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Natural language processing: state of the art, current trends and challenges Multimedia Tools and Applications

nlp analysis

Generally, word tokens are separated by blank spaces, and sentence tokens by stops. However, you can perform high-level tokenization for more complex structures, like words that often go together, otherwise known as collocations (e.g., New York). Basic NLP tasks include tokenization and parsing, lemmatization/stemming, part-of-speech tagging, language detection and identification of semantic relationships. If you ever diagramed sentences in grade school, you’ve done these tasks manually before. Text analytics is a type of natural language processing that turns text into data for analysis.

To construct a Stanford CoreNLP object from a given set of properties, use StanfordCoreNLP(Properties props). This method creates the pipeline using the annotators given in the “annotators” property (see above for an example setting). The complete list of accepted annotator names is listed in the first column of the table above. To parse an arbitrary text, use the annotate(Annotation document) method. The use of chatbots for customer care is on the rise, due to their ability to offer 24/7 assistance (speeding up response times), handle multiple queries simultaneously, and free up human agents from answering repetitive questions.

How can AWS help with your NLP tasks?

NLP drives computer programs that translate text from one language to another, respond to spoken commands, and summarize large volumes of text rapidly—even in real time. There’s a good chance you’ve interacted with NLP in the form of voice-operated GPS systems, digital assistants, speech-to-text dictation software, customer service chatbots, and other consumer conveniences. But NLP also plays a growing role in enterprise solutions that help streamline business operations, increase employee productivity, and simplify mission-critical business processes. Merity et al. [86] extended conventional word-level language models based on Quasi-Recurrent Neural Network and LSTM to handle the granularity at character and word level. They tuned the parameters for character-level modeling using Penn Treebank dataset and word-level modeling using WikiText-103.

This human-computer interaction enables real-world applications like automatic text summarization, sentiment analysis, topic extraction, named entity recognition, parts-of-speech tagging, relationship extraction, stemming, and more. NLP is commonly used for text mining, machine translation, and automated question answering. Its goal is to

make it very easy to apply a bunch of linguistic analysis tools to a piece

of text.

Languages

A sentence that is syntactically correct, however, is not always semantically correct. For example, “cows flow supremely” is grammatically valid (subject — verb — adverb) but it doesn’t make any sense. Natural language processing (NLP) is critical to fully and efficiently analyze text and speech data. It can work through the differences in dialects, slang, and grammatical irregularities typical in day-to-day conversations. If a user opens an online business chat to troubleshoot or ask a question, a computer responds in a manner that mimics a human.

nlp analysis

By knowing the structure of sentences, we can start trying to understand the meaning of sentences. We start off with the meaning of words being vectors but we can also do this with whole phrases and sentences, where the meaning is also represented as vectors. And if we want to know the relationship of or between sentences, we train a neural network to make those decisions for us. With sentiment analysis we want to determine the attitude (i.e. the sentiment) of a speaker or writer with respect to a document, interaction or event.

White-box attacks are difficult to adapt to the text world as they typically require computing gradients with respect to the input, which would be discrete in the text case. One option is to compute gradients with respect to the input word embeddings, and perturb the embeddings. Since this may result in a vector that does not correspond to any word, one could search for the closest word embedding in a given dictionary (Papernot et al., 2016b); Cheng et al. (2018) extended this idea to seq2seq models. Others computed gradients with respect to input word embeddings to identify and rank words to be modified (Samanta and Mehta, 2017; Liang et al., 2018).

Fusion of the word2vec word embedding model and cluster analysis for the communication of music intangible cultural … – Nature.com

Fusion of the word2vec word embedding model and cluster analysis for the communication of music intangible cultural ….

Posted: Wed, 20 Dec 2023 08:00:00 GMT [source]

Companies are increasingly using NLP-equipped tools to gain insights from data and to automate routine tasks. It is a complex system, although little children can learn it pretty quickly. This process identifies unique names for people, places, events, companies, and more. NLP software uses named-entity recognition to determine the relationship between different entities in a sentence. Pragmatism describes the interpretation of language’s intended meaning.

SAS analytics solutions transform data into intelligence, inspiring customers around the world to make bold new discoveries that drive progress. But a computer’s native language – known as machine code or machine language – is largely incomprehensible to most people. At your device’s lowest levels, communication occurs not with words but through millions of zeros and ones that produce logical actions. Also, SUTime now sets the TimexAnnotation key to an

edu.stanford.nlp.time.Timex object, which contains the complete list of

TIMEX3 fields for the corresponding expressions, such as “val”, “alt_val”,

“type”, “tid”. This might be useful to developers interested in recovering

complete TIMEX3 expressions.

nlp analysis

But once it learns the semantic relations and inferences of the question, it will be able to automatically perform the filtering and formulation necessary to provide an intelligible answer, rather than simply showing you data. Natural Language Processing (NLP) is a field of Artificial Intelligence (AI) that makes human language intelligible to machines. Working in natural language processing (NLP) typically involves using computational techniques to analyze and understand human language.

Text Summarization Approaches for NLP – Practical Guide with Generative Examples

Pragmatic analysis attempts to derive the intended—not literal—meaning of language. For instance, the sentence “Dave wrote the paper” passes a syntactic analysis check because it’s grammatically correct. Conversely, a syntactic analysis categorizes a sentence like “Dave do jumps” as syntactically incorrect. The best NLP solutions follow 5 NLP processing steps to analyze written and spoken language. Understand these NLP steps to use NLP in your text and voice applications effectively. Some reported whether a human can classify the adversarial example correctly (Yang et al., 2018), but this does not indicate how perceptible the changes are.

nlp analysis

Basically, they allow developers and businesses to create a software that understands human language. Due to the complicated nature of human language, NLP can be difficult to learn and implement correctly. However, with the knowledge gained from this article, you will be better equipped to use NLP successfully, no matter your use case. Recruiters nlp analysis and HR personnel can use natural language processing to sift through hundreds of resumes, picking out promising candidates based on keywords, education, skills and other criteria. In addition, NLP’s data analysis capabilities are ideal for reviewing employee surveys and quickly determining how employees feel about the workplace.

Most of the time you’ll be exposed to natural language processing without even realizing it. Natural Language Processing (NLP) is the part of AI that studies how machines interact with human language. NLP works behind the scenes to enhance tools we use every day, like chatbots, spell-checkers, or language translators. Maybe you want to send out a survey to find out how customers feel about your level of customer service. By analyzing open-ended responses to NPS surveys, you can determine which aspects of your customer service receive positive or negative feedback.

NLP understands written and spoken text like “Hey Siri, where is the nearest gas station? ” and transforms it into numbers, making it easy for machines to understand. Now, imagine all the English words in the vocabulary with all their different fixations at the end of them. To store them all would require a huge database containing many words that actually have the same meaning. Popular algorithms for stemming include the Porter stemming algorithm from 1979, which still works well. Syntax is the grammatical structure of the text, whereas semantics is the meaning being conveyed.

  • IBM has launched a new open-source toolkit, PrimeQA, to spur progress in multilingual question-answering systems to make it easier for anyone to quickly find information on the web.
  • We are also starting to see new trends in NLP, so we can expect NLP to revolutionize the way humans and technology collaborate in the near future and beyond.
  • SUTime is transparently called from the “ner” annotator,

    so no configuration is necessary.

  • It offers pre-trained models and tools for a wide range of NLP tasks, including text classification, named entity recognition, and coreference resolution.

The possibility of translating text and speech to different languages has always been one of the main interests in the NLP field. From the first attempts to translate text from Russian to English in the 1950s to state-of-the-art deep learning neural systems, machine translation (MT) has seen significant improvements but still presents challenges. To fully comprehend human language, data scientists need to teach NLP tools to look beyond definitions and word order, to understand context, word ambiguities, and other complex concepts connected to messages. But, they also need to consider other aspects, like culture, background, and gender, when fine-tuning natural language processing models. Sarcasm and humor, for example, can vary greatly from one country to the next. Text classification is the process of understanding the meaning of unstructured text and organizing it into predefined categories (tags).

nlp analysis

Natural language processing (NLP) is an area of computer science and artificial intelligence concerned with the interaction between computers and humans in natural language. The ultimate goal of NLP is to help computers understand language as well as we do. It is the driving force behind things like virtual assistants, speech recognition, sentiment analysis, automatic text summarization, machine translation and much more. In this post, we’ll cover the basics of natural language processing, dive into some of its techniques and also learn how NLP has benefited from recent advances in deep learning. Natural language processing (NLP) is an interdisciplinary subfield of computer science and linguistics. It is primarily concerned with giving computers the ability to support and manipulate human language.

This technology works on the speech provided by the user breaks it down for proper understanding and processes it accordingly. This is a very recent and effective approach due to which it has a really high demand in today’s market. Natural Language Processing is an upcoming field where already many transitions such as compatibility with smart devices, and interactive talks with a human have been made possible. Knowledge representation, logical reasoning, and constraint satisfaction were the emphasis of AI applications in NLP. In the last decade, a significant change in NLP research has resulted in the widespread use of statistical approaches such as machine learning and data mining on a massive scale.

nlp analysis

This survey attempted to review and summarize as much of the current research as possible, while organizing it along several prominent themes. We have emphasized aspects in analysis that are specific to language—namely, what linguistic information is captured in neural networks, which phenomena they are successful at capturing, and where they fail. Many of the analysis methods are general techniques from the larger machine learning community, such as visualization via saliency measures or evaluation by adversarial examples. But even those sometimes require non-trivial adaptations to work with text input. Some methods are more specific to the field, but may prove useful in other domains.

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australia

In a pivotal move, the United States Securities and Exchange Commission (SEC) may greenlight all 12 pending spot Bitcoin exchange-traded fund (ETF) applications within the next eight days. Bloomberg ETF analysts James Seyffart and Eric Balchunas highlight a unique opportunity for approval, starting from November 9 and extending until November 17.

The SEC’s decision window arises from the extension of the deadline for several spot Bitcoin ETF filings, culminating in November 8 as the last day for comments. Notably, this brief period could mark a groundbreaking moment for the crypto space, including Grayscale’s potential conversion of its GBTC trust product.

In a post on X (formerly Twitter), Seyffart revealed that the SEC issued delay orders simultaneously for major players such as BlackRock, Bitwise, VanEck, WisdomTree, Invesco, Fidelity, and Valkyrie. This strategic move aligns with the belief that the SEC might usher in all 12 filers to launch, following Grayscale’s recent court victory.

Nine of the pending spot Bitcoin ETF applications could technically be approved anytime before Jan. 10. Source: James Seyffart

The looming decision could have a significant impact on the market, with Grayscale reportedly engaging in discussions with the SEC about converting its trust product GBTC into a spot Bitcoin ETF. Sources familiar with the matter suggest ongoing dialogue between Grayscale and the SEC’s Division of Trading and Markets, as well as the Division of Corporation Finance.

Crypto enthusiasts are optimistic about the potential approval’s ripple effect on the market. Over the last three months, Bitcoin has surged by over 30%, propelling other major assets like Solana (SOL), Ripple (XRP), and Ether (ETH) to notable gains. While some foresee the approval sparking the next bull market, skeptics question the rally’s sustainability.

As the crypto community eagerly anticipates the SEC’s decision, the market remains on the edge, with potential approval seen as a catalyst for further growth. Analysts Seyffart and Balchunas project a 90% chance of approval before January 10, 2024, injecting a sense of optimism into the evolving landscape of cryptocurrency investments.

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In the dynamic landscape of decentralized finance (DeFi), OpenOcean stands out as a leading Web3 DEX aggregator. Founded in 2019, OpenOcean has garnered significant recognition for its innovative approach to decentralized exchange (DEX) aggregation, offering users a seamless and efficient trading experience. This comprehensive review delves into the intricacies of OpenOcean, exploring its unique features, current updates, and overall impact on the DeFi ecosystem.

Unveiling OpenOcean’s Unique Value Proposition

OpenOcean distinguishes itself from other DEX aggregators by prioritizing user experience and decentralization. Unlike traditional aggregators that rely on a centralized order book, OpenOcean employs a unique meta-aggregator model that seamlessly aggregates liquidity from various DEXs, including Uniswap, SushiSwap, and PancakeSwap. This approach ensures that users are always presented with the best possible trading rates, regardless of the underlying DEX.

Key Features that Empower Traders

OpenOcean’s user-centric design is evident in its array of features that empower traders and enhance their trading experience. These features include:

  • Smart Routing: OpenOcean’s intelligent smart routing algorithm automatically identifies the most optimal trading path across multiple DEXs, ensuring users receive the best possible rates for their trades.
  • Aggregation of Liquidity: OpenOcean aggregates liquidity from a vast network of DEXs, providing users with access to a vast pool of trading pairs and ensuring ample liquidity for their trades.
  • Real-Time Trading Analytics: OpenOcean provides users with real-time trading analytics, allowing them to make informed decisions based on historical and current market trends.
  • Gasless Swaps: OpenOcean enables gasless swaps for certain tokens, eliminating the need for users to hold native gas tokens for transaction fees.

Current Updates: OpenOcean’s Continuous Evolution

OpenOcean is committed to continuous innovation and regularly introduces updates to enhance its platform and user experience. Some of the most recent updates include:

  • Integration of Layer 2 Networks: OpenOcean has integrated support for Layer 2 networks, such as Arbitrum and Optimism, enabling faster and more cost-effective trades.
  • Support for New Assets and Networks: OpenOcean is constantly expanding its support for new assets and networks, ensuring users can trade a wide range of tokens across various blockchains.
  • Enhanced Security Measures: OpenOcean prioritizes security and has implemented robust measures to protect user funds and assets.

OpenOcean’s Impact on the DeFi Ecosystem

OpenOcean has made significant contributions to the DeFi ecosystem by fostering decentralization, enhancing user experience, and promoting accessibility. Its innovative approach to DEX aggregation has set a new standard for the industry, and its commitment to continuous improvement has solidified its position as a leading player in the DeFi landscape.

Conclusion

OpenOcean has emerged as a leading Web3 DEX aggregator, offering users a seamless, efficient, and secure trading experience. Its unique meta-aggregator model, coupled with its array of user-centric features, has positioned OpenOcean as a driving force in the DeFi ecosystem. As OpenOcean continues to innovate and expand its offerings, it is poised to play an even more prominent role in shaping the future of decentralized finance.

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Amidst the fervor surrounding the potential launch of a spot Bitcoin exchange-traded fund (ETF), Yat Siu, Founder and CEO of Animoca Brands, has noted a notable upswing in the popularity of blockchain games. Siu, speaking at Hong Kong Fintech Week, asserts that the surge in cryptocurrency prices has rekindled investor confidence in the Web3 gaming market and catalyzed increased on-chain activity within the gaming sector.

Siu stresses that the value of tokens plays a pivotal role in bolstering user confidence and utility. It goes beyond the mere accumulation of wealth; it fosters a sense of trust in the assets owned.

While evaluating investor confidence can be multifaceted, Siu maintains that assessing growth and conviction in the GameFi sector necessitates a close examination of on-chain activity. Rather than fixating solely on token prices, he suggests a holistic approach, likening it to analyzing various aspects of a country’s economy.

Data corroborates Siu’s insights. Over the past month, Axie Infinity, a blockchain-based game within Animoca’s portfolio, has witnessed a 50% surge in transaction activity and a 14% increase in trading volume, according to DappRadar data.

Axie Infinity transaction activity has increased steadily since its yearly low on July 2. Source: DappRadar

Siu further underscores that the crypto ecosystem remains intrinsically tied to Bitcoin’s growth, despite the unique attributes of individual offerings. Bitcoin continues to serve as the reserve currency of the Web3 realm, exerting a substantial influence on the overall crypto market’s value and dynamics.

Siu expresses confidence in the potential approval of a spot Bitcoin ETF, asserting that it would provide a significant boost to the entire industry, lending legitimacy and attracting fresh investments from traditional financial institutions. He envisions a future where the crypto sector will gradually reduce its reliance on Bitcoin, akin to the global shift away from the gold standard.

In closing, Siu acknowledges that Web3’s reach, despite surpassing $1 trillion in size, is still limited to a relatively small fraction of the world’s population. He believes that the sector’s evolution is a matter of maturity in the market, poised for growth alongside the global economy.

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According to a press release from the firm, Bitfinex had a “minor” information security breach where a hacker gained access to “partial, incomplete and stale information.” Customer service was purportedly targeted by a hacker or hackers who had “limited access to supporting tools and helpdesk tickets.”

The announcement states that user money were unaffected by the attack and that the hacker was unable to compromise any essential systems. Bitfinex claims that impacted individuals would receive notifications; nonetheless, the majority of impacted accounts were “empty or inactive.” The business adds that it intends to collaborate with law authorities to find the attacker.

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In an interview with the Securities and Exchange Commission (SEC), renowned cryptocurrency attorney John E. Deaton discussed his thoughts on Ripple Lab’s ongoing XRP litigation and stated that he thinks any settlement of $20 million or less will constitute a significant legal win for the business.

Deaton’s Viewpoint in the XRP Legal Case

Deaton recently expressed his strong disagreement with the idea that the litigation resulted in a 50-50 win for the SEC in a post on the social media site X, stating that the verdict was actually closer to 90-10 in Ripple’s favor. Deaton’s remarks are in reaction to a post that highlights yet another legal loss for the SEC and was made by Stuart Alderoty, Chief Legal Officer of Ripple.

“The people who’ve argued that the SEC got a 50-50 victory in the Ripple case are 100% wrong,” Deaton wrote in his piece. More like 90-10 was in Ripple’s advantage. Legally, Ripple is winning 99.9% of the cases if they pay $20 million or less.

Deaton’s viewpoint is in line with the general consensus in the cryptocurrency industry, which believes that Ripple would benefit from the proposed $20 million settlement given the possible ramifications of the XRP litigation and the regulatory environment that surrounds cryptocurrencies in general.

The story is furthered by Stuart Alderoty’s piece, in which he mentions that the SEC lost this week in order to keep their winning streak going. According to Alderoty, “the SEC cannot request a crippling disgorgement award in SEC v. Govil, as per the ruling of the 2d Circuit without first demonstrating that “investors” have experienced financial loss. Stated differently, no foul, no harm.

The Legal Battle of Ripple
In December 2020, Ripple Labs was sued by the SEC, claiming that the company had sold its native cryptocurrency, XRP, through an unregistered securities offering.

The lawsuit contended that Ripple ought to have registered its token sales with the SEC and that XRP ought to be categorized as a securities. The possibility of this case creating a precedent for digital asset regulation in the US caused tremors in the cryptocurrency market.

Judge Analisa Torres’ decision to uphold the asset’s status as a non-security when it was exchanged on a secondary market ultimately established the precedent. As the accusations against the Ripple executives were dismissed, the case also underwent a major change.

Regarding the SEC and Ripple’s request for a briefing schedule to discuss institutional sales of XRP—the part of the XRP litigation in which the company was found to have broken securities law—Judge Torres just authorized an order.

Judge Torres gave the parties until November 9 to turn in a unified briefing schedule.

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According to data from cryptocurrency data and analysis company CoinGecko, assets invested in exchange-traded funds (ETFs) linked to the spot price of bitcoin have reached a total of $4.16 billion.

Canada’s Significant Contribution

Canada has emerged as a prominent player in this space, with nearly $2 billion of the global assets invested in seven spot bitcoin ETFs launched in the country since 2021. The Purpose Bitcoin ETF, based in Canada, leads the pack with $819.1 million in assets, making it the largest among the 20 ETFs in this category.

While the United States has thus far approved only futures-based Bitcoin ETFs like ProShares Bitcoin Strategy, boasting about $1.2 billion in assets, the country’s regulators are reviewing up to ten applications for spot-based ETFs.

Debate Over ETF Types

Advocates of spot-based ETFs argue that futures-based alternatives are an imprecise and more costly method of tracking bitcoin’s performance within an exchange-traded product. However, the SEC has denied all spot bitcoin ETF applications, citing concerns about the protection of investors from potential market manipulation.

Other regulatory regimes have been more welcoming. Germany’s ETC Group Physical Bitcoin ETF, launched in June 2020, now holds $802 million in assets, making it the second-largest globally. Europe hosts seven other spot Bitcoin ETFs, often incorporated in tax havens such as Jersey, the Cayman Islands, and Liechtenstein. Smaller products are also traded in Brazil and Australia.

Future Prospects

The potential size of the U.S. spot bitcoin ETF market is a subject of debate, with initial estimates suggesting demand of at least $1 billion on the first day. Whether the forthcoming U.S. spot bitcoin ETFs can outpace their Canadian and German counterparts and attract strong investor interest remains to be seen, as the market dynamics continue to evolve.

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5 Reasons Why Your Chatbot Needs Natural Language Processing by Mitul Makadia

natural language processing chatbot

In fact, this chatbot technology can solve two of the most frustrating aspects of customer service, namely, having to repeat yourself and being put on hold. And that’s understandable when you consider that NLP for chatbots can improve customer communication. natural language processing chatbot However, if you’re using your chatbot as part of your call center or communications strategy as a whole, you will need to invest in NLP. This function is highly beneficial for chatbots that answer plenty of questions throughout the day.

natural language processing chatbot

If there is one industry that needs to avoid misunderstanding, it’s healthcare. NLP chatbot’s ability to converse with users in natural language allows them to accurately identify the intent and also convey the right response. Mainly used to secure feedback from the patient, maintain the review, and assist in the root cause analysis, NLP chatbots help the healthcare industry perform efficiently. With its intelligence, the key feature of the NLP chatbot is that one can ask questions in different ways rather than just using the keywords offered by the chatbot. Companies can train their AI-powered chatbot to understand a range of questions.

ChatGPT The era of AI begins

Deep learning capabilities allow AI chatbots to become more accurate over time, which in turns allows humans to interact with AI chatbots in a more natural, free-flowing way without being misunderstood. Conversational artificial intelligence (AI) refers to technologies, like chatbots or virtual agents, which users can talk to. These chatbots use techniques such as tokenization, part-of-speech tagging, and intent recognition to process and understand user inputs. NLP-based chatbots can be integrated into various platforms such as websites, messaging apps, and virtual assistants. Artificially intelligent ai chatbots, as the name suggests, are designed to mimic human-like traits and responses. NLP (Natural Language Processing) plays a significant role in enabling these chatbots to understand the nuances and subtleties of human conversation.

natural language processing chatbot

For example, if there are two sentences “I am going to make dinner” and “What make is your laptop” and “make” is the token that’s being processed. Hence, teaching the model to choose between stem and lem for a given token is a very significant step in the training process. NLU is something that improves the computer’s reading comprehension whereas NLG is something that allows computers to write. The award-winning Khoros platform helps brands harness the power of human connection across every digital interaction to stay all-ways connected.

Frequently Asked Questions

When a user inputs a query, or in the case of chatbots with speech-to-text conversion modules, speaks a query, the chatbot replies according to the predefined script within its library. One drawback of this type of chatbot is that users must structure their queries very precisely, using comma-separated commands or other regular expressions, to facilitate string analysis and understanding. This makes it challenging to integrate these chatbots with NLP-supported speech-to-text conversion modules, and they are rarely suitable for conversion into intelligent virtual assistants. NLP, or Natural Language Processing, stands for teaching machines to understand human speech and spoken words.

Don’t waste your time focusing on use cases that are highly unlikely to occur any time soon. You can come back to those when your bot is popular and the probability of that corner case taking place is more significant. There is a lesson here… don’t hinder the bot creation process by handling corner cases. Consequently, it’s easier to design a natural-sounding, fluent narrative.

Advanced Support Automation

Make adjustments as you progress and don’t launch until you’re certain it’s ready to interact with customers. For instance, a B2C ecommerce store catering to younger audiences might want a more conversational, laid-back tone. However, a chatbot for a medical center, law firm, or serious B2B enterprise may want to keep things strictly professional at all times. Disney used NLP technology to create a chatbot based on a character from the popular 2016 movie, Zootopia. Users can actually converse with Officer Judy Hopps, who needs help solving a series of crimes.

New Theory Suggests Chatbots Can Understand Text – Quanta Magazine

New Theory Suggests Chatbots Can Understand Text.

Posted: Mon, 22 Jan 2024 08:00:00 GMT [source]

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The billionaire tech entrepreneur Elon Musk predicts that artificial intelligence (AI) will become the “most disruptive force in history” and may eventually replace human labor in all fields.

According to him, artificial intelligence (AI) has the ability to outsmart humans and complete any activity, creating a society in which employment is optional.

Elon Musk Talks About AI at the UK Summit as a Potential “Disruptive Force”
Musk addressed Prime Minister Rishi Sunak at a formal UK government function ,saying:

“AI has the capacity to emerge as the greatest disruptive force in human history.”

In his vision of the future, people would labor just for their own gratification. This is due to the fact that AI might perform any task. Musk continued, saying:

“There will come a time when no job is needed, though it’s difficult to pinpoint exactly when that will happen.”

The owner of Tesla, SpaceX, and X (previously known as Twitter), Elon Musk, has issued numerous alerts regarding the possible dangers posed by AI.

He once demanded a halt to the creation of artificial intelligence (AI) more sophisticated than OpenAI’s GPT-4 program, comparing its possible threat to that of nuclear weapons.

AI-Powered Data Gathering
Musk may have some misgivings, but his businesses are actively engaged in AI research. Recently, Musk’s company X amended its privacy policy to collect a lot of customer data, including biometric and job history. This information will drive projects like AI development and employment matching, transforming X from a basic social media network into a comprehensive offering.

With the help of X’s new privacy policy, it is permitted to collect comprehensive user data. This covers talents, biometric information, work history, education, and job search activities. As per the revised policy,

“X says it will share users’ profiles with potential employers and use this data to recommend jobs to users.”

Additionally, the platform plans to train AI and machine learning models using this data.

Although some see these changes as a positive step toward X becoming a “everything app,” privacy activists are concerned. They contend that individuals need to have more say over the uses of their data, particularly when it comes to the advancement of AI.

Musk’s idea of an AI-powered, jobless future raises concerns about the nature of work in general and meaning of life. As AI develops, the discussion about its effects on the economy, society, and individual lives will only get more heated. As Elon Musk pointed out, “One of the challenges in the future will be how do we find meaning in life.”

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ETF

Steven McClurg, Chief Investment Officer at Valkyrie Investments, expresses optimism for a US Securities and Exchange Commission (SEC) approval of a spot Bitcoin ETF by November’s end, a significant development for the cryptocurrency market.

Valkyrie Investments is actively pursuing SEC approval for a spot Bitcoin ETF. The firm currently manages two Bitcoin-related ETFs. McClurg anticipates a second round of comments on Valkyrie’s spot Bitcoin ETF application in the coming weeks, potentially setting the stage for rule changes (19b-4) approval by November’s end.

Timeline for Approval and Launch

Should the SEC grant approval late in November, the ETF‘s launch could occur in February. McClurg envisions the SEC might request applicants to finalize their S-1 filings in January, a prerequisite for ETFs to begin trading.

Recent weeks have seen the SEC meticulously reviewing spot Bitcoin ETF applications, focusing on aspects like risk disclosures, index methodologies, Net Asset Value (NAV) calculations, environmental risks, and custody practices. Notably, amendments to applications, as seen in submissions by BlackRock and VanEck, have added clarity to initial fund-seeding processes.

Cautious Optimism

Industry experts remain cautiously optimistic about potential approval. Challenges like market manipulation and custody concerns persist, but the demand for spot Bitcoin ETFs is substantial. Estimates suggest billions of dollars could flow into these products within the first few months after launch.

Valkyrie filed a revised spot Bitcoin ETF application on October 30, outlining the Valkyrie ETF’s proposed listing on the Nasdaq Stock Market under the ticker “BRRR.” This move aligns with a broader trend where firms are amending their spot Bitcoin ETF applications in anticipation of regulatory approval.

As of the latest data, Bitcoin was trading at $34,456, moving within an upward trending channel in shorter timeframes.

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