Kiss cam incident reveals dangers of AI
The pair's awkward reaction to the camera led to widespread speculation about a possible secret relationship. Within hours, what should have been an ordinary moment at a concert escalated into a viral scandal.
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New Straits Times
6 hours ago
- New Straits Times
Humanoid robots embodiment of China's AI ambitions
SERVING craft beer, playing mahjong, stacking shelves and boxing, the dozens of humanoid robots at Shanghai's World AI Conference (WAIC) this weekend were embodiments of China's growing AI prowess and ambition. The annual event is primed at showcasing China's progress in the ever-evolving field of artificial intelligence, with the government aiming to position the country as a world leader on both technology and regulation as it snaps at the United States' heels. Opening the event on Saturday, Premier Li Qiang announced China would set up a new organisation for cooperation on AI governance, warning the benefits of development must be balanced with the risks. But in the cavernous expo next door, the mood was more giddy than concerned. "Demand is currently very strong, whether in terms of data, scenarios, model training, or artificial construction. The overall atmosphere in all these areas is very lively," said Yang Yifan, R&D director at Transwarp, a Shanghai-based AI platform provider. This year's WAIC is the first since a breakthrough moment for Chinese AI this January when startup DeepSeek unveiled an AI model that performed as well as top US systems for an apparent fraction of the cost. Organisers said the forum involved more than 800 companies, showcasing over 3,000 products – the undeniable crowd pleasers being the humanoid robots and their raft of slightly surreal party tricks. At one booth, a robot played drums, half a beat out of time, to Queen's "We Will Rock You" while a man in safety goggles and a security vest hyped up a giggling crowd. Other droids, some dressed in working overalls or baseball caps, manned assembly lines, played curling with human opponents or sloppily served soft drinks from a dispenser. While most of the machines on display were still a little jerky, the increasing sophistication year-on-year was clear to see. The Chinese government has poured support into robotics, an area in which some experts think China might already have the upper hand over the United States. At Hangzhou-based Unitree's stall, its G1 android – around 130 centimetres (four feet) tall, with a two-hour battery life – kicked, pivoted and punched, keeping its balance with relative fluidity as it shadowboxed around a ring. Ahead of the conference's opening, Unitree announced it would launch a full-size humanoid, the R1, for under US$6,000. Most high-tech helpers don't need hardware though. At the expo, AI companions – in the form of middle-aged businessmen, scantily clad women and ancient warriors – waved at people from screens, asking how their day was, while other stalls ran demos allowing visitors to create their own digital avatars. Tech giant Baidu on Saturday announced a new generation of technology for its "digital humans" – AI agents modelled on real people, which it says are "capable of thinking, making decisions, and collaborating." The company recently ran a six-hour e-commerce broadcast hosted by the "digital human" of a well-known streamer and another avatar. The two agents beat the human streamer's debut sales in some categories, Baidu said. Over 10,000 businesses are using the technology already, the department's head Wu Chenxia told AFP. Asked about the impact on jobs – one of the major concerns raised around widespread AI adoption – Wu insisted that AI was a tool that should be used to improve quality and save time and effort, which still required human input. For now, few visitors to the WAIC expo seemed worried about the potential ramifications of the back-flipping dog robots they were excitedly watching. "When it comes to China's AI development, we have a comparatively good foundation of data and also a wealth of application scenarios," said Transwarp's Yang.
New Straits Times
12 hours ago
- New Straits Times
US investment firm in talks to buy ST Telemedia Global Data Centres
SINGAPORE: US investment firm KKR is in talks to buy Singapore-based ST Telemedia Global Data Centres in a deal that could value the Asian infrastructure provider at more than US$5 billion, Bloomberg News reported on Saturday, citing people familiar with the matter. KKR and STT declined to comment to Reuters' requests for comments on the report. KKR is already a backer of the closely held data centre company with a 14.1 per cent stake, Bloomberg News reported. In 2024, a consortium of KKR and Singapore Telecommunications invested S$1.75 billion (US$1.37 billion) in ST Telemedia, whose businesses include data centres and infrastructure technology.
Malay Mail
17 hours ago
- Malay Mail
Crypto's next big thing? Tokenisation battles hype, hurdles and hope
NEW YORK, July 27 — Tokenisation has long been a buzzword for crypto enthusiasts, who have been arguing for years that blockchain-based assets will change the underlying infrastructure of financial markets. The technology is seen as rapidly increasing in coming years, especially in the US, helped by the passage of three new bills. President Donald Trump's administration has eased regulation of the broader crypto industry, paving the way for a boom in the valuation of companies in the sector and the rapid growth of crypto-related securities. However, the growth of the market for tokenised assets has been far slower than expected in recent years, with many projects still in their infancy or not yet live. How does tokenisation work? The term 'tokenisation' is used in a variety of ways. But it generally refers to the process of turning financial assets — such as bank deposits, stocks, bonds, funds and even real estate — into crypto assets. This means creating a record on digital ledger blockchain that represents the original asset. These blockchain-based assets, or 'tokens', can be held in crypto wallets and traded on blockchain, just like cryptocurrencies. Where do stablecoins come in? Stablecoins can be seen as an example of tokenisation. They are a type of cryptocurrency designed to maintain a constant value by being pegged to a real-world currency, typically the US dollar. The issuer holds one US dollar in reserve for every dollar-pegged crypto token it creates. Stablecoins are blockchain-based tokens acting as a proxy for an asset that already exists outside the blockchain. They allow people to move money across borders without interacting with the banking system. While critics say that this makes them useful for criminals who want to avoid banks' anti-money laundering checks, stablecoin issuers say that they are a lifeline for people in countries without a developed payments system. Representations of cryptocurrencies in this illustration taken January 24, 2022. — Reuters pic Are tokenised assets taking off? Yes and no. Stablecoins have grown in recent years, with the market estimated to be worth about US$256 billion (RM1.08 trillion), according to crypto data provider CoinMarketCap, and expected to touch US$2 trillion by 2028, according to Standard Chartered. But banks have talked for years about creating tokenised versions of other types of assets, which they say will make trading more efficient, faster and cheaper, and those 'tokens' have struggled to gain traction. While there have been individual issuances, there is not a liquid secondary market for these kinds of assets. One impediment to trading traditional assets via blockchain is that banks are working on their own private networks, making it difficult to trade across platforms. What are the pros of tokenisation? Some proponents of the crypto industry have said tokenisation can improve liquidity in the financial system. Illiquid assets like real estate could be traded more easily if they are broken up into small digital tokens. It is also expected to improve access to asset classes that are typically out of reach of smaller investors by creating a cheaper entry point. Some major global banks, including Bank of America and Citi have said they could explore launching tokenised assets, including stablecoins. — Reuters pic Which companies are interested in tokenisation? Some major global banks, including Bank of America and Citi have said they could explore launching tokenised assets, including stablecoins. Asset manager BlackRock is also doubling down on the tokenisation boom, and has highlighted its ambition of becoming the largest cryptocurrency manager in the world by 2030. Coinbase, the largest US crypto exchange, is seeking permission from the SEC to offer 'tokenised equities' to its customers. How does new regulation help tokenisation? Since stablecoins themselves are tokens and seen as one of the biggest drivers of the growth of tokenisation, the new stablecoin law will end up boosting the proliferation of tokenisation, experts say. The new market structure bill, known as the Clarity Act, is expected to establish a clear framework that could enable stablecoins and other crypto tokens to become more widely used. What are the risks? Some analysts say the hype around tokenisation might be premature and caution that the rapidly growing crypto ecosystem could experience near-term turbulence due to the potential risks of a big decline in prices. European Central Bank President Christine Lagarde has warned stablecoins pose risks for monetary policy and financial stability. Some critics of the industry warn the frenzy around the new technology could introduce new systemic risks, especially in the absence of stringent regulation. They also say there is no reason why blockchain should be any more efficient than the electronic ledgers and trading systems already used in financial markets. Buyers of third-party tokens, which are issued by unaffiliated third parties — such as crypto exchange Kraken — that have custody of securities, could be exposed to counterparty risks, and regulators are sounding notes of caution. Earlier in July, Hester Peirce, a commissioner at the US Securities and Exchange Commission who has frequently spoken positively about cryptocurrency, said tokenised securities would not be able to circumvent existing securities laws. More than half of the world's US dollar stablecoins are issued by a single company, Tether, which says it manages US$160 billion in reserves, but has not undergone a financial audit. — Reuters
