Friday, June 14, 2024

AI not for all.

On the second and final day of their summit, the G7 leaders' communique expressed "their solidarity with Ukraine, support for a deal that would lead to the immediate cease-fire and release of hostages in Gaza, investment in sustainable infrastructure in Africa and commitments to address climate change and migration." BS. "Indian refiners imported 1.78 million barrels a day (mb/d) of crude oil from Russia in April, up 19% from March, according to energy cargo tracker Vortexa." "Russia supplied more oil to India than its next three top suppliers - Iraq, Saudi Arabia, the UAE - put together in April." ET. The G7 committed to "deepening our cooperation to harness the benefits and manage the risks of Artificial Intelligence...and develop a brand to support the implementation of the International Code of Conduct for Organizations Developing Advanced AI Systems." whitehouse.gov. In March, "Advanced Micro Devices has hit a US government roadblock in its efforts to sell an AI chip tailored for the Chinese market, as Washington cracks down on the export of advanced technologies to Beijing, Bloomberg News reported." Reuters. "Talking on India's AI mission premised on 'AI for All', the Prime Minister (Narendra Modi) emphasized that this technology should be aimed at fostering progress and well-being for all." ET. "The world community must end the monopoly in technology and ensure its access for all to lay the foundation of an inclusive society and help eliminate social inequalities, PM Modi said." ABP. On 14 June, Nvidia's market capitalization (MC) rose to a record $3.44 trillion. ycharts.com. Apple's MC rose to $3.258 trillion after announcing its push into AI (CNBC). Microsoft closed the week at MC of $3.289 trillion, while that of Alphabet, formerly Google's, MC was $2.204. ycharts.com. In 2023, "Microsoft Corp...bundled the technology behind ChatGPT with its Power Platform that allows users to develop applications with little or no coding, the latest integration of artificial intelligence into its products." Reuters. Together those four companies have a market cap of $12.191 trillion, which is more than 3 times India's GDP at $3.385 trillion (worldometer). They are very unlikely to give up their monopoly on technology. At his anticipated meeting with Mr Modi, US President Biden committed to "discussing important issues, including concerns over the foiled Sikh separatist Gurpatwant Singh Pannun's murder plot, at high levels with India." ET. Can't go any higher than Mr Modi. Mr Modi also met Canadian Prime Minister Justin Trudeau who has accused India of killing Canadian citizen Hardeep Singh Nijjar in Canada. India Today. India accuses Canada of "providing criminal and secessionist elements a safe haven in Canada after a parade in Ontario's Malton displayed pro-Khalistan sentiments." BS. Problem is that Trudeau can point to the recent election of Khalistani hardliner Amritpal Singh to the Lok Sabha from Khadur Sahib in Punjab with a record winning margin of 193 thousand votes and Sarabjeet Singh Khalsa from Faridkot. Sarabjeet is the son of Indira Gandhi assassin Beant Singh. DH. The old saying about pointing a finger with three fingers pointing back. Forbes. Embarrassing.

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