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Daily Archives: May 22, 2023

Federal Reserve Board issues Economic Well-Being of U.S. Households in 2022 report

“The Federal Reserve Board on Monday [May 22, 2023] issued its Economic Well-Being of U.S. Households in 2022 report, which examines the financial lives of U.S. adults and their families. Overall, the report shows that higher prices have negatively affected most households and overall financial well-being declined over the prior year, though workers continued to benefit from a strong labor market. The report draws from the Board’s tenth annual Survey of Household Economics and Decisionmaking, or SHED, which was conducted in October of last year. The report discusses findings related to financial well-being, income, expenses, employment, banking and credit, housing, retirement and investments, and higher education and student loans. The report, fact sheet, downloadable data, data visualizations, and a video summarizing the survey’s findings are found here. The report indicates that self-reported financial well-being declined in 2022, in part reflecting ongoing concerns about higher prices. In the fourth quarter of 2022, 73 percent of adults reported either doing okay or living comfortably financially, down 5 percentage points from the previous year and among the lowest levels observed since 2016. Consistent with these changes in overall financial well-being, fewer adults reported having money left over after paying their expenses. Fifty-four percent of adults said that their budgets had been affected “a lot” by price increases. Parents living with children under age 18, Black adults, Hispanic adults, and those with a disability were more likely to say that their budgets had been affected “a lot” by higher prices…”

IOSCO Sets the Standard for Global Crypto Regulation

“IOSCO, the global standard setter for securities markets, has today issued for consultation detailed recommendations to jurisdictions across the globe as to how to regulate crypto-assets. In a major initiative designed to improve global standards of regulation of crypto-assets, IOSCO has set out how clients should be protected and how crypto trading should meet the… Continue Reading

Type in your job to see how much AI will affect it

Washington Post (free link): “Is AI coming for your job? If so, when? Unfortunately, there are no clear-cut answers to these questions. Technology develops in unpredictable ways. But a paper published last month by three scholars — Princeton’s Edward W. Felten, Manav Raj of the University of Pennsylvania and Robert Seamans of New York University… Continue Reading

How to avoid falling for misinformation, fake AI images on social media

Washington Post: “Anyone with an internet connection can watch breaking news unfold in real time, or at least some version of it. Across social media, posts can fly up faster than most fact-checkers and moderators can handle, and they’re often an unpredictable mix of true, fake, out of context and straight propaganda. The rapid spread… Continue Reading

DragGAN: A New Method for Manipulating Generated Images “The technique enables one to “drag” any points of the image to precisely reach target points in a user-interactive manner. A group of researchers recently published a paper presenting DragGAN, an innovative technique for manipulating generated images. This method allows users to interactively drag points on the images to achieve precise positioning at target… Continue Reading

Artificial Intelligence: Key Practices to Help Ensure Accountability in Federal Use

GAO-23-106811, Artificial Intelligence: Key Practices to Help Ensure Accountability in Federal Use. “Artificial intelligence (AI) is evolving at a rapid pace and the federal government cannot afford to be reactive to its complexities, risks, and societal consequences. Federal guidance has focused on ensuring AI is responsible, equitable, traceable, reliable, and governable. Third-party assessments and audits… Continue Reading