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The witnesses painted a portrait of Mr. Bankman-Fried, 31, as a controlling boss who directed them to commit fraud. She was apprehensive about the move, she said, because she knew that would mean borrowing $1 billion in FTX customer funds for the transaction. “That’s OK, I think this is really important, we have to get it done,” Mr. Bankman-Fried told Ms. Ellison, according to her testimony. At Mr. Bankman-Fried’s urging, Mr. Sun said, he ran through a few theoretical options to justify the borrowing and spending of FTX customer money. But Mr. Sun, who testified after securing an agreement that prosecutors would not pursue charges against him, said he had once again told Mr. Bankman-Fried that none of those options were supported “by the facts.” Mr. Bankman-Fried responded by saying “something like, ‘Got it,’” Mr. Sun testified.

Persons: Sam Bankman, Fried, Bankman, Caroline Ellison —, Adam Yedidia, Mr, Yedidia, FTX, ” Caroline Ellison Ms, Ellison, Ms, Gary Wang Mr, Wang, ”, coder, Nishad Singh Mr, Singh, Gabe, Gabe Bankman, ” Mr, Prosecutors, Barbara Fried, Nishad Singh, Sun, ’ Organizations: Alameda Research, Massachusetts Institute of Technology, Stanford, Mr, Prosecutors, America Locations: Bahamas, Alameda, Binance, Pandemics

☆ World Bank Eyes Speeding up Loan Approvals Amid Bold Overhaul
▼ + stars: | 2023-11-02 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +3 min

Disbursements currently take an average of 27 months from the time the bank gets a loan request. Adding resources to the implementation stage of projects backed by the bank is another way of reducing the timeframe of disbursements, Mountfield said. The World Bank has launched a broader reform process that includes stretching its balance sheet as international threats from geopolitical tensions to global warming pile pressure on vulnerable nations. The United States, the bank's largest shareholder, has been urging the bank for months to take bolder and faster steps to free up resources. The study, carried out by international finance analytics firm Risk Control, found the bank's two main lending arms, the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), have "significant headroom" to boost lending.

Persons: Rosario, Elisa Martinuzzi, Ed Mountfield, Mountfield, Disbursements, Jorgelina, Christina Fincher Organizations: Elisa Martinuzzi LONDON, Bank, Operations, Country Services, World Bank, Reuters, AAA, Rockefeller Foundation, International Bank for Reconstruction, International Development Association, IDA Locations: London, United States

Sunak organized the first-ever AI Safety Summit as a forum for officials, experts and the tech industry to better understand “frontier” AI that some scientists warn could pose a risk to humanity’s very existence. Sunak has said that the U.K.'s approach should not be to rush into regulation but to fully understand AI first. Political Cartoons View All 1230 ImagesShe announced a new U.S. AI safety institute to draw up standards for testing AI models for public use. Sunak had proposed his own AI safety institute, with a similar role, days earlier. Musk is among tech executives who have warned that AI could pose a risk to humanity's future.

Persons: Kamala Harris, Rishi Sunak, Sunak, “, Harris, Antonio Guterres, Ursula von der Leyen, He's, Elon Musk, Musk, ” Musk, ” Sunak Organizations: — U.S, British, Safety, United Nations, European Union, U.S Locations: BLETCHLEY, England, London, China, South Korea, France, U.S, United Nations

☆ Apple hints at an AI-focused future and ‘scary fast’ upgrades
▼ + stars: | 2023-11-01 | by ( Samantha Kelly | ) edition.cnn.com time to read: +4 min

The focus of the event, which featured the tagline “scary fast,” was Apple’s new custom-made M3 chips, the M3, M3 Pro and M3 Pro Max. The chips will ship with Apple’s latest MacBook Pro and iMac lineup. “This deep integration is something only Apple can deliver, and we never stop innovating.”At a time companies such as Microsoft, Google and Meta have openly discussed their plans for an AI future, Apple has been less forthcoming. Apple said it shipped about 26 million Macs in 2022, making up 9.1% of the overall market (up from 7.8% the year prior). At the same time, the overall PC market shipped about 292 million computers the same year, down 15% from the year before.

Persons: Tim Cook –, –, they’re, ” Cook, Apple, ”, Dipanjan Chatterjee, Forrester, “, Tim Cook, Chatterjee, David McQueen, ” McQueen, Kieren Jessop Organizations: CNN, Apple, Max, Microsoft, Google, Meta, Lenovo, Dell, HP, IDC Research, Apple Music, ABI Research, Intel, Qualcomm, AMD, NVIDIA, MacBook Locations: Cupertino , California, China

☆ Everything you're hearing right now about AI wiping out humans is a big con
▼ + stars: | 2023-11-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

Many are shrugging off the supposed existential risks of AI, labeling them a distraction. They argue big tech companies are using the fears to protect their own interests. The timing of the pushback, ahead of the UK's AI safety summit and following Biden's recent executive order on AI, is also significant. More experts are warning that governments' preoccupation with the existential risks of AI is taking priority over the more immediate threats. Merve Hickok, the president of the Center for AI and Digital Policy, raised similar concerns about the UK AI safety summit's emphasis on existential risk.

Persons: —, You've, there's, Yann LeCun, Altman, Hassabis, LeCun, LeCun's, OpenAI's Sam Altman, Anthropic's Dario Amodei, Andrew Ng, hasn't, Anthropic, Aidan Gomez, Merve Hickok, Hickok, Rishi Sunak, Michelle Donelan Organizations: Service, Google, CNBC, Stanford University, Australian Financial, Guardian, Center, AI

☆ Sam Altman warns AI could kill us all. But he still wants the world to use it
▼ + stars: | 2023-10-31 | by ( Samantha Kelly | ) edition.cnn.com time to read: +10 min

New York CNN —Sam Altman thinks the technology underpinning his company’s most famous product could bring about the end of human civilization. As many as 300 million full-time jobs around the world could eventually be automated in some way by generative AI, according to Goldman Sachs estimates. Challenges aheadWhen starting OpenAI, Altman told CNN in 2015 he wanted to steer the path of AI, rather than worrying about the potential harms and doing nothing. OpenAI CEO Sam Altman addresses a speech during a meeting at Station F in Paris on May 26. Sam embodies that for AI right now.”The world is counting on Altman to act in the best interest of humanity with a technology by his own admission could be a weapon of mass destruction.

Persons: Sam Altman, OpenAI’s ChatGPT, Altman, ChatGPT, Goldman Sachs, ”, Patrick Semansky, ‘ Kevin Bacon, Mairo, ” Altman, Kamala Harris, Joe Biden, OpenAI, Elon Musk, Kyunghyun Cho, JP Lee, Greg Brockman, SeongJoon Cho, Kevin Bacon, Aaron Levie, “ I’ve, he’s, ” Levie, Bern Elliot, “, Rowan Curan, Forrester, –, Biden, Joel Saget, Emily Bender, Margaret O’Mara, O’Mara, Gates, Jobs Organizations: New, New York CNN, World Economic, Privacy, Technology, Capitol, Silicon, White House, New York University, Softbank Ventures, Bloomberg, Getty, CNN, Gartner Research, Israeli Defense Force, University of Washington, Laboratory Locations: New York, Washington ,, Washington, Valley, Silicon, Silicon Valley, Milan, Italy, Softbank Ventures Asia, Seoul, South Korea, Big Sur, Paris, AFP, Manhattan

☆ Egypt’s pyramids host breathtaking new art exhibit
▼ + stars: | 2023-10-30 | by ( Francesca Perry | ) edition.cnn.com time to read: +7 min

In one project, a new pyramid structure emerges in wicker; in another, glass sculptures appear to make the ancient pyramids float on water. Organized by Nadine Abdel Ghaffar, the founder and curator of Cairo-based arts firm Art D’Égypte, the event aims to celebrate ancient Egyptian culture through contemporary creativity. “I’ve always been fascinated by the Pyramids of Giza and the entire ancient Egyptian culture — the mysticism around it, the enigmas,” Zeta said. Courtesy CulturVator - Art D'E“Translucent Pyramid” by Saudi artist Rashed Al-Shashai, adds a new, 6m-tall pyramid to the plateau. Conceived as seemingly archaeological fragments of a labyrinth, each one is decorated with perforated motifs taken from historic diagrams of the ancient Egyptian labyrinth.

Persons: Nadine Abdel Ghaffar, D’Égypte, Artur Lescher, ”, Pilar Zeta, I’ve, ” Zeta, Carole A, Sabine Marcelis, ” Marcelis, Stephan Breuer French, Glass, Costas Varotsos, Rashed Al, Sam Shendi, Azza Al Qubaisi, D'E Rashid Al Khalifa, JR, – Organizations: CNN, UNESCO, Bahraini, JR Locations: Giza, Egypt, Cairo, Brazil, Mexico, Argentinian, French, Saudi

The witnesses have painted a portrait of Mr. Bankman-Fried, 31, as a controlling boss who directed them to commit fraud. “That’s OK, I think this is really important, we have to get it done,” Mr. Bankman-Fried told Ms. Ellison, according to her testimony. At Mr. Bankman-Fried’s urging, Mr. Sun said, he ran through a few theoretical options to justify the borrowing and spending of FTX customer money. But Mr. Sun, who testified after securing an agreement that prosecutors would not pursue charges against him, said he had once again told Mr. Bankman-Fried that none of those options were supported “by the facts.” Mr. Bankman-Fried responded by saying “something like, ‘Got it,’” Mr. Sun testified. Prosecutors then played a clip from an interview that Mr. Bankman-Fried gave ABC’s “Good Morning America” days before FTX filed for bankruptcy in November.

☆ Google Brain cofounder says Big Tech companies are lying about the risks of AI wiping out humanity because they want to dominate the market
▼ + stars: | 2023-10-30 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Big Tech is lying about some AI risks to shut down competition, a Google Brain cofounder has said. Some large tech companies didn't want to compete with open source, he added. AdvertisementAdvertisementA leading AI expert and Google Brain cofounder said Big Tech companies were stoking fears about the technology's risks to shut down competition. AdvertisementAdvertisementIn May, AI experts and CEOs signed a statement from the Center for AI Safety that compared the risks posed by AI with nuclear war and pandemics. Any necessary AI regulation should be created thoughtfully, he added.

Persons: Andrew Ng, —, Sam Altman, It's, Demis Hassabis, Dario Amodei, Ng Organizations: Big Tech, Australian Financial, Service, Google, Stanford University, Center, AI Safety, European

☆ Nipah virus outbreak in India renews calls to protect bat roosts
▼ + stars: | 2023-10-30 | by ( Sreekanth Sivadasan | ) www.reuters.com time to read: +15 min

Because spillover risk is concentrated in lower income countries in the tropical south, the cost of preventing another pandemic falls squarely on nations that can least afford it. To that end, federal and state officials say they are talking about ways to protect bat habitats in areas where spillover risk is high. Investigators still don’t know precisely how the virus jumped from bats to people in each of the four Kerala outbreaks dating back to 2018. BAT MAGNETS: Bananas and areca nuts grow on land that was home to the first patient who died in a recent Nipah outbreak in Kerala, India. The state would need to act to protect trees and bat roosts, they said.

Persons: Subrat Mohapatra, ” Mohapatra, coronaviruses, Bhupender Yadav, Veena George, ”, Nigel Sizer, Biden, Sizer, Pamela Hamamoto, Muhammad Ali, Pinarayi Vijayan, Sreehari Raman, “ I've, ” Raman, Kerala Agricultural University Dean P.O, Nameer, Sajith Kizhakkayil, “, ” Vijayan, Unni Vengeri, Francisco Pérez, Sreekanth Sivadasan, Rupam Jain, Deborah J, Nelson, Ryan McNeill, Allison Martell, Sam Hart, Simon Newman, Janet Roberts, Feilding Organizations: World Health Organization, Reuters, WHO, Bank, Fund, European, European Union, BAT, Kerala Agricultural University, Research, United, Coalition, European Commission Locations: INDIA, India’s Kerala, India’s, Asia, Kerala, Kozhikode, Geneva, U.S, European, Malaysia, Bangladesh, India, United Nations, Maruthonkara, Changaroth, Kerala’s midland, Berlin

The witnesses have painted a portrait of Mr. Bankman-Fried, 31, as a controlling boss who directed them to commit fraud. She was apprehensive about the move, she said, because she knew that would mean borrowing $1 billion in FTX customer funds for the transaction. “That’s OK, I think this is really important, we have to get it done,” Mr. Bankman-Fried told Ms. Ellison, according to her testimony. At Mr. Bankman-Fried’s urging, Mr. Sun said, he ran through a few theoretical options to justify the borrowing and spending of FTX customer money. Prosecutors then played a clip from an interview that Mr. Bankman-Fried gave ABC’s “Good Morning America” days before FTX filed for bankruptcy in November.

AI developers, who "don't always fully understand what their models could become capable of," should not be “marking their own homework,” Sunak said. Political Cartoons View All 1218 ImagesHowever, “the UK’s answer is not to rush to regulate,” he said. Sunak's U.K. AI Safety Summit is focused on the risks from so-called frontier artificial intelligence - cutting edge systems that can carry out a wide range of tasks but could contain unknown risks to public safety and security. One of the summit's goals is to “push hard” for the first ever international statement about the nature of AI risks, Sunak said. Sunak also announced plans to set up an AI Safety Institute to examine, evaluate and test new types of artificial intelligence.

Persons: Rishi Sunak, it's, Sunak, shouldn’t, ” Sunak, ” Organizations: British, “, Safety, AI, United Nations Locations: State

☆ The ultra-rich are obsessed with their doomsday bunkers — but Sam Altman joked they won't really matter if there's an AI apocalypse
▼ + stars: | 2023-10-20 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +4 min

However, one of tech's buzziest bros, Sam Altman, says he has "structures" — but not a bunker. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementDoomsday predictions like nuclear war, climate change, or a zombie apocalypse have ratcheted up the ultra-rich's obsession with luxury bunkers. However, one Silicon Valley tech bro joked that these bunkers may not be useful in the case of an AI apocalypse. AdvertisementAdvertisement"I have like structures, but I wouldn't say a bunker," Altman added without clarifying what these structures were.

Persons: buzziest, Sam Altman, AGI, —, bro, Altman, Joanna Stern, Altman —, Yorker —, Clyde Scott, Douglas Rushkoff, Ivanka Trump, Tom Brady, Jeff Bezos, Rushkoff Organizations: Service, WSJ, Yorker, Google, Bloomberg, Federal Civil Defense Administration Locations: South Dakota, Poland, America

☆ Slowing down on AI will cause preventable deaths — and that's a form of murder, says Marc Andreessen
▼ + stars: | 2023-10-17 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Billionaire investor Marc Andreessen posted a mammoth 5000-word techno-optimist manifesto on Monday. Deaths that were preventable by the AI that was prevented from existing is a form of murder," wrote Andreessen. Deaths that were preventable by the AI that was prevented from existing is a form of murder," wrote Marc Andreessen. "Our enemies are not bad people – but rather bad ideas, "Andreessen wrote. Andreessen and Andreessen Horowitz did not immediately respond to requests for comment from Insider, sent outside regular business hours.

Persons: Marc Andreessen, —, Andreessen, Elon Musk, Sam Altman —, Andreessen Horowitz Organizations: Service, Forbes

☆ Sam Bankman-Fried directed political donations despite $13 bln 'hole', ex-colleague testified
▼ + stars: | 2023-10-16 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +5 min

Singh said another FTX executive had told him the deals were meant to help spur user growth. 'I WAS A STRAW DONOR'Bankman-Fried's trial, which started on Oct. 3, has so far focused largely on how prosecutors say Bankman-Fried allowed Alameda to plunder FTX customer funds. Singh gave jurors a window into Bankman-Fried's political operation. He said another FTX executive, Ryan Salame, had access to his bank account to make donations via wire transfers. "I knew that the money for those donations was coming from customer funds."

Persons: Sam Bankman, Andrew Kelly, Fried, Nishad Singh, Bankman, Singh, Tom Brady, Gisele Bundchen, Steph Curry, Larry David, Katy Perry, Orlando Bloom, Michael Kives, Hillary Clinton, FTX, Gary Wang, Caroline Ellison, Alameda's, Gabriel, Gabriel Bankman, Ryan Salame, District Judge Lewis Kaplan, Luc Cohen, Matthew Lewis, Stephen Coates Organizations: FTX, Manhattan, REUTERS, Alameda Research, U.S, Democratic, Prosecutors, Alameda, Miami Heat's, District, Monday, Thomson Locations: New York City, U.S, Alameda, Fried, . U.S, New York

IMF Managing Director Kristalina Georgieva did not mention the new conflict at opening events. The inability to respond extended to chair's statements issued by the Group of 20 major economies and the IMF and World Bank steering committees, which failed to mention the conflict. "You know, without peace, it's hard for people to get stability, growth, look after their children, get jobs," he said. But conflicts remain the biggest challenge to the global economy, said Josh Lipsky, a former IMF official who directs the Atlantic Council's GeoEconomics Center. "Geopolitical shocks are economic shocks now and economic shocks are geopolitical shocks - and they're trying to detach the two."

Persons: Kristalina Georgieva, that's, Rachel Nadelman, Joe Biden, China's Xi, Ajay Banga, Josh Lipsky, Andrea Shalal, David Lawder, Giles Elgood Organizations: Global, International Monetary Fund, World Bank, IMF, West Bank, Reuters, Research Center, Group, GeoEconomics, Thomson Locations: MARRAKECH, Morocco, Israel, Gaza, Lebanon, Ukraine, United States, China, Bali, Africa

The Group of 20 major economies did reach consensus on an official communique but omitted any mention of the Israel-Hamas war. Senior World Bank Group officials were more pointed in a statement to staff, saying they were "shocked and appalled by the unprecedented escalation of violence in Israel and Gaza." "We condemn terrorism in all forms, including the abhorrent targeting of innocent civilians and kidnapping," the leaders of the World Bank, the International Finance Corp and the Multilateral Investment Guarantee Agency, said in an internal statement seen by Reuters. "Geopolitical shocks are economic shocks now and economic shocks are geopolitical shocks - and they're trying to detach the two." Reporting by Andrea Shalal and David Lawder; Editing by Giles Elgood and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Kristalina Georgieva, that's, Rachel Nadelman, Joe Biden, China's Xi, Ajay Banga, Josh Lipsky, Andrea Shalal, David Lawder, Giles Elgood, Stephen Coates Organizations: Global, International Monetary Fund, World Bank, IMF, West Bank, Reuters, Research Center, U.S, Treasury, Bank Group, International Finance Corp, Multilateral Investment Guarantee Agency, GeoEconomics, Thomson Locations: MARRAKECH, Morocco, Israel, Gaza, Lebanon, Ukraine, United States, China, Africa

[1/5] Palestinians walk past piles of garbage that threaten to spark an environmental catastrophe, amid the ongoing Israeli-Palestinian conflict, in Khan Younis in the southern Gaza Strip. Two residents in Khan Younis, in the southern Gaza Strip, volunteered to fill plastic containers with water to distribute among displaced families. Hamas said on Monday that Israel had not resumed water supplies to Gaza despite pledging to do so. "Now, we're filling in salt water, I'm ready to drink from the salt water - what else can we do?" Even before the latest conflict erupted and Israel cut electricity and fresh water supplies to Gaza, 90 percent of the water was undrinkable, according to the Palestinian Water Authority.

Persons: Khan Younis, Mohammed Salem, Philippe Lazzarini, Israel, Israel Katz, Mohammad Saqr, Saqr, Mohammad Hadhoud, Michael Georgy, Janet Lawrence Organizations: Palestinian, Hamas, UNRWA, Israeli Energy, Palestinian Water Authority, Thomson Locations: Gaza, GAZA, Israeli, Khan, Israel, kibbutzes, Egypt, Palestinian

China, whose economy is now three times the size it was in 2010, continued to push for more IMF shares. IMFC members agreed to add a third IMF Executive Board chair to represent African countries, a key sweetener for the U.S. "equi-proportional quota plan. Pan said China supported this move but it was a separate issue from the shareholding formula. It also called for the IMF's Executive Board to propose options for changes to the shareholding formula by June 2025. This would accelerate the next five-year review of quotas and meet IMF Managing Director Kristalina Georgieva's call for a deadline on adjusting its shareholding to preserve its credibility.

Persons: Nadia Calvino, Kristalina Georgieva, Pan Gongsheng, Pan, Kristalina, Georgieva, David Lawder, Andrea Shalal, Sharon Singleton, Christina Fincher, Franklin Paul, Diane Craft Organizations: Monetary, Financial, International Monetary Fund, World Bank, Monetary Fund, IMF, Fund, The U.S . Treasury, People's Bank of China, Beijing, IMF's, U.S . Treasury, United Arab, Thomson Locations: Marrakech, Morocco, MARRAKECH, U.S, China, CHINA, The U.S, India, Ukraine, Israel, Gaza, United Arab Emirates

☆ Monthly Meeting Q&A with Jim Cramer on everything from tech to health care to industrials
▼ + stars: | 2023-10-12 | by ( Paulina Likos | ) www.cnbc.com time to read: +13 min

(Todd) Jim Cramer: I believe that the rally in oil was a short squeeze that is now over. (John) Jim Cramer: FTC chair Lina Khan does not have a strong antitrust case against Amazon (AMZN) – her arguments don't make sense. (Norman) Jim Cramer: We like to have something related to the housing cycle that could make money. (James) Jim Cramer: This is more of an art, not a science. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jeff Marks, Jim Cramer, It's, Todd, Joe Biden, Tom Jorden, Donald, John, it's, Zev Fima, I've, Peter, Marc Benioff, Lina Khan, Khan, David, Rich Galanti, Eli Lilly, LLY, we've, Lilly, clobbered, Mounjaro, Stanley Black, Decker, that's, James, Michael Steinhardt, Rhonda, Vimal Kapur, Darius Adamczyk, Jim Organizations: Investing Club, Federal Reserve, Nvidia, Fed, Apple, Shark, ESPN, Our, Nasdaq, Amazon, Costco, Diabetes, Procter & Gamble, Honeywell, Electric, GE, Raytheon Technologies, CNBC Locations: Russia, China

☆ World Bank governors endorse 'liveable planet' vision - German minister
▼ + stars: | 2023-10-12 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

MARRAKECH, Morocco, Oct 12 (Reuters) - World Bank shareholders on Thursday endorsed further reforms and a new vision statement committing the multilateral development bank to work for "a world free of poverty on a liveable planet," German Development Minister Svenja Schulze said. "With the reform, we will make the World Bank into a better bank that uses its funds in a more targeted way," she said. "The World Bank will be able to provide more funds for poverty reduction and climate action." The World Bank would begin piloting this option for small states that are particularly affected by climate change, she said. Schulze said the bank's shareholders would push on to enact reforms and improvements at other development banks.

Persons: Svenja Schulze, Schulze, Ajay Banga, Banga, Andrea Shalal, Andrew Cawthorne, Jan Harvey, Mark Porter Organizations: World Bank, IMF, International Monetary Fund, Bank, MasterCard, Thomson Locations: MARRAKECH, Morocco, United States, Germany, France, Canada, Netherlands

☆ Fact Check: WHO did not order Biden to arrest Americans sharing ‘non-mainstream opinions’
▼ + stars: | 2023-10-10 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

The World Health Organization (WHO) did not order U.S. President Joe Biden to arrest citizens who share “non-mainstream content” online. In response to the question, “How much authority could an accord have over signatory countries? The People’s Voice did not immediately respond to Reuters request for comment. The World Health Organization (WHO) did not order U.S. President Joe Biden to arrest U.S. citizens who share non-mainstream opinions online. This article was produced by the Reuters Fact Check team.

Persons: Joe Biden, Biden, “, Margaret Harris, ”, ” Biden, ’ ”, Read Organizations: World Health Organization, WHO, UN, “ WHO, Member, States, ’ ” Reuters, Reuters, Thomson

☆ US Treasury pushing development banks for progress on next phase of reforms by April
▼ + stars: | 2023-10-08 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. U.S. Treasury Secretary Janet Yellen has been pushing for reforms to expand the World Bank's lending for a year, after an expert panel review concluded that the institutions, government shareholders and credit rating agencies were too timid about financial risks. The Treasury official said World Bank governors were expected to sign off on the new measures this week and mapped out previously unreported details on the callable capital issue, including the timetable for action. Any new proposal on treatment of callable capital will require approval by the shareholders of each of the respective multilateral development banks, bank officials have said. "You've got to work on global challenges like climate fragility and pandemics and poverty and boosting shared prosperity all at once because they are all mutually reinforcing and intertwined," the Treasury official said.

Persons: Kevin Lamarque, MDBs, Janet Yellen, You've, Andrea Shalal, Mark Porter Organizations: Department of, U.S . Treasury, REUTERS, Treasury, U.S . Treasury Department, World Bank, Bank, Reuters, Rockefeller Foundation, International Monetary Fund, Thomson Locations: Washington , U.S, MARRAKECH, Morocco, U.S, Marrakech

☆ Reid Hoffman backs 'blitzscaling' AI for the 'elevation of humanity'
▼ + stars: | 2023-10-01 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Reid Hoffman backed "blitzscaling" AI in an interview with Time. Hoffman is optimistic about AI, in contrast to other business leaders who want its development paused. AdvertisementAdvertisementThe LinkedIn co-founder and billionaire tech investor Reid Hoffman has again called for faster adoption of AI for "the elevation of humanity." Hoffman has invested in dozens of AI companies through his venture capital firm, Greylock Partners, and was an early investor in OpenAI. On the issue of how to instill AI with universal values within AI, Hoffman admitted that technology isn't neutral, but said developers could be make them as "humanity-positive" as possible in partnership with customers.

Persons: Reid Hoffman, Hoffman, —, ChatGPT, Steve Wozniak, Elon Musk Organizations: Service, Greylock Partners, New York Times Locations: Silicon, OpenAI

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