidity in the real estate market.

Tokenized assets generate revenue by opening up new investment opportunities and lowering entry barriers, allowing more investors to participate in the real estate market. Property owners are more able to quickly raise capital selling tokens representing parts of a property.

Investors can potentially earn returns through appreciation of token value and income generated from the property, such as rent or lease payments.

Dynamic tokenized real estate uses dynamic NFTs (dNFTs) which are an upgrade on traditional NFTs because dynamic NFTs automatically update the data to reflect changes which might include renovations or ownership transfers. These NFTs will then serve as digital representation of property ownership and can include information about the property that updates in real-time.

One blockchain that facilitates dynamic NFTs is Chainlink, which is a tool that connects smart contracts to external data sources where dynamic NFTs can integrate continuous updates such as images or videos showcasing the propertys current state. Ongoing visual documentation will only enrich the propertys digital profile, offering prospective buyers detailed and updated insights which can greatly inform and influence future investment decisions in a true and fair manner.

Fractionalized real estate tokenization leverages blockchain technology to break down property ownership into smaller manageable shares through Non-Fungible Tokens (NFTs).

This approach makes real estate investment more accessible, reducing the entry cost and allowing investors to buy, sell, or trade shares on digital platforms, increasing liquidity. With each tokenized share a clarity in ownership is reached using immutable ownership records.

Tokenizing real estate involves transforming property assets into digital tokens on a blockchain, enabling easier and more fractionalized ownership. The steps involved in the process are as follows:

In the first step of real estate tokenization, stakeholders will have to agree on all the key details to do with the property and the propertys valuation along with the share of equity that will be tokenized.

It is important to select a blockchain platform that adequately fits the needs of the project, considering factors like scalability, security, and the cost of transactions. Options like Ethereum, Algorand, Tezos, and BNB Smart Chain are popular due to the varying advantages in handling transactions and executing smart contracts.

This process involves converting the propertys legal and financial documents into digital form to integrate them into the blockchain, ensuring that all details are accurate and meet legal standards to maintain the tokens validity and security.

Tokens that represent ownership or equity in the property are created as either fungible or non-fungible tokens and distributed to investors via sales. This process leverages smart contracts to automate and regulate the distribution process in accordance with securities laws.

Real estate tokenization is legal, but it is heavily dependent on local and international regulations. Compliance with securities laws, KYC (Know Your Customer), and AML (Anti-Money Laundering) regulations is required.

The legal standing of real estate tokenization continues to be understood more fully, impacting how and where tokenization can be implemented.

Tokenization can make real estate assets more liquid, allowing for easier buying and selling of shares in property, much like trading stocks.

By lowering the entry cost, tokenization allows smaller investors to participate in real estate markets that were previously accessible only to wealthy individuals or institutional investors.

Investors can buy tokens representing fractional shares of a property, enabling them to diversify portfolios without needing to invest large sums in single properties.

Blockchain technology offers a transparent transaction ledger, which helps reduce fraud and ensures all parties have access to the same data regarding transactions and ownership.

Tokenization can streamline the process of buying and selling real estate, reducing the need for intermediaries such as brokers and lawyers, which cuts down on fees and transaction times.

Investors from around the world can easily participate in tokenized real estate markets, providing properties with access to global capital.

Smart contracts can automate legal and regulatory compliance, reducing the complexity and potential for error in traditional real estate transactions.

The legal framework for tokenized real estate is still evolving, which can pose risks when converting property into tokenized NFTs, due to regulatory changes and jurisdictional variations.

Traditional investors may be hesitant to adopt tokenization because of unfamiliarity with the technology or concerns about the validity and security of digital transactions.

Dependence on blockchain technology means that any fundamental issues with the blockchain used such as security vulnerabilities or scalability problems could impact tokenized real estate assets.

Managing a tokenized property can be complex, especially in determining the value of tokens when the underlying asset appreciates or depreciates.

Despite increased liquidity potential, the actual liquidity of real estate tokens can be limited by market demand, which might not be as high as anticipated.

Integrating blockchain and real estate registries requires significant changes to existing systems, which can be costly and complex.

While blockchain increases transparency, theres still a risk of fraud in initial token offerings or from platforms hosting token sales without adequate security measures.

The future of tokenizing real estate looks toward greater integration with financial markets and the potential for interoperability among different blockchain platforms, with developments in the space of decentralized finance (DeFi) potentially allowing for more sophisticated financial maneuvers like real estate-backed loans.

The real estate sector is likely to see more innovation and acceptance as regulatory frameworks adapt to suit this novel approach. Tokenization of real estate has the ability to completely change the market by creating new investment opportunities and altering the purchasing, selling, and management of real estate.

Tokenization of real estate using blockchain technology is creating a new form of property investment tackling illiquidity issues, barriers to entry, and overall efficiency. Tokenization of real estate allows for fractional ownership, broadens investor bases globally, and will reduce transaction complexities, all this while ensuring compliance and transparency through smart contracts.

As the industry navigates through the regulatory landscapes and technological challenges, the future of real estate tokenization is promising with a potential for transforming how properties are bought, sold, and managed on a global scale.

Tokenization could potentially stabilize property prices by increasing market efficiency and transparency, although its largely dependent on market dynamics and adoption rates.

Disputes in tokenized real estate are handled through predefined smart contract terms, and legal arbitration may be used as necessary, following the legal stipulations embedded within the tokenization platform and the smart contract in place.

If a blockchain platform hosting tokenized real estate fails, recovery mechanisms predefined in the platforms architecture would be activated, and legal safeguards and backups help protect asset ownership data.

Governments will set the legal and regulatory frameworks that guide the tokenization of real estate, focusing on protecting investors, ensuring market stability, and preventing fraud.

Was this Article helpful? Yes No

More here:

What Is Tokenized Real Estate - CCN.com

Read More..

Eclipse And Neon EVM Drive Solana-Ethereum Integration For Blockchain Interoperability – TradingView

Layer 2 (L2) blockchain Eclipse and developer-oriented bridge Neon EVM have formed a new collaboration to implement changes in the blockchain landscape, increasing interoperability and scalability with the integration of Ethereum (ETH) and Solana (SOL).

Aiming to combine the capabilities of both blockchains, Eclipse has consolidated the compatibility between the Ethereum Virtual Machine (EVM) and the Solana Virtual Machine (SVM) by deploying Neon Stack.

Solana And Ethereum Integration

The primary objective of this collaboration is to integrate Solanas transaction handling capabilities, which can process thousands of transactions per second, into Ethereum.

This integration will be facilitated by Neon Stack, a standardized development stack that enables smart contract developers to achieve Ethereum Virtual Machine compatibility on Solana Virtual Machine-based blockchain networks. Eclipse plans to leverage Neon Stack on its SVM L2 to facilitate this integration.

The Neon Stack consists of Neon EVM smart contracts and Neon Proxy. It has been live on the Solana mainnet since July 2023. It has deployed numerous Ethereum-native Solidity decentralized applications (dApps), including decentralized finance (DeFi), gaming, and decentralized exchanges (DEXs), on Solana from its existing codebase.

Neon EVM-Eclipse Partnership For Cross-Chain Development

Davide Menegaldo, Chief Commercial Officer (COO) of Neon EVM, expressed enthusiasm for Neon Stack and the collaboration, stating:

With Neon Stack, we are paving the way for high-performance, scalable dApps infrastructure that transcends the limitations of traditional blockchain architectures and redefines computational efficiency. We are pleased to see Eclipse as the first industry partner to utilize the Neon Stack.

On the other hand, Neel Somani, founder of Eclipse Labs, the company behind the development of the Layer 2 blockchain, also emphasized the importance of the partnership, saying:

Our collaboration with Neon Stack enables developers to seamlessly deploy their dApps from EVM chains to Eclipse, further strengthening the harmonization between Solana and Ethereum. Solidity developers who wish to build on a high-performance L2 that leverages the strengths of the SVM can finally do so.

Interestingly, the Ethereum ecosystem hosts over 13,000 dApps, with only a small fraction, 0.4%, cross-chained with Solana. This collaboration between Neon EVM and Eclipse could also provide further opportunities for developers to build new dApps with the new integration.

In sum, it is believed that developers will be able to build advanced dApps that leverage the features of Ethereum and Solana, along with their respective native ecosystems and virtual machines, by leveraging the design of the NEON Stack and Eclipse.

As of the current update, the native token of NEON EVM, NEON, is trading at $1.0135. It has shown a 2.6% recovery over the past 24 hours, aligning with the overall positive movement in the cryptocurrency market. However, during the past 7 days, the token has witnessed a price decline, experiencing a nearly 8% drop.

Featured image from Shutterstock, chart from TradingView.com

Read more here:

Eclipse And Neon EVM Drive Solana-Ethereum Integration For Blockchain Interoperability - TradingView

Read More..

Top 10 Amazing Ways ZK-Rollups Are Simplifying Account Abstraction In 2024 – Blockchain Magazine

The year 2024 has witnessed a surge in the exploration of innovative solutions to address scalability and privacy concerns in the blockchain space. Two such advancements, ZK-Rollups and Account Abstraction, are poised to revolutionize the way we interact with blockchains. Lets take a deep dive into these technologies and explore their synergistic potential.

ZK-Rollups, short for Zero-Knowledge Rollups, are a layer-2 scaling solution for blockchains. They address scalability limitations by processing transactions off-chain on a separate blockchain called a sidechain. Heres the core concept:

This approach significantly reduces the load on the main blockchain, enabling faster transaction processing times and lower fees compared to traditional on-chain transactions.

Account Abstraction introduces a layer of separation between user accounts and their cryptographic keys. Traditionally, blockchain users interact directly with their private keys, which can be complex to manage and susceptible to security risks. Account Abstraction offers several advantages:

Also, read Top 9 Historical Moments In The Ethereum Scalability Story And The Monumental Evolution Of Rollups

In the ever-evolving realm of blockchain technology, the quest for scalability and user experience remains paramount. Two groundbreaking advancements, ZK-Rollups and Account Abstraction, are converging to create a powerhouse for secure and scalable blockchain ecosystems. Lets delve into the intricacies of this dynamic duo and explore how they are revolutionizing the future of decentralized applications (dApps).

ZK-Rollups: Scaling Without Compromise

Core Concept: ZK-Rollups, or Zero-Knowledge Rollups, are a layer 2 scaling solution that bundles a large number of transactions off-chain and generates a cryptographic proof of their validity. This proof is then submitted to the main blockchain (layer 1) for verification. The beauty lies in the fact that only the proof, a tiny fraction of the actual data, needs to be stored on the main chain, significantly reducing the computational burden and transaction fees.

Benefits for Scalability: Imagine a highway with multiple lanes instead of just one. ZK-Rollups act like these additional lanes, allowing for a massive increase in transaction throughput compared to the main blockchain. This translates to faster transaction processing times and lower fees, making dApps more accessible and user-friendly.

Security Inherited: While transactions occur off-chain, security remains a top priority. ZK-Rollups leverage the security of the underlying main blockchain by relying on zero-knowledge proofs. These proofs mathematically guarantee the validity of the transactions without revealing the actual transaction data, ensuring the integrity of the system.

Account Abstraction: Empowering User Flexibility

Traditional Accounts vs. Smart Contract Accounts: Currently, blockchain interactions rely on externally owned accounts (EOAs) with limited functionality. Account Abstraction introduces the concept of Smart Contract Accounts, programmable accounts that offer greater flexibility and security.

Benefits for Users: Imagine a more versatile bank account. Account Abstraction allows users to define custom logic for their accounts, enabling features like multi-signature approvals, spending limits, and recovery mechanisms in case of lost private keys. This empowers users with greater control over their digital assets.

Benefits for Developers: Account Abstraction simplifies development by decoupling the logic of user accounts from the application itself. Developers can focus on core functionalities of their dApps without worrying about the intricate details of account management. This can lead to faster development cycles and more innovative dApps.

The Synergistic Power of ZK-Rollups and Account Abstraction

When ZK-Rollups and Account Abstraction come together, they create a powerful force for a scalable and user-friendly blockchain experience:

Enhanced Scalability with Flexible Accounts: ZK-Rollups handle the heavy lifting of transaction processing, while Account Abstraction empowers users with flexible and programmable accounts within the rollup environment. This combination allows for a vast number of users to interact with dApps on the rollup without compromising on scalability.

Improved User Experience: Account Abstraction simplifies user interactions with dApps by enabling features like multi-signature wallets and gasless transactions. This creates a more intuitive and user-friendly experience, fostering broader adoption of blockchain technology.

Privacy-Preserving Scalability: ZK-Rollups inherently offer a degree of privacy by keeping transaction details off-chain. Account Abstraction can further enhance privacy by allowing users to control the information revealed about their account activity on the blockchain.

Account Abstraction, a revolutionary concept for programmable and flexible user accounts on blockchains, has immense potential. However, its technical complexity can pose challenges for developers. Enter ZK-Rollups, layer 2 scaling solutions that are acting as a catalyst for simpler and more accessible Account Abstraction in 2024. Here are 10 amazing ways ZK-Rollups are simplifying Account Abstraction:

Off-Chain Computation: ZK-Rollups handle the heavy lifting of complex computations related to Account Abstraction logic off-chain. Imagine developers focusing on core dApp functionalities without getting bogged down in the intricacies of on-chain account management. This streamlines development processes and reduces the computational burden on the main blockchain.

Reduced Gas Fees: ZK-Rollups significantly lower transaction fees associated with Account Abstraction features like multi-signature wallets and programmable spending limits. Imagine cost-effective smart contract accounts, making them a viable option for a wider range of dApps and users.

Simplified Smart Contract Development: By handling the off-chain execution of Account Abstraction logic, ZK-Rollups reduce the amount of code developers need to write within their smart contracts. This translates to faster development cycles and more concise smart contracts, improving overall code maintainability.

Enhanced Security for User Accounts: ZK-Rollups inherit the security of the underlying main blockchain for final transaction settlements. Even though Account Abstraction logic resides off-chain, the security of user funds remains paramount. Imagine a future where programmable accounts benefit from the battle-tested security of the main blockchain.

Scalability for a Booming dApp Ecosystem: ZK-Rollups enable the processing of a massive number of transactions off-chain, making them ideal for accommodating a growing dApp ecosystem with Account Abstraction features. Imagine a future where a vast number of users can interact with dApps utilizing advanced account management features without compromising on scalability.

Faster Onboarding for New Users: ZK-Rollups, combined with Account Abstraction, can simplify the onboarding process for new users. Imagine a future where users can create programmable accounts with features like multi-signature security or social recovery mechanisms without the complexities of traditional key management.

Privacy-Preserving Account Management: ZK-Rollups offer a degree of privacy by keeping transaction data off-chain. Account Abstraction can leverage this inherent privacy to allow users control over the information revealed about their account activity on the blockchain. Imagine a future where users can enjoy the benefits of programmable accounts while maintaining a degree of privacy for their transactions.

Interoperability Potential: ZK-Rollup solutions are actively exploring interoperability advancements. This fosters a future where users with programmable accounts on one ZK-Rollup can potentially interact with dApps on another, seamlessly leveraging their advanced account features across different blockchain environments.

A Testing Ground for Innovation: ZK-Rollups provide a sandbox environment for developers to experiment with and iterate on Account Abstraction features. Imagine a future where ZK-Rollups act as a proving ground for innovative account management solutions that can later be integrated into the main blockchain.

Accelerating Mainstream Adoption: ZK-Rollups, by simplifying Account Abstraction, are paving the way for faster mainstream adoption of this powerful technology. Imagine a future where programmable accounts become the norm, empowering users with greater control and flexibility over their digital assets within the blockchain ecosystem.

While both ZK-Rollups and Account Abstraction are still under development, significant progress has been made in 2024. Several projects are actively implementing these technologies, paving the way for a more scalable, secure, and user-friendly blockchain experience. As these technologies mature, we can expect to see them play a transformative role in the future of blockchain adoption and innovation.

Here are some additional points to consider for your deep dive:

By understanding the individual strengths of ZK-Rollups and Account Abstraction, and the potential they hold when combined, you can gain valuable insights into the future trajectory of blockchain technology.

ZK-Rollups are acting as a catalyst for the simplification and broader adoption of Account Abstraction. By offering benefits like off-chain computation, reduced costs, and enhanced security, ZK-Rollups are making Account Abstraction a more accessible and attractive option for developers and users alike. This powerful combination has the potential to revolutionize the way we interact with blockchain technology, fostering a future of secure, scalable, and user-friendly decentralized applications.

Read more:

Top 10 Amazing Ways ZK-Rollups Are Simplifying Account Abstraction In 2024 - Blockchain Magazine

Read More..

Rugged Servers Market Set for Remarkable Growth, Expected to Surpass US$ 945.5 Million by 2032 at 5.8% CAGR – openPR

The rugged servers market was estimated to be worth US$ 506.0 million in 2021 and is expected to grow by 6.5% year over year to reach US$ 539.0 million in 2022.

Demand is predicted to increase at a 5.8% value CAGR over the assessment period of 2022-2032, most likely reaching US$ 945.4 million by the conclusion of the forecast period.

Download a Sample Copy Of Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=7354

By integrating cutting-edge innovations, service providers can streamline operational expenses while maximizing returns on investment. Additionally, evolving compliance and governance standards are broadening the landscape for the rugged servers market. As nations navigate industry-specific regulations, undergo market consolidation, and embrace futuristic technologies, the global rugged servers market anticipates multifaceted transformations.

Rising expenditures within the IT and cloud services sector are set to drive global growth in the rugged servers market. Government backing for research and development, coupled with substantial investments in technological advancements, are expected to escalate the adoption of rugged servers. These developments are poised to propel the managed services market forward.

Key Companies Profiled: Dell Technologies Mercury Systems Siemens Core Systems Crystal Group

Extensive usage of rugged servers in military and aerospace, telecommunication, and Industries are some of the factors influencing the growth of the rugged server market in forecasting years. High digitalization in every sector boosts the growth of the market.

The rising importance of the mobile workforce and the need to access information anytime, anywhere has led enterprises to adopt rugged servers which in turn is boosting the growth of this market.

Increasing investment by the government for the development of the latest technologies to maintain their competitive edge over other companies has resulted in an increasing demand for rugged Servers which further fuels the growth of this market.

Read More: https://www.factmr.com/report/rugged-servers-market

Competitive Landscape:

The global market for rugged servers is characterized by the presence of multiple vendors, aiming to offer extensive consulting and integration services to clients. Additionally, enterprises are seeking out, specialized service providers, offering solutions tailor-made to suit their business objectives. In addition, the vendors are likely to leverage up-gradation to gain an edge over other competitors in the market.

In April 2022 Crystal Group, Inc., a leading designer, and manufacturer of rugged computer and electronic hardware announced its first VMware-validated configuration of virtualization-enabled servers. In collaboration with Intel and VMware, Crystal Group developed its VMware Validated Solution to consolidate the work of multiple discrete hardware solutions into a single, hyper-converged system. This software-agnostic, hyper-converged system combines real-time automation, remote management, cybersecurity, auto failover, and zero-trust security features for utilities as they pursue significant power grid modernization efforts.

In November 2021, Mercury Systems a leader in trusted, secure mission-critical technologies for aerospace and defense, completes the acquisition of Avalex Technologies. The acquisition is directly aligned with strategy and will enable the growing demand for digitally converged solutions in the C4I and platform/mission management markets.

Key Segments Covered in the Rugged Servers Market Study:

By Offering : o Hardware o Software & Services By Type : o Dedicated o Standard By Memory size : o 512GB-1TB o >1TB By Application : o Military and Aerospace o Telecommunication o Industrial Applications o Energy & Power o Marine Applications o Other Applications By Region : o North America o Europe o Asia Pacific o Middle East and Africa o Latin America

In conclusion, the rugged servers market is experiencing a significant surge in growth driven by increased spending in the IT and cloud services industry. Support from government initiatives for research and development, along with substantial investments in technological innovation, are key factors driving the adoption of rugged servers. This trend not only strengthens the rugged servers market but also provides traction to the managed services sector, indicating a promising outlook for both segments in the foreseeable future.

Contact: US Sales Office 11140 Rockville Pike Suite 400 Rockville, MD 20852 United States Tel: +1 (628) 251-1583, +353-1-4434-232 Email: sales@factmr.com

About Fact.MR We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

This release was published on openPR.

The rest is here:
Rugged Servers Market Set for Remarkable Growth, Expected to Surpass US$ 945.5 Million by 2032 at 5.8% CAGR - openPR

Read More..

OpenAI’s Sam Altman doesn’t care how much AGI will cost: Even if he spends $50 billion a year, some breakthroughs … – Fortune

If you had a chance to advance civilization and change the course of human history, could you put a price tag on it?

Sam Altman sure wouldnt. In his relentless pursuit to be the first to develop artificial general intelligence (AGI), the OpenAI boss believes any cost is justifiedeven as he refuses to predict how long that goal may take to achieve.

There is probably some more business-minded person than me at OpenAI somewhere worried about how much were spending, but I kinda dont, he told students at Stanford University this week, where he had been enrolled until dropping out after his sophomore year to launch a startup.

Whether we burn $500 million a year or $5 billionor $50 billion a yearI dont care, I genuinely dont, he continued. As long as we can figure out a way to pay the bills, were making AGI. Its going to be expensive.

AGI is widely considered to be the level at which AI is as capable at reasoning as an intelligent human, but the definition is vague. For example, Elon Musk is suing OpenAI, arguing it has already achieved AGI with GPT-4, the large language model that powers ChatGPT.

Cofounded by Altman, Musk, Greg Brockman, and Ilya Sutskever inDecember 2015, OpenAI has been at the forefront of the generative AI revolution and counts Microsoft as a major investor. The phrase ChatGPT moment, named after the late 2022 launch of its gen AI chatbot that became a wild commercial success, has come to mean a breakthrough in technology.

Altman pushed back against the characterization that ChatGPT is some phenomenal device, despite all the myriad accomplishments to its credit.

Thats nice of you to say, but ChatGPT is not phenomenal, he replied, calling it mildly embarrassing at best.

This evasive answer may have been more than self-depreciation, perhaps also an indication of just how far advanced OpenAIs current research projects are, which havent been commercially deployed. Before ChatGPT was launched, the system was optimized to be cost effective in terms of its compute cost.

Much newer tools likeSora, which can create brief ultrarealistic or stylized video clips using only text prompts, isnt ready for a market launch yet. Thats in part because while Sora is far more powerful, it is alsofar more expensive.

Altman believes in iterative deployment, arguing how important it is to ship early and allow society to inform companies like OpenAI what it collectivelyand people individuallywant from the technology.

If we go build AGI in a basement, and then the world is kind of blissfully walking blindfolded along, I dont think that makes us very good neighbors, he said.

The best way, in other words, to give leaders and institutions time to react, is to put the product in peoples hands and let society coevolve alongside ever more powerful AI tools.

That means we ship imperfect products, but we have a very tight feedback loop, and we learn and get better. It does kind of suck to ship a product youre embarrassed about, but it is much better than the alternative, he said.

In his costly pursuit to develop AGI, Altman said he was more worried about how quickly society would be able to adapt to the advances his company was achieving.

One thing weve learned is that AI and surprise dont go well together, he said. People want a gradual rollout and the ability to influence these systems.

Read more here:

OpenAI's Sam Altman doesn't care how much AGI will cost: Even if he spends $50 billion a year, some breakthroughs ... - Fortune

Read More..

Microsoft’s fear of Google’s AI dominance likely led to its OpenAI partnership, email shows – Quartz

Microsofts multi-year, multi-billion dollar partnership with OpenAI likely came out of a fear of Google dominating the AI race, an email shows.

Wegovy and Ozempic: Are we ready for weight loss drugs?

The heavily redacted email, released Tuesday as part of the Department of Justices antitrust case against Google, shows that Microsofts chief technology officer, Kevin Scott, was worried about the companys artificial intelligence capabilities compared to those of the search engine giant.

[A]s I dug in to try to understand where all of the capability gaps were between Google and us for model training, I got very, very worried, Scott wrote in a 2019 email to Microsoft chief executive Satya Nadella and co-founder Bill Gates.

Scott, who is also the executive vice president of AI, wrote that he had initially been highly dismissive of efforts by OpenAI, DeepMind (acquired by Google in 2014), and Google Brain to scale their AI ambitions, but started to take things more seriously after seeing Microsoft couldnt easily replicate the natural language processing (NLP) models the companies were building.

Even though we had the template for the model, it took us ~6 months to get the model trained because our infrastructure wasnt up to the task, Scott wrote about the BERT language model. In the time it took Microsoft to figure out how to train the model, Google, which already had BERT six months before Microsofts efforts started, had a year to figure out how to get it into production and to move on to larger scale, more interesting models, he wrote.

Scott added that auto-complete in Googles Gmail app is getting scarily good due to BERT-like models, which were boosting Googles competitiveness.

While Microsoft had very smart employees focused on machine learning on its different teams, the core deep learning teams within each of these bigger teams are very small and still had a long way to go before scaling up to Googles level, Scott wrote in the email, which had the subject line, Thoughts on OpenAI. [W]e are multiple years behind the competition in terms of ML scale.

Nadella responded to the email, copying Microsofts chief finance officer, Amy Hood, writing: Very good email that explains, why I want us to do this... and also why we will then ensure our infra folks execute.

Neither Microsoft, Google, nor OpenAI immediately responded to a request for comment.

In July 2019, Microsoft made its first investment into OpenAI of $1 billion to support the companys efforts to build artificial general intelligence (AGI). Through the partnership, OpenAI said Microsoft would become its exclusive cloud provider, and that the two would jointly develop Microsoft Azures AI supercomputing capabilities.

Read the original:

Microsoft's fear of Google's AI dominance likely led to its OpenAI partnership, email shows - Quartz

Read More..

The Future of Generative AI: Trends, Challenges, & Breakthroughs – eWeek

eWEEK content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

Quickly growing from a niche project in a few tech companies to a global phenomenon for business and professional users alike, generative AI is one of the hottest technology initiatives of the moment and wont be giving up its spotlight anytime soon.

Furthermore, generative AI is evolving at a stunningly rapid pace, enabling it to address a wide range of business use cases with increasing power and accuracy. Clearly, generative AI is restructuring the way organizations do and view their work.

With both established tech enterprises and smaller AI startups vying for the next generative AI breakthrough, future prospects for generative AI are changing as rapidly as the technology itself. For better understand its future, this guide provides a snapshot of generative AIs past and present, along with a deep dive into what the years ahead likely hold for generative AI.

Looking ahead, expect to see generative AI trends focused on three main pools: quick and sweeping technological advances, faster-than-expected digital transformations, and increasing emphasis on the societal and global impact of artificial intelligence. These specific predictions and growing trends are most likely on the horizon:

Multimodality the idea that a generative AI tool is designed to accept inputs and generate outputs in multiple formats is starting to become a top priority for consumers, and AI vendors are taking notice.

OpenAI was one of the first to provide multimodal model access to users through GPT-4, and Googles Gemini and Anthropics Claude 3 are some of the major models that have followed suit. So far though, most AI companies have not made multimodal models publicly available; even many who now offer multimodal models have significant limitations on possible inputs and outputs.

In the near future, multimodal generative AI is likely to become less of a unique selling point and more of a consumer expectation of generative AI models, at least in all paid LLM subscriptions.

Additionally, expect multimodal modeling itself to grow in complexity and accuracy to meet consumer demands for an all-in-one tool. This may look like improving the quality of image and non-text outputs or adding better capabilities and features for things like videos, file attachments (as Claude has already done), and internet search widgets (as Gemini has already done).

ChatGPT currently enables users to work with text (including code), voice, and image inputs and outputs, but there are no video input or output capabilities built into ChatGPT. This may change soon, as OpenAI is experimenting with Sora, its new text-to-video generation tool, and will likely embed some of its capabilities into ChatGPT as they have done with DALL-E.

Similarly, while Googles Gemini currently supports text, code, image, and voice inputs and outputs, there are major limitations on image possibilities, as the tool is currently unable to generate images with people. Google seems to be actively working on this limitation behind the scenes, leading me to believe that it will go away soon.

AI as a service is already growing in popularity across artificial intelligence and machine learning business use cases, but it is only just beginning to take off for generative AI.

However, as the adoption rate of generative AI technology continues to increase, many more businesses are going to start feeling the pain of falling behind their competitors. When this happens, the companies that are unable or unwilling to invest in the infrastructure to build their own AI models and internal AI teams will likely turn to consultants and managed services firms that specialize in generative AI and have experience with their industry or project type.

Specifically, watch as AI modeling as a service (AIMaaS) grows its market share. More AI companies are going to work toward public offerings of customizable, lightweight, and/or open-source models to extend their reach to new audiences. Generative AI-as-a-service initiatives may also focus heavily on the support framework businesses need to do generative AI well. This will naturally lead to more companies specializing and other companies investing in AI governance and AI security management services, for example.

Artificial general intelligence, which is the concept of AI reaching the point where it can outperform humans in most taskwork and critical thinking assignments, is a major buzzword among AI companies today, but so far, its little more than that.

Googles Deepmind is one of the leaders in defining and innovating in this area, along with OpenAI, Meta, Adept AI, and others. At this point, theres not much agreement on what AGI is, what it will look like, and how AI leaders will know if theyve reached the point of AGI or not.

So far, most of the research and work on AGI has happened in silos. In the future, AGI will continue to be an R&D priority, but much like other important tech and AI initiatives of the past, it will likely become more collaborative, if for no other reason than to develop a consistent definition and framework for the concept. While AI leaders may not achieve true AGI or anything close to it in the coming years, generative AI will continue to creep closer to this goal while AI companies work to more clearly define it.

To see a list of the leading generative AI apps, read our guide: Top 20 Generative AI Tools and Apps 2024

Most experts and tech leaders agree that generative AI is going to significantly change what the workforce and workplace look like, but theyre torn on whether this will be a net positive or net negative for the employees themselves.

In this early stage of workforce impact, generative AI is primarily supporting office workers with automation, AI-powered content and recommendations, analytics, and other resources to help them get through their more mundane and routine tasks. Though there is some skepticism both at the organizational and employee levels, new users continue to discover generative AIs ability to help them with work like drafting and sending emails, preparing reports, and creating interesting content for social media, all of which saves them time for higher-level strategic work.

Even with these more simplistic use cases, generative AI has already shown its nascent potential to completely change the way we work across industries, sectors, departments, and roles. Early predictions expected generative AI would mostly handle assembly line, manufacturing, and other physical labor work, but to this point, generative AI has made its most immediate and far-reaching impacts on creative, clerical, and customer service tasks and roles.

Workers such as marketers, salespeople, designers, developers, customer service agents, office managers, and assistants are already feeling the effects of this technological innovation and fear that they will eventually lose their jobs to generative AI. Indeed, most experts agree that these jobs and others will not look the same as they do now in just a couple of years. But there are mixed opinions about what the refactored workforce will look like for these people will their job simply change or will it be eliminated entirely?

With all of these unknowns and fears hanging in the air, workplaces and universities are currently working on offering coursework, generative AI certifications, and training programs for professional usage of AI and generative AI. Undergraduate and graduate programs of AI study are beginning to pop up, and in the coming months and years, this degree path may become as common as those in data science or computer science.

In March 2024, the EU AI Act that had been discussed and reviewed for several years was officially approved by the EU Parliament. Over the coming months and years, organizations that use AI in the EU or in connection with EU citizen data will be held to this new regulation and its stipulations.

This is the first major regulation to focus on generative AI and its impact on data privacy, but as consumer and societal concerns grow; dont expect it to be the last. There are already state regulations in California, Virginia, and Colorado, and several industries have their own frameworks and rules for how generative AI can be used.

On a global scale, the United Nations has begun to discuss the importance of AI governance, international collaboration and cooperation, and responsible AI development and deployment through established global frameworks. While its unlikely that this will turn into an enforceable global regulation, it is a significant conversation that will likely frame different countries and regions approaches to ethical AI and regulation.

With the regulations already in place and expected to come in the future, not to mention public demand, AI companies and the businesses that use this technology will soon invest more heavily in AI governance technologies, services, and policies, as well as security resources that directly address generative AI vulnerabilities.

A small number of companies are focused on improving their AI governance posture, but as AI usage and fears grow, this will become a greater necessity. Companies will begin to use dedicated AI governance and security platforms on a greater scale, human-in-the-loop AI model and content review will become the standard, and all companies that use generative AI in any capacity will operate with some kind of AI policy to protect against major liabilities and damage.

As governments, regulatory bodies, businesses, and users uncover dangerous, stolen, inaccurate, or otherwise poor results in the content created through generative AI, theyll continue to put pressure on AI companies to improve their data sourcing and training processes, output quality, and hallucination management strategies.

While an emphasis on quality outcomes is part of many AI companies current strategies, this approach and transparency with the public will only expand to help AI leaders maintain reputations and market share.

So what will generative AI quality management look like? Some of todays leaders are providing hints for the future.

For example, with each generation of its models, OpenAI has improved its accuracy and reduced the frequency of AI hallucinations. In addition to actually doing this work, theyve also provided detailed documentation and research data to show how their models are working and improving over time.

On a different note, Googles Gemini already has a fairly comprehensive feedback management system for users, where they can easily give a thumbs-up or thumbs-down with additional feedback sent to Google. They can also modify responses, report legal issues, and double-check generated content against internet sources with a simple click.

These features provide users with the assurance that their feedback matters, which is a win on all sides: Users feel good about the product and Google gets regular user-generated feedback about how their tool is performing.

In a matter of months, I expect to see more generative AI companies adopt this kind of approach for better community-driven quality assurance in generative AI.

Many companies are already embedding generative AI into their enterprise and customer-facing tools to improve internal workflows and external user experiences. This is most commonly happening with established generative AI models, like GPT-3.5 and GPT-4, which are frequently getting embedded as-is or are being incorporated into users preexisting apps, websites, and chatbots.

Expect to see this embedded generative AI approach as an almost-universal part of online experience management in the coming years. Customers will come to expect that generative AI is a core part of their search experiences and will deprioritize the tools that cannot provide tailored answers and recommendations as they research, shop, and plan experiences for themselves.

For an in-depth comparison of two leading AI art generators, see our guide: Midjourney vs. Dall-E: Best AI Image Generator 2024

With how much has happened in the world of generative AI, its hard to believe that most people werent talking about this technology until OpenAI first launched ChatGPT in November 2022. Many of generative AIs greatest milestones were reached in 2023, as OpenAI and other hopeful AI startups not to mention leading cloud companies and other technology companies raced to develop the highest-quality models and the most compelling use cases for the technology.

Below, weve quickly summarized some of generative AIs biggest developments in 2023, looking both at significant technological advancements and societal impacts:

The generative AI landscape has transformed significantly over the past several months, and its poised to continue at this rapid pace. What weve covered below is a snapshot of whats happening with generative AI in early 2024; expect many of these details to shift or change soon, as that has been the nature of the generative AI landscape so far.

Though it has not been widely adopted in many industries, generative AI continues to build its reputation and gain important footholds with both professional and recreational user bases. These are some of the main ways generative AI is being used today:

To learn about todays top generative AI tools for the video market, see our guide:5 Best AI Video Generators

According to Forresters December 2023 Consumer Pulse Survey results, only 29% agreed that they would trust information from gen AI and 45% of online adults agreed that gen AI poses a serious threat to society. In the same results, though, 50% believed that this technology could also help them to find the information they need more effectively.

Clearly, public sentiment on generative AI is currently very mixed. In North America, in particular, theres excitement and interest in the technology, with more users experimenting with generative AI tools than in most other parts of the globe. However, even among those with enthusiasm for generative AI, there is a general caution about data security, ethics, and the general trust gap that comes with a lack of transparency, misuse and abuse possibilities like deepfakes, and fears about future job security.

To earn consumer trust, more ethical AI measures must be taken at the regulatory and company levels. The EU AI Act, which recently passed into law, is a great step in this direction, as it specifies banned apps and use cases, obligations for high-risk systems, transparency obligations, and more to ensure private data is protected. However, it is also the responsibility of AI companies and businesses that use AI to be transparent, ethical, and responsible beyond what this regulation requires.

Taking steps toward more ethical AI will not only bolster their reputation and customer base but also put in place safeguards to prevent harmful AI from taking over in the future.

To learn more about the issues and challenges around generative AI, read our guide: Generative AI Ethics: Concerns and Solutions

Generative AI is clearly here to stay, regardless of whether your business chooses to incorporate this technology. The key to working with generative AI without letting it overrun your business priorities is to go in with well-defined effective AI strategies and clear-cut goals for using AI in a beneficial way. Some of these strategies may help:

This strategy should explain what technologies can be used, who can use them, how they can be used, and more. Keep strategies and policies both flexible and iterative as technologies, priorities, and regulations change.

At the rate generative AI innovation is moving, theres little doubt that existing jobs will be uprooted or transformed entirely. To support your workforce and ease some of this stress, be the type of employer that offers upskilling and training resources that will help staffers and your company in the long run.

If youre in a position of power or influence, consider doing work to mitigate the increasing global inequities that are likely to come from widespread generative AI adoption.

Partner with firms in developing countries, work toward generative AI innovations that benefit people and the planet, and support multilingual solutions and data training that are globally unbiased.

In general, partnering with leaders in other countries and organizations will lead to better technology and outcomes for all.

Especially in the pursuit of AGI, be cautious about how you use generative AI and how these tools interact with your data and intellectual property. While generative AI has massive positive potential, the same can be said for its potential to do harm. Pay attention to how generative AI innovations are transpiring and dont be afraid to hold AI companies accountable for a more responsible AI approach.

Generative AI has already proven its remarkable potential to reshape industries, economies, and societies even more than initially thought. Research firms and technology companies are continually adjusting their predictions for the future of generative AI, realizing that the technology may be able to take on more of the physical taskwork and cognitive work that human workers do and by a much earlier date than previously assumed.

But with this incredible technological development should come a heavy dose of caution and careful planning. Generative AI developers and users alike must consider the ethical implications of this technology and continue to do the work to keep it transparent, explainable, and aligned with public preferences and opinions for how this technology should be used. They must also consider some of the more far-reaching consequences such as greater global disparities between the rich and the poor and more damage to the environment and look for creative ways to create generative AI that truly does more good than harm.

So whats the best way forward toward a hopeful future for generative AI? Collaboration. AI leaders, users, and skeptics from all over the globe, different lines of work, and different areas of expertise must collaboratively navigate the challenges and opportunities presented by generative AI to ensure a future that benefits all.

For more information about generative AI providers, read our in-depth guide: Generative AI Companies: Top 20 Leaders

More here:

The Future of Generative AI: Trends, Challenges, & Breakthroughs - eWeek

Read More..