The dollar is now better value, says the Big Mac index | Tech Companies' New Favorite Solution for the AI Content Crisis Isn't Enough | Winning Mega Millions ticket sold in Neptune Beach, Florida, for record jackpot of $1.58 billion

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Don't like ads? Go ad-free with TradeBriefs Premium The dollar is now better value, says the Big Mac index - The Economist    American inflation has left its mark across the country’s economy and the world’s financial markets. It has also reared its head between the Golden Arches. Since 1986 The Economist has tracked the price of a McDonald’s Big Mac around the world as a light-hearted guide to the fair value of currencies. Our index shows that the median price of the burger in its home market rose to $5.58 in July, an increase of over 4% since January and 8.3% compared with a year earlier. That is the beefiest rate of American McFlation recorded in our index since July 2012. Compared with the rest of the world, however, Americans have escaped lightly. From January to July the price of a Big Mac has risen more than twice as fast in the euro zone and Britain, and nearly four times as fast in Canada (see chart). What does this mean for the fair value of currencies? According to the theory of purchasing-power parity, a currency’s fundamental value reflects the amount of goods and services it can buy, including burgers. If the price of the Big Mac rises, the currency can buy fewer of them. Its fair value has therefore declined. Since the price of burgers is rising even faster in Europe, Japan and Canada than in America, their currencies’ purchasing power is dropping faster than the dollar’s. Continued here You Might Like � � � � � � � � � Tech Companies’ New Favorite Solution for the AI Content Crisis Isn’t Enough - Scientific American    From college plagiarism to cybercrime scams, generative AI is eroding trust in online content. Digital watermarking is no quick fix for the problem Thanks to a bevy of easily accessible online tools, just about anyone with a computer can now pump out, with the click of a button, artificial-intelligence-generated images, text, audio and videos that convincingly resemble those created by humans. One big result is an online content crisis, an enormous and growing glut of unchecked, machine-made material riddled with potentially dangerous errors, misinformation and criminal scams. This situation leaves security specialists, regulators and everyday people scrambling for a way to tell AI-generated products apart from human work. Current AI-detection tools are deeply unreliable. Even OpenAI, the company behind ChatGPT, recently took its AI text identifier offline because the tool was so inaccurate. Now, another potential defense is gaining traction: digital watermarking, or the insertion of an indelible, covert digital signature into every piece of AI-produced content so the source is traceable. Late last month the Biden administration announced that seven U.S. AI companies had voluntarily signed a list of eight risk management commitments, including a pledge to develop “robust technical mechanisms to ensure that users know when content is AI generated, such as a watermarking system.” Recently passed European Union regulations require tech companies to make efforts to differentiate their AI output from human work. Watermarking aims to rein in the Wild West of the ongoing machine learning boom. It’s only a first step—and a small one at that—overshadowed by generative AI’s risks. Continued here Winning Mega Millions ticket sold in Neptune Beach, Florida, for record jackpot of $1.58 billion -     A single winning ticket was sold for Tuesday night's record estimated $1.58 billion Mega Millions jackpot, lottery officials said. It was purchased at a Publix supermarket in Neptune Beach, Florida. Neptune Beach is on the Atlantic coast, near Jacksonville.  The winner has the choice of taking an estimated lump sum payment of $783.3 million before taxes or going with the annuity option. That consists of an immediate payment followed by 29 annual payments that increase in value and eventually equal the full jackpot minus taxes. The jackpot had been growing since it was last won in New York in mid-April. Since then, 31 drawings were held without anyone matching all six numbers. That changed in the 32nd. Continued here

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