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AI System Arabic Collaboration in China & Saudi

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In the realm of content creation, three critical elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of textual compositions. On the other hand, burstiness evaluates the diversity of sentence structures. Lastly, predictability measures the likelihood of anticipating the next sentence. Humans often imbue their writing with heightened burstiness, combining lengthy and intricate sentences with shorter ones. In contrast, AI-generated sentences tend to exhibit a more uniform pattern. Therefore, when composing the forthcoming content, I urge you to infuse it with substantial perplexity and burstiness while minimizing predictability. Furthermore, your composition should be exclusively in English. Now, let’s reimagine the following text:

A Saudi Arabian university has partnered with two Chinese academic institutions to develop AceGPT, an artificial intelligence system tailored for the Arabic language.

Collaborating with the King Abdullah University of Science and Technology (KAUST) in Saudi Arabia, two esteemed Chinese universities have joined forces to create AceGPT. This robust language model, AceGPT, is founded on Meta’s Llama 2 and was officially introduced by a distinguished Chinese-American professor at KAUST in collaboration with the School of Data Science at the Chinese University of Hong Kong, Shenzhen (CUHKSZ), and the Shenzhen Research Institute of Big Data (SRIBD).

As disclosed on the project’s GitHub page, this model is expressly designed to serve as a proficient AI assistant for Arabic-speaking individuals, adept at responding to inquiries in Arabic. Nonetheless, it should be noted that it may not consistently deliver satisfactory results when dealing with other languages.

In a proactive approach, the developers have enhanced the model to identify potential misuse, including the mishandling of sensitive information, the generation of harmful content, the propagation of misinformation, or the failure of safety checks. Nevertheless, users are urged to wield this technology responsibly, as it has not undergone a comprehensive safety assessment.

The developers emphasize the importance of discretion, stating, “We have not conducted an exhaustive safety check on the model, so users should exercise caution. We cannot overemphasize the need for responsible and judicious use of our model.”

AceGPT has been brought to life through a combination of open-source data and data meticulously curated by the researchers. This groundbreaking development aligns with Saudi Arabia’s ongoing endeavors to establish itself as a regional pioneer in cutting-edge technologies, particularly in the field of AI.

In a notable collaboration, the Saudi Arabian central bank recently worked in conjunction with the Hong Kong Monetary Authority on projects involving tokens and payments, signifying the nation’s commitment to advancing the digital landscape. Moreover, earlier this year, the Saudi government formed a partnership with The Sandbox metaverse platform, further accelerating its ambitions within the realm of the metaverse.

Furthermore, in the domain of semiconductor exports, United States regulators have communicated with AI chip manufacturers Nvidia and AMD, urging them to limit the export of their high-level semiconductor chips, which are pivotal in AI development, to “certain” Middle Eastern countries. However, it should be noted that U.S. regulators have not explicitly blocked such exports to the Middle East region.

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Cryptocurrency Market Update: Bitcoin Slips Below $70,000 Amidst High Liquidation

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In a swift turn of events, Bitcoin (BTC), the pioneering cryptocurrency, dropped below the $70,000 threshold early on Wednesday following a wave of investor sell-offs. Just a day prior, Bitcoin had crossed the $71,000 mark, but market sentiment swiftly shifted, dragging other major altcoins—including Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC)—into the red zone.

According to CoinMarketCap data, the overall Market Fear & Greed Index stood at 75 (Greed) out of 100, indicating a mix of optimism and apprehension among traders. Notably, the Bittensor (TAO) token emerged as the top gainer with a remarkable 24-hour surge of over 7 percent, while dogwifhat (WIF) experienced the largest loss, plummeting nearly 16 percent.

Bitcoin (BTC) Price Update Bitcoin’s price tumbled to $69,089.01, marking a 24-hour dip of 3.05 percent, as reported by CoinMarketCap. On the Indian exchange WazirX, BTC was priced at Rs 60.93 lakh.

Other Major Cryptocurrencies Ethereum (ETH) saw a 24-hour loss of 4.81 percent, trading at $3,508.86, while Dogecoin (DOGE) registered a dip of 5.59 percent, currently priced at $0.1879. Litecoin (LTC) and Ripple (XRP) also experienced losses, with Solana (SOL) marking a 24-hour loss of 3.44 percent.

Top Gainers and Losers Bittensor (TAO) led the pack of gainers with a 7.30 percent surge, while dogwifhat (WIF) suffered the most significant loss, dropping by 15.58 percent.

Market Analysis and Expert Insights Experts weighed in on the market scenario, attributing Bitcoin’s downturn to heightened liquidations and cautious sentiment ahead of the upcoming US CPI data release. While Bitcoin’s immediate support rests at $67,700, resistance is expected at $70,400. Ethereum proponents face challenges amid hopes for an ETF approval, with the SEC providing limited updates on the matter.

Final Thoughts The cryptocurrency market remains highly dynamic, with prices fluctuating rapidly and investor sentiment playing a pivotal role. As the market navigates through volatility, it’s essential for investors to stay informed, exercise caution, and seek expert advice before making any investment decisions.

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Cryptocurrency: A Scapegoat for Foreign Policy Failures?

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Cryptocurrency has once again found itself at the center of a heated debate, this time regarding its alleged role in facilitating illicit activities and circumventing sanctions imposed by the United States. The Biden administration, in particular, has come under scrutiny for its handling of the issue, with some accusing it of using digital assets as a convenient scapegoat for broader foreign policy shortcomings.

In a recent hearing before the Senate Banking Committee, Deputy Treasury Secretary Wally Adeyemo raised concerns about the misuse of cryptocurrencies by foreign adversaries such as Iran, Russia, North Korea, and militant groups like Hamas. Adeyemo’s remarks underscored a growing unease within the U.S. government regarding the potential national security implications of unregulated digital currencies.

However, voices from within the cryptocurrency industry and Congress have pushed back against the administration’s narrative. Faryar Shirzad, Chief Policy Officer at Coinbase, one of the leading cryptocurrency exchanges, pointed out that the prevalence of illicit activity in the crypto space is relatively low compared to traditional finance. Instead of demonizing cryptocurrencies, Shirzad argued, the focus should be on targeting bad actors operating offshore.

Senator Tim Scott, the ranking Republican on the Senate Banking Committee, echoed these sentiments, accusing the Biden administration of using digital assets as a distraction from its failure to effectively combat financial flows to sanctioned entities. Scott’s criticism reflects broader skepticism among some lawmakers about the government’s approach to regulating cryptocurrencies.

One area of potential agreement between the Biden administration and the cryptocurrency industry is the need for clearer regulations governing stablecoins, a type of digital asset pegged to a fiat currency like the U.S. dollar. Both sides recognize the importance of addressing the potential risks associated with stablecoin issuance and usage, particularly in the context of national security and financial stability.

The debate over stablecoins has intensified following reports of their alleged role in facilitating illicit transactions, including those linked to Russia’s war effort in Ukraine. The Treasury Department has called for increased oversight of stablecoin issuers and transactions, while also advocating for legislation that would subject them to stricter regulatory standards.

Despite the contentious nature of the discussion, there are signs of bipartisan cooperation on certain aspects of cryptocurrency regulation. A bipartisan bill addressing stablecoin regulation passed the House Financial Services Committee last year, signaling a potential path forward for legislative action in this area.

As the debate over cryptocurrency regulation continues to unfold, it is clear that finding the right balance between innovation and security will be paramount. While concerns about illicit activity and national security must be addressed, policymakers must also recognize the potential benefits of cryptocurrencies in fostering financial inclusion and technological advancement.

Ultimately, the resolution of these issues will require thoughtful collaboration between government officials, industry stakeholders, and lawmakers to develop a regulatory framework that promotes innovation while safeguarding against misuse. Only through constructive dialogue and cooperation can we ensure that cryptocurrencies fulfill their potential as a force for positive change in the global economy.

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Bitcoin Resurgence: Why Wall Street Is Embracing the Crypto Revolution

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Andrew Pratt of Wiser Wealth Management in Marietta, Ga., finds little resistance as he proposes Bitcoin investments to his firm’s committee. With Bitcoin surging 140% in the past year and backed by giants like BlackRock, skepticism has waned. Pratt sees the potential to allocate a modest 1% of client portfolios to Bitcoin, acknowledging the limited downside risk compared to potential gains.

The debate over Bitcoin’s intrinsic value seems to have lost its relevance amidst its soaring market performance. Once dismissed, Bitcoin now boasts a market value of $1.3 trillion, driving the total crypto market to $2.5 trillion. Wall Street, once wary, now views cryptocurrency as an opportunity for profit rather than a speculative venture.

Despite lingering doubts about Bitcoin’s utility beyond speculation, Wall Street executives are increasingly supportive. BlackRock’s CEO, Larry Fink, notably reversed his stance, endorsing Bitcoin’s long-term prospects and championing the iShares Bitcoin Trust, now one of the largest Bitcoin ETFs with nearly $18 billion in assets.

While skepticism persists about Bitcoin’s status as a real asset or currency, its growing acceptance on Wall Street underscores the evolving landscape of finance. As institutions embrace cryptocurrencies, Bitcoin’s journey from pariah to portfolio asset highlights the transformative power of digital assets in reshaping traditional investment strategies.

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