Breaking AI & Tech News Analyzed

Palantir, a Miami-based company backed by billionaire Peter Thiel, has secured a three-month trial contract with the Financial Conduct Authority (FCA) to analyze a vast amount of sensitive UK financial regulation data. The deal, worth over £30,000 per week, aims to help the FCA tackle financial crimes such as fraud, money laundering, and insider trading.The FCA has awarded Palantir the contract to investigate its internal intelligence data, which includes highly sensitive case intelligence files, information on problem firms, and reports from lenders about proven and suspected frauds. Palantir will apply its AI system, known as Foundry, to huge quantities of information held by the watchdog, including recordings of phone calls, emails, and social media posts.The contract has raised concerns about privacy and the company's ethical reliability. One source expressed concerns that Palantir may share the information it learns from the FCA with other parties. Palantir's technology is used by the Israeli military and in the US president's ICE immigration crackdown, leading to criticism from left-wing MPs.The FCA has stated that it has strict controls in place to ensure data is protected and that Palantir will only act on instruction from the regulator. The data will be hosted and stored solely in the UK, and Palantir will have to destroy the data after completion of the contract.Experts have highlighted the potential benefits of using AI to tackle financial crimes, but also emphasized the need for robust protocols to protect sensitive information. Prof Michael Levi, an expert in money laundering, noted that AI is a potentially valuable technology to tackle financial crimes, but also raised concerns about the ownership and control of the data.

The UK government has unveiled plans for seven new towns in England, a move hailed as the most ambitious housebuilding project in the country for over 50 years. These new towns will feature between 15,000 to 40,000 homes each and are designed to be built with coordinated infrastructure, including schools, healthcare facilities, public transport links, and walking and cycling paths. The locations of the new towns include under-developed inner-city land, a historic village, and an existing new town. Notably, up to 40,000 homes are planned around the Bedfordshire village of Tempsford, near the A1, on a former RAF base. This new town will also feature a major station interchange, linking the east coast mainline with a new east-west link between Cambridge and Oxford. Five of the projects are situated within or on the edges of major cities, including two in London. These include: Crews Hill and Chase Park in Enfield, on the northern edge of London, with up to 21,000 homes. Thamesmead in south-east London, with 15,000 homes, supported by an extension of the Docklands Light Railway. Victoria North in Manchester, with about 15,000 homes. Leeds South Bank, with a planned 20,000 homes. Brabazon and the West Innovation Arc in the north of Bristol, with 40,000 homes. The final project involves 40,000 new homes in Milton Keynes, a city created from Buckinghamshire farmland and villages as one of the second-generation post-war new towns. Housing Secretary Steve Reed emphasized that the plan marks a significant shift in how the UK builds for the future, with communities designed from the ground up to include homes, jobs, transport links, and green spaces.

Have you ever felt like you're racing against the clock, constantly chasing appointments and deadlines? This relentless pursuit of time is a universal experience, but what is time, really? Is it a physical phenomenon or just a tool we use to coordinate our lives? Time is often seen as an independent, physical entity that ticks by relentlessly, but emerging scientific evidence suggests that this isn't the case. Time is more like a mathematical tool, useful for coordinating our interactions, but it doesn't have an independent existence of its own. Just like money, we've become dependent on it, but it's not a physical reality. The pressure to be 'on time' is instilled in us from a young age, and we're constantly surrounded by clocks and digital alerts that divide our day into smaller pieces. This has led to a phenomenon known as 'time famine,' where the more efficient and productive we try to be, the less time we feel we have. Studies have shown that people experiencing time famine are less likely to engage in activities they enjoy, eat healthily, or seek medical attention when needed. Our brains don't have dedicated areas for tracking time, and our experience of it can vary greatly. Time can seem to drag or fly by, depending on our circumstances. For example, people with certain conditions, like akinetopsia, experience time in sudden jumps or frozen moments. The psychedelic drug mescaline can also distort time perception, making it seem like hours or even centuries have passed. Quantum physicists have found that time is not a fixed, physical flow. The famous double-slit experiment shows that a physicist's choice of measurement can influence the behavior of a particle. In a lesser-known variant of this experiment, the physicist's choice at the point of measurement can even influence the particle's past behavior. This suggests that time is not a fixed, linear concept, but rather a flexible and subjective experience. Some indigenous cultures, like the Aymara people of Chile, experience time differently. They see the future as hidden behind them, unseeable and unknowable. The Amondawa people of the Amazon have no clocks or concept of time. Instead, they live in the present, experiencing 'lived time,' which is a personal, malleable experience of change. Lived time is different from clock time, as it's not defined by numerical counters or seconds. Each moment is like a tapestry, woven from changes on multiple timescales. When we focus on lived time, it expands and becomes richer, rather than narrowing or contracting. It's a flow that carries us and connects us with others, rather than something we chase and never catch. To combat time famine, we need to remind ourselves that the clock is a tool, not a master. We should beware of digital alerts and alarms that divide our day into smaller pieces and instead focus on the rich pattern of changing connections that wire us into each moment. By doing so, we can tap into the creative process of lived time and experience a more fulfilling and connected life.