FT writes about Google’s MUM: “According to the search giant, the new technology — a large-scale AI model known as MUM — could one day turn internet search into a far more sophisticated service, acting like a virtual research assistant as it sifts the web for solutions to complex questions…MUM — short for multitask unified model — is the latest in a series of behind-the-scenes upgrades to the Google search engine which the company claims have brought step-changes in the quality of its results…MUM is the latest example of an idea that has been sweeping the field of natural language AI. It uses a technique called a transformer, which enables a machine to look at words in context rather than as isolated objects to be matched through massive statistical analysis — a breakthrough that has brought a leap in machine “understanding”.”
FT on India: “There are positive factors for investors who are looking for reasons to be optimistic for longer than the short term. The most noteworthy is the flowering of entrepreneurial talent. Thanks to greater connectivity between hinterland and city, ambitious young Indians can more easily gravitate to where their possibilities are greater…For many years, most Indians did not dare to dream. But today there are more opportunities for them — whatever their caste or background — than ever before; it is not only the entitled who can realise entrepreneurial dreams. It may not be enough. But it is something.”
Capitalism in Three Principles: by Michael Munger. “Division of labor, Impersonal exchange based on prices, Growth based on economies of scale.”
