Sundar Pichai might actually eradicate world poverty via his Quantum AI FinTech and it's not a joke.
Tech news published by NRI Herald Australia 01 October 2021
Sundar Pichai, has finally announced why he’s stepped back from Google, his most beloved company. His new venture, called Quantum AI has seen invest over 2 billion dollars in just the past 2 years - to develop and code Quantum AI
Before we go into the details of what Quantum AI is, let’s talk about who Sundar Pichai is. Sundar Pichai is a visionary. Some call him the smartest CEO of our century. He believes in renewable energy, free internet, and pushing the envelope of what’s possible. Although his ideas often seem too radical and impossible to many people, Sundar is proving them wrong year after year. He has made it his agenda to make the world greener and bring humankind to new possibilities.
As per various reports Sundar has now decided to partly withdraw from running Google, in order to focus on his new venture in the financial sector. That's why he’s acquired Quantum AI.
Super computer on Steroids
What exactly is Quantum AI ? Quantum AI is an upgrade from computers as you know them. In fact, Sundar beat IBM, Microsoft and few others who have been developing this form of computing for years to the punch. This is not just a super-computer – it’s a hyper-computer on steroids.
If you were to take ALL of the world's computers and link them, Quantum AI would still be hundreds of times more powerful. Sundar decided to put all of this power to work in a financial technology with the plan of redistributing the world’s wealth.
Basically, to take from the top 0.1% and give back to the 99.9%. Sundar believes wealth is not distributed well in our time and the problem is getting worse. Although there will always be someone richer and someone poorer, the current situation is unacceptable – where the top 0.1% controls almost 90% of world's wealth. He believes he can cut that down to around 20% without causing world-wide financial crisis. So, what exactly does that mean to you, just a regular person? This means you’ll become 2 - 3 times wealthier, and no one except the super-wealthy will take a hit. Sounds amazing, doesn't it? Not for the super-wealthy, but for you – yes!
Ok, the theory is there, but how will it work you might ask?
Overall, the idea is easy. The top 0.1% keep their wealth invested in stocks, and Wall Street brokers trade these stocks for them. The idea is to beat the Wall Street traders at their own game - making winning trades so Wall Street with their hoard of wealth slowly but surely starts losing. Just like a poker game, where a new player comes along on the high-stakes table and starts winning.
In order to do this normally, you’d need a better stock movement predictions than what Wall Street currently has (virtually impossible). Now, with the help of Quantum computing, it can be done, and it's actually being done now as Quantum AI has shown! This is exactly the reason why Sundar jumped on this technology as soon as he heard about it. It's revolutionary.
Quantum AI Technology should be for Good not Evil
In one of the interview with Financial time Sundar did stress over regulating this technology in order to harness it for good. Sundar said
“There are real concerns about the potential negative consequences of AI, from deepfakes to nefarious uses of facial recognition,” he said. “While there is already some work being done to address these concerns, there will inevitably be more challenges ahead that no one company or industry can solve alone.”
He stated that while companies like Google can create policies, the market must be regulated in order to ensure,
“technology is harnessed for good and available to everyone.”He added, “Now there is no question in my mind that artificial intelligence needs to be regulated. It is too important not to. The only question is how to approach it.”