Obviously, we, the populace are still going through a certain measure of illiteracy when it comes to innovation
#quote: Sim Shagaya on knowing where to stand
“There is a point where – you as the founder – have to make the decisions. If you genuinely believe this is it, there’s a place for you to stomp your feet!”
Crypto Scammers hack OpenAI Newsroom’s official X account
Just yesterday, September 23, 2024, OpenAI’s official Newsroom account on X (formerly Twitter), @OpenAINewsroom, was hacked by cryptocurrency scammers. The hackers posted about a fake token called “$OPENAI,” claiming it would connect AI and blockchain technology. It promised incentives to users that would connect their wallets. If you come across pages like this, don’t connect! This post included a link to a phishing link designed to mimic OpenAI’s legitimate website. It asks users to connect their crypto wallets, which is likely to steal their credentials. OpenAI is investigating the incident, this follows previous similar attacks on its accounts. What Similar Attacks? OpenAI has faced multiple similar attacks in the past. In June 2023, the accounts of Chief Technology Officer Mira Murati and Chief Scientist Jakub Pachocki were hacked, promoting a fake $OPENAI token. Additionally, researcher Jason Wei’s account was compromised around the same time, and identical scam posts were shared. These incidents show us a troubling trend of targeted phishing campaigns against OpenAI-associated accounts, often linked to fraudulent cryptocurrency schemes. Generally, I suspect this to be the start of a series of AI-related scams to come. It’s clear we need to keep our eyes peeled, and our wallets close and use these AI tools with more precautions.
PalmPay introduces *862# USSD code for easy transactions
PalmPay Nigeria has launched a new USSD service with the code *862#. This service aims to make it easier for customers to transact and access financial services when they don’t have reliable internet connectivity. *862# Palmpay code allows all users to do various banking transactions–like sending money, and checking account balance–directly from your small mobile phone, eliminating the need for smartphones or data connection at all. You can also use the code to access a security feature that lets you quickly block your account if your mobile device is lost or stolen. The introduction of the *862# USSD code is part of PalmPay’s mission to bridge the digital access gap in Nigeria and improve payment convenience in a market often interrupted by poor data networks. Since its launch here in 2019, Chinese-owned PalmPay’s aggressive growth strategy–pre-installing the app on Tecno, Infinix and Itel smartphones–accounted for 36.2% or 8.2 million smartphones sold during the third quarter of 2019.
Minister Bosun Tijani’s AI Fund – A big idea or “wee money”?
Investors and tech leaders are expressing scepticism about the newly launched N100 million AI Fund aimed at Nigerian startups, deeming it wee money for developing groundbreaking innovations. The initiative, announced by the Minister Bosun Tijani himself on media, aims to support early-stage startups building artificial intelligence. However, many believe that the funding amount is insufficient for the ambitious goals set for AI development in Nigeria. The fund, which offers up to N10 million per selected startup, is part of a broader strategy to advance Nigeria’s digital economy through AI. While the government and Google, which is collaborating on this initiative, emphasise the goal of nurturing private early-stage startups. Critics are backlashing the initiative that its financial backing falls short of what is necessary to make a “good start” and significant impact. Stakeholders have pointed out that… (1.) AI development demands not only substantial funding but… (2.) also access to advanced hardware and technically skilled personnel, which the current fund does not adequately address. As one commentator noted: “AI requires not just deep learning algorithms and vast amounts of data to train but also the hardware systems powered by powerful networked GPUs and other massive computational cores.” This shows that the high costs needed to build AI infrastructure alone that the fund–fails to cover. Overall, while the initiative is seen as a step in the right direction, many in the tech community feel that it lacks the hefty investment needed to truly leap Nigeria into the forefront of AI innovation. The sentiment is clear: without more substantial investment, the aspirations for groundbreaking advancements may remain just that—aspirations!