TECHNOLOGIES

Three of my favorite industries are Cars, Fashion, and Technology. All three are known for being rapidly growing and fast paced fields, however Technology is always forging new ways to advance our everyday lives. From healthcare, finance, and information to social media, smart homes, and production, technology has enhanced and simplified our everyday lives.

Artificial Intelligence

Within the past few years, there have been new waves of emerging verticals that have been used to showcase the future AI. Examples such as DALL-E-2 and CLIP (from OpenAI) are used creatively to combine language and images so that AI’s can better understand references for both text and image.

OpenAI’s recent contributions to the space include:

• GPT-3: Generative Pre-trained Transformer 3 is used, through machine learning, to produce human-like intelligence to translate text, answer questions, and predictively write texts.

• CLIP: Contrastive Language-Image Pre-training is a neural network trained on a variety of images and texts. When provided an image, CLIP will predict the most relevant description of that image without optimizing for the task.

• DALL-E-2: A machine learning model that generates a completely newdigital images from natural language descriptions (prompts). DALL-E-2 can also expand and modify existing images while maintaining the most important features.

Examples of DALL-E-2

Blockchain & Crypto

What is Blockchain: A shared, immutable ledger that facilitates the process of transactions through recording and tracking assets in a network. Blockchain is ideal for the delivery of information because it’s immediate and transparent. A network on the blockchain can track items, payments, accounts, productions, and many more. This technology can be widely used for a range of improvements. One example being Healthcare. A database on the blockchain would streamline patient information, patient, history, and notes that are stored on an ledger without being hacked or altered. With a single view and it being readily available, all users can navigate through with greater confidence as well as new efficiencies and opportunities to cut costs and unnecessary parties.

What Runs the Blockchain:

• Distributed ledger technology

• Immutable Records

• Smart Contracts

How Blockchain Works:

• As each transaction occurs, it is recorded as “block” of data

• Each block is connected to previous and post blocks

• Transactions are blocked together in an irreversible chain, through a variety of nodes scattered across the world

What is Cryptocurrency: a digital currency (purchased in fiat dollars) and is an alternative form of payment created using encryption algorithms. The use of encryption technologies means that cryptocurrencies function both as a currency and as a virtual accounting system. To use cryptocurrencies, you need a cryptocurrency wallet. These wallets can be software that is a cloud-based service or is stored on your computer or on your mobile device. The wallets are the tool through which you store your encryption keys that confirm your identity and link to your cryptocurrency.

NFT’s

Non Fungible Tokens: Made with the same programming used for cyrptocurrencies, NFT’s are cryptographic assets that are based on blockchain technoloogy. With many forms of unique tokenization such as art, collectibles, property, and tickets, ownership of an asset is secured by the blockchain.

An example, an artist who decides to turn away from a conventional studio would release a project where there is a unique identifier of the artist with a smart-contract based in the NFT. Buyers purchase the artists’ NFT, which gives access to special projects, preview of songs, access to their community, and any other utilities the artists provide. Every purchase of these NFTs and transfer of ownership through a sale, provides direct royalty to the artist. There are no studios, no middlemen, no third parties. NFT’s allow the artist to be direct to consumer for purchase or collection.

Another example is an author who writes a textbook aimed at being used in a college course. The conventional direction would be to sign with a publishing company that has the monopoly of college textbooks taught in schools. With students paying for these textbooks for one course and having the option of keeping, discarding, or selling directly to another student. With NFT’s the author has the option to skip the traditional publishing company and sell directly to students who are required to have the textbook. Owning the NFT would allow access to an online version of the textbook during the course. Once the course is completed, students can easily list and sell the textbook NFT to any student across the world who requires the same material with the author being deposited the royalties directly.