DAILY INNOVATION BRIEF by Edward Kane, Journalist

  DAILY INNOVATION BRIEF              

By Journalists Edward Kane & Maryanne Kane

AI CAN PREDICT INTEREST RATE DECISIONS

                                                            Source:  Bank of England & Stock

• UK researchers have used AI to successfully predict future interest rate decisions by the Bank of England.  Here's what we know:

1. Researchers at Sheffield University's School of Business used the generative AI program ChatGPT to successfully forecast interest rate decisions by the Bank of England
2. They fed the AI program more than 700 speeches made by top Bank of England policymakers right before interest rate decisions between 1997 and June 2023
3. The AI program correctly predicted the rate decision 32% of the time, which is a big breakthrough
4. A success rate above 10% in social science statistical predictions like this is considered outstanding
5. The potential benefit for the public is significant because it enables them to make informed, personal financial decisions based on AI forecasting of where interest rates are headed
6. The research also showcases the big potential for AI to forecast critical financial decisions
7. This particular use of generative AI could be gamechanging.

DOZENS OF UFO'S REPORTED IN US EVERYDAY - ARE OFFICIALS CONCERNED?

                                  Source:  Stock & US Pentagon

• With dozens of UFO sightings being reported to the US government daily, should US government officials be concerned?  Here's what we know:

1. Sean Kirkpatrick, head of the Pentagon's office assigned to investigate the sightings, is concerned
2. He expects hundreds if not thousands more reports will come
3. Some think that the sightings are foreign aircraft spying on us
4. They could pose a flight risk
5. Half of the sightings have been ruled "mundane things" by a Pentagon report
6. A small percentage show capabilities of high-speed travel and "unknown morphologies"
7. Whether from foreign countries or outer space, they pose a national security risk.

HISTORY MADE WITH HYDROGEN FLYING

                                            Source:  H2fly

• History has been made with flights by H2fly, the world's 1st, piloted, electric aircraft powered by liquid hydrogen.  Here's what we know:

1. H2fly is a German startup owned by California-based eVTOL maker Joby Aviation
2. HY4 prototype aircraft uses liquid hydrogen as fuel to power its hydrogen electric fuel cell propulsion system
3. HY4 successfully completed multiple test flights over Slovenia, including one more than 3 hours long
4. Current range is 466 miles with potential of 932 miles
5. This aviation milestone will help usher in hydrogen-powered medium and long-range flights with zero emissions
6. H2fly is now looking to commercialize its aircraft and fuel technologies.

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 "Daily Innovation Brief"© By Edward Kane