Money

ChatGPT may be new but artificial intelligence has a long history

Published

3 years ago

May 1, 2023

Scientists and philosophers have been working on a ‘second brain’ for decades

From the heartless Tin Man in the Wizard of Oz, to the humanoid robot in Metropolis; science fiction has brought artificially intelligent robots to life.

In the 1950s, some of the world’s brightest minds were already using artificial intelligence as part of their vocabulary.

John McCarthy was among the first computer scientists to coin the term: artificial intelligence.

McCarthy and two dozen other men came together at a Dartmouth workshop in New Hampshire for a conference on artificial intelligence.

“I started my work on artificial intelligence in ’56, although I became interested in it before that, in ’49,” he said.

Computers began to store more information and boast a speed like never before. Dr Stefan Popenici from Charles Darwin University is a leading voice on artificial intelligence.

He said the technology is hardly new. “It’s not new. Artificial intelligence came as a formula in 1956,” he said.

Dr Popenici has published a book on the implications of the adoption of artificial intelligence in higher education.

He said open source artificial intelligence like ChatGPT have become a concern for researchers in the education sector.

“This is just one of the many serious challenges associated with the exponential advancements of AI in the last years, and universities have to find now the energy and will to articulate efficient and sustainable solutions for education and society,” he said.

In the 1980s, artificial intelligence was expanding its algorithmic toolkit and receiving more funding.

By 1997, reigning world chess champion and grand master Gary Kasparov was defeated by IBM’s Deep Blue.

In the same year, speech recognition software was implemented on Microsoft Windows computers.

“AI is not only the subject of a new hype but also stirs profound cultural, educational, and economic changes with significant medium and long-term impacts.

“We know that all technological revolutions come with winners and losers, and institutions of education must now make a set of choices that will decide where they will stand in the near future,” Dr Popenici said.

Money

U.S. jobs report, Fed decisions, and Japan’s economic risks explained

January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.

Published

14 hours ago

February 12, 2026

Harvey Vargas

January US jobs report sparks uncertainty; analysts debate impact on Federal Reserve policy and market confidence.

The January US jobs report shows a mixed picture for the economy, with payroll revisions and steady unemployment leaving analysts questioning the impact on Federal Reserve policy. We break down what the numbers mean for interest rates and market confidence.

US stock markets could face turbulence as investors digest the latest jobs data. David Scutt from StoneX explains how these figures may influence equities and what the outlook is for global markets.

Meanwhile, developments in Japan and a strengthening yen could spark new macroeconomic risks. From carry trades to unexpected shocks, we explore how these factors ripple across the global economy.

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#USJobsReport #FederalReserve #StockMarket #MacroRisks #JapanEconomy #GlobalMarkets #CurrencyTrading #EconomicUpdate

Money

Alphabet launches $20B bond to fund AI expansion

Alphabet’s $20B bond offering highlights investor confidence in AI growth, enabling funding without shareholder dilution.

Published

2 days ago

February 11, 2026

Harvey Vargas

Alphabet’s $20B bond offering highlights investor confidence in AI growth, enabling funding without shareholder dilution.

Alphabet has launched a record $20 billion bond offering to finance its massive AI infrastructure build-out, signalling strong investor confidence in the company’s growth strategy. The oversubscribed sale shows that investors are betting on Alphabet’s AI potential and long-term returns.

By using debt instead of equity, Alphabet can raise funds without diluting shareholders. The money will support AI research, advanced computing, and other strategic projects, cementing the company’s leadership in the sector.

Brad Gastwirth from Circular Technologies explains how corporate debt is reshaping tech financing and how investors perceive AI-linked bonds. This record issuance could set a trend for other tech companies looking to fund innovation.

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Money

AI tax tool sparks market turmoil for financial firms

Major financial firms’ stocks fell sharply after an AI tax tool launch, raising investor fears of disruption in advisory services.

Published

2 days ago

February 11, 2026

Harvey Vargas

Major financial firms’ stocks fell sharply after an AI tax tool launch, raising investor fears of disruption in advisory services.

Shares of major financial services firms tumbled after the launch of a new AI-powered tax planning tool. LPL Financial dropped nearly 11%, while Charles Schwab and Raymond James Financial fell more than 9%, signalling investor concern over AI disrupting traditional advisory services.

Morgan Stanley also saw a 4% decline as fears grow that AI could replace some of the most profitable offerings of established firms. Earlier this year, the introduction of other AI models already caused turbulence in software stocks, suggesting this could be a broader trend affecting multiple sectors.

The iShares U.S. Broker-Dealers and Securities ETF was down 4% on Tuesday, reflecting the market-wide uncertainty surrounding AI adoption in finance. Investors are closely watching whether AI will complement or cannibalise the industry’s core services.

#AIImpact #WallStreet #FinancialMarkets #InvestingNews #MorganStanley #CharlesSchwab #RaymondJames #FinTech