In October, Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE, said artificial intelligence is the next major revolution of our time, and selected a state minister to focus on this space.
The newly appointed Minister of State for artificial intelligence Omar Sultan AlOlama, says his top priority is to discuss how governments should address A.I., and put regulations in place.
Elon Musk tweeted recently that "competition for A.I. superiority at a national level most likely cause of WW3." Musk has been no stranger about his fears of A.I. AlOlama says his concerns are valid.
He compared Mark Zuckerberg's embrace of A.I. to Elon Musk's unease of the technology, and says that the difference between both opinions is one has a short-term effect, and the other is focused on the long run. AlOlama says Musk's views come into play in the future. But governments need to have these types of discussions today, says AlOlama.
The UAE is also working on a project in partnership with Oxford University and UNESCO to restore artifacts through technology. Recently, ISIS has destroyed historic artifacts. Through this partnership, they 3D printed the Arc of Palmyra to bring it back to life.
Apple is on the verge of becoming the world's first-ever $3 trillion company as shares of the iPhone maker are inching closer to $182.86. Joel Hawthorne, head trader and CEO of The Morning Snapshot, joined Cheddar to discuss Apple's success and how the tech giant will continue to innovate. "One thing that we have to keep in mind is this stock somewhat moves like its own ETF," he said, describing the company as almost a "safe bet" for long-term investors.
Gabe Pincus, president of the investment advisor GA Pincus Funds, joined Wake Up With Cheddar to break down what's happening with meme stocks, as retail trader favorites AMC, GameStop, and Bed Bath & Beyond all moved sharply lower on Monday. He noted that even with the drop there is still room for the meme stocks to tumble even more. "They're still up 500 percent, 800 percent, 900 percent from their all-time lows, so there's plenty more room for them to go down," said Pincus.
While people have been spending more time on their phones throughout the pandemic, a new report shows they were also spending more money as well. A review from Sensor Tower on the global app ecosystem this year found that the app economy will see record consumer spending in 2021, up nearly 20% from 2020. Sensor Tower director of sales and financial institutions Anthony Bartolacci joins Cheddar News' Closing Bell to break down the report.
The future of gambling in Florida recently suffered a major setback after a federal appeals court rejected a request from the state and the Seminole Tribe to allow online sports betting in the state. Now, the tribe has been forced to stop taking bets on its Hard Rock sportsbook app. ESPN gaming writer David Purdum joins Cheddar News' Closing Bell to discuss what this could mean for the future of sports betting in Florida.
