Artificial Superiority

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Nadero Wealth Management

The race to AI superiority is on, and never before have we seen investments in this sector at such record levels. Next to China and the US, tech companies in the UK have secured almost a Billion dollars in the first half of this year alone, solely on projects devoted to AI. This makes the UK the third largest market for AI investment.

As funding rushes to the UK, this takes the country way ahead of France, Germany, and the rest of Europe as far as AI research is concerned. This despite the controversy of Brexit. There are indeed promising indications that British AI firms are incubating remarkable technology that is probably geared to hatch the next Google or Facebook. This we have to see in the coming months when investors demand developments and results.

Among the many amazing AI and machine learning contributions, one is how it has accelerated the advances in translation technology. Imagine people communicating instantly without language barriers. To highlight this, a Bluetooth wireless smart translation earphone, which can translate instantly via earpiece by Vbestlife, was recently made available on Amazon for UK Prime customers for £18.05. For years, both Amazon and Microsoft have been spending millions of dollars on their own translation engines, with the objective of translating text instantaneously. On the other hand, Google and Apple are also not far behind with translation services targeted for tourists and travelers. A world that is bonded by harmony in understanding with no language obstacles would mean one thing - a bigger market for these tech companies.

Also last week, and as we predicted, the Facebook sponsored cryptocurrency project ‘Libra’ stalled and may even be buried - with no thanks to the US government itself for not wanting any competition to the US Dollar as the global currency of business and trade. But as it became more and more challenging to get the green light from US regulators, more and more companies are bailing out from the Libra Association for fear of the Trump administration’s backlash. So much so that the likes of Visa, Mastercard, and PayPal have already backed out.

Obviously rattled, Mark Zuckerberg gave a stern prediction of things to come. 'That should the US fail to adopt a cryptocurrency to align with, America will in the longer term lose.' So much so that a few days after, China’s President Xi Jinping confirmed Zuckerberg’s warning to Congress as he called for China to accelerate its adoption of blockchain technologies as a core for innovation. Thus spoken, and Bitcoin enjoyed its biggest ever one day rally.

After snubbing Mark Zuckerberg, America’s Big Tech is facing another nemesis with 2020 Democratic Presidential contender Senator Elizabeth Warren accusing the tech titans of abusing their market dominance and crushing competition. Silicon Valley is [was] a fundamentally Democrat territory, but these pronouncements from Warren could swing their color. Warren has regularly accused Tech Giants of becoming monopolies, bulldozing competition, using our private information for profit, and tilting the playing field in their favor. She has a point.

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