- Skip Disney World. Take a vacation to space
- The EU gets serious on AI regulation
- Visit the doctor without ever leaving your home…
Dear Reader,
First, I wanted to remind readers about an event I think they will truly enjoy.
Tonight at 8 p.m. ET, forex trading legend Andy Krieger will be hosting his first-ever online investing event. For those of us who don’t know, Andy Krieger is the trader who “broke the Kiwi” in 1987. Andy made $300 million on this single short trade against the New Zealand dollar.
After more than 30 years, Andy is getting ready to place another big trade later this year. And he’s asking traders to join him.
If that sounds interesting, then you can get the details for yourself right here.
SpaceX enters the space tourism game…
As I was putting the finishing touches on yesterday’s issue of The Bleeding Edge, a little news flash came across my iPhone. I knew immediately it could have huge implications for the future of space tourism…
It has to do with a company called Space Adventures, a leader in space tourism. The company has completed eight successful missions in which it took wealthy individuals up to the International Space Station (ISS) for a week-long vacation.
The price tag? $20 million or more.
So Space Adventures has a track record of safety when it comes to commercial space tourism. But the high price tag has meant these trips have been reserved for the ultrawealthy. I believe that could be changing.
The news is that SpaceX is partnering with Space Adventures to provide commercial rides on its Crew Dragon spacecraft.
These flights won’t go to the ISS, but they will take customers to amazing altitudes. The plan is for these flights to go twice as high as any prior civilian astronaut mission. And that will provide customers with views like these:
Views of Earth From Space
Source: Space Adventures
The first flight could happen as early as late next year. It will consist of four private citizens. And the two companies hope that this historic mission will “forge a path to making spaceflight possible for all people who dream of it.”
SpaceX has not released information on pricing yet. But thanks to its reusable rockets, which we discussed yesterday, the price tag will be far lower than that of past Space Adventures’ ISS packages. I’m sure it will still be a seven-figure price tag, but it will be a fraction of what the earlier trips cost.
This is the dawn of space tourism. And consumers now have not one, not two, but three ways to get to space (Blue Origin, Virgin Galactic, and now SpaceX).
In the very near future, we’ll have to decide: Do we take the family to Hawaii this summer? Or to space? It won’t be long before we’ll see headlines like “The First Family to Space.”
There is simply no historical precedent for this. What an amazing time to be alive.
The EU’s proposal to regulate AI…
Big news out of Brussels… The European Union (EU) has revealed a plan to regulate artificial intelligence (AI). It was bound to happen…
And somewhat coincidentally, Elon Musk himself announced pretty much the same.
The issue surrounds AI being too powerful to use without some kind of framework. Musk founded a nonprofit called OpenAI to address that exact issue, but it was inevitable that policy makers would get involved.
The nuance lies in the “black box” nature of some AI. Data goes in and a conclusion comes out, but we don’t know exactly why an AI made the decision or came to the conclusion that it did.
Many are concerned that an AI could use slanted data or discriminate. And, of course, there is the likely potential of AI misuse for intrusion of privacy or criminal applications.
In its white paper, dated February 19, the commission acknowledged that AI is one of the most important technologies in development today.
The commission stated that AI will improve daily life in ways we can only imagine… from improving health care to making farming and industrial production more efficient, increasing security, and helping to mitigate climate change.
To combat these risks, the commission laid out a plan proposing more than 70 joint actions. This will entail close cooperation between EU members and the commission. And this cooperation spans key areas including AI research, investment, market uptake, skills and talent, and international cooperation.
The EU hopes that such a comprehensive regulatory framework will stimulate the development and adoption of AI in Europe. And it believes it could attract over €20 billion in investment over the next decade.
The proposed plan will be put to EU members for adoption this year. It will run through 2027, with regular monitoring and review.
Unfortunately, I suspect that the resulting policy will severely lack protections for consumers. A much earlier draft had some protections against the pervasive use of video surveillance and facial recognition across the EU. Those protections have been removed in the latest draft.
Using powerful technology in an ethical way will be one of the biggest challenges humanity will face in the years ahead. Developing ethical frameworks will be the difference between technology freeing humanity… or subjugating it.
My strong preference is for industry organizations and nonprofits to lead the way with these initiatives, but policy makers can’t seem to resist the opportunity for more power and control.
The world’s first VR health therapies…
We’ll conclude today with exciting news in the world of virtual reality (VR)…
Early stage company XRHealth just announced the world’s first VR “telehealth” clinic that will provide VR-based health care and therapies to patients. Telehealth refers to health care provided remotely. Here’s how it works…
Right now, XRHealth’s therapeutic software can treat patients suffering from brain and spinal cord injuries, stroke, neurological disorders, stress, anxiety, memory decline, and chronic pain.
For these patients, XRHealth’s telehealth clinicians will provide an initial assessment over the phone or via video chat. Then, XRHealth will ship qualifying patients a VR headset. And it will teach them how to use the prescribed therapeutic software.
There are software applications for upper extremity, neck, and shoulder rehab. There are applications for cognitive training to improve reaction time, memory span, and executive functions. Imagine playing something that looks like a game and is designed to help improve cognitive functions or elicit specific movements of the body for the purpose of rehabilitation.
As patients progress through their prescribed therapies, the clinicians will monitor their activity and provide ongoing telehealth counseling.
This is a revolutionary application for VR. And it demonstrates the power of the rising telehealth trend.
And just to be clear, these therapies are Food and Drug Administration (FDA) approved in the U.S. and CE Mark registered in the EU. And they are covered by Medicare and most major insurance providers.
Why is this such an important development?
In a survey published in The Journal of General Internal Medicine, participants were asked why they avoid seeking regular medical care. Two of the biggest reasons were the high cost (24.1% of respondents) and time constraints (15.6%).
Telehealth solutions address both these concerns. They will be cheaper than traditional treatments. And because therapies can be undertaken in the patients’ homes, they will work with patients’ schedules.
For the first time in history, patients can go to a virtual clinic for rehab and therapy without ever needing to leave their homes.
Regards,
Jeff Brown
Editor, The Bleeding Edge
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