AI News, Canada needs laws to tackle life artificial intelligence

Bitfinex Argues Why Judge Should Dismiss NYAG Case in Latest Court Filings

UPDATE (May 23, 16:30 UTC): Judge Joel Cohen has granted a partial stay on the New York Attorney General’s request for documents from Bitfinex and Tether, pending a July 29 hearing on the companies’

The NYAG has until July 8 to file a response to the motion, and until the hearing, Bitfinex and Tether are required only to produce documents deemed relevant by a third-party to the question of whether they fall under state jurisdiction.

In a separate affidavit, Stuart Hoegner, general counsel for both Bitfinex and Tether, wrote that both companies prohibit any U.S. residents, including New Yorkers, from transacting on their platforms, and that only verified Tether customers are allowed to redeem USDT for dollars, not just anyone who buys the stablecoin on the secondary market.

At some point before the NYAG obtained its preliminary injunction against the companies, “Tether actually did invest in instruments beyond cash and cash equivalents, including bitcoin, they bought bitcoin,”

Alistair Milne, an investor in Bitfinex’s recent token sale, wrote on Twitter Tuesday afternoon that Tether holds less than 1 bitcoin simply to fund transactions on the Omni protocol, which runs on top of the original cryptocurrency’s blockchain.

The crypto exchange needed the funds to continue processing customer withdrawals after losing access to some $850 million that is said to be held by Crypto Capital, a payment processor that is also in the cross-hairs of investigators.

Bitcoin Approaches $8,000 as Bitcoin SV Doubles in Value

most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as bitcoin (BTC) approaches the $8,000 mark again.

Source:CoinMarketCap Bitcoin’s proximity to $8,000 comes as the United States Securities and Exchange Commission reported yesterday that they are 'still in information-gathering mode' regarding a bitcoin exchange-traded fund (ETF) from VanEck.

Source:CoinMarketCap At press time, the total market capitalization of all cryptocurrencies is $248.5 billion, over three percent higher than the value it reported a week ago.

Source:CoinMarketCap Major oil futures and indexes are seeing mixed movements today, with WTI Crude down 0.13%, Brent Crude up 0.08% and Mars US up 0.13% at press time.

Canada lacks laws to tackle major problems posed by artificial intelligence, experts warn

The role of artificial intelligence in Netflix’s movie suggestions and Alexa’s voice commands is commonly understood, but less known is the shadowy role AI now plays in law enforcement, immigration assessment, military programs and other areas.

The federal immigration and refugee system relies on algorithmically driven decisions to help determine factors such as whether a marriage is genuine or someone should be designated as a “risk,” according to a Citizen Lab study, which found the practice threatens to violate human rights law.

She pointed to “horror cases,” including a predictive policing strategy in Chicago where the majority of people on a list of potential perpetrators were black men who had no arrests or shooting incidents to their name, “the same demographic that was targeted by over-policing and discriminatory police practices.” Ms.

A recent AI Now Institute report states federal governments should “oversee, audit, and monitor” the use of AI in fields like criminal justice, health care and education, as “internal governance structures at most technology companies are failing to ensure accountability for AI systems.” Oversight should be divided among agencies or groups of experts instead of foisting it all onto a single AI regulatory body, given the unique challenges and regulations specific to each industry, the report says.

In health care, AI is poised to upend the way doctors practise medicine as machine-learning systems can now analyze vast sets of anonymized patient data and images to identify health problems ranging from osteoporosis to lesions and signs of blindness.

“We’ll be coming forward with those principles to establish our ability to move forward with regards to programming, with regards to legislative changes — and it’s not only going to be simply my department, it’s a whole government approach.” The Treasury Board of Canada has already laid out a 119-word set of principles on responsible AI use that stress transparency and proper training.

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