Britain must build sovereign rival to ChatGPT to protect national security, says AI chief

The chief executive of Faculty, Marc Warner, has warned that if Britain doesn't take a leading role in artificial intelligence (AI), it risks leaving the next generation poorer than its parents. He has urged the UK to develop its own AI system for national security and defense, similar to ChatGPT, rather than relying on US tech giants.

Warner believes that having sovereign capabilities in AI is crucial for defense purposes. He emphasized the need for the UK to maintain control over AI technology, particularly in defense contexts. Warner's concerns about AI risks align with the UK government's focus on assessing potential threats and the need for safeguards in AI development.

He also discussed the potential benefits of AI in areas like healthcare and expressed the challenge of competing with the US in terms of access to powerful graphics processors for AI technology.

Finally, Warner argued that China should be included in global AI discussions, as AI issues are relevant to humanity as a whole. This discussion takes place in the context of the upcoming AI Safety Summit hosted by Rishi Sunak, with various prominent figures from the AI industry expected to attend.

Read more: https://uk.finance.yahoo.com/news/britain-must-build-sovereign-rival-120000801.html

When will home prices drop?

Several experts provide their opinions on whether home prices will rise or fall:

Moody's Analytics predicts a 10% decline in home prices "peak-to-trough" over the next few years. They expect this decline to be gradual and attribute it to an assumed weakening of the U.S. economy and a decrease in inflation.

Goldman Sachs anticipates a slight decline in home prices for the remainder of 2023 due to high mortgage rates and low inventory. However, they still project a 3.4% increase in home prices for 2023 and a modest 1.3% growth in 2024.

LPL Financial expects a modest decline in home prices by the end of the year due to slowing demand. This is influenced by the low inventory, as many homeowners with historically low mortgage rates are reluctant to sell their homes.

CoreLogic foresees a temporary dip in home prices over the next few months but expects prices to end 2023 higher than the previous year. The overall increase in home prices in 2023 is projected at 3.7%, with some regional variations.

Realtor.com suggests that home prices will remain strong through the rest of the year, with the market expected to recover for the calendar year. This outlook is based on the strength of the labor market and the expectation of easing home prices.

The National Association of Realtors (NAR) offers a more pessimistic forecast. They expect existing-home sales to decline in 2023, but the median price of a home in the U.S. is predicted to rise by 0.1% to $386,700. In 2024, NAR expects home prices to increase by 0.7% to $389,500.

In summary, experts' opinions on the future of home prices vary, with some forecasting declines, others expecting stability, and a few projecting modest increases. The real estate market's direction is influenced by factors like mortgage rates, inventory, and economic conditions.

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