Eruption of Mount Ruang volcano puts paid to travel plans, Volcano’s fury sparks tsunami alert

Fury unleashed: A handout from Indonesia’s National Search and Rescue Agency showing people in Sitaro, North Sulawesi, looking at the Mount Ruang volcano, as it spews smoke. — AFP/National Search and Rescue Agency (Basarnas

Volcano’s fury sparks tsunami alert

 

Lives interrupted: Sharul’s daughter’s flight was among the flights cancelled. (Right) Miguel says suspended flights meant students couldn’t get back to their classes in Sarawak.

PETALING JAYA: From family members and students to a would-be bridegroom, the eruption of Mount Ruang volcano in Sulawesi, Indonesia, has caused widespread disruptions to Malaysians – and even their pets – between the peninsula and the South China Sea.

Those affected by the cancelled flights to and from Sabah and Sarawak took to social media to share their experiences yesterday.

On X (formerly Twitter), Tiffa Riza expressed sadness for being unable to return to Kuching to pick up her cats.

“Please pray that my flight doesn’t get delayed because of the volcano eruption. I want to go pick up my cats,” she wrote before finding out about the cancellation of her flight.

She later updated her X status: “I can’t go home because of the volcano. Inbound and outbound flights from Sabah and Sarawak are all cancelled for today and tomorrow.”

A Facebook user, Han Budak Cina, said he was making a trip back to Sarawak yesterday for his wedding tomorrow.

“I was planning to go to Sarawak today (yesterday) ... I’m getting married this Saturday,” he wrote.

Another X user known as Miguel said many Universiti Malaysia Sarawak (Unimas) students from Peninsular Malaysia couldn’t return to their classes in Sarawak following the suspended flights.

“Unimas students from the peninsula who want to go to Sabah and Sarawak this week can’t do so as all flights have been suspended,” he wrote.

Ju Razalli, whose flight from Penang to Sabah was suspended, attached a video of passengers queueing up to leave the aircraft with her post on Facebook.

“All passengers were instructed to leave (the aircraft).

“All flights to Sabah are cancelled effective immediately. Sabah’s airspace is closed,” she wrote.

Sharul Wong posted on Facebook that her daughter’s Malaysia Airlines (MAS) flight from Kota Kinabalu International Airport (KKIA) to Kuala Lumpur International Airport (KLIA) scheduled for departure at 9.50am yesterday was also cancelled.

“Now, she is at KKIA, waiting for MAS to reschedule her flight,” he said.

According to news reports, over 2,000 passengers were stranded at Terminal 2 of KLIA due to the eruption of Mount Ruang.

The cancelled flights involve those to Sandakan, Labuan, Miri, Sibu, Bintulu, Kuching and Brunei, which are expected to be affected until 8am today.

Source link 

Related stories:

Volcano’s fury sparks tsunami alert

Eruption sends air traffic into chaos

Making the best of a bad situation

Wedding joy hits an air pocket

On board and taken off

Ernie Bot helps Chinese tech giant Baidu double down on AI push

 

Ernie LLM has emerged as China’s leading AI foundation model with the broadest range of applications. — China Daily

SHENZHEN: Chinese tech heavyweight Baidu Inc says its large language model and ChatGPT-like chatbot, Ernie Bot, has garnered more than 200 million users since its debut in March 2023.

The company said it is ramping up efforts to bolster the commercial application of generative artificial intelligence (AI) technology.

On Tuesday, Baidu showcased a suite of AI models and development toolkits to empower individuals with accessible and easy-to-use tools to create AI applications at the Create 2024 Baidu AI Developer Conference in Shenzhen, Guangdong.

Robin Li, co-founder, chairman and chief executive officer of Baidu, said at the event that the Ernie LLM has now emerged as China’s leading AI foundation model with the broadest range of applications.

LLMs refer to AI models fed with huge amounts of text data for use in a variety of tasks, ranging from natural language processing to machine translation.

Li said the Ernie model has achieved an obvious upgrade with improved performance in code generation, code interpretation, and code optimisation in recent months, and its capabilities have reached a world-leading level.

The inference performance of the Ernie model has improved by 105 times compared with the one launched last March, and its inference cost has been reduced to only 1% of the previous version, he said.

Furthermore, more than 85,000 enterprise clients have used Baidu’s enterprise-level LLM platform, Qianfan, to create 190,000 AI applications.

“AI is catalysing a revolution in creativity. In the future, developing an AI application will be as straightforward as creating a short video. Everyone can be a developer and create,” Li said.

Li also said multimodal LLMs that integrate different types of content like text, images, speech and video into AI models are key to the future development of AI.

This approach has been largely regarded as essential for realising artificial general intelligence, which is a theoretical AI system with capabilities that rival those of a human, Li said.

Charlie Dai, vice-president and principal analyst at Forrester, a research firm, said that as one of the leaders in the AI software market in China, Baidu has made substantial progress in the technological evolution of foundation models, which are becoming critical for next-generation AI applications.

He added that the company was expanding its business ecosystem of generative AI technology.

At the event, Li also noted that “the most significant use for large visual models is in autonomous driving systems”.

Baidu’s goal is not just about teaching AI to create video but also about enabling AI to comprehend real-world dynamics and predict future events, which are critical for driving autonomously.

He said the company has utilised extensive data from over 100 million kilometres of testing on complex city roads in China to develop the visual model for its autonomous driving platform, Apollo.

The multimodal LLM is an undeniable future development direction for generative AI technology, said Lu Yanxia, research director at market consultancy IDC China.

She added that the LLMs necessitate a higher demand for data and knowledge in professional fields and for talent that can fine-tune specialised models based on diverse industrial demands.

Lu said Chinese tech companies should pool more resources into improving computing power, algorithms and the quality of data to gain a competitive edge in the global AI chatbot race.

Pan Helin, a member of the Expert Committee for Information and Communication Economy, which operates under the aegis of the Industry and Information Technology Ministry, said the Ernie model made achievements in some specialised application scenarios like AI programming.

Pan said more efforts should be made to bolster the vertical industrial application of LLMs in a wider range of sectors. — China Daily/ANN

Source link 

Related:

Chinese internet giants speed up development of AI to tap vast market

Chinese internet giants JD.com and Baidu are aiming to speed up the development and adoption of artificial intelligence (AI) large language models (LLMs), as they hope to deploy their latest technologies to tap China's massive online market.

Baidu's AI generative product ERNIE Bot amasses over 100 million users as China welcomes a 'battle

Baidu launches enhanced ERNIE 4.0 AI generative bot

unlimited opportunities for new innovations.nbsp;brbrIn his keynote, Li showcased the new ERNIE Bot...

2023/10/17 Source: Global Times | Author: Global Times | Column: Economy

Factors underpinning bullish outlook for gold

Shining bright: A saleswoman showing gold bangles at a shop in Kolkata, India. The escalation in geopolitical risks in the Middle East may see the precious metal take centre stage this week. — Reuters

PETALING JAYA: There is a growing bullish outlook for gold as a safe and stable investment given the bias to shift towards monetary easing by major central banks, rising geopolitical tensions, aggressive purchasing by central banks and increasing global debt concerns.

OCBC Bank foreign exchange strategist Christopher Wong said while investors have adjusted expectations regarding the timing and extent of the US Federal Reserve’s (Fed) initial rate cut, the consensus that a cut is the next step remains firm.

“The prospects of global monetary easing, central banks’ sustained purchase of gold and geopolitical concerns remained the key drivers underpinning gold’s bullish outlook,” he told StarBiz.

Wong noted the European Central Bank, the Bank of England, the Swiss National Bank, and the Bank of Canada are expected to enter a phase of monetary easing.

“This synchronous easing potential should continue to boost the appeal of gold,” he added.

However, from a positioning and market dynamics perspective, Wong advised caution due to the risk of a near-term retracement in gold prices.

This caution stems from the rapid increase in gold prices in the short recent period and the currently stretched long positions in gold.

That was evident at last Friday’s price action when it hit a high of US$2,431 a troy ounce before profit-taking saw gold settle at US$2,343 for the week.

The escalation in geopolitical risks in the Middle East over the weekend could see the precious metal take centre stage this trading week as investors look for safe havens.

Wong’s medium-term forecast is for gold to rise to US$2,435 per troy ounce by the first half of 2024.

Meanwhile, SPI Asset Management managing director Stephen Innes pointed out unusual circumstances for gold market makers.

He said despite the 10-year US real yields reaching around 2% – the highest since the Lehman crisis – gold prices have continued to climb, setting record highs in 2024.

“Given that gold doesn’t pay any interest, it should be facing competition and pressure. However, despite this, gold has hit record after record high in 2024 and is far from being down and out,” he said.

Innes pointed out that the primary appeal of gold lies in its role as an inflation hedge.

“If you’re not a gold bug, the yellow metal has one primary appeal: it serves as an inflation hedge,” he added.

With no internal rate of return, he said its value often hinges on its ability to preserve purchasing power in times of rising prices

However, regardless of the inflation trends, Innes expected the Fed to cut rates.

This expectation is supported by the US national debt’s rapid increase, with much of this debt financed through short-term instruments.

“The US national debt is rising by US$1 trillion every 100 days. By the time Americans head to the polls in November, it’s expected to reach US$37 trillion. But most of this is getting funded in less than one-year tenor,” he explained.

Innes further explained that the US Treasury has substantially increased its issuance of treasury bills with maturities of less than one year.

The strategy has decreased the average maturity of its debt, making it more sensitive to short-term interest rate changes.

“As a result, this Treasury Twist encourages the Fed to reduce interest rates to ease front-end volatility,” he added.

Innes suggests that initially, the Fed’s interest rate cuts might not directly target reducing the Treasury’s borrowing costs.

However, he said eventually monetary policy could pivot towards facilitating this fiscal largesse.

Ultimately, Innes expects in the near to medium term, the Fed might find itself compelled to assist in managing the US Treasury’s interest payments by reducing rates – a policy shift that could continue to bolster gold’s appeal.

Source link 

Related articles:

Despite high price, gold still hasn't lost its shine

Gold burns a hole in the pocket (Poll Inside)

Gold Has Taken a Beating — but Hasn't Lost Its Shine. ...

Gold Trades at Record Highs, But Will It Lose Its Shine?

Is gold losing its shine as a safe-haven asset? - The National

Fewer giving gold as gifts at weddings

Chinese Wedding Tea Ceremony gift ideas

Habib Jewels