ChatGPT mania may be cooling, but a serious new industry is taking shape | The mystery of the Adani coal imports that quietly doubled in value | Financial Times | Social Security Benefits Will Rise 3.2% In 2024, While Top Tax Jumps 5.2% | Hotter Temperatures From Climate Change Could Increase Drug And Alcohol Hospitalizations, Researchers Suggest

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ChatGPT mania may be cooling, but a serious new industry is taking shape - The Economist

The first wave of excitement about generative artificial intelligence (ai) was like nothing else the world had seen. Within two months of its launch in November 2022, ChatGPT had racked up 100m users. Internet searches for “artificial intelligence” surged; more than $40bn in venture capital flowed into ai firms in the first half of this year alone.

The craze for consumer experimentation has since cooled a little: ChatGPT use has fallen and fewer people are Googling “ai”. Son Masayoshi, a Japanese investor notorious for diving into already frothy markets, is thought to be interested in investing in Openai, Chatgpt’s creator. But a second, more serious phase is beginning. An entirely new industry centred on supercharged ai models is taking shape. Three forces will determine what it eventually looks like—and whether OpenAI stays dominant, or other players prevail.

The first factor is computing power, the cost of which is forcing model-builders to become more efficient. Faced with the eye-watering costs of training and running more powerful models, for instance, Openai is not yet training its next big model, gpt-5, but gpt-4.5 instead, a more efficient version of its current leading product. That could give deep-pocketed rivals such as Google a chance to catch up. Gemini, the tech giant’s soon-to-be-released cutting-edge model, is thought to be more powerful than OpenAI’s current version.

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The mystery of the Adani coal imports that quietly doubled in value | Financial Times - FT

The Adani Group, the politically connected conglomerate that dominates large parts of India’s economy, appears to have imported billions of dollars of coal at prices well above market value, according to customs records reviewed by the Financial Times.

The data supports longstanding allegations that Adani, the country’s largest private coal importer, has been inflating fuel costs and led to millions of Indian consumers and businesses overpaying for electricity.

The records show that over the past two years, Adani used offshore intermediaries in Taiwan, Dubai and Singapore to import $5bn-worth of coal at prices that were at times more than double the market price.

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Social Security Benefits Will Rise 3.2% In 2024, While Top Tax Jumps 5.2% - Forbes

Under a Congressionally set formula, Social Security beneficiaries will get a 3.2% benefits increase in 2024.

Social Security benefits will increase 3.2% in 2024 for the nation’s 71 million recipients, raising the average monthly check for a single retired worker to $1,907, up $59 from $1,827 this year, and for a retired couple both receiving benefits to $3,033, up $94 from $2,939 this year, the Social Security Administration said today. That’s a small boost compared to the 8.7% cost-of-living adjustment (COLA) for 2023 (the largest since 1981, as shown in the chart below) and reflects the damper that’s been put on inflation.

By law, the 2024 COLA is based on the increase in the Consumer Price Index for Urban Wage Earners (CPI-W) between the third quarter of 2022 and the third quarter of 2023—meaning it looks backwards at inflation and was set this morning when the Bureau of Labor Statistics reported September’s inflation rate. Current beneficiaries should get notices in the mail in early December with their new individual 2024 benefits amounts, but can get that information sooner by setting up an individual online account and signing up for a text or email alert. Automatic Social Security COLAs have been in place since 1975, when Congress decided to take itself—and the political pressures of the day—out of an annual adjustment affecting so many voters.

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Hotter Temperatures From Climate Change Could Increase Drug And Alcohol Hospitalizations, Researchers Suggest - Forbes

A new study from Columbia University researchers found that during higher temperatures, hospitals see a larger number of drug- and alcohol-related admissions—leading to worries that as climate change warms the planet, it could also exacerbate the consequences of substance abuse and alcoholism.

Two members of the Emergency Medical Team of the Fire Department of New York prepare their gurney ... [+] before going on another ambulance call at the Elmhurst Hospital Center in the Queens borough of New York City on March 30, 2020. (Photo by Robert Nickelsberg/Getty Images)

The study, which was published in the journal Communications Medicine, examined data from 671,625 alcohol- and 721,469 substance-related disorder hospital visits across New York State over 20 years as well as daily temperatures and relative humidity over that time period.

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