😨 Elon Musk: AI could cause ‘civilization destruction’
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😨 Elon Musk: AI could cause ‘civilization destruction’
Called for a “regulatory structure” for AI
Hey Waivly Crew! 🌊 Deutsche Bank is set to offer customers crypto custody options through a partnership with Taurus. Elon Musk warned in a recent interview that AI could lead to “civilization destruction.”
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Deutsche Bank taps Taurus for crypto custody services
Deutsche Bank has partnered with Swiss crypto firm Taurus to provide digital asset custody and tokenization services to its institutional clients.
Germany's largest bank — which manages over €1.3 trillion ($1.4 trillion) in assets — will integrate Taurus' custody and tokenization technology to manage cryptocurrencies, tokenized assets, and digital currencies, according to a Thursday statement.
"As the digital asset space is expected to encompass trillions of dollars of assets, it's bound to be seen as one of the priorities for investors and corporations alike," said Deutsche Bank's global head of securities services, Paul Maley. "Our focus is not just on cryptocurrencies, but supporting our clients in the overall digital assets ecosystem."
Founded in 2018, Taurus provides enterprise-grade infrastructure for over 25 institutional clients to issue, custody, and trade digital assets, such as cryptocurrencies, tokenized assets, and NFTs.
“We are pleased to implement this global partnership with Deutsche Bank and look forward to supporting the bank in launching digital assets and DLT-based products and services across several booking centers,” said Taurus co-founder Lamine Brahimi.
The partnership isn't the bank's first foray with Taurus. In February, Deutsche Bank participated in Taurus' $65 million Series B funding round, which also included Arab Bank Switzerland and Pictet Group.
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AI Special
Elon Musk warns senators that AI could cause ‘civilization destruction’
Tesla CEO Elon Musk warned senators at a private meeting on Wednesday that unregulated artificial intelligence poses a “civilizational risk” to society, according to a senator in the room.
Musk made his remarks at a first-of-its-kind closed-door summit on AI attended by some of the tech industry’s biggest names, including Meta’s Mark Zuckerberg, former Microsoft chief Bill Gates, Alphabet’s Sundar Pichai, and OpenAI founder Sam Altman.
As he left Capitol Hill after several hours, Musk called the gathering “historic.” He also endorsed the idea of a new federal agency to oversee AI and reiterated that the technology poses a tremendous danger.
“The consequences of AI going wrong are severe so we have to be proactive rather than reactive,” the tech billionaire told a group of reporters. “The question is really one of civilizational risk. It’s not like one group of humans versus another. It’s like, hey, this is something that’s potentially risky for all humans everywhere.”
The comments come after Musk launched his own AI company in July to build safe AI systems and help humans 'understand the true nature of the universe.'
Google nears release of AI software Gemini
Google has given a small group of companies access to an early version of Gemini, its conversational AI software, The Information reported on Thursday, citing three people familiar with the matter.
Gemini is a set of large-language models that power everything from chatbots to features that summarize text or generate original text based on what users want to read, like email drafts, music lyrics, or news stories, according to the report.
It is also expected to help software engineers write code and generate original images based on what users ask to see.
Google is currently giving developers access to a relatively large version of Gemini, but not the largest version it is developing, which would be more on par with OpenAI's GPT-4, the report added.
The search giant plans to make Gemini available to companies through its Google Cloud Vertex AI service.
Last month, Google introduced generative AI to its Search tool for users in India and Japan that will show text or visual results to prompts. It also made its AI-powered tools available to enterprise customers at a monthly price of $30 per user.
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