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Elon Musk announces new AI startup

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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)

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Standard egg prices to be announced daily via SMS

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Chairman of the All-Ceylon Egg Producers’ Association, R.M. Sarath Rathnayake has said new measures to announce daily standardized egg prices will be introduced from next Monday (June 23) to ensure fair pricing for consumers.

The prices covering wholesale, retail, and intermediary rates will be communicated daily at 5.00am via SMS to small, medium, and large-scale egg producers, as well as bakery owners, food manufacturers, and hotels through the number 070-7030700.

He warned of recent practices where eggs were bought at Rs.15-18 and stockpiled, stating such actions will no longer be tolerated.

He also criticized groups posing as “egg associations” without actual farming experience.

The cost of producing an egg is around Rs.28 for large farms, Rs.29-30 for medium range farms, and Rs.32 for small-scale producers, he further said.

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16 bn. Apple, Facebook, Google passwords exposed

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A staggering 16 billion passwords to Apple, Facebook, Google, and various US government services have been leaked online, triggering global security alerts in what experts are calling the most significant data breach in history.

The mammoth security breach has forced Google to urge billions of users to change their passwords immediately.

At the same time, the FBI has issued warnings to Americans about opening suspicious links in SMS messages.

Cybersecurity experts at Cybernews, who investigated the breach, discovered a whopping 30 exposed datasets containing between tens of millions and over 3.5 billion records each.

Perhaps most alarmingly, researchers confirmed that nearly all these exposed datasets contain previously unreported information, making this an entirely fresh security crisis.

“This is not just a leak – it’s a blueprint for mass exploitation,” the researchers said via Forbes this week.

(news.com.au)

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New chairman appointed to CSE

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Dimuthu Abeyesekera has been appointed as the new Chairman of the Colombo Stock Exchange (CSE).

The CSE announced that Mr. Abeyesekera brings over 35 years of experience in the capital markets and has served on the CSE Board for the past six years.

He currently serves as the Director/CEO of Asha Securities Ltd, which is affiliated with Phillip Capital Singapore, a specialized financial services organization managing assets worth over US$ 35 billion with a network of offices around the world.

Abeysekera also currently serves as the Director at Asha Financial Services Ltd, a specialised margin Trading Company in Colombo.

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