Five Top Tech Takeaways: UWCISA Launches Coffee Break PD, OpenAI Drama Continues, News from Google and DeFi gets Hacked!

Gulp and Grow: Introducing Coffee Break PD's Unique Professional Development Course

We are happy to introduce the launch of Coffee Break PD, where professional development (PD) takes on a caffeinated new form! Gone are the days of dedicating entire mornings or afternoons to lengthy PD courses. We're excited to introduce our innovative, "gulp-sized" approach to PD, designed to fit seamlessly into your busy schedule.

Efficient Learning in Gulp-Sized Chunks

Our course is uniquely structured into 15-minute segments, allowing you to engage in meaningful learning over a coffee break or a quick lunch. This format not only makes learning more manageable but also more enjoyable.  

The Crypto-Double Feature: Bitcoin and the FTX Saga

This introductory course offers a dual focus:

1. Bitcoin Basics and Beyond: Delve into the world of Bitcoin, exploring its mechanics, security issues, and transaction integrity. We take you through a detailed walkthrough of a Bitcoin transaction, from initiation to its addition to the blockchain.
2. The Rise and Fall of FTX: Featuring content from Cold Fusion, a popular YouTuber known for his engaging documentary style, this segment examines the dramatic story of Sam Bankman-Fried and FTX. It's a compelling narrative that offers invaluable governance insights.

Interactive and Immediate Assessment

Each 15-minute lesson is followed by a quick quiz, allowing you to immediately apply and assess your understanding of the material. This approach eliminates the stress of a final exam, making the learning process more effective and enjoyable.

Certification and Convenience

Upon completion, you'll receive a 2.5-hour CPD certificate from the UWCISA Center, affiliated with the University of Waterloo.  

Introductory Offer: Exceptional Value for Professionals

We're offering this comprehensive 2.5-hour course at an introductory price of just $49. This is part of our commitment to making high-quality PD accessible to as many business professionals as possible. We're eager for you to experience this novel approach to earning CPD credits and to hear your feedback on the documentary style of Cold Fusion versus traditional narrative formats.

Sign up now and transform the way you learn! 

For more, check out the course site here:

 

https://courses.coffeebreakpd.com/

 

Microsoft Gains Observer Seat on OpenAI's Board

The article from The Verge discusses significant changes at OpenAI, focusing on the reinstatement of Sam Altman as CEO, Microsoft's new role on the board, and the restructuring of the board itself. Here's a summary with key takeaways:

• Sam Altman Reinstated as CEO: Sam Altman has officially returned as the CEO of OpenAI. His comeback follows a turbulent period marked by his sudden firing, which was met with widespread surprise and concern within the AI community.
• Microsoft's Enhanced Role: Microsoft, a major investor in OpenAI, has been granted a non-voting observer seat on OpenAI's nonprofit board. This move increases Microsoft's visibility into OpenAI's operations, reflecting its significant stake and interest in the company's future.
• Board Restructuring: The OpenAI board has undergone a major restructuring. Two of the four members who initially decided to fire Altman are no longer on the board. This includes Tasha McCauley and Helen Toner, who were both part of the effective altruist movement. The movement fell into disrepute due to the actions of Sam Bankman-Fried at FTX. The new board comprises Bret Taylor (Chair), Larry Summers, and Adam D’Angelo, the latter being the only member from the previous board.

On a separate, but related note, the UK competition authority is now looking into OpenAI due to Microsoft's involvement on the board.

(Source: The Verge)

Gemini: Google's Vision for the Future of AI

Google has recently announced the launch of Gemini, a new multimodal AI model family designed to surpass the capabilities of OpenAI's GPT-4. Gemini, which is an advancement over Google's previous model, PaLM 2, has demonstrated superior performance in 30 out of 32 widely used academic benchmarks in large language model research. This AI model is capable of processing various types of input, including text, code, images, and audio, and aims to provide accurate problem-solving, advice, and answers across different fields. Google plans to integrate Gemini into its products, enhancing computing capabilities. Gemini will be available in three versions: Gemini Ultra for complex tasks, Gemini Pro for a wide range of tasks, and Gemini Nano for on-device tasks. Currently, only the mid-level Gemini Pro is accessible to the public through Google Bard, showing significant improvements over its predecessor.

Key Takeaways:

• Multimodal Capabilities: Gemini's ability to process multiple types of input, such as text, code, images, and audio, marks a significant advancement in AI technology.
• Three Versions for Different Needs: Gemini is tailored to various applications, with Gemini Ultra for complex tasks, Gemini Pro for general tasks, and Gemini Nano for local device applications.
• Integration into Google Products: Google's plan to incorporate Gemini into its product ecosystem signifies a major step towards more sophisticated and integrated AI solutions.

(Source: Ars Technica)

Google Strikes a $100 Million Deal with Canada on Online News Act

Google and the Canadian federal government have reached a significant agreement regarding the Online News Act. This deal will enable Google to continue sharing Canadian news online, in exchange for making annual payments to news companies, estimated to be around $100 million. This agreement, which addresses Google's concerns about the mandatory negotiation model and structural issues of the Act, allows Google to negotiate with a single group representing all media, reducing arbitration risks. The agreement is seen as a victory for Canadian media and may set a precedent for other countries. However, Meta (Facebook's parent company) has not resumed negotiations and has stopped distributing Canadian news on its platforms.

Key Takeaways:

• Annual Payments to News Companies: Google will make annual payments estimated at $100 million to Canadian news companies.
• Single Negotiation Group: The deal allows Google to negotiate with a single representative group for all media, simplifying the process and reducing risks.
• Precedent for Future Agreements: This agreement could serve as a model for other countries in their dealings with tech giants over news content distribution.

(Source: CBC)

The KyberSwap Saga: Hacker's Bold Power Play in Crypto Heist

The KyberSwap hack is a remarkable event in the cryptocurrency world, involving a sophisticated breach and a hacker with demands akin to a spy novel's plot. The heist, which occurred on November 22, 2023, resulted in the theft of approximately $48 million from KyberSwap's liquidity pools across multiple blockchains. The hacker, self-titled "Kyber Director," made outlandish demands, including complete executive control over KyberSwap, full authority over KyberDAO, and access to all company-related documents and assets. These demands, which were communicated on-chain, also promised a transformation of KyberSwap, including buyouts for executives, doubled salaries for employees, and rebates for liquidity providers, with a deadline set for December 10. The hacker's approach and the nature of the demands highlight the unique and sometimes surreal challenges faced in the realm of decentralized finance.

Key Takeaways:

• Massive Financial Impact: The hack led to a significant loss of $48 million, affecting multiple blockchains.
• Unprecedented Hacker Demands: The hacker's demands for complete control over KyberSwap and access to all company assets are unusually extreme and audacious.
• Potential Transformation of KyberSwap: The hacker's promises, if met, could lead to a complete overhaul of KyberSwap's operations and management.

(Source: Interchain Info)

Author: Malik Datardina, CPA, CA, CISA. Malik works at Auvenir as a GRC Strategist that is working to transform the engagement experience for accounting firms and their clients. The opinions expressed here do not necessarily represent UWCISA, UW, Auvenir (or its affiliates), CPA Canada or anyone else. This post was written with the assistance of an AI language model. The model provided suggestions and completions to help me write, but the final content and opinions are my own.

Five Top Tech Takeaways: MBAs vs AI, Bitfinex Hacker Comes Clean, and Big Open AI and Google Bard Updates

Strategy.ai 

EY Unveils Fruits of $1.4 Billion Artificial Intelligence Investment: 

Consulting firm EY has invested $1.4 billion in artificial intelligence and developed its own large language model, EY.ai EYQ, marking the latest in a series of substantial AI investments by professional services companies. EY plans to train its 400,000 employees on AI and will continue to refine its AI model, focusing on ensuring privacy and data security. This investment follows similar commitments from peers like KPMG, Accenture, PricewaterhouseCoopers, and Deloitte, reflecting a broader trend in the industry. The firm aims to alleviate uncertainties surrounding AI implementation and offer comprehensive solutions, addressing the growing demand for AI strategies among corporate technology leaders. The EY.ai platform embeds AI in new and existing products, providing a structured path for effective AI deployment at scale.

Tech Entrepreneur Admits to Being Hacker in $4.5 Billion Bitcoin Heist: 

Ilya Lichtenstein, a tech entrepreneur from New York, has confessed to orchestrating one of the largest crypto heists in history, involving the theft of bitcoins now valued at billions of dollars from crypto exchange Bitfinex in 2016. Lichtenstein and his wife, Heather Morgan, pleaded guilty to conspiring to launder the stolen digital currency and defrauding the U.S. The stolen bitcoins, initially worth about $71 million, have surged in value to $4.5 billion. Federal prosecutors have recovered over $4 billion of the stolen funds, and Lichtenstein is cooperating with the government to recover the remaining amount. Despite their criminal activities, the couple maintained a high profile, with Morgan even writing a column for Forbes and pursuing a career as a rapper under the name Razzlekhan. (Do note that her music is terrible and cringe-worthy.)  Lichtenstein faces up to 20 years in prison, while Morgan faces up to five years for each of her two charges. (Source: WSJ)

Generative AI Outshines Wharton MBAs in Idea Generation

A study conducted at the Wharton School compared the innovative idea generation of MBA students to ChatGPT, a large language model. The study found that ChatGPT could generate ideas more quickly and, on average, of higher quality than the students. When market tested, the average purchase probability of a human-generated idea was 40%, while it was 47% for untrained ChatGPT and 49% for trained ChatGPT. When considering only the top 10% of ideas, 35 out of 40 were created by ChatGPT. This suggests that generative AI models like ChatGPT can be a valuable source of innovative ideas, shifting the bottleneck in the innovation process to evaluating rather than generating ideas. The study advocates for a collaborative approach where AI serves as a co-pilot to human innovators, ensuring a thorough exploration of possible solutions. (Source: WSJ)

AI Foundation Models: UK Government's Initial Report 

The UK government has published an initial report on AI foundation models (FMs).  FMs are pivotal in transforming industries, offering enhanced products, services, and breakthroughs in various domains. The document emphasizes the importance of competition, adherence to consumer and competition laws, and considerations for safety, data protection, and intellectual property rights.  It emphasizes the need for responsible AI practices to ensure ethical use and mitigate potential risks. The report provides a framework for policymakers, researchers, and industry stakeholders to navigate the complex landscape of AI. It also advocates for a collaborative approach involving leading FM developers, innovators, government, and regulators, with an update on principles and adoption due in early 2024 (Source: UK Government, Engadget).

OpenAI's ChatGPT Updates:

OpenAI has introduced several new capabilities to ChatGPT. Users can now interact with ChatGPT through both text and voice, allowing for more dynamic conversations. Additionally, ChatGPT has gained the ability to perceive visual information, enhancing its utility.

OpenAI has also introduced DALL-E 3, a significant improvement from DALL-E 2. This new version can generate higher quality images from the same prompts, providing better visual representations. This feature is available through the ChatGPT Plus subscription, which costs $20 a month. Subscribers will have exclusive access to this advanced feature.

DALL-E 3 can also generate letters, a significant accomplishment for AI image generators. It has overcome previous limitations, now being able to accurately generate images of fingers and hands, which had been problematic. Furthermore, it excels in text-based prompting, putting it ahead of the competition, including models like Mid Journey. (OpenAI, OpenAI)

Google's Bard Updates:

Google's Bard has received a massive update, enhancing its chatbot capabilities.  The updates include integration with Google’s suite of tools like YouTube, Google Drive, and Google Flights, allowing users to ask Bard to plan trips with real flight options or summarize documents from Google Drive. Bard can now communicate in multiple languages and has new fact-checking capabilities, allowing users to verify the accuracy of its responses with a “double check” button, highlighting areas where Google Search results confirm or differ from the chatbot’s statements. This feature aims to counter AI “hallucinations,” where the AI makes confident but incorrect statements. Users can also link Gmail, Docs, and Google Drive to Bard for personalized assistance, with the assurance that their personal information will not be used for training Bard or for targeted advertising. The updates reflect Google's ongoing efforts to advance consumer-facing AI technologies and enhance user interaction with generative AI across its services.

Canadians should note that Google Bard is currently not available in Canada, and there is no indication of when it will be released in the country. (Source: Google, CNN, BNN)

 

Author: Malik Datardina, CPA, CA, CISA. Malik works at Auvenir as a GRC Strategist who is working to transform the engagement experience for accounting firms and their clients. The opinions expressed here do not necessarily represent UWCISA, UW, Auvenir (or its affiliates), CPA Canada or anyone else. This post was written with the assistance of an AI language model. The model provided suggestions and completions to help me write, but the final content and opinions are my own.