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Category: economics – Page 5

The company has unveiled plans for a new data center in Richland Parish, Louisiana, marking a significant expansion of its global infrastructure. The $10 billion investment will be Meta’s largest data center to date, spanning a massive 4 million square feet. This state-of-the-art facility will be a crucial component in the company’s ongoing efforts to support the rapid growth of artificial intelligence (AI) technologies. Meta did not disclose an estimated completion or operational date for this facility.

The new Richland Parish data center will create over 500 full-time operational jobs, providing a substantial boost to the local economy. During peak construction, the project is expected to employ more than 5,000 workers.

Meta’s decision to build in Richland Parish was driven by several factors, including the region’s robust infrastructure, reliable energy grid, and business-friendly environment. The company also cited the strong support from local community partners, which played a critical role in facilitating the development of the data center.

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Water electrolysis is a cornerstone of global sustainable and renewable energy systems, facilitating the production of hydrogen fuel. This clean and versatile energy carrier can be utilized in various applications, such as chemical CO2 conversion, and electricity generation. Utilizing renewable energy sources such as solar and wind to power the electrolysis process may help reduce carbon emissions and promote the transition to a low-carbon economy.

The development of efficient and stable anode materials for the Oxygen Evolution Reaction (OER) is essential for advancing Proton Exchange Membrane (PEM) water electrolysis technology. OER is a key electrochemical reaction that generates oxygen gas (O₂) from water (H₂O) or hydroxide ions (OH⁻) during water splitting.

This seemingly simple reaction is crucial in energy conversion technologies like as it is hard to efficiently realize and a concurrent process to the wanted hydrogen production. Iridium (Ir)-based materials, particularly amorphous hydrous oxide (am-hydr-IrOx), are at the forefront of this research due to their high activity. However, their application is limited by high dissolution rates of the precious iridium.

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Just as the metaverse industry finally began its breakthrough, ChatGPT’s launch in November 2022 proved a technological avalanche. Amid post-pandemic economic pressures, companies pivoted away from metaverse aspirations to AI adoption, seeking immediate returns through automation and virtualization.

Apple’s 2023 entry into the space with Vision Pro VR headset has similarly faced challenges. At $3,499, with limited content and a sparse developer ecosystem, Apple struggles to find its market. Early projections suggest initial production runs of fewer than 400,000 units.

What if we’ve been looking for the metaverse in the wrong places? While Meta, HTC and Sony have so far struggled to establish their vision of a VR-first digital world, gaming platforms like Roblox quietly built what might be the actual metaverse.

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The BBC speaks to residents and travellers in some of the top-ranked countries on the 2024 Global Innovation Index to find out how cutting-edge technology benefits day-to-day life.

With the rise of AI, self-driving cars and wi-fi connected appliances, it can feel like innovation is everywhere these days. But certain countries are known for developing cutting-edge technologies that benefit residents and visitors alike.

To dive into those countries making the most impact in these areas, the World Intellectual Property Organisation recently released its 2024 Global Innovation Index, ranking 130 economies based on measures like their education system, technology infrastructure and knowledge creation (like patents filed or mobile apps created).

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In today’s world, the fight against counterfeiting is more critical than ever. Counterfeiting affects about 3% of global trade, posing significant risks to the economy and public safety. From fake pharmaceuticals to counterfeit currency, the need for secure and reliable authentication methods is paramount. Authentication labels are commonly used—such as holograms on bank notes and passports—but there is always a need for new unfalsifiable technologies.

This is where research recently published in Applied Sciences comes into play. Led by a team of scientists from Oxford University, the University of Southampton, and Diamond Light Source, the UK’s national synchrotron, the work focuses on developing a new technology for writing and reading covert information on labels.

This technology leverages the unique properties of Ge2Sb2Te5 thin films, which can change their structure when exposed to specific types of laser light. By using circularly or linearly polarized laser light, the researchers can encode hidden information in these thin films. This information can then be revealed using a simple reading device, making the technology both advanced and accessible.

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🚀 Q: How will Jared Isaacman’s background influence NASA’s future direction? A: Isaacman’s experience as a business leader, philanthropist, pilot, and astronaut will drive NASA towards a bold era of space economy development, focusing on groundbreaking achievements in space science, technology, and exploration.

🌠 Q: What is Isaacman’s vision for NASA’s mission? A: He aims to pursue a thriving space economy, transforming humanity into a space-faring civilization with breakthroughs in manufacturing, biotechnology, mining, and potentially new energy sources.

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Froilan Mendoza is Founder & Chief Technology Officer of Fulcrum Solutions.

Small businesses are the backbone of the U.S. economy. They represent 99.9% of all businesses in the country, account for 43.5% of GDP and employ almost half of the U.S. workforce. Yet small business owners have always had to overcome obstacles to survive and succeed. Lack of capital is responsible for 38% of small business failures. Labor costs make up 70% of their expenses, and a national labor shortage of 2 million workers is exacerbating the difficulty of hiring and keeping talent.

The good news is that AI is leveling the playing field for small businesses, giving them easy-to-use tools to optimize their processes and scale their organizations without huge teams or budgets. A 2024 study from the U.S. Chamber of Commerce found that 98% of small businesses are already using an AI-enabled tool, and 91% of owners say that AI will fuel future business growth. The use of generative AI tools, such as chatbots and image creators, grew by 40% in the last year.

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It was a moment three years in the making, based on intensive research and design work: On Sept. 5, for the first time, a large high-temperature superconducting electromagnet was ramped up to a field strength of 20 tesla, the most powerful magnetic field of its kind ever created on Earth.

The next step will be building SPARC, a smaller-scale version of the planned ARC power plant. The successful operation of SPARC will demonstrate that a full-scale commercial fusion power plant is practical, clearing the way for rapid design and construction of that pioneering device can then proceed full speed.

Zuber says that “I now am genuinely optimistic that SPARC can achieve net positive energy, based on the demonstrated performance of the magnets. The next step is to scale up, to build an actual power plant. There are still many challenges ahead, not the least of which is developing a design that allows for reliable, sustained operation. And realizing that the goal here is commercialization, another major challenge will be economic. How do you design these power plants so it will be cost effective to build and deploy them?”

Someday in a hoped-for future, when there may be thousands of fusion plants powering clean electric grids around the world, Zuber says, “I think we’re going to look back and think about how we got there, and I think the demonstration of the magnet technology, for me, is the time when I believed that, wow, we can really do this.”

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