QLN 28 (144) - EU AI Act, IMF's CBDC Platform, Lab-grown Chicken, June Heat, YouTube Dubbing & Earth's Tilt

This newsletter has?6?cover stories,?32?articles,?6?videos &?1?quote

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SMALL TALK

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A new EU AI draft could be a gamechanger

European lawmakers took a significant step towards enacting groundbreaking legislation on artificial intelligence. The proposed law, known as the AI Act, aims to establish a standard for the rapidly evolving yet insufficiently regulated technology. On June 14th, the European Parliament gave its approval to the draft legislation, marking it as the world's first comprehensive AI law. This legislation serves as a guidebook for the adoption and utilization of AI technology across the European Union's 27 member states. The AI Act includes a provision to prohibit high-risk AI practices in Europe, such as the use of real-time facial recognition technology in public spaces and other AI systems that the European Parliament considers "intrusive and discriminatory."

IMF unveils new CBDC-based cross-border payment system

During a roundtable discussion on CBDC policy, the International Monetary Fund (IMF) introduced an innovative cross-border payment system that utilizes a unified ledger to document transactions involving Central Bank Digital Currencies (CBDCs). The primary objective of this system is to enhance information management and programmability. The IMF emphasized the potential advantages of this concept, including reduced fees and quicker transaction processing times for individuals and institutions. Known as the XC platform, this novel system not only facilitates smoother cross-border payments but also enables central banks to intervene in foreign exchange markets, gather valuable insights on capital flows, and effectively resolve disputes.

Two companies can now sell lab-grown chicken in the US

In a significant milestone, the United States has granted approval for the sale of the first-ever cultivated or lab-grown meat. Upside Foods and Eat Just, two pioneering companies in this field, have received grants of inspection from the United States Department of Agriculture (USDA), marking the final requirement for commencing commercial production and sales in the US. Unlike most meat alternatives currently available, which are plant-based, cultivated meat products are created using animal cells grown in bioreactors. Tissue samples from living animals are extracted and cultivated in a laboratory setting. As these cells multiply and develop, they can be processed into consumable food products.

2023 is turning out to be the year of heat waves

In 2023, the Earth is confronting a dual challenge of global heating. In addition to the ongoing increase in global temperatures attributed to greenhouse gas emissions, an emerging El Ni?o phenomenon is compounding the situation. The initial 11 days of June witnessed the highest recorded temperatures for this period, with global surface air temperatures surpassing 1.5 degrees Celsius above pre-industrial levels. Moreover, the world's oceans have also been experiencing unprecedented high temperatures, further exacerbating the situation.

YouTube integrates AI to make dubbing your videos easier

YouTube aims to simplify the process of dubbing videos in different languages by utilizing AI technology. During VidCon, the company announced its collaboration with Aloud, an AI-based dubbing service from Google's Area 120 incubator. This integration allows creators to transcribe their videos initially, providing them with a transcript that can be reviewed and edited. Subsequently, the tool translates and generates the dubbed version, facilitating multilingual accessibility for a wider audience.

Human water pumping is changing the Earth's Tilt

Between 1993 and 2010, the Earth's tilt experienced a change of 31.5 inches (80 centimeters) due to the extraction of groundwater from the planet's interior by human activities. Throughout that timeframe, approximately 2,150 gigatons of water were depleted from natural reservoirs within the Earth's crust. If this volume of water were poured into the global ocean, it would cause a surface rise of 0.24 inches (6 millimeters). A recent study has unveiled that the displacement of such a substantial amount of water has influenced the axis around which the Earth rotates.

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FK's MEDIUM BLOG

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OTHER ENGAGING READS

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is something inside you that is greater than any obstacle."

Christian D. Larson

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