Introducing an AI tool inspired by ChatGPT and a new era in scientific discovery

Good morning tech fam, here are some quick tech updates for you to catch on to!

What's New Today: Citigroup slashes 2,000 more jobs; layoff tally reaches 7,000

Fast-Track Insights: Crypto exchanges, not tokens, to be regulated by Australian Treasury proposal

An international team of researchers has started a new project that will use ChatGPT's technology to construct an AI-powered tool for scientific inquiry. The new project, Polymathic AI, will learn from numerical data and physics simulations from across scientific domains to help scientists simulate everything from supergiant stars to the Earth's climate, unlike ChatGPT, which works with words and sentences. Shirley Ho, group head of the Flatiron Institute's Center for Computational Astrophysics in New York City, US, and principal investigator of Polymathic AI, stated that this "will completely change how people use AI and machine learning in science."

Citigroup decreased its personnel by 2,000 in the third quarter (Q3), bringing its annual severance costs to $650 million. Mark Mason, the business's chief financial officer, said on a conference call with analysts to discuss earnings that the company has shed about 7,000 workers overall this year. He added that the prior $450 million recorded at the end of June was for 5,000 job losses or so. Mason also highlighted that the repositioning costs were the cause of the company's decreased headcount; he stressed that the costs the company has incurred so far this year do not fully reflect the reorganization that Citigroup announced last month.

For more than 25 years, Amazon has focused on artificial intelligence (AI) and machine learning (ML), and ML powers many of the features that customers use with Amazon. Recently, Amazon Web Services (AWS) announced several new developments to make it simple for clients to employ generative AI in their businesses. Generative AI, a groundbreaking technology, empowers machines to create content from data patterns. AWS, a top cloud provider, offers 7 diverse courses enabling technical and non-technical individuals to leverage Generative AI's potential. Discover these top AWS courses catering to various generative AI skill levels. Read More

The Australian federal government is moving quickly to regulate the digital asset industry at the exchange level, and it may not be long before it starts requiring cryptocurrency exchanges to possess licenses for providing financial services from the regional financial authority. The Australian Treasury stated that the new regulatory framework intends to address consumer problems while also fostering innovation in the digital asset industry in the recently released "Regulating digital asset platforms" consultation paper, which was made public on October 16.