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[timesofinnovation]

In a significant development within the realm of artificial intelligence, a diverse group of academics has been tasked with drafting a Code of Practice for general-purpose AI (GPAI). This Code aims to clarify risk management and transparency requirements for various AI systems, including the widely recognized ChatGPT. The work of these academics comes at a crucial time as concerns over the ethical implications of AI technology grapple with the demands for innovation and safety. The announcement of this academic-led initiative comes on the heels of questions raised by three influential Members of Parliament (MEPs) regarding the timing and international expertise of the appointed leaders. Despite these concerns, the working group comprises specialists from institutions around the world, ensuring a range of perspectives and expertise in the discussion. At the helm of this initiative is Yoshua Bengio, noted for his pivotal role in the development of AI and often referred to as one of its "godfathers." He will chair a group focused on technical risk mitigation, complemented by legal scholars and governance experts. Among them are law professor Alexander Peukert and AI governance authority Marietje Schaake, who bring unique insights that will guide the working group through the complexities of AI regulation. The first draft of the Code is set to be released in November, following a workshop for GPAI providers scheduled for mid-October. This timeline is strategic, aiming to align with the broader context of the European Union's AI Act, which will significantly depend on the forthcoming Code of Practice until formal standards are finalized by 2026. The urgency for this regulatory framework stems from the rapid advances in AI technology, which, while beneficial, pose significant risks if left unchecked. What makes this initiative particularly vital is its focus on risk management and transparency. The AI systems in question not only impact businesses and governments but affect individuals in their everyday lives. For instance, AI chatbots like ChatGPT have demonstrated capabilities that raise questions about privacy, misinformation, and accountability. By developing a comprehensive Code of Practice, the group seeks to address these issues systematically, ensuring that AI technology remains safe, ethical, and beneficial for society. Notably, the group's composition reflects a thoughtful approach to the multifaceted nature of AI. As AI technologies increasingly influence social and economic governance, the necessity for interdisciplinary collaboration has never been more evident. Experts from technical, legal, and social spheres will come together to create guidelines that not only support technological advancement but also protect individual rights and broader societal interests. The EU AI Act will serve as a cornerstone for this initiative. The Act outlines regulatory measures for high-risk AI, emphasizing the importance of safety and compliance for companies deploying such technologies. The Code of Practice will act as an essential supplement to the legislation, providing clarity on ambiguous areas that may hinder innovation while ensuring that stringent safety measures are in place. The forthcoming first draft of the Code of Practice is expected to outline specific strategies for managing risk, including best practices for transparency and robustness in AI algorithms. Such details are crucial as stakeholders—ranging from tech giants to small startups—seek actionable insights into how they can comply with evolving regulations while maintaining their competitive advantage. In conclusion, the development of this Code of Practice signifies a proactive stance taken by the academic community and policymakers to navigate the complex landscape of AI. By focusing on creating a framework that balances innovation with responsibility, this initiative promises to provide a roadmap for future AI developments that prioritize safety, transparency, and ethical governance.

The impact of these efforts could shape the trajectory of AI technology and its integration into society for years to come.

[timesofinnovation]

The rapid integration of artificial intelligence (AI) into workplaces has generated substantial anxiety among employees, as revealed by a recent survey from Wiley. About 96% of workers in the United States have expressed feeling stressed about the need to adapt to AI technologies in their daily tasks. This rising pressure highlights the critical importance of fostering a supportive environment that addresses both employee concerns and managerial preparedness. As AI continues to disrupt traditional work processes, many employees find themselves grappling with how to effectively incorporate this new technology. The survey data indicates that a staggering 40% of respondents struggle to integrate AI into their work routines, while 75% lack confidence in their AI skills. This scenario paints a concerning picture of a workforce that feels unprepared and overwhelmed. A compounded challenge arises for managers, with only 34% of them feeling equipped to guide their teams through the complexities of AI adoption. While 80% of employees perceive their managers as supportive, a significant 60% question their expertise in implementing AI solutions. This knowledge gap poses a real threat to successful AI adoption in organizations, potentially stalling innovation and affecting employee morale. To mitigate these stresses, employees have voiced strong preferences for structured training programs and clearer strategies from their organizations. Approximately 61% of workers believe that training specifically focused on AI tools would significantly ease the transition. Additionally, 54% advocate for a well-defined organizational strategy to streamline the integration of AI into everyday work processes. Furthermore, 48% of survey participants suggested that establishing clearer expectations regarding AI usage would bolster their confidence. Wiley's report suggests three strategic recommendations for organizations aiming to enhance AI integration within their teams. Firstly, defining specific use cases for AI can help clarify its application, making it less daunting for employees. Secondly, improving communication with team members about AI initiatives can alleviate uncertainty and foster a culture of openness. Finally, targeted training for managers is essential; equipping them with the necessary skills will enable them to provide effective leadership and support throughout the transition. Tracey Carney, the lead researcher of the study, emphasizes the dual importance of empowering both employees and managers. By ensuring that teams are well-prepared for the AI landscape, organizations can cultivate environments where innovation thrives, and productivity flourishes. This mutual preparedness is vital not only for individual success but also for the overall health of the organization in an increasingly AI-driven future. Organizations should not underestimate the scale of the challenge ahead. As AI technology evolves rapidly, tailored training and clear strategic direction become essential components of an effective transition plan. Employers must invest in their workforce's capabilities while also refining their managerial approaches to foster an atmosphere of confidence, resilience, and adaptability. The need for clear communication and effective training cannot be overstated. Organizations that prioritize these elements are not merely addressing employee stress; they are laying the groundwork for a more innovative and productive future. By committing to these changes today, companies can transform potential obstacles into opportunities for growth. In conclusion, as the workforce grapples with the implications of AI, both employees and managers must adapt. Clear strategies and robust training programs can help turn anxiety into empowerment, ensuring that workers are not just surviving in this new era but thriving through it.

[timesofinnovation]

Ohio is making strides towards modernizing its financial systems with a new proposal from Senator Niraj Antani, aimed at allowing residents to pay state and local taxes using cryptocurrencies like Bitcoin. This initiative, unveiled at the end of September, underscores Ohio's commitment to embracing digital currency and positioning itself as a leader in the integration of innovative financial technologies. Historically, attempts to modernize tax payments have faced challenges. A previous effort back in 2018 aimed to permit cryptocurrency payments, however, it fell short due to bureaucratic complications. Senator Antani's current proposal is framed to navigate these pitfalls more effectively. By mandating the acceptance of digital currencies for tax payments, the legislation hopes to create a streamlined and user-friendly process for taxpayers, who are increasingly looking for modern solutions to settle their financial obligations. The move reflects a growing trend across various states in the U.S. to incorporate cryptocurrencies into governmental financial operations. For instance, Colorado has already launched a program allowing similar tax payments since 2022. Ohio's proposal not only aims to keep pace but to set precedents in the realm of digital governance. This approach aligns with Governor Mike DeWine’s vision of fostering an innovative economic environment that supports technological advancements. One of the key advantages of this legislation is the potential financial flexibility it offers. In addition to tax payments, the bill allows state universities and pension funds to invest in digital assets, thus broadening the financial tools available to these institutions. By doing so, the proposal provides a pathway for Ohio to potentially reap the rewards of cryptocurrency's volatile yet lucrative marketplace. However, alongside optimism about innovation, the proposal has also ignited debates over privacy concerns. Critics argue that allowing the government access to taxpayers’ cryptocurrency transactions might infringe upon individual privacy rights. The fear of increased scrutiny on personal financial activities could deter some taxpayers from adopting digital currency solutions, which is counterproductive to the initiative’s goals of promoting wider acceptance of cryptocurrencies. Public discourse is essential as this bill moves forward through the legislative process. Currently, it awaits committee assignment, and its passage will depend on how effectively it addresses these privacy concerns while also demonstrating clear benefits to both taxpayers and government operations. From a global perspective, the Ohio proposal highlights a significant shift within governmental financial policies. Countries around the world are starting to recognize the potential benefits of blockchain technologies and cryptocurrencies. The integration of such digital innovations into public finance not only modernizes payment systems but also provides greater transparency and efficiency. For organizations and policymakers, Ohio's consideration of Bitcoin for tax payments serves as a case study in balancing innovation with regulatory frameworks. By evaluating the successes and challenges faced by other states, our legislators can better craft solutions that protect citizens while advancing technological adoption. In conclusion, as Ohio navigates this important legislative proposal, the outcomes will be closely watched not only by local residents but by other states considering similar initiatives. Successful or not, the journey towards integrating cryptocurrencies into municipal and state tax payments represents a crucial conversation around the future of money and governance in America. As technology continues to advance, it poses the question of how traditional systems can evolve to meet modern demands.

[timesofinnovation]

Paris Fashion Week is renowned for its creative fervor, showcasing designers who challenge traditional aesthetics. Among them, Junya Watanabe, Duran Lantink, and Chitose Abe have made significant waves with their innovative silhouettes and captivating collections for Spring/Summer 2025. Junya Watanabe, known for his boundary-pushing designs, drew inspiration from the film Ex Machina, particularly the humanoid robot Ava. This concept of blending the human form with synthetic materials was evident in his latest show. Watanabe employed unconventional textiles like polyester mesh from the Japanese motorbike clothing label Degner and recycled materials from Berlin’s Innerraum. This fusion resulted in a range of looks that were not only functional but also exuded a sculptural elegance reminiscent of haute couture. A standout element in Watanabe's collection was the use of industrial textiles combined with elaborate traditional silhouettes such as puff sleeves and layered skirts. For instance, one of the featured garments was an opera coat that creatively utilized backpacks, complete with visible straps and zippers. These elements not only highlighted the origin of the materials but also served as a testament to Watanabe’s exceptional ability to repurpose and design. Watanabe's provocative statement post-show, “I feel that abnormal clothing is necessary in our everyday life,” resonates with audiences who seek fashion that transcends the ordinary. His garments encourage the wearer to challenge societal norms regarding what constitutes “normal” attire. Then there's Duran Lantink, a rising star who has earned acclaim for his innovative approach to sustainability. He began his career by creating hybrid pieces from deadstock fabric, such as repurposed trench coats. In his Spring/Summer 2025 collection, Lantink took an economically savvy approach due to budget constraints, opting to create an entire lineup from cotton t-shirts. His goal was clear: redefine the versatility and imagination behind t-shirt fashion. With eye-catching silhouettes, Lantink transformed ordinary t-shirts into high fashion. He showcased bombers, trench coats, and even bras made from these humble fabrics. His hallmark exaggerated proportions, such as voluminous trench coats and playful cut-offs, have evolved from what some perceived as gimmicks into esteemed representations of independent fashion thought. Lantink's designs at the show, adorned with vibrant candy stripes, highlighted his whimsical aesthetic. The cheerful vibes of his collection not only enhanced the visual dynamics but also invited laughter and joy from attendees, which he regards as essential communication through fashion. Chitose Abe's brand, Sacai, celebrated its 25th anniversary at the forefront of the Paris fashion event. Recognized for her unique hybrid garments, Abe has once again proven her creative prowess. Her latest collection revisited familiar archetypes while showcasing advancements in textile technology. For instance, she introduced elegant yet casual pieces featuring sailor stripes and refined tailoring. Key pieces from her collection included jackets adorned with gold buttons and a creative combination of elements such as ruffles and fridges, creating airy silhouettes that marry both function and aesthetics. A notable innovation was the repurposing of traditional outerwear, such as reimagined parkas with cropped sleeves, enabling a samurai-esque silhouette. Through each designer's lens, it becomes apparent that the future of fashion lies in exploring beyond the conventional forms, materials, and identities. They are not just creating series of clothes but are also making statements about sustainability, individuality, and forward-thinking design. As these collections unfold on the global stage, they signal an exciting time for fashion where adaptation and innovation reign supreme. The Spring/Summer 2025 season in Paris proves that the lengths to which designers are willing to

go in their artistry reflect a commitment to pushing boundaries while clarifying their messages of inclusivity and progressive ideals. This year's Paris Fashion Week showcases not only the expected glamour but also an inspiring rejection of norms through extraordinary shapes and innovative material choices. As the industry evolves, we can anticipate even more remarkable responses from fashion's visionary narratives.

[timesofinnovation]

Deep within the Swiss Alps lies a nuclear bunker which has been transformed into a high-security vault for Bitcoin. Originally constructed to withstand the most catastrophic of events, this facility now stands as a fortress for Xapo Bank's valuable cryptocurrency holdings. With growing concerns over cybersecurity and the safety of digital assets, this unique blend of historical architecture and cutting-edge technology offers a safe haven for millions in Bitcoin. The bunker was designed to endure nuclear threats, reflecting Swiss dedication to security. However, its current function is a far cry from its past. Now outfitted with advanced security measures, it includes biometric identification systems, Faraday cages to guard against electronic surveillance, and multiparty computation (MPC) technology. These innovations not only ensure secure access but also protect the private keys necessary for managing cryptocurrency holdings. At the heart of Xapo Bank's security strategy is this MPC system. Unlike traditional multisignature methods, which require multiple signatures to authorize a transaction, MPC splits the private key into several components stored in different locations. This prevents any single entity from having complete control over the key, significantly reducing the risk of theft or loss. To put this in perspective, consider the implications of a centralized key management system. If a hacker were to seize control of the key, they could effectively take possession of all Bitcoin secured by it. With MPC, even if one segment is compromised, the remaining pieces do not enable unauthorized transactions. Thus, if an attacker intercepts part of the key, they could only gain limited access, making it virtually impossible to execute a theft. The bunker itself has undergone numerous upgrades to ensure it meets the highest standards of security. Featuring high-efficiency particulate air (HEPA) filters and advanced air circulation systems, the facility remains cool and breathable, crucial for the safe management of sensitive electronic equipment. Additionally, military-grade defenses are in place to withstand natural disasters, intrusions, or electronic attacks, ensuring the integrity of the digital assets stored within. Xapo’s clients are provided with peace of mind, as their investments are protected by what is arguably one of the most secure facilities for cryptocurrency globally. With reports indicating an increase in cyber threats targeting cryptocurrency exchanges and wallets, institutions like Xapo Bank are setting a precedent for how to protect digital currencies effectively. Moreover, the financial world is recognizing the necessity of such security measures. The rising interest in Bitcoin and other cryptocurrencies has driven institutional investment in a significant way. Firms are prioritizing the security of their digital assets to mitigate risks associated with potential hacks or losses due to compromised keys. Regulatory bodies are also taking note. As countries across the globe begin to draft legislation around cryptocurrency, the emphasis on security will likely increase. Financial firms that invest in robust security measures will not only benefit from better protection against theft but also position themselves favorably in compliance reviews and audits. In conclusion, the Swiss bunker exemplifies how blending historical architecture with modern security technology can create a secure environment for digital assets. As cryptocurrencies continue to make headlines, securing these assets in facilities like this will become a cornerstone of responsible financial management. Institutions must adapt to ever-changing cybersecurity threats, and places like the Xapo Bank bunker lead the way by setting high standards in the safety of digital currencies.

[timesofinnovation]

The landscape of global finance is changing rapidly, notably with the increasing interest in digital currencies and tokenized assets. SWIFT, the global financial messaging service, is set to take significant steps in this direction. In 2024, the organization will begin trials for live transactions involving digital currencies and tokenized assets, reflecting a clear shift toward integrating these innovations into the broader financial ecosystem. The concept of tokenization involves converting traditional assets, such as stocks or bonds, into digital formats. This process not only transforms physical assets into assets that can be easily traded but also aims to increase efficiency in trading by minimizing the need for intermediaries. SWIFT’s initiative is built on the potential benefits that tokenization can offer: faster, cheaper, and more efficient transactions. By trialing these live transactions, SWIFT hopes to highlight the advantages of incorporating digital currencies into the existing financial system. Despite the promising outlook, the widespread adoption of digital currencies and tokenization has yet to materialize fully. Currently, around 90% of central banks worldwide are experimenting with various forms of digital currencies, specifically targeted at modernization of trade and payments. With institutions like SWIFT exploring this direction, there is a growing optimism that these innovations could lead to a seamless transition into a more digitized financial reality. SWIFT has previously conducted tests related to Central Bank Digital Currencies (CBDCs), aiming to find ways to integrate them with established financial infrastructure effectively. Nick Kerigan, SWIFT’s head of innovation, noted that there is an increasing demand for real-world digital asset transactions where payment and delivery occur simultaneously. This need highlights the critical role that both wholesale CBDCs and tokenized deposits will play in creating efficient financial transactions in the future. However, a challenge presents itself in the current landscape: market fragmentation. Many of the ongoing initiatives are constrained within the internal systems of various banks, hindering the potential for broader integration and efficiency. To tackle this, SWIFT’s forthcoming trials will focus on enabling the trading of multiple digital assets across diverse platforms, fostering a more interconnected financial environment. The trials represent a significant step in realizing the potential of tokenization in facilitating seamless transactions and enhancing liquidity. Kerigan emphasizes that the emphasis on simultaneous delivery and payment in tokenized transactions embodies a critical shift in how assets are managed and traded. This not only streamlines processes but consequently reduces the operational costs associated with traditional asset trading. Investors and financial institutions alike should take note of SWIFT's endeavors. The successful implementation of these trials could lead to transformative changes across various sectors, including e-commerce and international trade. Furthermore, as institutions experiment and refine their approaches, a clearer picture of regulatory frameworks and operational models is expected to emerge. The potential for digital currencies and tokenized assets extends beyond mere financial transactions. They promise to offer a new level of transparency and security that traditional systems struggle to match. For instance, the inherent characteristics of blockchain technology—emphasizing immutability and decentralized verification—can significantly alleviate concerns regarding fraud, inefficiency, and transparency in financial operations. In conclusion, SWIFT's upcoming trials position it at the forefront of integrating digital currencies into the traditional financial ecosystem. This initiative marks an essential step in addressing the current limitations and fragmentation within the market. By enabling real-time

transactions and enhancing the interconnectivity of financial assets, SWIFT is not only paving the way for future innovations but also playing a significant role in redefining the interactions and operations within the global financial landscape.