News&Opinion

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AI driven robots. AI good and bad.
Generative AI pros and cons

The proliferation of Generative AI, including models like ChatGPT, has taken the world by storm. The technology has become a hot topic of conversation in both tech circles and among the general public. There's an undeniable sense of excitement about its new capabilities. This excitement is evident in the number of predominantly positive articles and books about AI that have taken over websites and flooded bookstores. Amid this techno-optimistic wave, companies are scrambling to incorporate new AI into their products, often keen on riding the hype train to keep up with competitors and to meet growing consumer expectations. However, it is crucial to temper our enthusiasm with caution. While it is easy to get swept up in the tide of AI's transformative potential, we must also address its possible downside. Like any powerful force, AI too has a "dark side" - a potential for misuse and unintended consequences that could be as large, if not larger than the benefits it brings. As we push the boundaries of Artificial Intelligence, it is essential to encourage open discussion about the potential negative consequences. This will foster a better understanding of the implications of AI, inform policy and regulation, and guide us toward a future where AI is used responsibly and ethically.

Inflation and high interest rates
Modern inflation factors. Supply-side inflation.

So, what should have been done to fight current inflation? Every effort must be made to support production, producing industries. One thing that has to be done is the provision of affordable credit and capital sources. To that end, central banks need to keep a reasonably easy monetary policy. If credit is made more expensive, on top of all the other pressures on the producing sector of the economy, the supply is likely to shrink even more, the money-goods and services disbalance is likely to grow even further, and prices will grow accordingly. Hence, higher interest rates will cause even higher inflation.