Sunday, August 20, 2023
4 in 10 Americans Think AI Could Help Them Manage Their Money, 20 AUGUST
Investing in artificial intelligence is becoming popular, but what about artificial intelligence investing in you? According to new poll results shared exclusively with Money, Americans are becoming increasingly willing to let AI manage their personal finances as the technology goes mainstream.
Personal finance company Credit Karma conducted an online survey in early July, asking roughly 1,000 U.S. adults for their thoughts on using AI for managing their money.
What the data says
The Credit Karma data shows that Americans are warming up to mixing AI and money. Of the investors who responded to the survey, 4 in 10 say they think AI can be a useful tool for managing their finances.
For investors who have already used AI, this openness trends higher. Of the roughly one-quarter of respondents who have used AI before, 57% say they are willing to use the technology for financial purposes if it eliminates their money problems. In fact, one-third of this experienced bunch say that they would trust AI more than a human to manage their finances.
Of course, the level of money management people are willing to cede to AI is different from person to person. At least one-quarter of respondents say they would use it to help pay down debts, manage expenses and budgeting, or plan for retirement.
The most popular potential applications for the technology, though, seem to be more hands-off: Some 4 in 10 say they’d use AI simply to answer financial questions, while 3 in 10 want to use the technology to better understand their range of accounts and investments.
What it means
It might be surprising to see so much optimism toward AI, especially in letting it make financial decisions for investors. Not only is it a new concept to most people, but it’s also been scrutinized for being incorrect and impersonal. This runs contrary to a longstanding emphasis on finding financial advisors who can tailor their expert guidance to each individual.
After all, other polls have shown a sizable distrust toward AI in making a number of other important decisions; a majority of people think humans are better than AI in anything from writing laws or doing jobs to simply picking out a decent work outfit.
A survey by insurance company Nationwide shows this skepticism doesn’t fall short of the finance world: Some 35% of Americans say they don’t see AI providing financial insight more valuable than a human expert’s at all in the next five years.
Bottom line
Supriya Gupta, vice president of product at Credit Karma, theorizes that this welcoming attitude is simply people getting more familiar with the tech behind AI.
“Things that have the potential to change our everyday lives can feel scary,” Gupta tells Money. “But, like we’ve seen with previous technological shifts, technology can make our lives easier.”
Gupta goes on to say that generative AI technology has, to its own benefit, become increasingly accessible to investors. For years, AI seemed like nothing more than a buzzword or a technology used exclusively in lab settings. With the advent of tools like ChatGPT and Bard, however, people are growing accustomed to it in a way they hadn’t before, perhaps increasing the trust reflected in the poll.
“When you apply this technology to more complex aspects of life — like finances — something nearly everyone struggles with, the promise of generative AI becomes even more meaningful for consumers,” she says.
As for the still-skeptical investors out there, it looks as though more trust-building is still required. Some of those who are less willing to use AI say they are looking for institutions they already trust (banks and personal finance apps, for example) to build their own AI products.
Others say regulations would put them more at ease. Almost 4 in 10 say tighter rules and security are crucial to earning their trust. While there haven’t been new federal regulations since the surge in popularity of AI bots, the White House has issued an “AI Bill of Rights” intended to protect consumers from misuse of the technology.
https://www.nasdaq.com/articles/4-in-10-americans-think-ai-could-help-them-manage-their-money
Undersecretary of Ministry of Oil Emphasizes Accelerated Transition to Full Capacity at Karbala Oil Refinery, 20 AUGUST
Undersecretary of Ministry of Oil Emphasizes Accelerated Transition to Full Capacity at Karbala Oil Refinery
Shafaq News/ Hamid Younes, the Undersecretary of the Iraqi Ministry of Oil for Refining Affairs, reaffirmed the ministry's dedication to expediting the phased transition towards total operational capacity at the Karbala oil refinery, with an envisaged output of 140,000 barrels per day.
The move followed the successful completion of contractual obligations by a consortium of Korean companies responsible for overseeing the refinery's engineering, technical, and operational requirements.
During a visit to the Karbala Oil Refinery, Younes conducted an extensive inspection of the ongoing operations. He articulated that his visit encompassed a strategic meeting involving key refinery officials, stakeholders, and representatives from the international consulting office.
The agenda of the discussion revolved around deliberations on the sequential integration of production units, ultimately culminating in the commencement of operational activities at full design capacities.
Younes highlighted that his visit also entailed a comprehensive field tour, encompassing the entirety of the refinery's infrastructure, including control centers and production units.
The Karbala Oil Refinery project marks a significant stride in Iraq's petroleum sector, with the meticulous collaboration between the Ministry of Oil and the consortium of Korean companies. As global oil demand maintains its upward trajectory, the successful operation of this refinery is poised to bolster Iraq's production capacity and further cement its position as a critical player in the global energy landscape.
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Iraqi oil exports to the U.S. outpace Saudi Arabia as North American intake climbs
Shafaq News/ Iraq's crude oil exports to the U.S. has trumped those from Saudi Arabia last week, despite a marginal decline in the rate of supply, data by the Energy Information Administration (EIA) showed on Sunday.
Drawing on a recent data chart, the EIA illustrated that the average daily crude oil imports by the U.S. from its top nine suppliers stood at 5.953 million barrels last week. This marked a surge of 143 million barrels per day over the preceding week, which registered a daily intake of 5.810 million barrels.
Despite the overarching uptick in imports, Iraq's crude oil exports to the U.S. saw a marginal decline. The EIA's data indicated that exports settled at an average of 304,000 barrels per day last week, a mere dip of 1,000 barrels from the 305,000 barrels per day the week before.
Canada remains the predominant oil exporter to the U.S., with a staggering 3.505 million barrels per day. Mexico followee with an average daily export of 901,000 barrels, Ecuador at 363,000 barrels, and Nigeria, closely tailing Iraq, with 307,000 barrels per day.
Saudi Arabia's average daily exports to the U.S. were pegged at 285,000 barrels, trailed by Brazil at 130,000 barrels, Libya at 85,000 barrels, and Colombia at 75,000 barrels.
COFFEE WITH MARKZ (SPANISH AND ENGLISH), 20 AUGUST
Sábado 19 Agosto 2023
DINARLAND UPDATE, 20 AUGUST
MilitiaMan (KTFA)
Article:
“Iraq is looking to accelerate its accession to the World Trade Organization”
It’s pretty exciting because they have come a long way…getting to the final end stage of being a full member has been ongoing for…about 3 years and they’re in advanced stages… they’re going to need to be Article VIII compliant with that. That’s one of the major things we’re hoping to see in the near future.
Iraq recently became a trading partner with India and seeking inclusion in the Unified Payment System that will allow them to go across borders sometimes by land sometimes by sea seeking more demand for their currency which gives it more value.
[via WiserNow]
I know that we have a really good situation with the rates…They have a fixed rate that they plan to offer us on our dinar It’s very good very high…There’s also…the planned rate to offer us …for any dong…
