Connect with us

BIZ

Elon Musk announces new AI startup

Published

on

Tesla boss Elon Musk has announced the formation of an artificial intelligence startup.

The new company is called xAI, and includes several engineers that have worked at companies like OpenAI and Google.

Mr Musk has previously stated he believes developments in AI should be paused and that the sector needs regulation.

He said the start-up was created to “understand reality”.

It is unclear how much funding the entity has, what its specific objectives are or what kind artificial intelligence the company wants to focus on.

The company’s website says the goal of xAI is to “understand the true nature of the universe.”

The new firm will host a Twitter Spaces chat on Friday, which may reveal further details about its aims.

Elon Musk was the one of the original backers of OpenAI, which went on to create the popular large language model ChatGPT, which has – often controversially – become popular for uses such as assisting students with writing homework.

However, the billionaire’s relationship with the company has soured. He has criticised ChatGPT for having a liberal bias.

“What we need is TruthGPT”, Mr Musk tweeted in February.

He also disagrees with how ChatGPT has been run – and its close relationship with Microsoft.

“It does seem weird that something can be a nonprofit, open source and somehow transform itself into a for-profit, closed source,” Musk said in a CNBC interview.

In March Mr Musk signed an open letter calling for a pause to “Giant AI Experiments”, which to date has around 33,000 signatures.

In an interview with the BBC in April Mr Musk said he had been worrying about AI safety for over a decade.

“I think there should be a regulatory body established for overseeing AI to make sure that it does not present a danger to the public”, he said.

Mr Musk has also pitted himself against AI companies due to the data they use to train chatbots – the software that learns how humans interacts by scraping masses of data from various sources to fuel its knowledge and interaction styles.

The billionaire believes vast amounts of Twitter’s data is scraped from the platform, and that the company should be adequately compensated.

Mr Musk purchased the microblogging platform in a deal worth billions, before making sweeping changes which led to many leaving the platform in protest, including the producer of shows such as Grey’s Anatomy and Bridgerton, Shonda Rhimes, as well as model Gigi Hadid and comedian and actor Stephen Fry.

(BBC News)

BIZ

CSE to close early for LG polls

Published

on

By

The Colombo Stock Exchange (CSE) has announced that trading hours will be shortened on May 06, in view of the Local Government Elections.

On that day, trading, which commences at 9.30am, will conclude at 12:30pm – two hours earlier than the usual closing time of 2:30pm.

The CSE stated that the decision was made to accommodate the convenience of investors, staff, and other market participants during the election day.

Continue Reading

BIZ

Coconut prices soar

Published

on

By

Consumers are struggling due to a sharp rise in coconut prices across the country.

Traders say large coconuts now sell for Rs.200 – 250, while smaller ones range from Rs.175 – 190.

The steep price hike is straining household budgets and impacting small businesses that depend on coconuts for daily food preparation.

Continue Reading

BIZ

More restrictions on vehicle imports eased

Published

on

By

The Ministry of Finance has issued a new gazette notification easing several more restrictions on vehicle imports, with effect from April 29, 2025.

The directive, issued by President Anura Kumara Dissanayake in his capacity as the Minister of Finance, Planning and Economic Development, paves the way for the clearance of several types of vehicles that had been stranded at ports due to previous restrictions.

Commenting on the development, Chairman of the Sri Lanka Vehicle Importers’ Association Prasad Manage said: “We’ve been unable to clear these vehicles for the past one and a half to two months. With the new gazette, we can now release hybrid models such as the Toyota Raize and the Nissan X-TRAIL. Other hybrid vehicles using similar technology have also been approved for clearance.”

In a related move, the government has also lifted the ban on the import of unregistered new motorcycles. A separate gazette notification has been issued allowing the import of new motorcycles under a licensed import scheme.

(adaderana.lk)

(Except for the headline, this story, originally published by adaderana.lk has not been edited by SLM staff)

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved