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Avalanche’s 0.21% Price Increase to $10.12: Key Takeaways for … – BTC Peers

August 28, 2023 | Author: admin

Avalanche, a leading smart contracts platform, saw a slight 0.21% price gain over the past hour to $10.12. While a minor recovery, this continues a stabilization in AVAX from recent lows. Analyzing key Avalanche market data from August 26, 2023 reveals several insights:

Over the past 24 hours, Avalanche's price edged up 0.59% after a week of substantial declines totaling 6.35%. Trading volume over the past day amounted to $54.12 million, indicating ongoing market interest in AVAX. Zooming out further, Avalanche has plunged 23.98% over the past month as the broader altcoin market corrected. Even more concerning, AVAX remains down 43.58% in the past 6 months - significantly underperforming top cryptos like Ethereum and Solana over this timeframe.

Avalanche's market capitalization currently stands at $3.57 billion, cementing its place as a top 15 cryptocurrency. As an Ethereum competitor focusing on speed, low costs and scalability, Avalanche had seen its ecosystem grow rapidly earlier in 2022 before collapsing. Questions remain about whether AVAX can retain developers and users as competition intensifies.

Analyzing Avalanche's price chart, it found support near $8 after peaking above $140 in late 2021. Moving forward, if AVAX can reclaim overhead resistance around $15, a relief rally back toward its 2022 highs near $30 could materialize. However, its technical posture remains vulnerable overall.

On the downside, key support levels to watch include the 2022 lows around $8. Failure to hold could open the door to a decline toward $5. As long as AVAX holds recent lows, conditions favor a bottoming process playing out. But its relative weakness is concerning.

Overall, Avalanche faces challenges retaining its competitive position as a top smart contract platform. While AVAX could see short squeezes and relief bounces, its long-term narrative remains cloudy until clear signs of renewed developer and user adoption emerge.

With Avalanche badly lagging the broader crypto market in 2022, investors may wonder if its severe capitulation presents a buying opportunity. There are arguments on both sides:

On the bullish side, AVAX appears deeply oversold technically and quite depressed relative to its 2021 highs above $140. Value hunters may start accumulating at current levels.

However, AVAX could continue underperforming if Ethereum maintains its dominance in DeFi and NFTs. Avalanche also faces stiff competition from Solana, Polkadot and others. Its declining network effects are worrying.

Overall, while oversold bounces are likely, it may be prudent to wait for definitive signs of an Avalanche ecosystem revival before allocating significant capital. The opportunity cost of investing in laggards over outperformers is quite high in crypto.

As a high-growth crypto asset, Avalanche will likely struggle to regain its former support levels and network effects amid a risk-off macro environment. When sentiment improves, AVAX could revive - but now faces much fiercer competition for developer mindshare.

In the near-term, macro weakness combined with questions about Avalanche's long-term viability may continue weighing on its price and user growth. However, its backers remain committed to incremental improvements while refining its value proposition.

In summary, Avalanche faces strong headwinds on multiple fronts currently. A sustained turnaround would likely require both a resurgent crypto bull market and tangible tech/adoption advances. Until clear catalysts emerge, caution around AVAX is warranted based on its recent breakdowns.

Avalanche's 0.21% Price Increase to $10.12: Key Takeaways for ... - BTC Peers

US: the proposal to do a regulation of taxes on crypto – The Cryptonomist

August 28, 2023 | Author: admin

In a move that has rippled across the digital landscape, the US Department of the Treasury recently unveiled new regulations affecting crypto taxes.

However, instead of being applauded, the proposal was met with a chorus of disapproval from the cryptocurrency industry.

The objections stem mainly from concerns about the plans potential to include decentralized operations, which are critical to the ethics and operations of the industry.

As the proposal enters a public comment and hearing stage, it is clear that the road ahead for these tax rules will be fraught with challenges.

Almost immediately after the proposal was published, the crypto community took to X (formerly Twitter) to express its discontent.

The most significant point of contention concerns tax reporting requirements, which many in the industry say could inadvertently trap decentralized cryptocurrency operations.

These decentralized entities, often considered brokers, facilitate transactions and services by upholding the principles of decentralization and user autonomy.

One of the loudest voices of dissent came from Miller Whitehouse-Levine, CEO of a decentralized finance (DeFi) lobby group.

He criticized the overly broad language of the proposal, which seems to encompass a wide range of entities, including those managing self-hosted wallets.

Whitehouse-Levine pointed to the paradoxical nature of the proposals position on realization of transfers, questioning whether the meaning of the term has been distorted to fit the scope of the crypto regulations.

Critics also pointed out that prominent players in the decentralized ecosystem, such as wallet providers like MetaMask and decentralized exchanges like Uniswap, might inadvertently fall under the reporting requirements.

In addition, smart contracts with multiple-signature security mechanisms could be subject to new customer knowledge rules (KYC), significantly altering the nature of these platforms.

Congressman Patrick McHenry (R.C.), who chairs the House Financial Services Committee, also spoke on the issue.

While acknowledging some positive aspects of the proposal, including the effective date and exemptions, he pointed out substantive areas where the US crypto regulation was lacking.

He stressed the need for narrow, targeted and clear regulation in line with Congress intentions, especially considering the unique nature of the cryptocurrency ecosystem.

Kristin Smith, CEO of the Blockchain Association, echoed these sentiments, saying that proposed regulations must take into account the distinctive characteristics of the cryptocurrency landscape.

She stressed the importance of not wiping out ecosystem participants who do not have a viable path to compliance.

Smith also acknowledged the flip side of the debate: the possibility that the proposed rules would provide clarity and accessibility to the masses of cryptocurrency investors, thereby removing a significant barrier to entry into the world of digital assets.

Smiths perspective alludes to the idea that, if executed judiciously, these rules could bridge the gap between tax compliance and the cryptocurrency industry.

By providing clear guidelines for everyday cryptocurrency users, the rules could demystify tax obligations and facilitate smoother participation in digital asset markets.

Stakeholders in the cryptocurrency industry have until 30 October to express their concerns and criticisms to Treasury and the Internal Revenue Service.

After this period, public hearings are scheduled for 7 and 8 November, during which the authors of the proposal encourage input and suggestions from the cryptocurrency industry.

This willingness to engage with industry could potentially lead to more refined regulations that strike a better balance between oversight and innovation.

Among the various criticisms, one positive aspect emerged for the cryptocurrency mining community. The proposal specifically excluded cryptocurrency mining operations, alleviating concerns that arose with the introduction of the fiscal rules of the 2021 Infrastructure Act.

This exclusion reflects a level of understanding of different activities within the broader cryptocurrency realm and is a step toward more nuanced regulation.

As the dust settles after the initial wave of objections, it is clear that the road ahead for the US Treasury Departments cryptocurrency tax proposal will be paved with intense discussions and negotiations.

Finding the right balance between regulatory oversight and preserving the innovative spirit of the cryptocurrency industry will be the ultimate challenge.

As stakeholders on both sides of the debate come together to refine these regulations, the outcome will shape the future of the relationship between the US government and the cryptocurrency world.

What is a Bitcoin Contract Address? – Bitcoinsensus

August 28, 2023 | Author: admin

Bitcoin, the pioneering cryptocurrency, has seen tremendous growth in recent years. Along with its increasing adoption, the ecosystem around it has evolved, giving rise to concepts like the Bitcoin Contract Address.

In this comprehensive guide, we will be breaking down what a Bitcoin Contract Address is, its significance, how it operates, and all you need to know to own one.

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The Bitcoin Contract Address is not a native aspect of Bitcoin itself. Instead, they are smart contracts built and crafted to interact with the Bitcoin blockchain.

A Bitcoin contract address works very similarly to an email address. How?

Essentially, these contract addresses represent the specific location where the Bitcoin contract resides on a blockchain.

In the context of smart contracts, Bitcoin Contract Addresses act as the unique identifier that users can interact with. They are integral to:

These addresses are the point of interaction for users and other contracts. They enable the seamless execution of automated, self-enforcing agreements with the terms directly written into code.

Without these unique identifiers, there would be no standard way to specify which contract to interact with on the blockchain, potentially causing confusion and errors.

Bitcoin Contract Addresses ensure that transactions are conducted securely and transparently. They allow parties to trust the code rather than each other.

The public can verify that transactions are executed as programmed without the intervention of a third party, reducing the risk of fraud or manipulation.

They serve as an immutable record of the contracts existence and terms. Once a contract is deployed, its address and the rules it enforces are permanent and cant be altered, providing a transparent and reliable history of all contract interactions and transactions.

Creating a Bitcoin Contract Address involves a process that is intricate and demands a high level of cryptographic knowledge.

Heres a detailed, step-by-step guide:

Begin with writing the contract using a programming language like Solidity or Vyper. This involves defining the rules and operations that your contract will enforce.

Once the code writing is completed, the contract must be compiled into bytecode. This is a machine-readable format that the blockchain can interpret and execute.

It is a crucial step, turning your human-readable contract into something that the blockchain can understand.

Post compilation, the contract is deployed onto the Bitcoin blockchain. This is done through a special transaction that does not have a recipient address.

This transaction includes the compiled bytecode and initiates the contract on the blockchain, essentially giving it life.

After the contract is deployed, the blockchain will generate a unique address for it. This is your Bitcoin Contract Address.

It is through this address that you and others can interact with your smart contract, similar to how one might interact with a bank account using an account number.

Bitcoin Contract Addresses are highly secure due to the cryptographic nature of blockchains. However, it is vital to:

Loss of the key means loss of control over the contract. This is analogous to losing the key to a safe deposit box; without the key, you cant access the contents inside.

Before deploying, an audit is essential to avoid vulnerabilities. Smart contracts are immutable once deployed, which means that any flaw or bug in the code is permanent.

A thorough audit by an experienced developer or a third-party service is essential to ensure that the contract is secure and functions as intended.

To interact with a Bitcoin Contract Address, you would generally use a wallet that supports smart contract interaction. Heres how:

In your wallet, there will be an option to interact with a contract. Here, input the Bitcoin Contract Address. This tells the wallet which contract you want to engage with, similar to entering a website URL into your browser.

Contracts have predefined functions. Call the function you wish to engage with and provide the necessary parameters. This is the same as filling out a form on a website, specifying what action you want the website to take.

After setting your desired parameters, you will need to confirm the transaction and pay the associated fee. This fee, often called gas, compensates miners for validating and confirming your transaction.

It is a crucial aspect of the decentralized nature of blockchains, incentivizing individuals or entities to contribute their computing power to maintain the network.

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Bitcoin Contract Addresses are not just theoretical constructs; they have pragmatic applications:

As the realm of Bitcoin continues to expand, so does the potential of Bitcoin Contract Addresses. They are likely to play an increasingly pivotal role in:

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The concept of a Bitcoin Contract Address is at the core of integrating programmability and complex logic into Bitcoin transactions. As we progress into a future where blockchain technology becomes increasingly ingrained into our daily lives, understanding and utilizing these contract addresses will likely become ever more important.

In this guide, we have endeavored to cover the multifaceted aspects of Bitcoin Contract Addresses. They are more than just a string of numbers and letters; they are the gateway to a new world of decentralized and transparent interaction on the Bitcoin blockchain.

Whether you are a developer, an investor, or just a curious individual, grasping the concept of Bitcoin Contract Addresses is essential as we move forward into this new digital age.

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What is a Bitcoin Contract Address? - Bitcoinsensus

Recursive inscriptions: Bitcoin ‘supercomputer’ and BTC DeFi … – Cointelegraph

August 28, 2023 | Author: admin

Earlier this year, Ordinals a unique inscription on the smallest unit of a Bitcoin, called a Satoshi emerged as a controversial new development. Dismissed by some as spam and embraced by others as a way to bring BRC-20 tokens and NFTs to Bitcoin, the technology stimulated a flurry of developments.

Now there is excitement around recursive inscriptions, which is a very confusing yet potentially much more powerful development. Recursive Inscriptions essentially promise to allow more complex functionality to be built on Bitcoins blockchain, akin to smart contracts on Ethereum.

Some believe recursive inscriptions could see Ordinals develop from NFTs and digital artifacts to underpin a full-blown DeFi ecosystem on Bitcoin very soon. Others are confident it will enable Bitcoin to take on decentralized storage provider IFPS. One person Magazine spoke to believes it will eventually lead to an interconnected supercomputer being built on-chain.

Danny Yang, a Stanford PhD, creator of OCM Dimensions and Bitcoiner since 2013, says recursive inscriptions unlock the next evolution of Bitcoin:

People wont believe it when its presented to them now. Its not going to operate exactly like Uniswap, but other high-value digital assets will emerge on Bitcoin. Thats what Ordinals and recursive inscriptions will evolve into. They will become a new form of programmable assets and code.

These tech developments while at a very early and speculative stage are making Bitcoin interesting again. A Bitcoin maxi friend complained to me that I never write about Bitcoin. In truth, theres been very little new to write about until recently.

Thats pretty true, Yang agrees.

Yang has worked on recursive inscriptions since February in the form of Bitcoin generative NFT collections OCM Dimensions and OCM Genesis. He inscribed both of those innovative collections on Bitcoin in February (along with compression and 3D programming libraries) before anyone understood the significance of what he had done.

Yet OCM Dimensions was only publicly launched on June 15, the day that recursive inscription support was turned on for Ordinals.com. Yang explains to Magazine:

You have to show something before people start listening, and finally, after months of beating the drums about the significance of recursive inscriptions on Bitcoin, people are starting to get it after we showed what was possible with OCM Dimensions the first 3D, high resolution, animated and interactive work on Bitcoin.

For now, the smart contract-enabled Ethereum blockchain is the home of more developer activity than anywhere else, and it dominates the DeFi sector. Until this year, the idea of building a genuine smart contract the self-executing code used as building blocks for programmable money ecosystems was not possible on Bitcoin.

But some now say Ordinals and recursive inscriptions could see a DeFi ecosystem emerge on Bitcoin fairly soon. Its not going to be easy, though.

Ordinals allow you to uniquely identify a satoshi or a sat. A satoshi is 100 millionth of a Bitcoin. Identifying a fractionalized part of a Bitcoin means creating NFTs on Bitcoin or creating a provenance certificate on-chain is now possible. The idea of NFTs on Bitcoin, the most decentralized OG chain, is tantalizing for some.

In January 2023, developer Casey Rodarmor released the Ordinals protocol, creating Bitcoin NFTs on the Bitcoin blockchain. Rodarmor found an unintended loophole in the taproot scripts that command lines of Bitcoin code.

The Ordinals protocol creator argues that such NFTs are now complete, as the token and related images are stored on the Bitcoin blockchain rather than side chains or using off-chain storage systems like most Ethereum NFTs. Digital artifacts on Bitcoin are truly immutable.

Now you can own the actual art, not just a contract that points at a piece of art stored on centralized databases, says Carlo Fox, an Ordinals OG since February who created the Nakamoto Whales series. NFTs, as we know them on Ethereum and on other chains, are more like digital ownership certificates than actual on-chain art, and Ordinals change that.

I got super excited for Ordinals for a few reasons: for one, we now can create and own on-chain art that is truly immutable. When you understand the ramifications of this, its huge. Half the time, NFTs as we know them are stored on AWS, centralized, and controlled by creators who can turn your art into pictures of turds at any time.

Ordinals allow you to store any type of data on the most decentralized blockchain, and no one can modify it. Ordinal artifacts may be most likely of any on-chain data to exist 2,000 years from now. Thats meaningful, and I think it is particularly relevant when in the context of important works of art, literature and science. I believe that Ordinals will become the premiere destination for the most coveted and important on-chain art. Its akin to carving a statue out of gold, says Fox.

So the business case for high-value NFTs minted on Bitcoin makes sense. Using the new tech to create cool 3D art for OCM Dimensions helped Yangs company Metagood sell the idea of launching tokens on Bitcoin Ordinals to Asprey Studios and the Italian car company Bugatti recently.

But OG Ordinals could only hold 4MB of data, and that is one reason why recursive inscriptions have emerged.

At its most basic recursive inscriptions let you record stuff associated with a particular Bitcoin and enable smart contract-type functionality Yang says they could have been called programmable inscriptions. By interlinking data through a series of calls (a contract for a sell order, for example), its possible to extract that data to run more complex processes anchored on Bitcoin blocks.

This enables recursive inscriptions to function like a distributed data repository, like putting AWS cloud on Bitcoin.

Composability getting disparate projects and protocols to work together seamlessly is an important part of crypto and one of the main reasons behind the exponential growth of the Ethereum DApp ecosystem.

Recursive inscriptions mean that even the most complex data sets, like video files and audio files, could now technically be hosted on Bitcoin. With a one-time cost to inscribe, data could be hosted forever on the most immutable and decentralized network in the world.

Inscriptions are like data legos, enabling data to be taken from somewhere else and built upon. In computer science, thats where the phrase recursive comes from, as recursive inscriptions are a mechanism that extracts data from existing inscriptions and utilizes that data within new inscriptions.

Recursion is a fully on-chain process that uses scripts to combine various other on-chain data sources. These can include image layers, audio, code or other data sources. Individual scripts of code merge these layers together through recursion.

Recursive inscriptions use data inscribed elsewhere on new inscriptions, cutting down on storage requirements.

Fox uses the example of PFP art. Instead of uploading thousands of unique images (which can be prohibitively expensive), you can upload 200 and use scripts to combine them via the fully on-chain recursion process. The possibilities this offers are only just being explored.

This is powerful because recursive inscriptions enable new types of applications that were not possible before it. Applications like on-chain AI couldnt be done on the base layer of Ethereum, but NewBitcoinCity builder Punk 3700 believes they could now be done on Bitcoin. Hes been playing around with Perceptrons, an early on-chain AI experiment on Bitcoin.

He explains that it wasnt possible to store the AI neural net models on-chain together with the artworks. So we split the AI models into different inscriptions and compose them at runtime.

One of the most fascinating elements of recursive inscriptions is that once the data is on the blockchain once, you can simply refer to it again and again, vastly cutting down storage costs and block space utilization.

Inscriptions are now reusable, explains Punk 3700, You can inscribe a very large code library like p5.js once, and other developers can reference that p5.js library at run time without inscribing it again.

This is super exciting because we start seeing a community-driven public infrastructure being built out. This means more complex inscriptions are being created at a fraction of the cost.

Essentially, any type of data can be an inscription. The most rudimentary use case combines multiple data sources together, and every piece of it can live on-chain. On-chain data might be able to communicate with each other, and data could be realized over time.

Fox explains further: The best way to think of it is anything you can do locally on a computer and have all little pieces live together in different files and work together.

He gives examples like open-source libraries, all on-chain, meaning important research papers on Bitcoin, with citations on recursions on-chain, meaning major discoveries can be published on Bitcoin blocks for time immemorial. Javascript packages can be inscribed on Bitcoin. Essentially, a tiny internet thats developed to live on Bitcoin cant be taken down, building and building until one day it has created an interconnected supercomputer living on Bitcoin.

The public hasnt grasped the significance of these developments, says Fox.

Long before the supercomputer cranks up, were likely to see Bitcoin DeFi and the chain emerge as a data storage competitor.

Toby Lewis co-founded OrdinalsBot, which automates inscriptions to help expedite development on Ordinals. He thinks that, for now, competing with the Web3 data storage provider IPFS is the best use case for recursive inscriptions. In the short term, both high-end and low-end NFTs can now be more affordably held on-chain.

The end point of storing data onto Bitcoin will get people excited. Thats because Bitcoin has better name recognition than IPFS [] Bitcoin becomes the ultimate store of truth.

Decentralized data storage on Bitcoin could disrupt NFT culture by allowing images, text files and audio files to be stored directly with tokens.

Lewis also thinks DeFi on Bitcoin is just becoming a realistic prospect now and that Bitcoin-native DeFi products are inevitable, even if they will be rudimentary for a while.

There is likely a large segment of users who will want to build and do something on Bitcoin, especially if the end state is a multichain ecosystem, posits Lewis. That is, use Bitcoins blockchain as the layer-1 base, and use Ordinals and recursive inscriptions to connect to other applications.

DEXs and automated market makers are starting to emerge. Lewis notes that Bitcoin can link up to other layer-2 applications as another way for smart contracts to emerge on Bitcoin.

This is the kind of DeFi that Punk 3700 has been building on Bitcoin. He launched a new protocol called Trustless Computer that enables writing smart contracts and building DApps on Bitcoin.

If Ethereum and Bitcoin have a baby, thats Trustless Computer.

One of the first DeFi protocols it deployed was a Uniswap fork.

Now that you could write smart contracts on Bitcoin, it turned out that building an AMM DEX was very simple. It took us just a couple of days. A month after deploying Uniswap on Bitcoin, Punk 3700 connected it to Ethereum layer-2 network Optimism and says it can trade with two-second latency and low transaction fees.

We now have a scalable infrastructure for DeFi to thrive on Bitcoin.

Bitcoin maximalists arent going to like the use of Ethereum protocols in conjunction with Bitcoin, but Punk 3700 says its the future.

This is the power of having a general-purpose programming language (Solidity) and a general-purpose virtual machine on Bitcoin. Developers can build any kinds of applications they want for Bitcoin.

Bitcoin is now no longer just a currency. It is becoming a DApp store.

At present, these use cases for recursive inscriptions and smart contracts on Bitcoin are highly speculative, and many Bitcoiners would no doubt argue abstracting it away on layer 2s means its no longer really Bitcoin at all.

But Leonidas, the founder of Ordinals marketplace Ord.io, is very excited about the new Web3 experiments on the Bitcoin layer 1 as well. He believes that the release of the Ordinals protocol earlier this year ended a long period of stagnation for the chain. Hes seeing a whole new wave of developers flood into the Bitcoin ecosystem, who are eager to build everything from NFT marketplaces to DeFi protocols.

I think people will be pleasantly surprised with how much you can actually do on Bitcoin layer 1, he says.

The issue was never that Bitcoin as a technology wasnt capable of handling Web3 use cases; its that a culture of toxic maximalism had driven the most talented developers to other ecosystems where they would be celebrated for their innovations rather than harassed.

Leonidas firmly believes that through Ordinals, Bitcoin has entered a new era where developers rather than idealists will dictate its future, and he is optimistic that Bitcoins brightest days lay ahead.

The most engaging reads in blockchain. Delivered once a week.

Max Parasol is a RMIT Blockchain Innovation Hub researcher. He has worked as a lawyer, in private equity and was part of an early-stage crypto start up that was overly ambitious.

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Recursive inscriptions: Bitcoin 'supercomputer' and BTC DeFi ... - Cointelegraph

Using AI technologies for effective document processing … – Data Science Central

August 26, 2023 | Author: admin

Ever-growing volumes of unstructured data stored in countless document formats significantly complicate data processing and timely access to relevant information for organizations. Without proper optimization of data management workflows, its difficult to talk about business growth and scaling. That is why progressive companies opt for intelligent document processing powered by artificial intelligence.

Despite the fact that digitalization has been a top priority for businesses in recent years, companies still spend millions of dollars on manual document processing. According to statistics, about 80% of the data generated by organizations is unstructured. Moreover, this extends to various document formats, including spreadsheets, PDFs, images, etc., which require different approaches to processing this data.

Manual data processing approaches are not only subject to errors but they also could lead to losing important documents, problems with version control, and various legal and regulatory risks. Incorporating AI technologies into the data processing workflow can help to reduce these challenges. AI app development allows for the automation of the classification and extraction of unstructured and semi-structured data with a high level of accuracy.

There are several options for implementing artificial intelligence for document processing that meet different business goals, made possible by AIs ability to find hidden patterns beyond the reach of the human eye.

Traditional Optical Character Recognition (OCR) systems that are usually used for automated data extraction are template-based and require extensive supervision. While this is an acceptable option for highly structured documents like spreadsheets, problems arise when it comes to files with high variability like invoices, receipts, etc. The implementation of machine learning algorithms allows you to significantly expand the capabilities of OCR and provide more flexibility.

Any OCR algorithm includes three basic steps: image processing, text detection, and text recognition. The introduction of machine learning for the last two steps allows you to significantly improve the output. The end result of processing a file using machine learning OCR is converting the document into structured data for easy processing in your database. Since the accuracy of results with traditional OCR depends a lot on the quality of the original document, ML models could also help with solving this issue.

For instance, ML could help to increase the quality of images by applying denoising algorithms or binarization of the images and other approaches that will be the most suitable for resolving the problem of low quality images.

With machine learning, you can teach the model to associate various shapes with a specific symbol for greater accuracy. Such OCR systems can effectively process more complex data, for example, if you are dealing with blueprints and engineering drawings recognition. Also, machine learning can provide a more complete analysis, because it can analyze not only a certain part of the document but also the entire context.

Integration and customization of ready-made software such as OpenCV and Tesseract OCR allow you to create a solution that will meet all your specific needs. ML-based OCR systems help companies avoid mistakes that result in the loss of important data points and greatly facilitate the process of data management. Also, it significantly saves human resources because machine learning requires less human intervention over time. But it still is great if the data recognized by AI is validated by humans from time to time in order to highlight problem spots of recognition and retrain models on new updated data.

Before going to data extraction we need to understand the kind of data we are working on. Thats where natural language processing (NLP) comes to the rescue. Unlike simple rule-based software that can extract information based on strictly defined keywords or tags, NLP is more flexible and can interpret information based on intent and meaning, and thus properly consider changes and options in documents.

One of the basic tasks of NLP is Named Entity Recognition, i.e. identifying named entity mentions within unstructured data and classifying them into predefined categories (names, locations, amounts, etc.). Statistical NER systems usually require a large amount of manually tagged training data, but semi-supervised approaches can reduce this effort. For example, sometimes its sufficient to use out-of-the-box NLP packages that include pre-trained machine learning models and dont require additional data for training. If this is not enough for acceptable results and the business uses specific naming, it will be necessary to label additional entities and retrain the NLP model on the updated dataset.

Text Classification helps to categorize text according to its content. For example, it can be used to classify and assign a set of pre-defined tags or categories to medical reports or insurance claims depending on different criteria. Or you can use classification to prioritize customer requests for a customer support team by ranking them by urgency.

Sentiment Analysis is a way to use natural language processing (NLP) methods to identify and extract peoples opinions, attitudes, and emotions from text. It is a common task in NLP. It allows you to define the thoughts and emotions of customers about your products and services from reviews, survey responses, and social media comments. To determine the opinion, the system is usually guided by keywords. For example, like or love signal a positive statement, and do not, not or hate a negative one. However, its also worth considering the special types of language constructions, because sometimes not and never can have the opposite meaning (for example, not bad). Also, difficulties can arise with slang. For example, the word sick can have both a negative and a positive connotation. Nowadays, it is completely possible to handle these tasks with more advanced deep learning models that are able to understand context from the written text and identify the emotions with a minimum of mistakes.

The accuracy of document processing with NLP depends on many factors, including variation, style, and complexity of the language used, the quality of training data, document size (sometimes large documents are better because they provide more context), number of classes and types of entity, and many more. Each case is unique and requires a customized solution that can be provided by experienced machine learning consultants.

Deciding to integrate AI-powered document processing into your workflow, youll face two options: complete automation and semi-automation with human supervision. The first case is possible if your business processes are logical and repetitive. If theres any chance of variability that can impact the decision-making, its better to opt for semi-automation where the human has the final word.

The creation of an AI product like an intelligent document processing system consists of the following stages:

Different cases require different solutions and the use of AI is not always justified. That is why its important to clearly understand exactly what results you want to get from the automation of document processing and to consult with specialists about the means of achieving these goals.

Consulting with software developers will help you choose the best tools to implement your idea. It can be both the customization of ready-made platforms and the development of completely new solutions if the specifics of your project require it.

To train models, it is important to have accurate, relevant, and comprehensive data. You can have your own databases or find open-source datasets, as well as use web scraping tools. Then, if necessary, the data is cleaned and processed by removing errors, formatting, and handling missing values.

Once the development team has the data they need, they can build and train the models, as well as improve them. The critical point for business owners in this process is finding a reliable development partner who has the necessary expertise and is able to match business needs with technology capabilities. With real experts on your side, you will be able to implement intelligent document processing without additional complications and personally experience the benefits of using AI to optimize business processes.

Excerpt from:
Using AI technologies for effective document processing ... - Data Science Central

Best use cases of t-SNE 2023 part2(Machine Learning) – Medium

August 26, 2023 | Author: admin

Photo by Christopher Burns on Unsplash

Author : Okan Dzyel

Abstract : The quality of GAN-generated images on the MNIST dataset was explored in this paper by comparing them to the original images using t-distributed stochastic neighbor embedding (t- SNE) visualization. A GAN was trained with the dataset to generate images and the result of generating all synthetic images, the corresponding labels were saved. The dimensionality of the generated images and the original MNIST dataset was reduced using t-SNE and the resulting embeddings were plotted. The rate of the GAN-generated images was examined by comparing the t-SNE plots of the generated images and the original MNIST images. It was found that the GAN- generated images were similar to the original images but had some differences in the distribution of the features. It is believed that this study provides a useful evaluation method for assessing the quality of GAN-generated images and can help to improve their generation in the future.

2.Revised Conditional t-SNE: Looking Beyond the Nearest Neighbors (arXiv)

Author : Edith Heiter, Bo Kang, Ruth Seurinck, Jefrey Lijffijt

Abstract : Conditional t-SNE (ct-SNE) is a recent extension to t-SNE that allows removal of known cluster information from the embedding, to obtain a visualization revealing structure beyond label information. This is useful, for example, when one wants to factor out unwanted differences between a set of classes. We show that ct-SNE fails in many realistic settings, namely if the data is well clustered over the labels in the original high-dimensional space. We introduce a revised method by conditioning the high-dimensional similarities instead of the low-dimensional similarities and storing within- and across-label nearest neighbors separately. This also enables the use of recently proposed speedups for t-SNE, improving the scalability. From experiments on synthetic data, we find that our proposed method resolves the considered problems and improves the embedding quality. On real data containing batch effects, the expected improvement is not always there. We argue revised ct-SNE is preferable overall, given its improved scalability. The results also highlight new open questions, such as how to handle distance variations between clusters

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Best use cases of t-SNE 2023 part2(Machine Learning) - Medium

The Dawn of Intelligence – Embracing AI’s Rise and What It Means … – TechiExpert.com

August 26, 2023 | Author: admin

In the rapidly evolving world of today, starkly different from its state two decades ago, the digital landscape reigns supreme. Now, brace yourself for a new epoch on the horizon the era of heightened intelligence. This is not a mere fantasy borrowed from science fiction, but a reality thats knocking at our doors. Machines are rapidly ascending the ladder of intelligence, and humanity is learning to harness this newfound potential. While concerns about unchecked AI dominance and fears of human subjugation by machines persist, one certainty emerges: the age of machines collaborating with humans is dawning.

Personal insights do shed light on this evolution. A son deeply immersed in the realm of machine learning and a daughter, a fashion designer, seamlessly integrating AI into the realm of fashion trends, highlight the rapid transformation thats underway. These personal experiences echo what visionary business leaders have been foretelling even before AI was the talk of the town, they spoke of AI as the next revolution. Today, that prophecy is steadily materializing.

So, what exactly does AI entail? It is the amalgamation of machine learning and deep learning techniques, mirroring human behavior and cognition. AI models, nurtured on extensive data, are becoming adept at generating insightful responses and informed decisions. Amidst concerns of AI displacing human roles and triggering job losses, a critical understanding must prevail AIs essence lies in amplifying human capabilities rather than rendering them obsolete. By simplifying tasks, AI elevates efficiency and productivity.

Yet, AIs role isnt to function in isolation; human intervention remains indispensable, at least for now. This symbiotic relationship necessitates training and will inevitably give rise to new roles, shining a spotlight on the need for reskilling and adaptability.

The advancement of AI is intricately tied to the scale of data and complexity of AI models, creating a trajectory of evolution thats awe-inspiring. A prime example is GPT-3, a groundbreaking model that operates through a remarkable 175 billion parameters. This extensive parameter count serves as the foundation for the models cognitive abilities, enabling it to grasp patterns and generate intelligent responses. Yet, this is just a stepping stone on the path of AIs progress. As we look ahead, the landscape is swiftly transforming, with tech giants embarking on the creation of AI models that dwarf their predecessors. These massive models, comprising over 1.6 trillion parameters, signal a quantum leap in AIs capabilities. This exponential growth in parameters encapsulates the accelerated evolution AI is experiencing, underscoring the rapid pace at which technology is reshaping the boundaries of intelligence.

AIs influence spans across a wide spectrum of applications, leaving an indelible mark on various aspects of modern life. From its presence in technologies we encounter daily, such as facial recognition and GPS-driven driver assistance, to the subtler yet equally impactful domains like personalized advertising and voice assistants, AI has seamlessly woven itself into our routines. However, the scope of AIs impact extends far beyond these familiar domains.

AIs reach is evident in realms as diverse as image and content manipulation, where it empowers creative processes and enables transformative alterations to media. It doesnt stop there AIs capabilities are harnessed for complex mathematical problem-solving and the intricate task of predictive analysis, offering insights into drug candidates potential efficacy. The transformative power of AI is perhaps most pronounced in fields like finance, where it assists auditors in studying accounts, aids investors in identifying stock opportunities, and even generates legal contracts with precision. Moreover, AI is an invaluable tool in the realm of risk management, where it uncovers potential insurance fraud, safeguarding against financial losses. The vast expanse of AI applications continues to expand, with its potential reaching across industries and sectors, promising solutions to challenges both known and unforeseen.

According to a comprehensive report by Next Move Strategy Consulting, the AI market could burgeon into a $2 trillion industry by 2030. This staggering projection illuminates the expansive opportunities for AI pioneers, tech juggernauts, and the IT services sector. Indias IT industry, renowned for adapting to digital transformations, is poised to harness AI models constructed by industry giants, ushering in a substantial opportunity akin to digital transformation itself.

The potential of intelligent machines to dissect information offers an unprecedented opportunity that businesses dare not overlook. Those who embrace this shift astutely and expediently will undoubtedly seize a competitive edge. Visionary leaders are attuned to this transformation, as exemplified by Tata Sons Chairman N Chandrasekarans commitment to deploying AI in the rejuvenation of Air India.

AI is far more than just a technological stride forward; it stands poised as a transformative force ready to redefine the very contours of business landscapes. Grasping this potential in a timely manner is a pressing need for both business leaders and stakeholders. Investors and shareholders find themselves confronted with a crucial inquiry: Is their company primed to harness the capabilities of AI? With the dawn of the AI era, readiness transcends being a mere option; it evolves into an indispensable strategy that holds the key to not only survival but also triumph.

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The Dawn of Intelligence - Embracing AI's Rise and What It Means ... - TechiExpert.com

Vivek Ramaswamys team responds to racist Ann Coulter tweet after debate clash with Nikki Haley – NBC News

August 26, 2023 | Author: admin

Conservative commentator Ann Coulter is facing backlash for racist comments she made about the two Indian Americans running for the GOP presidential nomination.

During Wednesday night's Republican presidential debate, Coulter characterized an exchange between former South Carolina Gov. Nikki Haley and biotech entrepreneur Vivek Ramaswamy as "Hindu business."

"Nikki and Vivek are involved in some Hindu business, it seems," Coulter tweeted. "Not our fight."

"Ann can tweet whatever she wants to," Ramaswamys senior adviser and communications director, Tricia McLaughlin, told NBC News. "Vivek shares and lives by the same Judeo-Christian values that this nation was founded on and the way Vivek lives his family life offers a positive example for their own children and grandchildren."

Ramaswamy is Hindu. Haley was born into a Sikh family and is a Christian, which she has been vocal about in her public life.

The heated exchange Coulter appeared to refer to wasnt even about religion but rather U.S. aid to Ukraine and Israel.

Both conservatives and liberals criticized Coulter for her comment.

"Nikki Haley was born Sikh and is a practising Christian, you racist troglodyte," a person tweeted in response.

Coulter didn't immediately respond to a request for comment.

It's a trope that's not unexpected coming from someone with a history like Coulter's, others said.

"Completely expected that she would attack them but using a white racist trope invoking a religion is beyond disgusting," tweeted Sangay Mishra, the author of Desis Divided: The Political Lives of South Asian Americans."

It isn't the first time this election cycle that Coulter has been in the news for racist comments about Haley. In February, she caught heat for telling Haley to "go back to your own country" as part of a larger tirade on a podcast.

Whats with the worshipping of the cows? Theyre all starving over there," she said in the appearance on the The Mark Simone Show podcast. "Did you know they have a rat temple, where they worship rats?"

Coulter has also called Haley a "bimbo" and a "preposterous creature."

Haley didn't immediately respond to requests for comment.

Sakshi Venkatraman is a reporter for NBC Asian America.

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Vivek Ramaswamys team responds to racist Ann Coulter tweet after debate clash with Nikki Haley - NBC News

"Truly shameful": Critics blast NY Times for featuring "openly racist and bigoted" Ann Coulter – Salon

August 26, 2023 | Author: admin

Published August 23, 2023 2:34PM (EDT)

The New York Times on Wednesday drew heated criticism for publishing an opinion piece about the Republican Party's presidential debate that gave voice to ultra-conservative commentator Ann Coulter.

Times columnist Frank Bruni hosted aroundtable discussiontitled "'I Don't Think Trump Will Be the Nominee': Three Writers Preview the First G.O.P. Debate," that included Coulter and Stuart Stevens, a former Republican political consultant. The article presents the trio's discussion of their expectations about the first Republican party debate slated for Wednesday night.

Upon seeing Coulter's name under the headline of the article, journalists and media personalities decried the Times' decision to feature the right-wing media pundit as "irresponsible" and "shameful."

"Seriously ranks among the lowest, most irresponsible things the New York Times has done," Sirius XM host Michelangelo Signorilewrote on X, formerly Twitter.

"Just noting that today the New York Times gave some valuable space to Ann Coulter, one of the most repulsive hatemongers to ever slither her way through American politics," Washington Post opinion writer Paul Waldman wrote. "Good work by the Paper of Record, really elevating the debate!"

"Truly shameful from the Times. A woman who is not just openly racist and bigoted but has incited hate and violence against the Times itself,"MSNBC host Mehdi Hasan added.

Coulter has long been an incendiary figure in the media landscape for her tirades against non-conservative publications, including the Times.

"In 2002, Coulter famously said that her 'only regret with Timothy McVeigh is he did not go to the New York Times building'; she later expressed regret, saying she 'should have added, after everyone had left the building except the editors and reporters,'" Matthew Gertz, a senior fellow for watchdog Media Matters for America, noted on X.

Gertz also pointed out Coulter's more recent attack against the Times in an opinion piece published in 2019 arguing that the publication "must die" because it "cannot be trusted on anything touching on race. They're liars and ideologues, not reporters and editors."

Want a daily wrap-up of all the news and commentary Salon has to offer? Subscribe to our morning newsletter, Crash Course.

The Southern Poverty Law Center alsodescribed the pundit's bigoted and, at times, violence-inciting comments against people and groups she disagrees with, and her defense of a white supremacist group in a 2009 article.

In 2020, Coulter was forced to delete a tweetlauding Kyle Rittenhouse, the teenager who fatally shot protestors in Kenosha, Wisconsin, during Black Lives Matter protests in the state, for violating the platform's rules on glorifying violence.

During a podcast appearance earlier this year, she launched a xenophobic rant against Republican candidate and former South Carolina Gov. Nikki Haley, who was born in the United States to immigrant parents from India, asking why Haley doesn't "go back to your own country," according to NBC News.

Her commentary in the Times' Wednesday roundtable included a range of similarly contentious statements, including a tacit accusation that Democrats are purposefully indicting former President Donald Trump and a claim that former New Jersey Gov. Chris Christie doesn't care about "Americans killed and raped by illegal immigrants inourcountry."

"Mainstream news outlets are going to enable the fascists up till the moment when their journalists are frog-marched out of the newsrooms at gunpoint," predicted Mark Jacob, former editor of TheChicago Tribune & Sun-Times.

about the New York Times

Tatyana Tandanpolie is a news fellow at Salon. Born and raised in central Ohio, she moved to New York City in 2018 to pursue degrees in Journalism and Africana Studies at New York University. She is currently based in her home state and has previously written for local Columbus publications, including Columbus Monthly, CityScene Magazine and The Columbus Dispatch.

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"Truly shameful": Critics blast NY Times for featuring "openly racist and bigoted" Ann Coulter - Salon

Hindu Business: Racist author sparks controversy in the US – The Economic Times

August 26, 2023 | Author: admin

Conservative pundit and author Ann Coulter has come under criticism for making racist remarks targeting Indian-American presidential aspirants Nikki Haley and Vivek Ramaswamy. Coulter referred to their clash during a Republican primary debate as a "Hindu business."Coulter's tweet read, "Nikki and Vivek are involved in some Hindu business, it seems. Not our fight," which prompted backlash on social media.Vivek Ramaswamys senior adviser and communications director, Tricia McLaughlin, responded to Coulter's tweet, stating that Vivek shares and lives by Judeo-Christian values and his family life sets a positive example.Vivek Ramaswamy is the second Hindu presidential candidate after Tulsi Gabbard, who ran as a Democrat in 2020. Nikki Haley, born Nimrata 'Nikki' Randhawa, was raised by Sikh parents and later converted to Christianity.Coulter faced social media backlash for her comments, with individuals criticizing her for using racist tropes and derogatory language. HinduAction, a US-based advocacy group, responded to Coulter's tweet, highlighting the accomplishments of American Hindus in various fields and calling out her ignorance.

"News for you @AnnCoulter. @VivekGRamaswamy and @NikkiHaley are the next generation of @GOP leaders. American Hindus are leaders in science, technology, medicine and policy research. Take it easy, read the Bhagavat Gita and take the batteries out of your ignorant megaphone," HinduAction group wrote on X in response to Coulter's tweet.

Coulter has a history of attacking Haley, previously calling her derogatory names and suggesting she "go back to her own country" after Haley announced her presidential bid.

Hank Kunneman, a pastor, targeted Ramaswamy's Hindu faith in a sermon, warning against voting for him based on his religion.

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Hindu Business: Racist author sparks controversy in the US - The Economic Times

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Best use cases of t-SNE 2023 part2(Machine Learning) – Medium

The Dawn of Intelligence – Embracing AI’s Rise and What It Means … – TechiExpert.com

Vivek Ramaswamys team responds to racist Ann Coulter tweet after debate clash with Nikki Haley – NBC News

"Truly shameful": Critics blast NY Times for featuring "openly racist and bigoted" Ann Coulter – Salon

Hindu Business: Racist author sparks controversy in the US – The Economic Times

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