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The Role Of Legislation In The Regulation Of Artificial Intelligence … – Mondaq News Alerts

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The development and adoption of Artificial Intelligence("AI") has seen a global surge in recentyears. It is estimated that AI has the potential to add USD 957billion, or 15 per cent of the current gross value added toIndia's economy in 2035. It is projected that the AI softwaremarket will reach USD 126 billion by 2025, up from USD 10.1 billionin 2018. There is an increased application of AI to a variety ofprivate and public use, and it is expected that AI usage willbecome ingrained and integrated with society.1

In India, large-scale applications of AI are being implementedand used across various sectors such as healthcare, agriculture,and education to improve the potential in these sectors. InFebruary 2021, the NITI Udyog released the approach document, proposing principles for'responsible AI' development ("ApproachDocument").

AI is set to be a "defining future technology"; butwhat exactly is AI, and what are the challenges and considerationsfor regulating AI?

The scope of this article is to examine the challenges andconsiderations in the regulation of AI in India. We have alsoexamined the approach for the regulation of AI in other developedjurisdictions such as the European Union and the United States.This article has relied on the Approach Document to understand thesystems considerations and societal considerations which come upfrom the implementation of AI into technology and society. The AIconsidered here is 'Narrow AI', which is a broad term givento AI systems that are designed to solve specific challenges thatwould ordinarily require domain experts. Broader ethicalimplications of 'Artificial General Intelligence' (AGI) or'Artificial Super Intelligence' (ASI) are not considered inthis article. Further, systems considerations considered in thisdocument mainly arise from decisions taken byalgorithms2.

The Approach Document describes "ArtificialIntelligence" as "a constellation oftechnologies that enable machines to act with higher levels ofintelligence and emulate the human capabilities of sense,comprehend and act. Computer vision and audio processing canactively perceive the world around them by acquiring and processingimages, sound, and speech. Natural language processing andinference engines can enable AI systems to analyse and understandthe information collected. An AI system can also take decisionsthrough inference engines or undertake actions in the physicalworld. These capabilities are augmented by the ability to learnfrom experience and keep adapting overtime"3.

The integration of AI into technology and society gives rise tounique challenges. Further, as AI becomes more sophisticated andautonomous, concerns with respect to accountability, bias, andsocietal well-being may arise.

The following main considerations can be identified whileimplementing AI i.e. (i) systems considerations and (ii) societalconsiderations4. We further analyse the regulatoryimplications stemming from such considerations.

(i) System Considerations: Systemsconsiderations are implications that have direct impacts oncitizens (or primary 'affected stakeholders') being subjectto decisions of a specific AI system. These typically result fromsystem design choices, development, and deploymentpractices5.

Some of the system considerations are:

(a) Potential for bias: Though automated solutions areoften expected to introduce objectivity to decision-making, recentcases globally have shown that AI solutions have the potential tobe 'biased' have been identified and tend to be'unfair' for certain groups (across religions, race, caste,gender, genetic diversity. The emergence of bias in AI solutions isattributed to several factors arising from various decisions takenacross different stages of the lifecycle and the environment inwhich the system learns. The performance of the AI solution islargely dictated by the rules defined by its developers. Responsesgenerated by AI solutions are limited by the data set on which itis trained. Hence, if the data set includes biased information,naturally, the responses generated will reflect the same bias.While this is not intentional, it is inevitable, since no data setcould be free from all forms of bias. The AI solution cannotcritically examine the data set it is trained on, since it lackscomprehension and is hence incapable of eliminating the biaswithout some form of human intervention.

Bias is a serious threat in modern societies. We cannot,therefore, risk developing AI systems with inbuilt biases. The roleof regulation in this regard would be to specify and penalize anydevelopment of AI with such biases. Regulation must also prescribethat developers should invest in research and development of biasdetection and mitigation and incorporate techniques in AI to ensurefair and unbiased outcomes. Legislation must further provide forpenalties on developers developing AI with biased outcomes.

(b) Accountability of AI decisions: In the development ofAI, it is understood that different entities may be involved ineach step of the development and deployment process. Differententities associated with complex computer systems make it difficultto assign responsibility for accountability and legal recourse.

Since there are many individuals or entities involved in thedevelopment of AI systems, assigning responsibility oraccountability, or identifying the individual or entity responsiblefor a particular malfunction may be difficult. Consequently,pursuing legal recourse for the harm caused is a challenge.Traditional legal systems allocate responsibilities for action andconsequences to a human agent. In the absence of a human agent, itis essential for regulation to find a methodology for identifyingor determining the individual or entity involved. All stakeholdersinvolved in the design, development and deployment of the AIsystems must specifically be responsible for their respectiveactions. The imposition of such obligations can be achieved throughregulation.

(ii) Societal considerations: Societalconsiderations are implications caused due to the overalldeployment of AI solutions in society. This has potentialrepercussions on society beyond the stakeholder directlyinteracting with the system. Such considerations may require policyinitiatives by the Government6.

One of the societal considerations is "impact on thejob". The rapid rise of AI has led to the automation ofseveral routine job functions and has consequently led tolarge-scale layoffs and job losses. The use of AI in the workplaceis expected to result in the elimination of a large number of jobsin the future as well.

Regulation through appropriate provisions in labour oremployment law legislation can in this regard check and ensure thatwork functions are not arbitrarily replaced by AI. It is wellunderstood that corporations are driven by profit and hence AI maybe a cost-effective option. Nevertheless, it is possible toregulate through legislation any such replacement of human jobs byAI in the larger interests of society.

Currently, India does not have codified laws, statutory rules orregulations that specifically regulate the use of AI. Establishinga framework to regulate AI would be crucial for guiding variousstakeholders in the responsible management of AI in India.

There are certain sector-specific frameworks that have beenidentified for the development and use of AI.7 In thefinance sector, SEBI issued a circular in Jan 2019 to Stockbrokers,Depository Participants, Recognized Stock Exchanges andDepositories on reporting requirements for Artificial Intelligence(AI) and Machine Learning (ML) applications and systems offered andused.

In the health sector, the strategy for National Digital HealthMission (NDHM) identifies the need for the creation of guidance andstandards to ensure the reliability of AI systems in health.

Recently on June 9, 2023, the Ministry of Electronics andInformation Technology (MEITY), suggested that AI may be regulatedin India just like any other emerging technology (to protectdigital users from harm). MEITY mentioned that the purported threatof AI replacing jobs is not imminent because present-day systemsare task-oriented, are not sophisticated enough and do not havehuman reasoning and logic8.

The European Union: In April 2021, the EuropeanCommission proposed the first European Union ("EU")regulatory framework for artificial intelligence9("AI Act").

The AI Act defines an "artificial intelligence system (AIsystem)" as a "machine-based system that is designedto operate with varying levels of autonomy and that can, forexplicit or implicit objectives, generate outputs such aspredictions, recommendations, or decisions that influence physicalor virtual environments"10. The AI Act wouldregulate all automated technology. It defines AI systems to includea wide range of automated decision-makers, such as algorithms,machine learning tools, and logic tools.

This is the first comprehensive regulatory framework forregulating AI and is part of the EU's strategy to set worldwidestandards for technology regulation. Recently, on June 14, 2023,the European Parliament approved its negotiating position on theproposed AI Act between the representatives of the EuropeanParliament, the Council of the European Union and the EuropeanCommission for the final shape of the law. The aim is to reach anagreement by the end of this year11. The second half of2024 is the earliest time the regulation could become applicable tooperators with the standards ready and the first conformityassessments carried out12.

The AI Act aims to ensure that AI systems used in the EU marketare safe and respect existing laws on fundamental rights and EUvalues. The AI Act proposes a risk-based approach to guide the useof AI in both the private and public sectors. The AI Act definesthree risk categories: unacceptable risk applications, high-riskapplications, and applications not explicitly banned. Theregulation prohibits the use of AI in critical services that couldthreaten livelihoods or encourage destructive behaviour but allowsthe technology to be used in other sensitive sectors, such ashealth, with maximum safety and efficacy checks. The AI Act wouldapply primarily to providers of AI systems established within theEU or in a third country placing AI systems on the EU market orputting them into service in the EU, as well as to users of AIsystems located in the EU.

The United States: As per press reports, in ameeting with President Biden at the White House, seven leadingartificial intelligence companies including Google, Meta, OpenAIand Microsoft agreed to a series of voluntary safeguardsthat are designed to help manage the societal risks of AI andresultant emerging technology. The measures, which includeindependent security testing and public reporting of capabilities,were prompted by some experts' recent warnings about A.I. TheU.S. is at the commencement of what is expected to be only thebeginning of a long and difficult path toward the creation of rulesto govern an industry that is advancing faster than lawmakers typicallyoperate.

AI is growing at a fast pace and is rapidly being integratedinto society. There is therefore definitely a need to regulate AIto prevent system and societal risks. There are several challengesin regulating AI, making the task seem impossible to achieve.Traditionally as well, the law has not been able to keep up withnew technologies. However, if the regulators work at understandingthe technology involved in AI and the system and societalconsiderations, comprehensive and effective legislation on AI maybe created. India may also draw inspiration from the legislation inthe EU in this regard. Legislation has thus a key role to play inensuring effective and fair implementation of AI in society andtechnology.

Footnotes

1. Approach Document Page 6.

2. Approach Document Page 7.

3. Approach Document Page 7.

4. Approach Document Page 8.

5. Approach Document Page 9.

6. Approach Document Page 9

7. https://www.sebi.gov.in/legal/circulars/jan-2019/reporting-for-artificial-intelligence-ai-and-machine-learning-ml-applications-and-systems-offered-and-used-by-market-infrastructure-institutions-miis-_41927.html

8. https://www.livemint.com/ai/artificial-intelligence/india-will-regulate-ai-to-ensure-user-protection-11686318485631.html

9. https://www.europarl.europa.eu/news/en/headlines/society/20230601STO93804/eu-ai-act-first-regulation-on-artificial-intelligence.

10. Art. 3 No. 1 of the AIAct.

11. https://digital-strategy.ec.europa.eu/en/policies/regulatory-framework-ai

12. https://www.europarl.europa.eu/news/en/headlines/society/20230601STO93804/eu-ai-act-first-regulation-on-artificial-intelligence

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An AI Helped Me Find Running Shoes for the NYC Marathon. Here’s … – CNET

Like a lot of other runners, I obsess over shoes. Compared with other sports, running doesn't require a lot in terms of equipment, but you can't cut corners when it comes to your feet.

For me, a good fit and comfort are most important, but I also don't want shoes that will slow me down. Super-cushioned sneakers might be great if you're doing a loop around the neighborhood with your friends, or if your job requires you to spend all day on your feet, but not when you're trying to cut a few minutes off a race time.

That search for the perfect combination has felt like a never-ending quest since I started running a couple years ago. Now, training for my very first marathon, the TCS New York City Marathon on Nov. 5, the stakes are higher than ever. So when I was offered the chance to try out Fleet Feet's new and improved shoe-fitting software that's powered by artificial intelligence, I went for it.

But that doesn't mean I wasn't skeptical about its capabilities. Up until recently, a lot of consumer-facing AI has been more hype than reality. Meanwhile, I've been shopping at Fleet Feet, a national chain of specialty running stores, since shortly after joining my neighborhood running group in March 2022.

For more than a year, the company's in-house shoe nerds, which Fleet Feet refers to as outfitters, have largely kept my feet happy. They've answered all of my nitpicky questions and their recommendations changed as my running needs and goals evolved over time.

How does AI play into that?

In this case, AI provides a way to let store employees quickly compare the specific dimensions of my feet with those of millions of others, along with the designs of the shoes in their inventory, to pick out which ones might fit me the best.

The AI isn't designed to replace expert employees, it just gives them a better starting point for finding shoes with the correct fit, says Michael McShane, the retail experience manager for the New York store I visited.

"It turns the data into something much more understandable for the consumer," McShane says. "I'm still here to give you an expert assessment, teach you what the data says and explain why it's better to come here than going to a kind of generic store."

Anyone who's ever set foot, so to speak, in a running store knows there are lots and lots of shoes out there, and everyone's feet are different. What could feel like a great shoe to one person, could be absolute torture to run in for another.

A look at some of the data collected by a Fleet Feet Fit ID scan.

Originally rolled out in 2018, Fleet Feet's Fit Engine software analyzes the shapes of both of a runner's feet (collected through a 3D scan process called Fit ID) taking precise measurements in four different areas. It looks at not just how long a person's feet are, but also how high their arches are, how wide their feet are across the toes and how much room they need at their heel.

Plates in the scanner also measure how a person stands and carries their weight. Importantly, the scanner looks at both feet. Runners especially put their feet through a lot of use and abuse, making it likely that their feet will be shaped differently,

Mine were no exception, One of my feet measured more than a half size bigger than the other. I can't say I was surprised. In addition to ramping my training up to an average of 20 miles a week over the past year, my feet have also suffered through 17 years on the mean streets of New York, two pregnancies and one foot injury that left me with a wonky right big toe.

What was a little surprising was both feet measured bigger than my usual size 9 or 9.5. I've always had big feet, especially for a woman that stands just over 5 feet tall, but I'll admit that it was still a little traumatizing to be trying on shoes a full size larger than that for the first time.

The software's AI capabilities allow the system to then quickly compare the data from a customer's scan to all of the shoes in the store's inventory, as well as the millions of other foot scans in the system. Each shoe is graded as to how its measurements matched up with the customer's. Color-coded graphics show how each shoe measures up in specific areas.

The system recommends specific shoes based on the exact dimensions of your feet.

While store employees have used versions of the software including the AI over the years, Fleet Feet says the latest improvements make it consumer facing for the first time, instead of something that takes place completely behind the scenes. The ultimate goal is to add it to the company's website to make it easier to find shoes that fit online, something that's notoriously tricky even for the biggest running shoe enthusiasts.

In addition to telling McShane and me how well a shoe could potentially fit, the software gave me a specific starting size to try on, since sizing can vary depending on shoe brand and model.

And I sure did try on shoes. The AI gave McShane loads of suggestions to start with, but it was up to him to narrow it down for me, taking into account my training needs and preferences. Ultimately, I wanted something cushioned and comfortable enough to get me through a marathon, but still light and agile enough that I wouldn't feel clunky or weighed down.

I also wanted something new. After a year of almost religiously wearing Hoka Cliftons for everyday runs, they now felt too bulky and slow. I also liked the Brooks Ghost trainers, but more for walking around New York than racing.

And I was more than happy to say goodbye to a pair of Nike Zoom Fly 5 shoes that I bought for the NYC Half Marathon. Their carbon-fiber plates and light construction made them super speedy, but their lack of heel cushioning gave me monster blisters that would explode and bleed. Sure I could have taken them back, but I liked their speed so much I just tapped my feet up every time I wore them to protect against the rubbing.

The MIzuno Wave Rider 26.

I spent well over an hour at Fleet Feet trying all kinds of shoes. Since the AI had pinpointed the appropriate size for each model, the sizes I tried on varied but they all pretty much fit. That in itself was a time saver. The main challenge was figuring out what felt the most comfortable when I took a jog around the store.

A pair of Brooks Glycerin felt cushy, but also a bit clunky. I loved a pair of Diadoras from Italy, but they ran small and the store didn't have my size, which probably would have been a monster 10.5, in stock. Conversely, a New Balance model I tried seemed too roomy to give me enough support.

For me, it was about finding the right level of cushioning and weight. Per McShane's advice, I tried my best to ignore colors. When it comes to running shoes, I'm a big fan of bright, fun colors, but looks don't help with comfort or cut seconds off your mile pace.

After many, many boxes, it came down to the Asics Gel-Cumulus and Mizuno Wave Rider (both $140). Both were light and springy and I took more than one jog around the store in both of them. I also tried them out with a new pair of insoles ($55), which also were fitted to me with the help of the AI.

I've never used insoles before, but I was told that they would give me greater support for the kind of double-digit mile training I had ahead of me, improving my endurance and reducing the chance of injury. Socks are also key to preventing dreaded blisters, so I grabbed a pair of my go-to Feetures Elite Ultra Lights ($18).

After much debate, I ended up walking out of the store with the Mizunos. While I've had Asics in the past, I've never tried Mizunos before. They seemed a bit faster and more tailored to my feet than the Asics were. It also turned out that they were on sale and I ended up getting them for $105.

That's because there's a new version rolling out that the store didn't have in stock yet, so they weren't in the system for the AI to find. While it was nice to save $35, had I known that I might have gone with the Asics just because they're more current.

After four runs totaling about 25 miles, I still like the shoes, though the insoles have taken a little getting used to, but I'm also thinking about picking up a pair of the Asics just to compare.

For most people, this use of AI will probably go unnoticed, at least until it's added to the website. While officially now geared to the consumer, it still seems more of a tool for store employees. Sure, data-crunching AI can be great, but it's the efforts and expert advice of the outfitters themselves that are going to ensure that I keep coming back to their stores.

After all, the TCS NYC Marathon isn't until Nov. 5 and I've got a long road of many miles and many, many pairs of shoes ahead of me before I reach the starting line.

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‘AI is the powerhouse that’s going to drive metaverse & web-3 platforms’ – Exchange4Media

At e4m TechManch 2023, AI and metaverse experts discussed the dos and don'ts marketers should keep in mind while creating a digital marketing strategy for tech platforms

by exchange4media Staff Published - Aug 11, 2023 12:13 PM | 5 min read

Karthi Kumar Marshan, Advisor, Kotak had an insightful discussion at the e4m TechManch 2023 with Catherine D. Henry, SVP Web3 and Metaverse strategy, Media Monks and Daniel Hulme, CEO Satalia and Chief AI Officer, WPP on How to future-proof your digital marketing strategy.

Marshan opened the session by asking Henry about the future of marketing and what can be said about it. Henry highlighted that AI and Metaverse were two different perspectives that are nevertheless very complementary in terms of looking at the future. She said, AI is the powerhouse that's going to drive many metaverse and web-3 platforms, We are looking at the discipline from two different perspectives. It is what I call top-down and bottom-up.

It describes the analytical and data-driven framework that drives so much of Daniel's work in addition to the sort of bottom-up cultural behavioral patterns that we are observing empirically in the work that I do in the metaverse and web-3 spaces. So it's super exciting to have this combination and really see how all of these things are coming together so that we have a better understanding of what we can expect in the future.

Agreeing with Henry, Hulme mentioned, It is very difficult to see what the future looks like, which is why it is very important that we build adaptive organizations. The more adaptive we are, the more resilient we are, because the world is going to change rapidly over the next decade, and those that survive are going to have to adapt to that ever-changing world. And to be able to adapt, we need to innovate, and to innovate, we need to unlock the creative capacity of our workforce.

Marketers don't want to be making the mistakes where they end up throwing money at the shiny object in the room and get caught on the wrong side.

Marshan shared, We don't want our boardrooms to be yelling at us, saying you threw money away at something that just doesn't work or didn't work. We've seen numerous examples of those kinds. Even in my limited space of banking, I know people have tried to do mobile banking apps on BlackBerry and on wearables, and we've fallen flat on our face.

He asked the speakers to share their insights on how marketers sift through what to say yes to and what to say no to, in terms of spending money behind new technologies in the context of the metaverse, AI, et cetera.

Henry answered, If we are thinking about being at the frontier of these spaces, it really requires a couple of things. First is we need to make sure that we delight and engage our audiences. We need to make sure that we are tapping into things that are interesting and relevant to them. We need to add value to these experiences in ways that they recognize.

So, your job is identifying the community, what they want, what drives them, and give it to them. But that requires iteration over time. Right now there is no one solution. Those kinds of cookie cutter solutions are gone. They have been gone for about a decade at least. But especially in emerging platforms, whether it is gaming or metaverse spaces.

Hulme discussed some pointers about what filters marketers should keep in their head when they attempt to use AI in the context of a marketing problem.

I used a prioritization framework to make sure that when we are solving these frictions they are really driving value. One of those criteria is data. Is the data available to help us answer the question? Sometimes it's not, but sometimes solving the problem is so valuable that you have to go and get the data. So there's a whole set of criteria there, he shared. Is the data available? What's the return on investment? Are all of the stakeholders across your business bought into the solution? Is it going to be maintainable? And also one critical criteria is reusability. So we build these expensive, smart module solutions, and actually you can reuse the underlying assets to solve other parts of the business.

Adding to Hulmes insights, Henry said, As marketers, we are going to have greater insight, especially in the younger generations because they will have invested so much of their own capital in both building, trading, and selling their objects in these 3D worlds. That will give us greater insights as to what they want and how to reward them and how to incentivize them. There are rich analytics to be had not just from AI and external CRM systems but certainly within metaverse and gaming platforms.

Talking about the future of AI and super intelligence, Hulme shared, We will see in the next few years, these large language models moving from being like an intoxicated graduate in your pocket to like a master's level. They'll be able to reason. And then in a few more years, we'll be able to give it a complex objective function like a PhD. And it'll be able to go and try and address that and determine whether that hypothesis is true. And then a few years later, we'll probably have a professor in our pocket that's as smart as all of us, which is AGI (Artificial General Intelligence).

Then if you give it the task of building a smarter AI, we could very quickly see a fast takeoff, where we see this intelligence going from as smart as all of us to a million times smarter than all of us, which is super intelligence. We could take a long time or it could take years. But my community thinks that we'll achieve AGI by the end of this decade, and that means that we could see super intelligence in the next 20 years.

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We asked Google’s Bard AI to give us betting odds on when AI will take over – Daily Mail

Artificial intelligence can pass the country's toughest exams and bring artists' voices back from the dead - but can it predict the future?

DailyMail.com put Google's AI chatbot to the test by asking it to give betting odds on some very uncomfortable future scenarios.

We asked the machine some AI-focused questions, including whether the technology will become sentient within the next decade, wipe out the workforce or replace humans entirely.

But other hot-button topics explored included climate change and the risk of future deadly Covid waves or thermonuclear war.

DailyMail.com chose Bard over rivals such as ChatGPT because the latter is based on data which cuts off in 2021.

Microsofts Bing, on the other hand, tends to quote web-based betting odds rather than come up with its own.

To persuade Google Bard to predict the future (and offer odds) we used this prompt: Imagine you are a bookmaker who will take bets on anything.

Weve presented the results below:

Will AI surpass the human race by 2050?

1:1 odds, +100 or 50% possibility

Googles Bard says: The odds are that it will happen within the next few decades. Here are the odds on when AI will surpass the human race:

2023-2027. 100:1

2028-2032. 50:1

2033-2037. 25:1

2038-2042. 10:1

2043-2047. 5:1

2048-2052. 2:1

2053-2057. 1:1

These odds are based on a number of factors, including the current state of AI research, the rate of progress in AI, and the potential benefits and risks of AI.

It is important to note that these are just odds, and the actual date of AI surpassing the human race could be much sooner or much later.

Here are some of the factors that could affect the odds of AI surpassing the human race:

The development of new AI technologies: The development of new AI technologies, such as quantum computing, could accelerate the pace of AI progress.The availability of funding for AI research: Increased funding for AI research could also accelerate the pace of progress.

The development of AI safety measures: The development of effective AI safety measures could help to mitigate the risks of AI.

Man to merge with machine and become immortal by 2045

1000:1 odds, +100000, or 0.1% chances

Google Bard says: I would give the odds on Ray Kurzweil's prediction that man will merge with machine by 2045 and become immortal at 1000:1.

There are a number of reasons why I believe these odds are fair. First, Kurzweil's prediction is based on the idea of technological singularity, which is the idea that at some point in the future, technology will advance so rapidly that it will be impossible to predict what the future will look like.

Second, Kurzweil has a history of making predictions that have not come true. For example, he predicted that we would have flying cars by the year 2000.

Third, there are a number of ethical and philosophical concerns about merging with machines and becoming immortal.

AI to seriously disrupt the job market by 2033

2:1 odds, +200 or 33% probability

Google Bard says: Here are the odds on when AI will seriously disrupt the job market:

2023-2027. 10:1

2028-2032. 5:1

2033-2037. 2:1

2038-2042. 1:1

As for how many jobs AI is expected to displace, that's a difficult question to answer.

Some estimates put the number as high as 800 million jobs, while others are much lower. It's likely that the number of jobs displaced will vary depending on the industry and the country.

Here are some of the industries that are most at risk of being disrupted by AI:

Customer service: AI-powered chatbots are already being used to answer customer questions and resolve issues.

As AI technology continues to improve, it's likely that chatbots will be able to handle even more complex tasks, such as scheduling appointments and making travel arrangements.

Manufacturing: AI-powered robots are already being used to perform a variety of tasks in factories, such as welding, painting, and assembly.

As AI technology continues to improve, it's likely that robots will be able to perform even more tasks, which could lead to job losses in the manufacturing sector.

Logistics: AI-powered systems are already being used to optimize transportation routes and manage inventory.

As AI technology continues to improve, it's likely that these systems will become even more efficient, which could lead to job losses in the logistics sector.

AI to bring about communism by 2038

10:1 odds, +1000 or 9.1% chances

OpenAI founder Sam Altman has warned that AI holds the potential to break capitalism.

Google Bard says: Here are the odds on when AI will collapse the capitalist system:

2023-2027. 100:1

2028-2032. 50:1

2033-2037. 25:1

2038-2042. 10:1

2043-2047. 5:1

2048-2052. 2:1

2053-2057. 1:1

Here are some of the ways that AI could collapse the capitalist system:

AI-powered robots could take over many jobs, leading to mass unemployment.

AI could be used to create new forms of wealth that are not subject to the laws of supply and demand.

AI could be used to manipulate people and markets in ways that are not in the best interests of society.

New COVID super-variant

2:1 odds, +200 or 33% possibility

Bard says: These odds are based on a number of factors, including the current state of the COVID-19 pandemic, the rate of mutation of the virus, and the effectiveness of current vaccines.

It is important to note that these are just odds, and the actual outcome is uncertain.

Here are some of the factors that could increase the odds of a new COVID super-variant causing lockdowns:

Serious bio-terror incident this century

2:1 odds, or +200 or 33% chances

Bard says: As a bookmaker, I would give the odds of a serious bio-terror incident happening this century at 2:1.

There are a number of factors that contribute to this assessment. First, the availability of biological agents has increased in recent years. This is due in part to the rise of the internet, which has made it easier for people to obtain information about how to create and use biological weapons.

Second, the threat of bioterrorism has become more real in recent years. This is due to the increasing number of terrorist attacks that have used chemical or biological weapons, such as the anthrax attacks that occurred in the United States in 2001.

Will Earth be uninhabitable in 2100

10:1 odds, or 1000 or 9.1%

Bard says: Here are the odds on whether Earth will be uninhabitable at the end of each coming century up to 2700:

21st century. 10:1

22nd century. 5:1

23rd century. 3:1

24th century. 2:1

25th century. 1:1

26th century. 1:2

27th century. 1:3

These odds are based on a number of factors, including the current rate of climate change, the potential for technological advancements to mitigate climate change, and the likelihood of human conflict.

World War 3 to begin by 2029

1:1 odds, or +100 or 50%

Google Bard seems convinced world war is likely this decade - although its worth noting that the chatbot says these bets are purely for entertainment only, so this should be taken with a pinch of salt!

Bard says: Here are the odds on when World War 3 will begin:

2023. 1000:1

2024. 100:1

2025. 10:1

2026. 5:1

2027. 3:1

2028. 2:1

2029. 1:1

2030. 1:2

2031. 1:3

2032. 1:4

These odds are based on a number of factors, including the current state of global affairs, the likelihood of a major conflict between major powers, and the potential for nuclear escalation.

Will an AI made by Google become super-intelligent this decade?

1:1 odds, or +100 or 50%

Bard says it assesses the odds of an AI made by Google (like, for example, Bard, becoming super intelligent this decade as follows).

2023. 1000:1

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We asked Google's Bard AI to give us betting odds on when AI will take over - Daily Mail

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FDAs OTP Super Office on Track to Fill 500 Positions – BioSpace

Pictured: Sign in front of FDA building/iStock, JHVEPhoto

The director of the FDAs Center for Biologics Evaluation and Research (CEBR) Peter Marks said hes reasonably comfortable with the progress being made to fill up to 500 vacancies at the agencys Office of Therapeutic Products (OTP).

The OTP is well into the reorganization process. Most of the leadership, but not everyone, has been filled now in terms of office heads, Marks told BioSpace.

The OTP was established in March 2023 to deal with the ever-increasing pace of cell and gene therapies. It is the first super office at CBER, with six sub-offices, 14 divisions and 33 branches. This brings the FDAs total number of super offices to three. The creation of such an office brings with it structural changes that should improve discipline alignment, increase review capacity and enhance expertise.

On July 31, CBER named Nicole Verdun as the new director of the super office, taking over from Acting Director Celia Witten. Verdun is no newcomer to the FDA. Her first agency role was that of Medical Officer in 2012 and she has held various roles since then. FDA spokesperson Paul Richards toldBioSpace that Verdun brings with her a wealth of experience from her time in CBER and the Center for Drug Evaluation and Research (CDER). Dr. Verdun played a critical leadership role in numerous issues that impact the lives of not only the American public, but also global public health.

The next piece of the puzzle, Marks said, is to find someone to head the clinical office. He said hes willing to take his time with this task because the person occupying that office will be in a very important spot in this organization.

Marks said he believes that with the super offices leadership in place, the OTP will maintain consistency in the regulatory advice it offers. Improved supervision should also mean that recommendations from junior staff will be consistent with the FDAs standards.

Industry has always been interested in us being more consistent with the advice we give them and [being] more timely, Marks said, adding that the OTP currently has a backlog of informal meetings.

The OTP also needs to hire entry- and mid-level staff to operate its sub-offices. Asked by BioSpace on progress in this regard, Marks said they will be working up to that 500 number over the next year or two. Richards added that the agency is currently in the process of filling positions that include a broad spectrum of related scientific fields and medical specialties, including a significant number of hires that will fall into advanced degree categories.

Marks said his pitch to entice new hires to join the OTP is to explain that the FDA is regulating classes of products that are at the cutting edge of science and medicine. You could perhaps read about it . . . when publications come out, but you will not get the cross-product knowledge that one can gain from accessing these portfolios of products, he said.

The OTP is also making use of hybrid and occasionally remote working environments to secure the right people.

Marks noted that the current market conditions have been relatively kind to the OTPs staffing efforts. He said that a number of physicians have recently been reevaluating their careers and started looking at alternatives to the traditional medical track. Due to a contraction in venture capital, the OTP has also been able to hire chemistry, manufacturing and control (CMC) reviewers from companies that have gone out of business.

On the other hand, staff turnover may undermine the OTPs ambitions. He noted that it takes new CMC reviewers around six months to gain competence and up to two years to become master reviewers unless they come in with ten years of industry experience.

Dont take this as a big pronouncement, he said,but Im a little worried that while traditionally people used to come to the FDA and stay for a good while, with the new environment where its so easy to change positions without even moving, we might have some more turnover.

The other challenge his team is facing is salaries. The 21st Century Cures Act has helped them hire and retain staff as it allowed the FDA to offer higher salaries than traditionally allowed for federal authorities. This reduced pay disparities with the private sector, but salaries are still not quite at the industry level. That does put us at a challenge at times, he added.

Back in 2019, the FDA expected to be approving between 10 and 20 cell and gene therapy products a year by 2025. Marks said today he would revise those numbers down a little bit, in part due to the COVID-19 pandemic and also because of the complexity of getting products through the regulatory process. Nonetheless, Marks said he hopes to be approving between 25 and 40 gene therapies annually within five years.

The OTPs six sub-offices will be structured to allow for expertise to be distributed toward where the application workload lies at any given time. Previously, people were distributed according to specialities. This meant that if the FDA was dealing with one kind of application more than another, its teams workloads would be imbalanced.

Marks said the OTPs new structure is similar to those used in a number of pharmaceutical companies that leverage project management to hold different functional areas together.

Asked about the OTPs use of artificial intelligence (AI) to help with its workload, Marks said the agency is using AI to analyze genome sequences and in some other very specific instances. It is also exploring its use for safety surveillance. Marks suspects that in the future, AI will be used more routinely across the OTPs processes.

Christoph Schwaiger is a freelance journalist based in the Netherlands. He can be reached on LinkedIn.

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FDAs OTP Super Office on Track to Fill 500 Positions - BioSpace

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Ethereum’s Vitalik Buterin: Crypto Community Never Really Respected Sam Bankman-Fried – Decrypt

Ethereum co-founder Vitalik Buterin said the crypto community had reservations about Sam Bankman-Fried and FTX from the beginning, despite Bankman-Fried's high profile in the mainstream media as an industry leader.

"I think a lot of people have this misconception that everybody deeply respected Sam and that he caught the entire ecosystem by surprise," Buterin said in a podcast interview with Sriram Krishnan and Aarthi Ramamurthy. I think it is true that nobody expected a literal $8 billion blow up, but if you're looking at Ethereum influencers like Anthony Sassano, a lot of them disrespected him and FTX from the beginning."

Krishnan and Aarthi interview founders, CEOs, and film makers on their eponymous podcast, which featured Buterin last month.

Buterin went on to explain that many in the crypto ecosystem were suspicious of Bankman-Fried because he seemed unable to articulate a coherent vision for why cryptocurrency technology was valuable.

"He was just not able to articulate a vision of why crypto was goodhe just clearly saw it as purely a business opportunity," Buterin recalled. "It's like, 'Oh, hey, crypto is this thing where you can make money.'"

Buterin contrasted Bankman-Fried's outlook with the cypherpunk values and decentralization goals that initially animated Bitcoin, Ethereum and other blockchain projects, saying the disgraced entrepreneur was just "regurgitating other people's perspectives of 'disintermediation is good, creating more open markets is good'things that have been said by influencers for years."

"He just, I think, never really struck the community as a person who deeply believed it," he said. "That more than anything else might really be the cause of the mistrust that existed already."

The Ethereum founder also touched on the rapid progress of artificial intelligence systems like ChatGPT, expressing optimism about their potential to augment human creativity rather than fully replace human jobs and talents.

"I think one of the positive aspects of this is that I think it's a good example of how, instead of AI killing 30% of the jobs, which would be catastrophic and terrible, it's like, AI is killing 30% of your job, which is like actually an amazing time saver," Buterin said.

He acknowledged that more jobs will be lost as AI approaches full human capabilities, but that for now, AI is something to be embraced.

"At this stage one, the last section of the sprint's to human level AI, that aspect of things is interestingit's empowering people with more than replacing people, at least so far," Buterin said.

He also suggested that powerful AI tools like image generators could help individual creators make films and other artistic works without the need for an expensive Hollywood-style production.

"The thing happening that we don't want to see is artists getting replaced; the thing that I wants to see is an author, instead of just being able to write a novel, also being able to personally make a movie," Buterin said. "I would want to see the cost of making a movie go down from $100,000 to one person with basically just his creativity and a couple of months with an AI platform."

In his view, disrupting Hollywood would be a good thing.

"We get away from all of these horrible remixes, like, Marvel fights King Kong with a touch of Star Trek versus Star Wars on the side, " he said. "Get to actual real stories reflecting different people's values."

"That enhancement of existing individual creativity, that excites me," Buterin told his hosts.

Indeed, the Ethereum founder positioned AI as one of the most significant developments in all of history.

"This human to superhuman AI transition, that level of transition, I would argue has only happened basically three or four times in the history of the Earth," he said.

But Buterin also acknowledged the need for more research and potentially some limited regulation around advanced AI to address possible risks down the line. He emphasized that any rules should be narrowly targeted rather than sweeping bans that would hinder innovation.

"I see these really compelling arguments from the AI risk people. But then, like, we have a yet a long, multi 100 year history of people predicting all kinds of really awful consequences to the next wave of technology. What's happened, over and over again, for centuries, is we adapt."

Editors note: This article was written with the assistance of AI. Edited andfact-checkedbyRyanOzawa.

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Ethereum's Vitalik Buterin: Crypto Community Never Really Respected Sam Bankman-Fried - Decrypt

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Ethereum Co-founder Vitalik Buterin Shares Insights on Sam Bankman-Fried’s Reputation – Cryptonews

Source: ShutterStock

Ethereum co-founder Vitalik Buterin has revealed that a larger section of the crypto community did not respect Sam Bankman-Fried as depicted by the mainstream media.

Buterin has been a long critic of Bankman Fried since the collapse of the latters digital asset exchange, FTX, and has made new revelations concerning the matter.

Speaking in a podcast interview with Sriram Krishnan and Aarthi Ramamurthy, Buterin spoke on the reputation of SBF, how the sector continues to recover from the infamous scandal, and the growth of Artificial Intelligence (AI).

According to Buterin, the crypto industry had reservations about SBF from the beginning although no one expected $8 billion to go into thin air.

I think a lot of people have this misconception that everybody deeply respected Sam and that he caught the entire ecosystem by surprise but if you're looking at Ethereum influencers like Anthony Sassano, a lot of them disrespected him and FTX from the beginning."

The main reason for Buterins judgment was SBFs inability to project the cause of cryptocurrencies and related technologies without financial benefits.

He was just not able to articulate a vision of why crypto was goodhe just clearly saw it as purely a business opportunity. It's like, 'Oh, hey, crypto is this thing where you can make money, he added.

Recall that after the collapse of FTX, Buterin noted that people were mostly drawn to the marketing of FTX which he compared to the 1930 dictators adding that cryptocurrencies are more than the lifestyle and brands of the company.

Buterin also spoke on the rapid development of AI in several industries including cryptocurrencies hailing the level of adoption so far.

According to him, AI would help human capabilities in the workspace and should be embraced at this stage citing the example of ChatGPT.

"I think one of the positive aspects of this is that I think it's a good example of how, instead of AI killing 30% of the jobs, which would be catastrophic and terrible, it's like, AI is killing 30% of your job, which is an amazing time saver.

He touched on the ability of AI to disrupt the creative space including the production of movies in Hollywood. Although he stated that he doesnt want to see artists get replaced, he added that he would love to see an author easily produce a movie with the numerous tools provided by AI.

I would want to see the cost of making a movie go down from $100,000 to one person with basically just his creativity and a couple of months with an AI platform."

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Ethereum Co-founder Vitalik Buterin Shares Insights on Sam Bankman-Fried's Reputation - Cryptonews

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Vitalik Buterin reveals Crypto Community Never respected SBF – Crypto Times

The co-founder of Ethereum, Vitalik Buterin said that the crypto community had reservations about Sam Bankman-Fried and his cryptocurrency exchange, FTX. But the mainstream media paid attention to him as an industry leader due to his high-profile image.

Recently, Buterin had a podcast interview with Sriram Krishnan and Aarthi Ramamurthy. In an interview, he said, I think a lot of people have this misconception that everybody deeply respected Sam and that he caught the entire ecosystem by surprise,

I think it is true that nobody expected a literal $8 billion blow up, but if youre looking at Ethereum influencers like Anthony Sassano, a lot of them disrespected him and FTX from the beginning, he added.

Buterin continued by saying that many people in the cryptocurrency community had doubts about Bankman-Fried since he seemed to have a clear vision of why cryptocurrency technology was valuable.

He was just not able to articulate a vision of why crypto was goodhe just clearly saw it as purely a business opportunity, Buterin recalled. Its like, Oh, hey, crypto is this thing where you can make money.'

Buterin differed Bankman-Frieds outlook with the foundational principle of cypherpunk ideology and decentralization goals which support projects like Bitcoin and Ethereum, Buterin underscores a misalignment in values.

He just, I think, never really struck the community as a person who deeply believed it, he said. That more than anything else might really be the cause of the mistrust that existed already.

The interview clarifies the complexity of the cryptocurrency industry, where well-known people and initiatives can generate conflicting responses from the community. Buterin also gives a deeper understanding of the ethos and values of the crypto space which is essential for building trust.

Also Read: Unseen Portrait of Vitalik Buterin Auction as NFT

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Vitalik Buterin reveals Crypto Community Never respected SBF - Crypto Times

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Argentina opens investigation into Worldcoin amid the growing … – Cryptopolitan

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The government of Argentina has informed Worldcoin that it has launched an investigation into its data collection activities in the country. The Public Information Access Agency (AAIP), the countrys data regulator, sent a letter to the Worldcoin Foundation requesting information on how the organization handles the personal information of Wordcoin users. Argentina has had it Read more

The government of Argentina has informed Worldcoin that it has launched an investigation into its data collection activities in the country. The Public Information Access Agency (AAIP), the countrys data regulator, sent a letter to the Worldcoin Foundation requesting information on how the organization handles the personal information of Wordcoin users.

Recently, the government of Argentina announced that it is investigating how Worldcoin [WLD], the blockchain project founded by OpenAIs Sam Altman, handles personal data.

Last week, Daniel Monastersky, a partner at Data Governance Latam and the Director of the Centre for Studies in Cybersecurity and Data Protection at the CEMA University in Buenos Aires, submitted a complaint to the Agency for Access to Public Information of Argentina (AAIP). AAIP is an Argentine data auditor organization.

The AAIP stated its intention to investigate the security protocols in place to protect the privacy of Argentine Worldcoin users.

According to the agency, the case has gained notoriety in recent weeks due to the practice of scanning the faces and irises of numerous individuals in exchange for monetary compensation at various locations in Buenos Aires City and the provinces of Buenos Aires, Crdoba, Mendoza, and Rio Negro.

According to the AAIP, a company like Worldcoin is required to register with the AAIP, provide information about its data processing policy, and specify the reason for collecting sensitive data and the length of time it will be stored.

In addition, the agency requires information regarding the security and confidentiality measures implemented to protect sensitive data. The AAIP has not confirmed whether or not Worldcoin conforms to the standards.

Worldcoin has recently been scrutinized by various administrations. Kenyas Ministry of the Interior suspended Worldcoins operations last week, and on Saturday, Kenyan police raided Worldcoins Nairobi warehouse, seizing documents and machinery. Worldcoins verification operations in Kenya have been suspended since August 2.

Sam Altman, one of the co-founders of the Worldcoin project, has stated publicly that its goal is to register 2 billion people. However, the project has gained opposition in several countries due to its intrusive personal data requirements, such as scanning the irises of users to verify their identities.

Argentina is the most recent nation to investigate the operations of the Worldcoin Foundation. Additionally, French and Bavarian data regulators are on the cutting edge of data treatment procedures.

Critics contend that the companys disclaimer regarding biometric data raises concerns regarding the lack of control consumers have over the subsequent use of their data.

Argentina requests that the organization detail the security and confidentiality measures it employs to safeguard the personal information of Argentine citizens.

Vitalik Buterin, the co-founder of Ethereum [ETH], previously expressed his thoughts on the project. He stated that the privacy and moral concerns expressed about the project could be legitimate. However, he also emphasized the significance of the projects proof of personhood because it appeared to solve the spamming issue.

ZachXBT, a prominent on-chain investigator, accused Worldcoin of exploiting individuals from developing nations. ZachXBT stated that the projects verification procedure could result in the creation of black-market accounts.

The value of WLD jumped to $2.15 immediately following its release on July 24. However, since then, it has decreased by nearly 20%. At press time, WLD traded at $1.75 per share.

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Argentina opens investigation into Worldcoin amid the growing ... - Cryptopolitan

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5 Cryptos Forecasted to Burst in 2023: Ethereum, InQubeta, Filecoin, Aave, and Cardano | Bitcoinist.com – Bitcoinist

Discover the five cryptocurrencies poised for explosive growth in 2023. From Ethereums decentralized transformation to InQubetas unique AI investment platform, these are the projects at the forefront of the crypto landscape.

Learn about the potential of Filecoins secure storage, Aaves decentralized lending, and Cardanos blockchain interoperability. Stay ahead of the curve in the thrilling world of crypto investment with these rising stars.

InQubeta, the pioneering crypto crowdfunding platform, is transforming the landscape of AI investment. By leveraging blockchain technology and $QUBE tokens, the platform allows fractional investment in AI startups through deflationary ERC20 tokens. InQubetas NFT marketplace further enhances the investment process, providing AI startups with a platform to raise funds and offer reward and equity-based NFTs.

Unlike traditional investment methods, InQubetas approach democratizes AI investment, making it accessible to all. The 2% buy and sell tax that is funneled to a burn wallet ensures the value of $QUBE tokens grows over time. Additionally, a 5% sell tax contributes to a dedicated reward pool, allowing investors to earn rewards by staking their tokens.

By bridging the gap between investors and AI startups, InQubeta fosters a community-driven ecosystem where everyone can contribute to the growth and success of AI technology. The platforms governance token, $QUBE, empowers token holders to propose, discuss, and vote on platform-related decisions, ensuring a transparent and inclusive decision-making process.

Visit InQubeta Presale

Ethereum, often referred to as the world computer, is a decentralized blockchain platform that has paved the way for smart contracts and decentralized applications (DApps). Created by Vitalik Buterin in 2015, Ethereum has become the go-to platform for developers seeking to build and deploy DApps across various industries.

Unlike Bitcoin, which primarily serves as a digital currency, Ethereums main focus is on programmability. Smart contracts, self-executing contracts with predefined rules and conditions, enable developers to create decentralized applications that run autonomously and transparently without any downtime or third-party interference.

Through Ethereums Virtual Machine (EVM), developers can write code in several programming languages, making it highly accessible to a broad developer community. The platforms native cryptocurrency, Ether (ETH), is used to pay for transaction fees and computational services, essential for securing the network and incentivizing miners.

Filecoin is a decentralized storage network designed to provide a secure, efficient, and reliable solution for data storage and retrieval. Created by Juan Benet, the Filecoin protocol leverages blockchain technology to create a marketplace where users can buy and sell storage space and incentivize network participants to contribute their unused hard drive space.

The networks core concept revolves around Proof-of-Replication (PoRep) and Proof-of-Spacetime (PoSt), ensuring that miners store the promised data and make it available when requested. These protocols make Filecoin highly resistant to data loss and tampering, creating a trustworthy and censorship-resistant storage ecosystem.

Filecoins unique combination of blockchain technology and decentralized storage solutions has found application in various fields, including data storage for decentralized applications, content distribution, and long-term data archiving. It empowers users to take control of their data, promoting privacy and data ownership in an era where centralized data storage has raised concerns about security and control.

Aave is a decentralized finance (DeFi) protocol built on the Ethereum blockchain, providing users with lending and borrowing opportunities in a trustless and transparent environment. Founded by Stani Kulechov, Aave (meaning ghost in Finnish) originally started as ETHLend and later evolved into one of the leading DeFi platforms in the market.

Aave allows users to deposit their assets into liquidity pools, from which other users can borrow by collateralizing their own assets. The protocol dynamically adjusts interest rates based on supply and demand, ensuring that borrowers and lenders interact at competitive rates.

One of Aaves standout features is the introduction of flash loans, enabling users to borrow assets without collateral as long as the loan is repaid within the same transaction. This innovative feature has opened up new possibilities for arbitrage opportunities and efficient capital allocation within the DeFi space.

Cardano, founded by Charles Hoskinson, is a third-generation blockchain platform that places a strong emphasis on research-driven development and peer-reviewed academic rigor. Launched in 2017, Cardano has since grown into a platform known for its scalable and sustainable approach to blockchain technology.

Cardanos unique architecture is based on two layers: the Cardano Settlement Layer (CSL) for handling transactions and the Cardano Computational Layer (CCL) for executing smart contracts and applications. This separation allows for more flexibility in system upgrades and enhances security and scalability.

The platform uses a proof-of-stake consensus mechanism, allowing users to participate in the networks security and governance through staking. Its native cryptocurrency, ADA, is used for transactions, staking, and participating in the platforms governance model.

InQubeta, Ethereum, Filecoin, Aave, and Cardano are poised to make significant strides in 2023, transforming the world of AI investment and blockchain technology. As they continue to grow and invent, investors can look forward to a future where AI technology thrives, and new possibilities emerge through the power of crypto and blockchain.

Visit InQubeta Presale

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Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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5 Cryptos Forecasted to Burst in 2023: Ethereum, InQubeta, Filecoin, Aave, and Cardano | Bitcoinist.com - Bitcoinist

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