April 22nd-28th 2023 Ukraine’s game plan
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After Mr Yi’s speech, Adam Posen of the Peterson Institute pointed out that other central bankers would be very happy to have the Chinese policymaker’s inflation record, especially now. Last year inflation in China was only 2%. But cautious, inhibited policy making is probably not the reason for this exceptional price stabil ity. Thanks to the country’s aggressive containment of the pan demic in 2020, the central bank did not have to cut interest rates as much as the Fed to rescue the economy. And because of China’s bullheaded commitment to zerocovid policies last year, the cen tral bank did not need to raise interest rates to contain inflation, as the Fed belatedly did. China’s attenuated monetary policy suc ceeded only because of a decidedly unattenuated covid policy. n Free exchange Is China better at monetary policy than America? 012 69 The Economist April 22nd 2023 Science & technology The new AI (1) The generation game S ince november 2022, when Open AI , the company which makes Chat GPT , first opened the chatbot to the public, there has been little else that the tech elite has wanted to talk about. As this article was be ing written, the founder of a London tech company messaged your correspondent unprompted to say that this kind of AI is “essentially all I’m thinking about these days”. He says he is in the process of rede signing his company, valued at many bil lions of dollars, around it. He is not alone. Chat GPT embodies more knowledge than any human has ever known. It can converse cogently about mineral extrac tion in Papua New Guinea, or about TSMC , a Taiwanese semiconductor firm that finds itself in the geopolitical crosshairs. GPT 4, the artificial neural network which powers Chat GPT , has aced exams that serve as gate ways for people to enter careers in law and medicine in America. It can generate songs, poems and essays. Other “genera tive AI ” models can churn out digital pho tos, drawings and animations. Running alongside this excitement is deep concern, inside the tech industry and beyond, that generative AI models are be ing developed too quickly. GPT 4 is a type of generative AI called a large language model ( LLM ). Tech giants like Alphabet, Amazon and Nvidia have all trained their own LLM s, and given them names like P a LM , Megatron, Titan and Chinchilla. Yüklə 5,71 Mb. Dostları ilə paylaş:
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