“Success in creating AI would be the biggest event in human history. Unfortunately, it might also be the last, unless we learn how to avoid the risks.” – Said English theoretical physicist Stephen Hawking
Navigating the labyrinth of online dating often feels like trekking through a minefield of ghosting, harassment, and conversations that fizzle out before they even ignite. But what if artificial intelligence could sweep away those human foibles? That's precisely what a burgeoning batch of startups are pledging.
Welcome to the era of AI-enhanced dating apps, where the monotony of small talk and the daunting task of picking a suitable match can be outsourced to a clever algorithm. Some apps even let you go on a “date” with the AI itself! While traditional swipe-based platforms like Hinge, Tinder, and Bumble have been employing algorithms for a while, these new players on the dating scene are attempting to up the ante with a touch of robotic charm.
This AI romance is still in its courtship phase, though. Compared to the current dating giants, the technology seems a tad more eccentric, promising much but still needing a few more dance lessons before it can truly woo.
With the global dating app market dancing to the tune of $4.94 billion, the stakes are high. So, let’s check out these AI-driven Cupids in the market today.
Everyone attempting to succeed in finding a match knows that mastering small talk in the dating world can feel like a Herculean task. This is where TeaserAI enters.
Unveiled this June, Teaser AI is a technological Cupid, promising a landscape with "less ghosting, more matches," where digital silence is replaced with engaging chit-chat – courtesy of a bot, of course. The platform promises that no one faces the cold shoulder of indifference.
Instead, they're greeted by a chatterbox bot, eager to reply. The twist? The app's users tutor these automated companions to mirror their speech quirks, allowing them to serve as "teasers" with potential partners or their digital counterparts. If the conversation strikes the right chord, the human creator is summoned to the stage to possibly set a real date.
This clever bypassing of small talk aims to pave the way for profound dialogues at a record pace. Efficient? Certainly. Flawless? Not quite.
A dive into Teaser's chatbot shows a rather imaginative interpretation of basic facts. Still, the fantastical deviations of the platform are generally shrugged off. Ultimately, the chatbots, once trained, become "pretty close to something that sounds like you."
At this point, the system is painted as a charming entity, full of quirks and personality, and transparent in distinguishing AI-driven conversation from human interaction. As for Teaser AI's access to your love life?
You can play the field with five daily curated matches at no cost or upgrade to premium at $39.99 a month for more connections and insights into the occasional rejection. But keep in mind, this digital matchmaker is still in its beta phase, polishing its arrows and refining its aim.
Venturing beyond the realm of Teaser AI, there’s Iris Dating, a platform that has embarked on a futuristic romance quest where love is determined by the keen eye of artificial intelligence.
Its creators explained that the AI within the app calculates attraction by examining facial features, right down to the precise distance between the eyes. Shift those eyes a millimeter, and "the magic is gone," capturing the fine line between allure and indifference. And it seems the magic has indeed sparked for some.
With over 1 million users, the app has danced its way into success stories, including a Florida couple now happily married and expecting a tiny new addition to their love story.
However, it's not all fairytales and wedding bells. Despite their best attempts to train the AI, some matches fell flat, missing that spark of attraction. The company’s response? Others may find you attractive, even if the AI failed to ignite a connection.
But fret not, lovelorn users, for an update in September promises to tackle this hiccup in modern-day matchmaking.
Iris Dating offers its love-seeking algorithms for free, or for the serious romantics, a $5.99-per-month premium subscription grants a peek at all those who have "liked" you. After all, in the digital age, love might just be a swipe, a click, and an algorithm away.
As love's mysteries continue to evolve, so does the technology that tries to decipher them. Enter Blush AI, springing from the same minds behind AI chatbot powerhouse Replika.
Envision it as an "AI-fueled dating training ground," a place to kindle not just imaginary affections but a more profound sense of self-assurance. The creative force behind this innovation sees it as a tool to foster emotional ties, a virtual wingman to bolster the confidence of those navigating love's mysterious waters.
In the grand scheme of digital flirtation, Blush still seems to be finding its feet, fumbling like a shy suitor on a first date. Want to give it a whirl? Chatting's on the house with a few select matches, or plunge into unlimited character encounters and virtual role-play rendezvous for $14.99 monthly. A premium subscription might just be your ticket to mastering the art of digital allure.
But what happens when love's journey leads us to the rocky shores of relationship despair?
Have no fear, for Breakup Buddy might be the lifeline you've been looking for. Born from the ashes of its developer's own love life, this app isn't just a cold, calculating algorithm—it's an empathetic friend ready to lend an ear.
Harnessing the power of advanced AI, Breakup Buddy has been finely crafted into more than just a chatbot; it's a self-help guru, a digital companion that guides the wounded heart, steering its users away from the dark abyss of unhealthy thoughts.
Some have even heralded this virtual friend as more helpful than their own therapist, proclaiming on social media, "Breakup Buddy is better than my therapist."
In a world where AI dating apps often prey on loneliness, Breakup Buddy takes a noble stand. It's not just there to find you another date; it's there 24/7 to remind you of your own worth, helping you to understand what you truly need from a future partner. And the best part? This supportive friend comes at a friendly price: $18 a month, or a discounted $12 a month if you commit to healing your heart for six months.
Clearly, the digital world is beguiling, as AI can craft responses mirroring human sentiment, but don't be fooled, there's no heart or soul behind the machine. After all, such artificial interaction can foster a mesmerizing relationship with bots that's as elusive as it is potentially injurious.
If the populace begins to lean on an app like a crutch, it might wave a triumphant flag for corporations, but at what cost? It's an uncanny drift that "loosens the ties between people and our innate human connection.”
However, there's more lurking beneath the surface.
The data feeding these AI systems may mirror our own imperfections, reflecting human biases, and thus, chatbots might unwittingly adopt opinions that border on the controversial, alert the guardians of ethics.
And what of the emotional battleground? This is where it’s critical to bear in mind that the rise and shine of dating apps hinge on the fragile emotional states of their users. Should users find themselves ensnared in an emotional web with an AI, an unexpected twist in algorithms could unravel distressing consequences.
It seems the fear that society is spiraling into a pit of loneliness is not unfounded. However, instead of a remedy, these apps loom as a shadow, "probably more of a problem than a solution." Proceed with caution, for the digital embrace may be colder than it appears.
Global Market Comments
August 16, 2023
Fiat Lux
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You really are the brightest most interesting and most intelligent man I and most certainly many have ever had the good fortune to be connected with!!
We’re so glad you made it home safely! Thank you for your lifetime of service to humanity and for sharing your knowledge and experiences!
I look forward to our postponed lunch together as your Concierge Client. There are a couple of fantastic Sushi places here in Burlingame! Can we calendar that?
Best,
Brenda
Here Comes the Heat-Induced Recession.
Large parts of the UK economy are shutting down today, including the entire rail system, due to extreme heat. The temperature in London today is expected to top a record 107 degrees. Much of Britain’s infrastructure is simply not designed to operate at these temperatures.
France is worse, with temperatures there reaching 113 degrees. It will not be the last time that temps get this high. As for Southern Italy, it has become uninhabitable by humans at 116 degrees.
That brings the prospect that weather forecasts may become a much more important aspect of stock market predictions than they have in the past. Just like we have to now include new covid cases and deaths as part of our daily calculation, so might the high temperature of this day.
The temperature has in effect become a new economic indicator.
As for me, I am high in the Alps at 7,000 feet where it is a much more comfortable 80 degrees. The rivers are roaring below me with record glacier melts, tar on the roads is melting, and it is too hot to hike. With ice disappearing, there is talk of the Matterhorn breaking apart.
But at least I can catch up on my paperwork. The trouble is, so is everyone else and my Internet speed has slowed from 45 megabytes per second to an unusable 10.
Below is an email I received from British Rail which I rode only last week.
Dear Customer,
You may be aware that Network Rail has urged people across the country to only travel if absolutely necessary on Monday 18 and Tuesday 19 July. This comes as a result of the extreme heat forecast for these two days.
On Monday and Tuesday, temperatures are expected to reach up to 42°C in London and the surrounding area, and the mid-30s in the western parts of our network. As rail temperatures can be up to 20°C higher than the air around them, there is a risk of them buckling in the extreme heat.
As a result, Network Rail will introduce speed restrictions across the network to minimize the force on the tracks and reduce the chance of buckling. These speed restrictions will, in turn, make journeys longer and we will introduce a reduced service on Monday and Tuesday in a bid to give our customers certainty on what will run.
The speed restrictions will particularly affect our mainline services, with long-distance services to Exeter, Salisbury, Bournemouth, Weymouth, Southampton, and Portsmouth most likely to be impacted.
Service changes are likely to appear in journey planners at short notice, so anyone who chooses to travel despite the warnings on Monday or Tuesday is urged to check their journey before setting off and to expect last-minute delays and cancellations.
If you have no choice but to travel, you are urged to carry water with you, cover up, and wear sunscreen when traveling. Find out more about traveling in hot weather here.
If you choose to delay your travel, please note that the original ticket restrictions will still apply. If you are using an Advance Purchase ticket, please travel as close to the original departure time as possible or make use of Book With Confidence.
Thank you for your patience and understanding.
Yours sincerely,
South Western Railway
Mad Hedge Biotech and Healthcare Letter
August 15, 2023
Fiat Lux
Featured Trade:
(UNPACKING A PHARMACEUTICAL POWERHOUSE)
(MRK)
Engaging in the pursuit of income through investing might not be the most riveting way to build wealth. Still, the story can unfold with remarkable profit when dividends remain consistent and occasionally serve as a side of growth.
Take a look at the captivating tale of Merck (MRK) shareholders. Picture this: a $5,000 investment made just five years ago that has now blossomed into $9,700 with dividends reinvested. An investment that beats the S&P 500 index's transformation of the same amount into $8,600 during that same stretch. Intrigued? You should be.
Now, let's dive deeper into this pharmaceutical marvel, a proud member of the Dow Jones Industrial Average.
Few players in the pharmaceutical landscape embrace innovation quite like Merck, an arena where it generously dispensed $13.5 billion on research and development in 2022.
That's a whopping 23% of its impressive $59.3 billion in total revenue for that year.
From the game-changing oncology drug Keytruda to the vital human papillomavirus vaccine Gardasil, Merck's pharmaceutical arsenal boasts seven products, each teetering on the brink of exceeding $1 billion in sales by 2023.
Emerging from its New Jersey hub, Merck's total sales displayed a modest 3% growth year-over-year, totaling $15 billion in Q2.
But factor in the robust U.S. dollar's foreign exchange influence, and you'll discover a currency-neutral surge of 7% for that quarter. A deep dive into these numbers would reveal an increase in sales in five out of seven of Merck's blockbuster products.
The spectrum of growth ranged from a modest 1% for its ProQuad/M-M-R II/Varivax vaccine franchise to a meteoric 53% for Gardasil.
Even the 30% and 23% YoY sales dips in diabetes medicines Januvia and Janumet couldn’t dim the sparkle, as generic competition in Europe and U.S. pricing challenges were handily offset.
The plot thickens with Merck's Q2 non-GAAP net loss per share of $2.06. Unravel this figure, and you’ll find that, excluding the $4.02 per share acquisition charge for Prometheus Biosciences, adjusted diluted EPS actually rose 4.8% YoY to $1.96.
Notably, the acquisition of Prometheus, a spotlight on immune-mediated disease treatments, fortifies Merck's immunology pipeline, adding the promising PRA-023 drug candidate for ulcerative colitis and Crohn's disease.
Merck's R&D treasure trove is far from empty.
With over 100 projects in phase 2 or phase 3 clinical trials, gems like the pulmonary arterial hypertension drug candidate sotatercept stand out, projected to reach annual peak sales of $3 billion to $4 billion.
Moreover, Merck's adjusted diluted EPS is projected to rise 9.4% annually for the next half-decade, outpacing the industry's 8.5% consensus.
Merck's 2.8% yield isn't just numbers on a page; it's a tantalizing promise, especially when juxtaposed against the S&P 500 index's 1.5% yield. And the intrigue deepens when you learn that Merck's quarterly dividend per share soared 52% higher in a mere five-year span.
Expect the threads of mid- to high-single-digit annual dividend growth to weave into the future, enabled by a strategic dividend payout ratio of just 41% for 2023, excluding the Prometheus acquisition charge. After all, the company has shown excellent strategies in terms of capitalization on growth opportunities and further fortification of the balance sheet.
With shares surging 21% higher in the past 12 months, Merck's momentum isn't just business—it's also in the stock. And yet, there's still more to be uncovered for income investors.
Consider Merck's forward P/E ratio of 12.4, a figure that ducks below the drug manufacturer industry average of 13.3. These numbers sketch a compelling picture where above-average growth potential meets below-average valuation. Analysts pencil in an average 12-month share price target of $125—a striking 19% upside from the current $105 share price.
In the grand tapestry of investment opportunities, Merck's stock elegantly stitches together an engaging and profitable narrative, making it an alluring buy for income investors at this juncture. It's not just a chapter in the book of investment—it's a whole saga waiting to be read.
Global Market Comments
August 15, 2023
Fiat Lux
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(WHAT’S A POTENTIAL $2 TRILLION GREEN FUEL SOURCE – LET’S TAKE A LOOK AT HYDROGEN)
August 14, 2023
Hello everyone,
Hydrogen equities have been tossed about and beaten down in recent months. However, many analysts, believe that this sector remains central to the energy transition and could become a $1 trillion to $2 trillion -size market by 2050.
What deflated hydrogen stocks?
Higher interest rates.
Lack of profitability and improvements in batteries.
To support the hydrogen sector, countries around the world have brought in policies.
Analyst, Neil Beveridge comments that The U.S.’s Inflation Reduction Act and Programs in the European Union and China support the demand case for hydrogen.
Beveridge goes on to argue that most energy companies believe that hydrogen will play an important part in their business in the future. Importantly, he also points out that there are simply no alternatives in areas such as heavy industry, chemicals, and heavy transport. Green hydrogen, he believes, will be the driver of momentum in the industry. It’s the “cleanest” method of hydrogen production fuelled by renewable energy sources, while blue hydrogen is produced from natural gas mixed with hot steam and a catalyst.
Do we want a fast and cheap solution to decarbonization? – then a mix of green and blue hydrogen could be our answer.
Beveridge notes that over the past year, there has been a 200% increase in blue hydrogen projects announced, amounting to 14 million tons per annum.
Hydrogen demand in the U.S. alone could increase up to 17 million metric tons by 2025 and 63 million metric tons by 2050. The heightened demand will in turn result in rapid growth within the hydrogen generation sector at a compounded annual growth rate (CAGR) of at least 9.2% into 2025, resulting in a forecasted market value of $201 billion.
The hydrogen industry is still in its early stages of development, and growth may not start to show a steady pace until 2025. However, the policies are in place to support this industry and analysts remain optimistic about the future.
TOP HYDROGEN STOCK PICKS
Plug Power stock has fallen more than 27% year to date, but many analysts are arguing that shares could double in value from its present price.
Plug Power is targeting $3 billion in revenue by 2025 and $5 billion by 2026 and has firm plans in place in terms of electrolyser deliveries in the U.S.
Why Plug matters!
PLUG’s key hydrogen product and solution offerings currently include the following:
- GenDrive – A hydrogen-fueled polymer electrolyte membrane (“PEM”) fuel cell system used in powering material-handling industrial vehicles, including electric forklifts, Automated Guided Vehicles, and ground support equipment.
- GenFuel – A liquid hydrogen fueling delivery, generation, storage, and dispensing system that could be installed on client-site to facility refueling of hydrogen fuel cells.
- GenSure – A stationary fuel cell solution that supports the power requirements of the telecommunications and utility sectors; examples of GenSure applications include serving as backup power generators for data centers and power grids.
- ProGen – A fuel cell engine technology currently used in mobility and stationary fuel cell systems, as well as engines in electric delivery vans.
- GenFuel Electrolyzes – A modular and scalable hydrogen generator that splits water using renewable energy inputs, such as solar or wind power, into green hydrogen and oxygen through a process called “electrolysis.”
- GenCare – An internet-of-things-based maintenance and on-site servicing program for the GenDrive, GenSure, GenFuel, and ProGen systems
- GenKey – A vertically integrated turnkey solution that bundles PLUG’s product and service offerings based on customer needs.
Bloom Energy is another U.S.-based hydrogen company. The stock has declined 21.3% year to date. Many analysts forecast that the shares could rally 73% over the next 12 months.
Doosan Fuel Cells is a hydrogen company based in South Korea. It trades in the U.S. through over-the-counter securities. It is a leader in developing the technology used for fuel cells in stationary power. Bernstein points out that the stationary power market is forecasted to grow 75% in 2023 on a year-over-year basis.
The next five to ten years will be an opportune time for the hydrogen industry. PLUG has an established reputation in the industry and advanced technology as well as an impressive list of customers (e.g., Amazon, (AMZN) Walmart (WMT), and The Home Depot (HD). The transition to alternative energies should see this industry boom in the decades ahead.
Please note that I am not making any recommendation to buy any of the shares here. I am simply sharing analysts’ views on the top stocks in this industry with an eye on what could happen in the future. The industry looks promising, and prices of these top stocks look attractive. Any purchase of a parcel of shares in this industry would be done with a long-term perspective.
Wishing you all a great week.
Cheers,
Jacquie
Transforming Regulatory Compliance: The Power of AI in the Financial Sector
In today's rapidly evolving financial landscape, regulatory compliance is a cornerstone of stability and integrity. As markets grow more complex and regulations become increasingly stringent, financial institutions are embracing technological advancements to navigate the intricate web of compliance requirements. One of the most transformative forces in this regard is Artificial Intelligence (AI), which is proving to be a game-changer in streamlining and enhancing regulatory compliance processes across the financial sector.
The Challenge of Regulatory Compliance
Regulatory compliance is a multifaceted challenge for financial institutions. The sector is governed by an array of rules and regulations aimed at safeguarding market stability, preventing financial crimes, and protecting consumers. Compliance teams must interpret and apply these rules to their operations, monitor transactions for suspicious activities, and report to regulatory authorities in a timely and accurate manner. Failing to meet compliance standards can result in hefty fines, legal repercussions, and reputational damage.
Enter AI: The Compliance Revolution
AI's ability to process vast amounts of data, recognize patterns, and make informed decisions makes it an ideal tool for addressing the complexities of regulatory compliance. Here's how AI is revolutionizing compliance practices in the financial sector:
1. Automated Data Analysis and Monitoring
Traditionally, compliance teams manually sifted through mountains of data to detect anomalies or potential violations. AI-driven systems can automate this process, analyzing vast volumes of data in real-time to identify unusual patterns or transactions that warrant further investigation. Machine learning algorithms continuously learn from new data, refining their ability to detect emerging risks and evolving compliance breaches.
2. Fraud Detection and Prevention
Financial institutions face a constant battle against fraudsters seeking to exploit vulnerabilities. AI-powered fraud detection systems can recognize suspicious behaviors and transactions based on historical patterns and real-time data. These systems can flag transactions that deviate from established norms, helping institutions thwart fraudulent activities before they escalate.
3. KYC and Customer Due Diligence
Know Your Customer (KYC) and Customer Due Diligence (CDD) processes are fundamental to anti-money laundering (AML) efforts. AI can facilitate the efficient collection and analysis of customer data, automatically cross-referencing information against watchlists and identifying high-risk individuals. This streamlines the onboarding process while ensuring compliance with AML regulations.
4. Regulatory Reporting
AI technologies can simplify and expedite regulatory reporting processes. By extracting relevant information from various sources, AI systems can generate accurate and timely reports that adhere to regulatory guidelines. This reduces human errors and ensures that reports are consistently compliant, mitigating the risk of regulatory fines.
5. Risk Assessment and Management
AI-driven risk assessment models can predict potential compliance breaches by analyzing historical data and market trends. These models help institutions allocate resources more effectively, focusing on high-risk areas while optimizing compliance efforts across the organization.
6. Adapting to Regulatory Changes
Regulations are not static; they evolve with the changing financial landscape. AI can swiftly adapt to new regulatory requirements by analyzing the changes, identifying relevant impacts on existing processes, and implementing necessary adjustments. This agility ensures that institutions remain compliant in an ever-changing regulatory environment.
7. Behavioral Analysis
AI can analyze employee behavior to detect any potential breaches of compliance policies. By monitoring actions, communications, and interactions, AI can identify deviations from established norms, helping institutions maintain a culture of compliance within their workforce.
8. Reducing False Positives
Traditional compliance systems often generate a significant number of false positives, leading to wasted time and resources. AI can refine the accuracy of alerts by learning from historical data, thereby reducing false positives and allowing compliance teams to focus on genuinely suspicious activities.
9. Enhancing Anti-Money Laundering Efforts
AML compliance is a critical concern in the financial sector. AI can analyze transaction patterns, detect unusual activities, and recognize potential money laundering schemes. This technology enables institutions to avoid sophisticated money laundering techniques and report suspicious activities more effectively.
10. Internal Controls and Auditing
AI systems can monitor internal controls and perform continuous audits, ensuring that compliance processes are followed consistently across the organization. This proactive approach reduces the likelihood of compliance breaches and enhances the institution's overall risk management framework.
Conclusion
The financial sector's journey toward enhanced regulatory compliance has been significantly accelerated by the integration of AI technologies. By automating data analysis, detecting fraud, expediting regulatory reporting, and adapting to regulatory changes, AI is transforming how financial institutions approach compliance. The shift from manual, resource-intensive processes to AI-driven automation not only improves efficiency but also reduces the risk of compliance breaches and the subsequent consequences.
As the financial industry continues to embrace AI-driven solutions, it's imperative to strike a balance between technological innovation and the human expertise that underpins compliance efforts. While AI streamlines processes and enhances decision-making, the collaborative efforts of compliance professionals and AI systems will shape a more resilient, transparent, and compliant financial ecosystem. The future of regulatory compliance undoubtedly rests at the intersection of human ingenuity and AI's computational prowess.
Midjourney prompt: “Your friendly AI compliance officer”