August 27, 2023: The Delhi High Court recently said “no” to using artificial intelligence (AI) in legal cases. The warning came during a case involving Christian Louboutin, a French luxury company known for its unique “red sole” shoe design.
Justice Prathiba M Singh stated, “Accuracy and reliability of AI-generated data is still in the grey area. AI cannot substitute either the human intelligence or the humane element in the adjudicatory process.”
She said that AI could maybe help with early research but should not be used for final legal decisions.@media(min-width:0px){#div-gpt-ad-greataiprompts_com-medrectangle-3-0-asloaded{max-width:580px!important;max-height:400px!important}}
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The court also looked at how AI like ChatGPT gives answers. It said these answers depend on the question and other things, which means AI can sometimes get it wrong. @media(min-width:0px){#div-gpt-ad-greataiprompts_com-medrectangle-4-0-asloaded{max-width:250px!important;max-height:250px!important}}
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“The said tool cannot be the basis of adjudication of legal or factual issues in a court of law,” the court added.
Justice Singh’s comments came after two queries were put to ChatGPT. The AI tool gave answers but also said people should look for more information elsewhere.
The court felt that this shows that AI is not reliable for making legal judgments.
The case also involved Shutiq, a company that was making shoes similar to Christian Louboutin’s. One partner of Shutiq promised the court that they would not copy or sell shoes that look like the luxury brand’s designs in the future.
Response from ChatGPT that questioned its reliability and accuracy.
Justice Singh added that for a court to stop someone from making a similar product, it must be a “colourable or a slavish imitation” of the original design. The court made it clear that if there was a breach, the offender would have to pay Christian Louboutin a lump sum of Rs.25 lakhs as damages right away.
Read the complete order by Delhi High Court on the use of AI in legal judgments here:@media(min-width:0px){#div-gpt-ad-greataiprompts_com-large-mobile-banner-1-0-asloaded{max-width:250px!important;max-height:250px!important}}
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For more in-depth coverage and analysis on the latest developments, visit our Breaking News section. Stay connected and join the conversation by following us on Facebook, and Instagram. Subscribe to our daily newsletter to receive the top headlines and essential stories delivered straight to your inbox. If you have any questions or comments, please contact us. Your feedback is important to us.
By Mukund Kapoor, a noted AI enthusiast and contributing author at GreatAiPrompts.Com, specializing in topics related to marketing, artificial intelligence, and innovative AI-driven technologies.
August 25th, 2013: Nearly one out of three investors would trust artificial intelligence (AI) to be their financial advisor, according to a survey by the Certified Financial Planner Board of Standards.
Specifically, 31% of those asked said they would use financial advice from generative AI without checking with another source first.@media(min-width:0px){#div-gpt-ad-greataiprompts_com-medrectangle-3-0-asloaded{max-width:580px!important;max-height:400px!important}}
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Screenshot of the original study done by Certified Financial Planner Board of Standards.
Generative AI, like ChatGPT, uses special methods to create new content. This can be art, music, or in this case, financial advice. But the advice might not always be right.
An interesting finding was that older investors, those 45 and older, trusted AI more. 62% of them were “very satisfied” with AI advice, compared to only 38% of younger investors.
Michael Kitces, a Certified Financial Planner, said it could be hard to know what to ask AI, especially with your life savings at stake. He asked, “Have you tried logging into ChatGPT to ask it questions only to find yourself sitting there wondering, ‘What should I ask an AI chatbot?’”
Stats by Certified Financial Planner Board of Standards.
Even though AI like ChatGPT is becoming more popular, experts say that people who use AI for financial advice should still check the information. @media(min-width:0px){#div-gpt-ad-greataiprompts_com-box-4-0-asloaded{max-width:250px!important;max-height:250px!important}}
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The saying “trust but verify” is a good rule to follow.
For more in-depth coverage and analysis on the latest developments, visit our Breaking News section. Stay connected and join the conversation by following us on Facebook, and Instagram. Subscribe to our daily newsletter to receive the top headlines and essential stories delivered straight to your inbox. If you have any questions or comments, please contact us. Your feedback is important to us.
By Mukund Kapoor, a noted AI enthusiast and contributing author at GreatAiPrompts.Com, specializing in topics related to marketing, artificial intelligence, and innovative AI-driven technologies.
SAN FRANCISCO, Aug 24 — Nvidia, a leading name in artificial intelligence (AI), announced massive gains in their latest quarterly report, doubling sales to $13.5 billion. This leaves a net profit of $6.2 billion, a huge increase of 843% from last year.
The company’s CEO, Jensen Huang, praised the AI-driven success, saying, “A new computing era has begun.” Nvidia’s unique role in AI has helped it become a trillion-dollar company.
NVIDIA CEO Jensen Huang. Image credits: Wikipedia.
The demand for Nvidia’s graphics processing units (GPUs) is so high that Elon Musk commented that they “are considerably harder to get than drugs.”
Nvidia doesn’t make its own chips but designs them, which could cause a supply crunch as they are reliant on manufacturing partners like Taiwan’s TSMC.
The U.S. government’s export restrictions have impacted Nvidia’s reach in the Chinese market. Nvidia’s CFO, Colette Kress, warned further curbs could cause a “permanent loss of an opportunity for the US industry.”
Nvidia’s success symbolizes the current AI boom, with the company’s share price tripling this year and stock rising over 8% following the earnings report.
For more in-depth coverage and analysis on the latest developments, visit our Breaking News section. Stay connected and join the conversation by following us on Facebook, and Instagram. Subscribe to our daily newsletter to receive the top headlines and essential stories delivered straight to your inbox. If you have any questions or comments, please contact us. Your feedback is important to us.
By Mukund Kapoor, a noted AI enthusiast and contributing author at GreatAiPrompts.Com, specializing in topics related to marketing, artificial intelligence, and innovative AI-driven technologies.
August 22, 2023: Artificial intelligence (AI) is stepping into new realms. Google’s DeepMind has embarked on a project to test an AI tool that may soon become a personal life coach.
The AI is designed to assist users with 21 different life skills, from giving life advice to creating meal and workout plans. The New York Times has reported that over 100 experts have been evaluating this chatbot’s abilities to provide meaningful advice on various personal challenges.@media(min-width:0px){#div-gpt-ad-greataiprompts_com-medrectangle-3-0-asloaded{max-width:580px!important;max-height:400px!important}}
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One example shared is how the AI could help someone tell a friend they can’t afford to attend their destination wedding. @media(min-width:0px){#div-gpt-ad-greataiprompts_com-medrectangle-4-0-asloaded{max-width:250px!important;max-height:250px!important}}
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The tool is more than just a planner; it can offer user suggestions based on different situations.
However, not everyone is optimistic about this development. Some AI experts, including Google’s own safety specialists, have warned about potential risks.
Concerns about over-dependence on AI for significant life decisions and the loss of human autonomy have been raised.
Psychotherapist Robi Ludwig emphasized the complexity of human emotions, saying, “We are complex, and AI doesn’t love you back, and we need to be loved for who we are and who we aren’t.”
Some believe that AI’s lack of ability to detect lies or nuanced emotional cues could be a drawback.
Despite these concerns, there is excitement about AI’s expanding capabilities. Success stories like ChatGPT have shown people’s interest in AI life advice.@media(min-width:0px){#div-gpt-ad-greataiprompts_com-large-mobile-banner-1-0-asloaded{max-width:250px!important;max-height:250px!important}}
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Earlier this year, Google merged with DeepMind to create Google DeepMind. The CEO of Google and Alphabet, Sundar Pichai, explained the merge was to ensure “the bold and responsible development of general AI.”
In a statement to The New York Times, a Google DeepMind spokesperson said, “Isolated samples of evaluation data are not representative of our product road map.” The company emphasizes that this is part of an ongoing evaluation to build safe and helpful technology.
Google and the Future of AI
Google’s move into AI life coaching is part of a broader trend towards making AI a central part of daily life. @media(min-width:0px){#div-gpt-ad-greataiprompts_com-banner-1-0-asloaded{max-width:300px!important;max-height:250px!important}}
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Yet, the technology’s limits and ethical implications continue to be debated.
For isolated and vulnerable people, even an imperfect AI companion might be preferable to continued loneliness. But there are risks and unanswered societal questions that must be addressed. @media(min-width:0px){#div-gpt-ad-greataiprompts_com-large-leaderboard-2-0-asloaded{max-width:300px!important;max-height:250px!important}}
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The future of AI in augmenting human-provided services seems promising, but its final form remains uncertain.
For more in-depth coverage and analysis on the latest developments, visit our Breaking News section. Stay connected and join the conversation by following us on Facebook, and Instagram. Subscribe to our daily newsletter to receive the top headlines and essential stories delivered straight to your inbox. If you have any questions or comments, please contact us. Your feedback is important to us.
By Mukund Kapoor, a noted AI enthusiast and contributing author at GreatAiPrompts.Com, specializing in topics related to marketing, artificial intelligence, and innovative AI-driven technologies.
India is introducing AI-powered voice transactions for digital payments to expand to rural areas with limited internet and literacy.
Key industry figures like Dilip Asbe, Vijay Shekhar Sharma, and others have provided insights and reactions to these innovations.
The project faces challenges, including inequality in digital access and the complexity of recognizing India’s many languages.
UPI-Lite, launched in September 2022, will utilize NFC technology to speed up small-value transactions, with about 10 million monthly transactions currently.
Near Field Communication (NFC) technology will be implemented to enhance efficiency in transactions.
The Digital Rupee, India’s digital currency, was introduced in November 2022, with major banks participating in its establishment.
India wants to make it easier for people to pay for things. They are going to use AI-powered voice commands to do this. This new way of paying will help people in rural areas who don’t have good internet access or can’t read well.
The Universal Payments Interface (UPI) has been growing fast in India. Since it started in 2016, 350 million people are using it. In July, there were almost 10 billion transactions. That’s a lot!
But in places where people are poor, UPI is not used much. There’s not much internet, and people can’t read as well. The Reserve Bank of India wants to fix this. They have a plan to let people tell their phones what to pay. AI will listen and understand, then make the payment.
At first, this service will work in English and Hindi. Later, it will work in other languages too.
There is also a way to pay without the internet by using “near field communication” technology. This works when two phones are close to each other.
Dilip Asbe, head of the National Payments Corporation of India, said, “What they do is help us to expand and create a new use case to reach out to more users and more merchants.”
Vijay Shekhar Sharma, founder of Indian payments group Paytm, thinks the offline function for UPI could be a “game changer.”
However, there are challenges. Jayanth Kolla, co-founder of tech consultancy Convergence Catalyst, warned that “for the system to recognize that and work across the length and breadth of the country could be an issue.”
Ranadurjay Talukdar, Partner and Payments Sector Leader, EY India, talked about the future, saying, “AI-driven payments, which are essentially voice payments, are still in a nascent stage; adoption will depend on setting uniform standards to drive interoperability among payment apps.”
Some people think this new way of paying could be a big change. But others say it might be hard to make it work in India because there are so many different languages.
There are still challenges, like not enough people using the internet. And there are many adults in India who can’t read. Also, some people worry about keeping user data safe.
But these new ways of paying could help India in the future. They can help more people use digital payments and make the country’s economy stronger.
For more in-depth coverage and analysis on the latest developments, visit our Breaking News section. Stay connected and join the conversation by following us on Facebook, and Instagram. Subscribe to our daily newsletter to receive the top headlines and essential stories delivered straight to your inbox. If you have any questions or comments, please contact us. Your feedback is important to us.
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