Are NFTs a Scam or Useful? AI Index 2022; Cutting-edge AI capabilities; AI Suggested chemical weapons

Don't trade NFTs unless you read this!

What is NFT? you can check these posts (1, 2, 3 ).

What are the types of NFTs? No NFTs are not just animal jpegs!

Are they Scam or Ponzi schemes? Some of them based on the Securities and Exchange Commission (SEC) definition are, but if you do your homework and avoid the red flags, the technology is an enabler for many great use cases.

NFTs are new and unregulated, so there is more chance for people to misuse the hype. ?Especially, there has been a recent rise in fraudulent projects. OpenSea ( NFT Marketplace) reported that around 80 percent of the NFTs minted through its free creation tool had been identified as fraudulent, earmarked as either spam or scams.?That's why many people believe that is all the same and overgeneralize the problem.

The cartoon is attributed to 1889 and is entitled “The Unrestrained Demon”, referring to the electricity itself.

There was some truth to this: in the early days of electrification when the importance of grounding/bonding wasn't well understood (or followed when it was), people were getting shocked at random, horses getting shocked through their iron shoes.**

Not all NFTs are scams and Fraudulent.

I still believe they are all scams or I don't have the capacity to find the ones that are legit, should I still buy them? Absolutely not, stay away from NFTs and enjoy your life!

If you are really in for the trouble then keep reading, as, with any financial decision, you should do a lot of research before getting started, not just on the project, but on the NFT industry as a whole.

These are some tips: (This is not financial Advice make sure to do your own research)

Look who is behind the project and what are the creators’ backstories are good places to start. Never ever buy NFTs from unknown and anonymous creators. Having a LinkedIn account is a must unless you are into gambling!

Don't buy NFTs that have no intrinsic value from a real-world utility or if it is too complex to understand. Only buy art NFTs if you are enjoying them yourself and not for the profit, because there is a high chance to lose money after the hype fades away. I made a poll a while ago and only 12% of voters (2700+) believe NFTs are bought for the art!

But, it would be great to have a pleasant art piece on top of some utility.

Finally, check if the majority of the community that supports the project are legit NFT collectors and not flippers. It is easy to get overwhelmed by the numbers but are they real? They can be bots and paid resources from low-wage countries that try to inflate the numbers by saying gm/gn a couple of times a day.

As I mentioned before 90% of the current projects are going to fail soon, make sure you are not holding a bag full of them.

Credits:* Lililashka, ** Reddit (This is not financial Advice make sure to DYOR)

[Stanford]?The 2022 AI Index: Industrialization of AI and Mounting Ethical Concerns: The new report highlights an AI investment boom, impressive new technical capabilities, and a fresh focus on ethics (including a new chapter on fairness and bias).

[Verge]?AI suggested 40,000 new possible chemical weapons in just six hours: Researchers put AI normally used to search for helpful drugs into a kind of “bad actor” mode to show how easily it could be abused at a biological arms control conference.

[MIT]?What do psychedelic drugs do to our brains? AI could help us find out: The words people used to describe their trip experiences could lead to better drugs to treat mental illness.

[NewScientist]?Simple mathematical trick could slash AI development time in half: Training artificial intelligence to identify faces or digitize text involves thousands or millions of iterations of a two-stage process known as back-propagation, but a new approach could save time, energy and computing power

[CNN]??Americans are concerned about rise of AI and human enhancements

[Wired]?Russia's Killer Drone in Ukraine Raises Fears About AI in Warfare: The maker of the lethal drone claims that it can identify targets using artificial intelligence.

[HBR]?Why AI Failed to Live Up to Its Potential: There was an unprecedented convergence of the need for fast, evidence-based decisions and large-scale problem-solving with datasets spilling out of every country in the world.?

[NY Times]?‘No-Code’ Brings the Power of A.I. to the Masses: A growing number of new products allow anyone to apply artificial intelligence without having to write a line of computer code. Proponents believe the “no-code” movement will change the world.

[MIT]?When it comes to AI, can we ditch the datasets? A machine-learning model for image classification that’s trained using synthetic data can rival one trained on the real thing, a study shows.

[ScienceDaily] Pivotal technique harnesses cutting-edge AI capabilities to model and map the natural environment: Scientists have developed a pioneering new technique that harnesses the cutting-edge capabilities of AI to model and map the natural environment in intricate detail.

[GovTech]?How Should Local Governments Approach AI and Algorithms? The Pittsburgh Task Force on Public Algorithms has released recommendations for county and municipal governments that are interested in using automated systems for better decision-making.

This video is a deepfake! Not the highest of quality, but potentially the first deep fake being used as a wartime weapon. What if misinformation is shared with higher quality and more believable!?

?Join the UN?#WorldInnovationday?event to tackle some of the?United Nations?SDGs. Don't miss this opportunity to make an impact,?register here

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[??]? This mesmerizing visualization presents monthly global temperature anomalies between the years 1880-2021.

[??]??Which AI Components Are Copyright Protectable and Which Are Not?

[??] Sometimes you just need to start. I love this illustration, many times in the past had the same feeling and went through the same journey.

Credit Alex Visual

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Have a great weekend, Steve