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Could a $600 billion funding gap crush the AI industry?

On July 5, Microsoft co-founder Bill Gates appeared on the Next Big Idea podcast to discuss his vision for Superhuman artificial intelligence and technological progress. At the same time, it said that the enthusiasm of the AI market is far more than the Internet bubble.

Gates believes that the current threshold for entry in the AI field is very low, and the entire market is in a fever period, AI startups can easily get hundreds of millions of dollars in financing, and even have raised $6 billion (about 43.734 billion yuan) in cash for a company.

"Never before has so much capital poured into a new area, and the entire AI market has fallen into a 'frenzy' in terms of market capitalization and valuation, which dwarfs the frenzy of the Internet and automotive periods in history." Gates said.

At this stage, the rapid development of the artificial intelligence industry is a veritable gold industry, and Nvidia's market value is therefore soaring, and the total market value reached 3.34 trillion US dollars on June 18 local time, surpassing Microsoft and Apple in one fell fell, becoming the world's most valuable listed enterprise. But in fact, doubts about the field of artificial intelligence have also risen one after another and have never stopped.

The largest password leak in history exposes nearly 10 billion credentials
The largest collection of stolen passwords ever has been leaked to a notorious crime marketplace, according to cybersecurity researchers at Cybernews. This leak, dubbed RockYou2024 by its original poster “ObamaCare,” holds a file containing nearly 10 billion unique plaintext passwords. Allegedly gathered from a series of data breaches and hacks accumulated over several years, the passwords were posted on July 4th and hailed as the most extensive collection of stolen and leaked credentials ever seen on the forum. “In its essence, the RockYou2024 leak is a compilation of real-world passwords used by individuals all over the world,” the researchers told Cybernews. “Revealing that many passwords for threat actors substantially heightens the risk of credential stuffing attacks.” Credential stuffing attacks are among the most common methods criminals, ransomware affiliates, and state-sponsored hackers use to access services and systems. Threat actors could exploit the RockYou2024 password collection to conduct brute-force attacks against any unprotected system and “gain unauthorized access to various online accounts used by individuals whose passwords are included in the dataset,” the research team said. This could affect online services, cameras and hardware This could affect various targets, from online services to internet-facing cameras and industrial hardware. “Moreover, combined with other leaked databases on hacker forums and marketplaces, which, for example, contain user email addresses and other credentials, RockYou2024 can contribute to a cascade of data breaches, financial frauds, and identity thefts,” the team concluded. However, despite the seriousness of the data leak, it is important to note that RockYou2024 is primarily a compilation of previous password leaks, estimated to contain entries from a total of 4,000 massive databases of stolen credentials, covering at least two decades. This new file notably includes an earlier credentials database known as RockYou2021, which featured 8.4 billion passwords. RockYou2024 added approximately 1.5 billion passwords to the collection, spanning from 2021 through 2024, which, though a massive figure, is only a fraction of the reported 9,948,575,739 passwords in the leak. Thus, users who have changed their passwords since 2021 may not have to panic about a potential breach of their information. That said, the research team at Cybernews stressed the importance of maintaining data security. In response to the leak, they recommend immediately changing the passwords for any accounts associated with the leaked credentials, ensuring each password is strong and unique and not reused across different platforms. Additionally, they advised enabling multi-factor authentication (MFA), which requires an extra form of verification beyond the password, wherever possible, to strengthen cyber security. Lastly, tech users should utilize password manager software, which securely generates and stores complex passwords, mitigating the risk of password reuse across multiple accounts.
NHTSA opens recall query into about 94,000 Jeep Wrangler 4xe SUVs
July 9 (Reuters) - The National Highway Traffic Safety Administration (NHTSA) has opened a recall query into 94,275 Stellantis-owned (STLAM.MI), opens new tab Jeep SUVs over a loss of motive power, the U.S. auto safety regulator said on Tuesday. The investigation targets Jeep's Wrangler 4xe hybrid SUVs manufactured between 2021 through 2024. Chrysler had previously recalled, opens new tab the same model in 2022 to address concerns related to an engine shutdown. A recall query is an investigation opened by safety regulators when a remedy to solve an issue appears inadequate. The complaints noted in the new report include both failures in vehicles that received the recall remedy and those not covered by the prior recall, the NHTSA said.
Google may bring Google Wallet for Indian users
Google Wallet can help you store your IDs, driving license, loyalty cards, concert tickets and more. You can also store your payment cards and use tap to pay to pay anywhere Google Pay is accepted. Google wallet is available in various countries but Google never launched it in India. Google let indian users stick with the Gpay which facilitates UPI payments. Tap to pay is not part of it. Also we can not store things such as IDs and Passes in indian version of Gpay. This might change and Google may launch Google Wallet in India. With the recent version of Google Wallet and Google Play Services, Google has added some flags and code which indicate that Google is working on something for Indian users regarding wallet. The first change I noticed recently when going through the Google Play Services apk was addition of two new flags Both flags are part of com.google.android.gms.pay package in the Google Play Services. This package contains all the flags for features of Gpay/Wallet. Google does server side flipping of flags to enable/disable features for users. So both these flags doesn't really provide any info about what features enabling these flags is going to bring. But the point here is that Google Wallet is not launched in India so why Google added these flags inside Play Services ? The answer could be that Google may be working on bringing Google Wallet to India. It can enable tap to pay, store payments and various other features for Indian users which we don't have in the current Gpay for India. I found similar flags in the analysis Google Wallet APK - These flags are also disabled by default. But this is again a clear indication of Google working towards something for Indian users. In both cases, enabling the flags doesn't bring anything noticeable UI or feature because there is nothing much added besides flags. Google has dogfood/testing versions internally, so the code will show up slowly in upcoming versions. The last piece of code I found is also from Google Play Services. In case you don't know, Google was working on Digilocker integration in the Google Files app which was supposed to bring your digital document inside the app such as driving license, COVID certificates, aadhar card. But Google has ditched the effort of bringing these features and they removed the "Important" tab (where digilocker was supposed to be integrated) from the Google Files app completely. So things are going to change and here is how. This is the code which I found in the Google Play Services - So the word "PASS" along with PAN, DRIVERS LICENCE, VACC CERTIFICATE & AADHAR CARD, is clear indication of the possibility of Google adding support for these directly through Google Wallet using Digilocker, just like Samsung Pass does it. This code is not old as I have checked older beta versions of Play Services where this code is not present. Here is a string which was added in a previous beta version a few weeks ago but I completely ignored it because it didn't make any sense without flags and the other code - This addition was surprising because there was nothing regarding digilocker before in the Play Services. In the words "pay_valuable", the "pay" to Wallet/Gpay and "valuable" refers to the things like Passes, loyalty cards and transit cards. Since we are talking about digilocker, these "valuable" are driving license, vaccination certificate, PAN card and Aadhar card which can be store in Google Wallet after digilocker integration. That's all about it. We will know more about it in upcoming app updates or maybe Google can itself annouce something about this.
Are US development jobs falling off a cliff?
Companies are going to have fewer people and fewer layers. Ten years from now, the software development circuit may have fewer jobs, higher salaries, and more product-centric work. The reason behind it is the rapid development of AI, AI has approached human beings at the intelligence level, a lot of work relying on thinking ability may be handed over to AI, while emotion is still the territory of human beings, how to communicate and collaborate is the most important ability in the near future. When Indeed's chart for software development and operations jobs was released, we found that, as the chart shows, there was a peak in early 2022, but after that there was a precipitous decline.
Exclusive: India's Paytm gets government panel nod to invest in payments arm, sources say
NEW DELHI, July 9 (Reuters) - India's beleaguered Paytm (PAYT.NS), opens new tab has secured approval from a government panel that oversees investments linked to China to invest 500 million rupees ($6 million) in a key subsidiary, three sources with direct knowledge of the matter said. The approval, which still has to be vetted by the finance ministry, will remove the main stumbling block to the unit, Paytm Payment Services, resuming normal business operations. Paytm Payment Services is one of the biggest remaining parts of the fintech firm's business, accounting for a quarter of consolidated revenue in the financial year ended March 2023. A separate unit, Paytm Payments Bank, was wound down this year by order of the central bank due to persistent compliance issues, triggering a meltdown in Paytm's stock. The government panel had earlier held back approval due to concerns about the 9.88% stake in Paytm held by China's Ant Group. India has intensified scrutiny of Chinese businesses since a 2020 border clash between the two countries. All in all, Paytm has been waiting for the nod from the government panel for about two years and without it, it would have had to also wind down its payment services business, which was forbidden from taking on new customers in March 2023. Once the approval has been formalised, it will be able to seek a so-called "payment aggregator" licence from the Reserve Bank of India. The sources, two of whom are government sources, declined to be identified as the decision has not been formally announced. India's foreign, home, finance and industries ministries, whose representatives sit on the panel, did not reply to emails seeking comment. A Paytm spokesperson said the company does not comment on market speculation. "We will continue to make disclosures in compliance with our obligations under the SEBI Regulations, and will inform the exchanges when there is any new material information to share," the spokesperson said.