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Spain Secures Olympic Gold While Samu Omorodion Watches from the Sidelines

by theparliamentnews.com
written by theparliamentnews.com

Spain clinched the gold medal in men’s football at the Paris Olympics after a dramatic final against France. Despite a nail-biting finish, Spain emerged victorious, adding the Olympic title to their earlier Euros triumph.

The match was a rollercoaster, with France taking an early lead due to a goalkeeping mishap. However, Spain quickly turned the game around, scoring three goals in a swift ten-minute burst. France mounted a fierce comeback in the final minutes of regulation, including a controversial VAR-awarded penalty that leveled the score. The contest was ultimately decided in extra time, where Spain sealed the win and completed a remarkable double.

Chelsea-bound striker Samu Omorodion, who was part of Spain’s squad, did not feature in the final, likely due to his impending transfer to Chelsea. Omorodion made his mark earlier in the tournament by starting one match and scoring a goal. He will join Chelsea soon and compare medals with fellow Blues player Marc Cucurella. Barcelona’s Fermín López led Spain’s goal-scoring with six goals throughout the tournament.

In related news, the USWNT, managed by Emma Hayes, is set to compete for gold against Brazil tomorrow in what promises to be an exciting conclusion to the women’s football tournament.

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BlogFeaturedSports

Breaking Olympics: Breakdancing Makes Its Olympic Debut at Paris 2024

by theparliamentnews.com
written by theparliamentnews.com

The Paris Olympics has welcomed a vibrant and dynamic addition to its roster of sports: Breaking, also known as breakdancing. Making its Olympic debut on Friday at 7:30 pm, this electrifying dance discipline is set to captivate audiences with its fusion of athleticism and artistry.

What Is Breaking?

Breaking, the official term for what is popularly known as breakdancing, is a high-energy sport combining intricate dance moves with athletic prowess. Rooted in the hip-hop culture of New York, Breaking is a one-on-one battle where athletes showcase their skills through a series of spins, twists, and gravity-defying moves. The competition involves solo performances judged on creativity, technique, and the ability to impress the audience and panel of judges.

Why Is Breaking at the Olympics?

The International Olympic Committee’s decision to include Breaking in the Paris 2024 Games aligns with a broader trend of integrating sports that appeal to younger audiences and reflect contemporary urban culture. Breaking first gained international attention at the 2018 Summer Youth Olympic Games in Buenos Aires, and its success there paved the way for its inclusion in the main Olympic program. This debut is a testament to the sport’s growing global popularity and its alignment with the Olympic values of inclusivity and innovation.

The Olympic Stage for Breaking

Set against the iconic backdrop of Place de la Concorde, the largest public square in Paris, Breaking will feature both men’s and women’s events. The competition will see 16 B-Boys and 16 B-Girls go head-to-head in thrilling solo battles. Athletes will utilize a range of power moves—such as windmills, the 6-step, and freezes—while adapting their performances to the beat of the DJ’s tracks, aiming to secure top marks from the judges.

Breaking vs. Breakdancing: What’s the Difference?

While the terms are often used interchangeably, “Breaking” pays homage to the sport’s origins, referencing the breaks in DJ tracks when dancers would showcase their moves. “Breakdancing” is the more familiar term to many, but both refer to the same high-energy dance form that blends technical skill with creative expression.

What to Expect

The debut of Breaking promises to be a highlight of the Paris Games, offering a fresh and dynamic spectacle. As athletes take to the floor, the combination of athleticism and dance will provide a new dimension to the Olympic experience, showcasing a unique blend of cultural and physical expression.

As the world tunes in to witness this historic debut, Breaking is set to make a lasting impression on the Olympic stage, further cementing its place in the global sporting arena. The Paris 2024 Olympics is not just a celebration of traditional sports but also a platform for showcasing the diverse and evolving landscape of competitive athletics.

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BlogBusinessFeaturedIndia

RBI Holds Repo Rate Steady: A Positive Signal for Homebuyers and Real Estate Investors

by theparliamentnews.com
written by theparliamentnews.com

In a move that bodes well for the real estate sector, the Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 6.5% for the ninth consecutive time. This decision, announced on August 8, aligns seamlessly with the recent announcement on August 7 regarding indexation benefits on the sale of property, offering a double boost to the real estate market.

The RBI’s choice to maintain the current policy rate offers much-needed stability to the housing market, particularly at a time when food inflation remains a concern. With the repo rate holding steady, home loan EMIs will remain manageable for both current and prospective homeowners, a development that could drive an uptick in home sales, especially in the price-sensitive affordable housing segment.

“The monetary policy committee decided by a 4:2 majority to keep the policy repo rate unchanged at 6.5%. Consequently, the standing deposit facility (SDF) rate remains at 6.25%, and the marginal standing facility (MSF) rate and the bank rate at 6.75%,” said RBI Governor Shaktikanta Das during the policy announcement.

Real estate experts are optimistic about the potential impact of this decision. Anuj Puri, Chairman of ANAROCK Group, noted, “Maintaining interest rates offers consistency in borrowing costs, which will prompt more aspiring homebuyers to consider taking the plunge—thus driving demand in the housing market. With interest rates staying steady, EMIs will remain manageable, potentially leading to increased home sales.”

The RBI’s decision also coincides with the recent announcement of indexation benefits, which is expected to have a positive impact on the property market. The indexation benefits allow for adjustments to the purchase price, taking inflation into account, which in turn reduces capital gains tax upon the sale of property. This tax advantage makes real estate investments more appealing, further spurring demand and capital flow into the housing sector.

Samantak Das, Chief Economist and Head of Research and REIS, India, JLL, emphasized the significance of the RBI’s steady approach: “The RBI’s intention in keeping rates unchanged is to ensure a stable interest rate environment and price stability, which is crucial for sustained growth. However, future rate cuts in India will primarily be influenced by domestic factors.”

Looking ahead, experts believe that the sentiment in the real estate sector is likely to remain positive throughout the upcoming festive season. The combination of stable interest rates and recent government initiatives, such as the rationalization of stamp duty charges and concessions for women homebuyers, is expected to further support this momentum.

Vimal Nadar, Senior Director and Head of Research at Colliers India, remarked, “Strong visibility in financing charges should help homebuyers and developers alike in the upcoming festive season. The partial withdrawal of the applicability of the revised LTCG tax arising out of the sale of land and buildings retrospectively provides elbow room to affect housing sales with minimal tax outgo. This is likely to buoy investor and homeowner sentiment, benefiting the real estate sector at large.”

Real estate developers have welcomed the RBI’s decision, viewing it as a positive signal for the industry. G Hari Babu, National President of NAREDCO, expressed confidence in the stable environment created by the unchanged repo rate and the RBI’s forecast of 7.2% GDP growth for FY25. “With steady borrowing costs, home loans become more affordable, which is likely to boost demand in the housing market, especially during the upcoming festive season,” he said.

The RBI’s balanced approach to economic management, amidst global economic uncertainties, has reassured investors and provided a stable backdrop for the real estate sector to thrive. As the festive season approaches, the current status quo on the repo rate is expected to further support the momentum in the housing market, creating a conducive environment for both homebuyers and developers.

In conclusion, the RBI’s decision to keep the repo rate steady is a welcome development for the real estate sector, offering stability and predictability in borrowing costs. Combined with recent government initiatives, this move is likely to boost demand in the housing market, particularly in the affordable segment, and position real estate as a strong avenue for long-term wealth growth.

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BlogFeaturedSportsWorld

Scaling New Heights: American Teen Sam Watson Shatters World Record in Sport Climbing

by theparliamentnews.com
written by theparliamentnews.com

A thrilling display of athleticism and speed – American teenager Sam Watson set a new world record in the relatively new Olympic event of sport climbing. On Tuesday, Watson clocked an astonishing 4.75 seconds in the speed climbing qualification rounds at the Paris Olympics, breaking his own previous record of 4.79 seconds, which he set earlier this year at a World Cup event in China. This incredible feat also earned him the distinction of the fastest time ever recorded in a timed Olympic sport.

Sport climbing, which made its Olympic debut in Tokyo 2021, is still a novel event for many spectators. It was initially introduced as a combined event featuring three distinct disciplines: bouldering, lead climbing, and speed climbing. Bouldering involves climbing short, technical routes without a rope, lead climbing requires athletes to clip a rope to protection points along the way, and speed climbing focuses purely on how quickly climbers can ascend a 15-meter wall.

For the Paris Games, sport climbing has been restructured into two separate medal opportunities: one combining bouldering and lead climbing, and the other dedicated solely to speed climbing. This change came in response to criticism from athletes and fans who felt that the combined event in Tokyo did not adequately showcase the unique skills required for each discipline. Many argued that forcing climbers to compete across all three specialities created an unfair “circus” that diminished the technical aspects of the sport.

In speed climbing, athletes compete head-to-head, racing to the top of the wall in a bracket-style elimination format. The climbers with the slowest times are progressively eliminated until one victor emerges. This high-octane format not only tests raw speed but also the mental fortitude and composure of the athletes under intense pressure.

Watson, an 18-year-old from Texas, has been a standout in the sport, consistently pushing the boundaries of what is possible. His latest record-breaking performance has cemented his status as a rising star in the climbing world. In the quarterfinals of the men’s speed event, Watson will face New Zealand’s Julian David, with the eyes of the world watching to see if he can maintain his blistering pace.

The restructuring of sport climbing into distinct disciplines for the Paris Olympics has been widely praised, allowing athletes to demonstrate their expertise in their preferred specialities. This move has also brought more clarity and excitement to the sport, with spectators able to appreciate the unique challenges and skills involved in each event.

Sam Watson’s record-breaking achievement not only highlights his incredible talent but also underscores the growing popularity and competitive spirit of sport climbing. As the sport continues to evolve, athletes like Watson are sure to inspire the next generation of climbers to reach new heights.

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BlogFeaturedSports

Neeraj Chopra – India’s Golden Boy Shines Bright in Paris Olympics

by theparliamentnews.com
written by theparliamentnews.com

August 6, 2024, has been etched in history as “Neeraj Chopra Day” by the official Olympics X handle, celebrating India’s golden boy who stormed into the men’s javelin final with a spectacular season-best throw of 89.34 meters. Neeraj Chopra, the defending champion and independent India’s only medalist in athletics, showcased his unparalleled prowess by topping the qualification round on Tuesday with just one attempt.

In Qualification B, Neeraj set the tone early, launching his first javelin far beyond the automatic qualification mark of 85 meters, ensuring his spot in the final. The final showdown is scheduled for Thursday at 11:55 pm IST, where the stakes and anticipation are higher than ever.

Reflecting on his performance, Neeraj remarked on the contrasting conditions between Tokyo and Paris. “In Tokyo, we threw in the sunshine and here it’s a bit cooler and the humidity is much lesser. Tokyo was much warmer and more humid than Paris. The big difference is that there are crowds here,” he shared.

Neeraj’s journey from a sunny Tokyo to a cooler Paris has been marked by relentless focus and determination. “Being the defending champion is motivation, and I need to be prepared. The mind should be focused on doing the job at hand,” Neeraj stated, underscoring his resolve to maintain his winning streak.

Despite his impressive throw in the qualification round, Neeraj remains cautious and grounded. “The final will be a cracker, the Tokyo final mark has already been surpassed by qualification. We were a little relaxed today. The burden and pressure will be much more in the final,” he noted, acknowledging the heightened competition ahead.

Addressing concerns about his fitness, Neeraj opened up about his recent injury struggles. “I have had a few issues with my groin, and that is why I did not take part in a lot of competitions. It is important to stay fit and reach the final,” he said, emphasizing the significance of maintaining peak physical condition.

As India rallies behind its golden boy, the anticipation for Thursday’s final builds. Neeraj Chopra’s remarkable entry into the finals not only cements his legacy but also inspires millions, reinforcing the spirit of determination and excellence. With the world watching, Neeraj is poised to deliver yet another unforgettable performance, marking another chapter in his illustrious career.

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BlogBusinessFeatured

Indian IT Giants Poised for Growth as Microsoft’s Cloud and AI Revenues Soar

by theparliamentnews.com
written by theparliamentnews.com

In a promising development for the domestic IT sector, leading Indian companies such as Tata Consultancy Services (TCS), Infosys, Wipro, HCL Technologies Ltd, and Tech Mahindra are in the spotlight following Microsoft’s robust Q4 performance. Microsoft’s revenue slightly surpassed US analyst estimates, with its operating margin aligning closely with Wall Street expectations. The tech giant hinted at increased infrastructure investments in FY25, aiming to meet the rising demand for its AI and cloud products.

Under the leadership of Satya Nadella, Microsoft projected a Q1FY25 revenue growth of 13.5-15.3% year-over-year (YoY), driven by an impressive 19.2-20.5% YoY growth in its Intelligent Cloud segment. This growth is further bolstered by a remarkable 28-29% constant currency (CC) YoY increase in Azure.

Nuvama Institutional Equities observed that Microsoft’s Azure business has been accelerating for five consecutive quarters, a significant turnaround after experiencing a six-quarter deceleration. “AI contributed 8% to Azure growth, and the overall pickup in cloud services is encouraging, signaling positive prospects for Indian IT services companies. We anticipate a surge in cloud spending in FY25, following a modest FY24, leading to higher overall growth,” Nuvama stated.

For the quarter, Microsoft reported revenue of $64.7 billion, marking a 16% YoY increase in CC terms. The Intelligent Cloud segment emerged as the fastest-growing area, with its revenue surging 20% YoY in CC to $28.5 billion, meeting the company’s guidance. Notably, Azure’s revenue grew by 30% CC YoY, including 800 basis points from AI services.

Microsoft’s management highlighted that the Azure consumption business is outpacing the overall Azure growth. The number of Azure AI customers has risen by 60% YoY, with the company now boasting over 60,000 Azure AI customers. The demand for Azure continues to exceed the available capacity, underscoring the platform’s robust market position.

“Productivity and business process revenue reached $20.3 billion, up 12% CC YoY. Office consumer revenue grew by 4% CC YoY, driven by sustained momentum in Microsoft 365 subscriptions, while Office commercial licensing saw a 7% CC YoY decline due to the ongoing shift to cloud offerings,” Microsoft reported.

The positive outlook for Microsoft’s cloud and AI segments bodes well for Indian IT giants, suggesting a fertile ground for growth as global demand for these technologies continues to rise. The increased investment in infrastructure and the steady rise in Azure’s customer base highlight a thriving market landscape, promising significant opportunities for Indian IT service providers in the coming fiscal year.

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BlogFeaturedWorld

Sheikh Hasina Resigns: Protests Escalate to Violence in Dhaka

by theparliamentnews.com
written by theparliamentnews.com

In a dramatic turn of events, Bangladesh Prime Minister Sheikh Hasina has resigned and fled the capital Dhaka as violent clashes erupted, with vast crowds of protesters demanding her resignation. The intensity of the situation escalated quickly, leading to an unprecedented political crisis in the country.

Prime Minister Forced to Flee

Sheikh Hasina and her sister have reportedly left the Prime Minister’s official residence, Ganabhaban, seeking refuge in a safer location. The sudden departure highlights the severity of the unrest that has gripped the nation. According to a source, the Prime Minister intended to address the nation but was unable to do so due to the chaotic circumstances.

Protests Turn Violent

The streets of Dhaka have been engulfed in turmoil as protesters, fueled by frustration and anger, clashed with security forces. The demand for Hasina’s resignation has been a rallying cry for many who are dissatisfied with her leadership. The scenes of unrest have brought the city to a standstill, with reports of injuries and widespread property damage.

Political Crisis Deepens

The resignation of Sheikh Hasina marks a significant moment in Bangladesh’s political landscape. As a prominent figure who has led the country for many years, her departure amid such chaotic circumstances raises questions about the future stability of the nation. The opposition and civil society groups have intensified their calls for a change in leadership, reflecting a deep-seated desire for political reform.

International Concerns

The international community is watching the developments in Bangladesh closely. The violent clashes and political instability have raised concerns about the potential for further escalation. Diplomatic efforts are likely to be mobilized to encourage a peaceful resolution to the crisis and to support the restoration of order.

A Nation in Flux

As Bangladesh navigates this period of uncertainty, the road ahead remains unclear. The resignation of Sheikh Hasina, driven by intense public pressure and violent unrest, signifies a turning point. The country’s leaders and its people must now work towards rebuilding trust and establishing a path forward that ensures stability and democratic governance.

The resignation of Sheikh Hasina amidst violent protests marks a watershed moment in Bangladesh’s political history. As the nation grapples with the immediate aftermath, the focus will be on restoring peace and charting a course for a stable and democratic future.

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BlogFeaturedWorld

Rising Tensions: Iran-Israel Conflict Pushes Middle East to the Brink of War

by theparliamentnews.com
written by theparliamentnews.com

The Middle East is teetering on the edge of a full-scale conflict as tensions between Israel and Iran escalate. The recent assassinations of key militant leaders and subsequent military actions have heightened fears of an all-out war, prompting urgent diplomatic efforts from Western nations led by the United States to defuse the situation.

Assassinations Ignite Tensions

The region has been on high alert following the assassinations of Hezbollah commander Faud Shukr in Lebanon and Hamas leader Ismail Haniyeh in Tehran. Israel has admitted responsibility for Shukr’s death but remains ambiguous about its involvement in Haniyeh’s assassination. Iran’s Supreme Leader Ayatollah Ali Khamenei has vowed revenge, escalating threats of retaliation through Hezbollah targeting deep inside Israel.

Diplomatic Efforts Amid Rising Hostilities

The United States has stepped up its diplomatic efforts to prevent a broader conflict. General Michael Kurilla, commander of US forces in the Middle East, is visiting regional powers to mobilize support for Israel and prepare for potential escalations. Jordan’s Foreign Minister Ayman Safadi is also set to meet Iranian leadership to discuss the fast-moving developments, signaling a broader regional push to prevent further violence.

Escalating Violence

The violence continues to spiral, with Israeli airstrikes targeting Hezbollah rocket launchers in southern Lebanon in response to overnight rocket attacks. Meanwhile, Israeli and Palestinian militants are locked in a deadly exchange. Israeli strikes in Gaza’s Al-Aqsa Martyrs Hospital have resulted in civilian casualties, including children, while a Palestinian stabbing attack in Holon claimed the lives of two elderly Israeli citizens.

International Repercussions

The rising threat of war has prompted several countries to take precautionary measures. France and Sweden have urged their citizens to leave Lebanon, joining the United States and the United Kingdom in advising nationals to evacuate. The Indian Mission in Israel has also issued a safety advisory to its citizens, emphasizing vigilance and adherence to safety protocols.

Humanitarian Concerns and Global Response

The humanitarian impact of the escalating conflict is severe. Civilian casualties and displacement are mounting as airstrikes and attacks continue. The international community is calling for restraint and a return to negotiations to prevent further loss of life and regional destabilization.

Conclusion

As the Middle East stands on the brink of a potentially devastating conflict, the urgent need for diplomatic intervention and de-escalation is more critical than ever. The world watches closely, hoping that cooler heads will prevail to avert a war that could have catastrophic consequences for the region and beyond.

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BlogFeaturedSports

India Triumphs Over Great Britain in Dramatic Shoot-Out to Enter Men’s Hockey Semifinals at Paris Olympics

by theparliamentnews.com
written by theparliamentnews.com

In a thrilling quarterfinal match at the Paris Olympics, the Indian men’s hockey team secured a hard-fought victory against Great Britain, winning 4-2 in a penalty shoot-out to advance to the semifinals. Despite playing with 10 men for over 40 minutes, the team displayed exceptional grit and determination, keeping their hopes alive for a second consecutive Olympic medal.

The match was a roller-coaster of emotions, marked by intense moments and heroic performances. The Indian team faced an early setback when Amit Rohidas received a red card for raising his stick against a British player, reducing the team to 10 men. However, the Tokyo Olympics bronze medallists held their ground and managed to maintain a 1-1 scoreline in regulation time, forcing a shoot-out.

Sreejesh’s Heroic Saves

Veteran goalkeeper PR Sreejesh emerged as the star of the match, delivering a stellar performance under immense pressure. Sreejesh, playing in his last international tournament, was a fortress in front of the Indian goal, making multiple crucial saves throughout the game. His heroics in the shoot-out, where he blocked attempts from Connor Williamson and Phillip Ropper, were pivotal in India’s victory.

The Battle on the Field

The match saw India take the lead in the 22nd minute through a penalty corner converted by Harmanpreet Singh. Great Britain quickly responded, equalizing in the 27th minute with a field goal from Lee Morton. The controversial red card to Rohidas shifted the dynamics of the game, with Great Britain relentlessly attacking the Indian defense.

Despite being a man down, the Indian team, led by Sreejesh’s spectacular saves, managed to thwart multiple penalty corner attempts by Great Britain. The match remained fiercely contested, with both teams unable to break the deadlock in regular time.

The Shoot-Out Drama

In the penalty shoot-out, the Indian shooters were on target, with Harmanpreet Singh, Sukhjeet Singh, Lalit Upadhyay, and Rajkumar Pal all scoring. Great Britain managed to score twice through James Albrey and Zach Wallace, but it wasn’t enough to overcome the Indian side, thanks to Sreejesh’s outstanding performance.

Former captain Manpreet Singh highlighted the team’s preparation for such scenarios, stating, “We were not bothered by losing one man; we prepare for such situations in training. It was a great win.”

Looking Ahead

India’s impressive victory sets up a semifinal clash against the winner of the quarterfinal match between Germany and Spain. The Indian team’s resilience and tactical acumen will be crucial as they aim to secure a spot in the final and potentially win their second consecutive Olympic medal.

This remarkable win is a testament to the team’s fighting spirit and strategic brilliance, with Sreejesh’s legendary goalkeeping leaving an indelible mark on the Paris Olympics. As the tournament progresses, all eyes will be on the Indian men’s hockey team as they continue their quest for Olympic glory.

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BlogBusinessFeatured

Meta Unveils the Largest Open AI Model Ever: Why It Matters for the Future of AI

by theparliamentnews.com
written by theparliamentnews.com

Meta, the parent company of Facebook, has launched a new collection of large AI models, including Llama 3.1 405B, touted as the “first frontier-level open-source AI model.” This development marks a significant shift in the ongoing battle between open- and closed-source AI, with Meta firmly advocating for the benefits of open-source AI.

The Battle of Open-Source vs. Closed-Source AI

The AI industry is divided into two camps: those who keep their datasets and algorithms private (closed-source) and those who make them publicly accessible (open-source). Closed-source AI models, such as OpenAI’s ChatGPT, Google’s Gemini, and Anthropic’s Claude, protect intellectual property but lack transparency and public trust. Open-source AI, on the other hand, promotes innovation, accountability, and collaboration by making code and datasets available to all.

Why Open-Source AI is Crucial

Meta’s commitment to open-source AI is a significant step towards democratizing AI. By making models like Llama 3.1 405B accessible, Meta is fostering an environment where innovation can thrive through community collaboration. This transparency allows for the identification of biases and vulnerabilities, which is crucial for ethical AI development.

Open-source AI also benefits small and medium-sized enterprises, which often lack the resources to develop large AI models from scratch. With access to powerful models like Llama 3.1 405B, these organizations can compete on a more level playing field.

The Risks and Ethical Concerns

While open-source AI has many advantages, it also poses risks. The open nature of the code and data can lead to quality control issues and potential misuse by malicious actors. Ensuring that open-source AI is developed and used responsibly requires robust governance and ethical frameworks.

Meta as a Pioneer in Open-Source AI

Meta’s release of Llama 3.1 405B represents a commitment to advancing AI in a way that benefits humanity. Although the model’s dataset has not been fully disclosed, its open-source nature still levels the playing field for researchers and smaller organizations.

Shaping the Future of AI

To ensure that AI development remains inclusive and beneficial, we need to focus on three key pillars:

  1. Governance: Establishing regulatory and ethical frameworks to ensure responsible AI development.
  2. Accessibility: Providing affordable computing resources and user-friendly tools for developers.
  3. Openness: Ensuring datasets and algorithms are open source for transparency and collaboration.

Achieving these goals requires a concerted effort from governments, industry, academia, and the public. The public can support this by advocating for ethical AI policies, staying informed about AI developments, and using AI responsibly.

Meta’s launch of the largest open-source AI model is a significant step towards democratizing AI and ensuring it serves the greater good. However, we must address the ethical and practical challenges associated with open-source AI to create a future where AI is an inclusive tool for all. The future of AI is in our hands, and it is up to us to ensure it is used responsibly and ethically.

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