Apparently, not all inflation is bad; sometimes, it is even necessary for the economy. This good inflation comes around after technological advancements that temporarily allow people to be more frugal with their money (like credit cards), resulting in higher prices. These higher prices seem to be good for the economy because they help stabilise the value of money to a level that matches consumers’ demand for it. After the technology becomes widespread, the prices themselves stabilise as well.
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Societal Issues
AI Predicts Crime A Week In Advance With 90 Per Cent Accuracy
An artificial intelligence model built by Ishanu Chattopadhyay and his colleagues analysed crime data in Chicago from 2014 to 2016 and managed to predict future levels of crime down to the nearest 300 metres, a week before they actually happened. While extremely useful, this artificial intelligence has been shown to expose racial prejudice in law enforcement. Hopefully, as the study’s data and methodology have been made available for others to evaluate, these prejudices can be avoided in the next iteration. Read full article here
Merv
August 15, 2022
