Alphabet Inc. (NASDAQ:GOOG) CEO Still Dancing Around AI Regulations
Google Chief Executive Officer Sundar Pichai continues to dance around the issue of AI regulations. In a new interview with Financial Times, the head of the world’s leading AI company struggled to communicate a concrete stance on the matter.
That isn’t to say Pichai hasn’t already done a lot of thinking on the matter. If anything, his non-committing comments prove the exact opposite. The face of Alphabet’s flagship unit knows he’s walking a thin line whenever he speaks about this subject.
On a conceptual level, the 47-year-old agreed some level of regulations is a neccessity. After all, the field of artificial intelligence is “too important” for regulators to ignore, he explained. As for what such interventions should entail in practice, Pichai’s unsurprisingly hoping for a light regulatory touch.
Sure, the executive still points to Google’s AI principles as evidence the firm’s actively trying to contribute to the public discourse. But it warrants reminding those very same principles still allowed it to actively develop AI meant to kill people. Obviously, the situation’s much more nuanced than that; Washington’s geopolitical rivals are hardly concerned by ethics when it comes to military tech.
Yet it’s high time for legislators to start drawing some lines. And, in an ideal world, Google would be nowhere near the drawing board when that finally happens. Then again, an ideal world wouldn’t be shaped by lobbysts.
Can’t have Google writing AI regulations
The California-based giant is well-aware that outright lobbying against high-profile regulations can only lead to a PR disaster. That’s a natural belief for a company that essentially specializes in ethically questionable AI projects.
The reason Pichai’s insight is so valuable should also, naturally, disqualify him from directly influencing future AI regulations in the U.S. After all, he leads a multi-billion corporation that already made an all-in bet on AI. A corporation answering to shareholders, mind you, so heavy-handed regulations are the last thing it wants.
Publicly saying otherwise would certainly spell a disaster for Google’s stock. It’s hence inconceivable Pichai would ever advocate a regulatory crackdown, regardless of personal beliefs.
Ultimately, it’s difficult to predict how Washington will tackle AI regulations in the coming years. The Trump administration already said it favors a careful approach to the segment, but the current government may be voted out later this year. Then again, it’s not like that would necessarily spell radical changes as Silicon Valley’s rather cozy with most regulators.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 1,361.28.
The projected upper bound is: 1,523.57.
The projected lower bound is: 1,452.93.
The projected closing price is: 1,488.25.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 94.3270. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 16 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 81.29. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 22 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 129.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 3 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 10 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC C closed up 4.010 at 1,484.400. Volume was 52% above average (neutral) and Bollinger Bands were 117% wider than normal.
Open High Low Close Volume___
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,437.30 1,351.80 1,223.52
Volatility: 12 17 29
Volume: 1,646,840 1,355,464 1,415,277
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
ALPHABET INC C is currently 21.3% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect moderate flows of volume into GOOG.O (mildly bullish). Our trend forecasting oscillators are currently bullish on GOOG.O and have had this outlook for the last 29 periods. Our momentum oscillator is currently indicating that GOOG.O is currently in an overbought condition.
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