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The World Press Photo Contest has updated its entry rules to exclude submissions for AI-generated imagery, just days after announcing that such images could be entered into its Open Format competition category. The World Press Photo Foundation initially said it would welcome AI-generated submissions — a decision met with immediate backlash from photojournalists who said allowing artificially created images into a contest for photojournalists responsible for documenting real-world events was “anathema to everything our industry does.”
The foundation has since rolled back its new AI submission guidance and updated contest rules to bar AI-generated images from its Open Format category. “Thanks to the honest and thoughtful feedback over the past days, we have decided to change the rules for the Open Format category in our contest to exclude AI generated images,” said the World Press Photo Foundation in a statement published on its website on Monday. “Both generative fill and fully generated images will be prohibited in the Open Format category (as was already the case in the other categories: Singles, Stories and Long-Term Projects).”
AI-generated images have never been eligible for submission to the prestigious World Press Photo of the Year contest.
The rules for image manipulation of photos “made by a lens-based camera” have also been updated to provide greater clarity on what constitutes an AI-generated image. Light changes like denoising, automatic adjustments (for example, on levels, colors, contrast), and object selection are listed as acceptable examples of AI editing tools, the extent of which will be decided by the contest organization and a global jury. Tools based on generative AI models that introduce new information to enlarge and sharpen images, such as Adobe Super Resolution and Topaz Photo AI, are not permitted.
To help clarify what a photograph is in the age of AI, the World Press Photo Foundation has also helped develop a “set of clear ethical standards” alongside photojournalism institutions, visual journalists, and “editors with interest and expertise in the topic.” They’re meant to ensure that photographs are “fair and accurate representations of what the photographer witnessed” and not produced in a way that misleads the public.
AI technology is being increasingly featured in cameras and editing software, so it’s easy to understand why the World Press Photo Foundation is trying to firm up its submission guidelines. Plenty of apps like Adobe Photoshop and Lightroom feature AI-assisted editing tools designed to make life easier for photographers by automating boring, labor-intensive tasks like masking objects or refining hair details. And increasingly, AI powers the imaging systems on modern smartphones, with Google’s new Magic Editor and Best Take features used to differentiate the Pixel 8.
With AI so thoroughly embedded in the photography pipeline, the World Press Photo Foundation’s guidelines for defining what level of AI manipulation is permissible for a real photograph is a welcome attempt to place a greater divide between AI “art” and photojournalism.
In the ever-evolving landscape of wealth management, young billionaires are forging their own, distinct path to growing their riches. They are seeking out investment opportunities in alternative avenues that encompass a range of options including real estate, start-ups and passion projects.
Not for them those conventional options of equities and fixed deposits. These individuals are diversifying their investment portfolios across a spectrum of sectors and are exploring opportunities that go beyond traditional products and even national boundaries.
Alok Saigal, President and Head of wealth management firm Nuvama Private, is seeing this change firsthand. He says young ultra-high-net-worth individuals (UHNIs)—those whose wealth is valued at over $30 million—have a very different approach to investing compared with their forebears. “They are seeking investment opportunities beyond conventional wealth management products like mutual funds, PMS (portfolio management services), bonds, and stocks. They are also keen on opportunities beyond domestic frontiers and manage currency and geographic risk efficiently—since they consider themselves global citizens,” he says.
Start-ups
One bandwagon appears to be investments in the start-up space. Young start-up founders who have turned billionaires are giving back to the ecosystem that brought them these riches, increasingly deploying their capital and expertise in other start-ups. Entrepreneurs discern the value of diversifying their portfolios. They often seek opportunities that resonate with their industry knowledge, enabling them to harness their insights and networks.
Kunal Shah, the 40-year-old Founder and CEO of fintech company Cred, is one such example. He said at a recent event that he has invested in around 80 fintech start-ups, typically committing an average of $50,000 in each. “I do not have any mutual funds or stocks; my investments are entirely focussed on start-ups as a way to give back. The primary motivation is not financial returns but rather contributing to the advancement of the ecosystem,” he said during a discussion on CNBC-TV18 at the Global Fintech Fest 2023. According to research firm Tracxn, Shah has provided early support to several fintech enterprises, including payments firm Razorpay and crypto asset app CoinSwitch.
Others, too, like the founders of Indian unicorns Zerodha, Paytm, and Zomato, have dabbled with investments in the Indian start-up ecosystem.
Typically, these investments are directed towards early-stage start-ups, often in the seed or Series A stages. “In such scenarios, investors anticipate returns ranging from 2x to as much as 10x of their initial investment within a couple of years. Co-investing with fellow founders or collaboratively establishing their funds is also a prevalent practice,” remarks Saigal.
Passion of the Rich
Increasingly, young billionaires are turning towards non-traditional “passion” investments that comprise collectible assets like fine art, vintage cars, yachts, and wine. These investments, while providing aesthetic and emotional satisfaction, also have the potential to yield impressive returns.
Art, though not a mainstream spending avenue, does interest a segment of young UHNIs.
Nikhil Kamath, the 37-year-old Co-founder of discount stock broker Zerodha and wealth management company True Beacon, believes Indian art will substantially appreciate in the years to come. He is actively researching this segment as an asset class and is particularly optimistic about the potential of acquiring works by acclaimed artists like F.N. Souza, Tyeb Mehta, or S.H. Raza, which he sees as having significant upside.
“Young billionaires enjoy art, and many of them are buying art to enjoy it, while few are looking at it as an investment avenue. But it turns out to be an excellent investment option, and the prices of works of art by Indian artists have gone up as there is a huge demand out there,” says Himanshu Kohli, Co-founder of Client Associates, a Gurugram-based private wealth management firm.
Having said that, in what is perhaps a reflection of their age and social consciousness, impact investing and strategic philanthropy have also joined the conversation. Adds Sapna Narang, Managing Partner at Capital League, a Gurugram-based all-women boutique wealth management firm, “Discussions around impact investing and strategic philanthropy are also on the rise, with some individuals discussing aligning their social and environmental goals with their investment objectives.”
Luxury Villas and more
Of course, not all traditional markers of wealth have been shunned—definitely not real estate. Consider this: Earlier this year, Neha Bagaria, the Founder and CEO of Herkey (formerly JobsForHer), 42, bought an apartment in the upscale Malabar Hill area in Mumbai for a cool Rs 121 crore.
Indeed, real estate consultancy CBRE South Asia says there has been a surge in demand for luxury homes —those that have a price tag of Rs 4 crore and above. It says luxury home sales in India have jumped a remarkable 130 per cent year-on-year in the first half of 2023 to 6,900 units from 3,000 in 2022.
“Weekend houses, big villas, farmhouses, or bigger apartments are the big preferences for these UHNIs, as they like working from anywhere. We know a lot of our clients who have bought expensive properties outside India in places like Dubai and London,” says Kohli. He says these upwardly and geographically mobile individuals shuttle between the Delhi-NCR region and Goa and Dubai.
Besides, these wealthy individuals are spreading their bets even among foreign real estate markets. Many factors underpin this trend, including the desire to provide a residence for children studying abroad and prestige. “Overseas homes are also gaining popularity, as they offer diversification and, in some cases, the prospect of acquiring citizenship or residency rights, aligning with the broader trend of global investment diversification in the real estate sector,” says Narang.
For instance, in Portugal, purchasing property priced above a certain threshold or acquiring real estate in Dubai grant individuals the chance to obtain permanent residency in those countries.
Equity markets, too, remain an attraction. “Since these founders are astute individuals, they have a strong inclination to gain exposure to direct secondary market equities. This aligns with their desire for hands-on involvement and control in the selection and management of their investments,” says Saigal. He adds that they’re also showing interest in platforms that facilitate investments in baskets of exchange-traded securities.
Clearly, the young and wealthy have realised post Covid-19 that uncertainty is unavoidable and every day is important, which is reflected in their diverse approaches to investment.
@teena_kaushal
CUEN – Cuentas Unveils State-of-the-Art Disaster-Resilient Buildings in Florida, tapping into a $2.1 Trillion Market to Reshape Real Estate’s Future
Cuentas Casa, the building division of the company has completed of its first ninety-six-unit multifamily development, utilizing groundbreaking construction technology, marks a significant departure from traditional methods and heralds a new era in building design
Revolutionizing the real estate landscape, Cuentas, Inc. (Nasdaq: CUEN & CUENW) is thrilled to announce a groundbreaking milestone in innovation. The company proudly revealed a state-of-the-art multifamily building using natural disaster-resilient building technology. This cutting-edge development marks CUEN as a leader in pioneering resilient infrastructure, ensuring a safer and more secure future for homeowners in the United States, and demonstrating its steadfast dedication to providing affordable, sustainable, and reliable housing solutions.
MIAMI BEACH, FL, Nov. 21, 2023 (GLOBE NEWSWIRE) — Cuentas, Inc. (Nasdaq: CUEN & CUENW), the foremost developer of fully integrated cybersecurity, telecommunications, and financial applications for the unbanked and underbanked Hispanic market, has released a management update highlighting the use of a pioneering construction method, reminiscent of interlocking LEGO bricks. This method forms entire structures engineered to withstand natural disasters, boasting top-tier ratings for hurricane and earthquake resistance. This marks the initial phase of Cuentas’ visionary goal to revolutionize housing affordability through innovative construction practices.
In a significant management update, Mr. Arik Maimon, CEO of Cuentas, shared insights into the company’s triumphant foray into real estate investments and the strategic alliance with RENCO. The completion of its inaugural ninety-six-unit multifamily development using revolutionary construction technology represents a departure from traditional methods.
This milestone has garnered extensive media coverage, with a special focus on core products manufactured with naturally occurring raw materials and recycled products in an environmentally friendly process. A video coverage by a leading US news outlet showcases the Lakewood Village project, highlighting its versatility, departure from traditional materials, efficient construction, and cost-effectiveness. A video of the completed project and the use of the technology is available at: Cuentas Real Estate.
Lakewood Village Project
Renco USA, a Florida-based company with nine patents, has developed a state-of-the-art structural building system comprising interlocking composite building units. These units join to form monolithic structures, are cost-effective compared to traditional materials, are self-supporting, lightweight, and environmentally friendly. Cuentas has secured a ten-year agreement to leverage Renco’s technology, solidifying a strategically tight partnership for joint project development. A copy of the announcement can be found here: Cuentas and Renco Supply Agreement
In a significant move, management has invested in a 26-acre property in Tampa, Florida, and is planning a collaborative three hundred sixty-unit complex, branded Cuentas Casa. This investment underscores Cuentas’ commitment to sustainable, environmentally resilient, and durable construction, with a remarkable 63% equity participation in the project.
Mr. Maimon, CEO, emphasized, “The investments in Lakewood Village and our new project in Tampa stand as a testament to our management’s visionary approach and the strategic selection of this groundbreaking building technology. Our commitment to expanding Cuentas into the lucrative rental income real estate sector is bolstered by the cost-effectiveness and rapid construction capabilities of Renco’s technology, ensuring the provision of affordable and quality housing.”
Cuentas continues to excel in delivering strategic technology solutions within sectors that provide essential services to the general public, enhancing people’s lifestyles. This revolutionary leap forward signifies our commitment to redefine the way we envision, construct, and interact with the spaces that shape everyday life.
Looking ahead, Cuentas is poised to seamlessly integrate future resident services, including Cuentas Mobile, Cuentas Fintech, Cuentas Casa, secure financial services, and business and personal cybersecurity applications, creating a holistic and innovative living experience for our residents.
About Cuentas
Cuentas, Inc. (Nasdaq: CUEN & CUENW) is creating an alternative financial ecosystem for the growing global population who do not have access to traditional financial alternatives. The Company’s proprietary technologies help to integrate FinTech (Financial Technology), e-finance and e-commerce services into solutions that deliver next generation digital financial services to the unbanked, under-banked and underserved populations nationally in the USA. The Cuentas Platform integrates Cuentas Mobile, the Company’s Telecommunications solution, with its core financial services offerings to help entire communities enter the modern financial marketplace. Cuentas has launched its General Purpose Reloadable (GPR) Card, which includes a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content. In Q1 of 2023 Cuentas launched Cuentas Casa, an alternative housing development initiative that secured a 10-year supply agreement for a patented, sustainable building system that will provide the bridge between its technology solutions and the affordable housing market. Cuentas has made investments to date in affordable housing projects for over 450 apartments. LINK: https://cuentas.com AND https://cuentasmobile.com
Forward-Looking Statements
This news release contains “forward-looking statements,” as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. These forward-looking statements involve substantial uncertainties and risks and are based upon our current expectations, estimates and projections and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including, but not limited to, Nasdaq and shareholder approval of the proposed transaction, our ability to manage our research and development programs that are based on novel technologies, our ability to successfully integrate WHEN operations and product offerings, the sufficiency of working capital to realize our business plans and our ability to raise additional capital, market acceptance, the going concern qualification in our financial statements, our ability to retain key employees, our competitors developing better or cheaper alternatives to our products, risks relating to legal proceedings against us and the risks and uncertainties discussed under the heading “RISK FACTORS” in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
Contack Information:
Arik Maimon
CEO at Cuentas Inc
Cuentas Inc. (NASDAQ: CUEN)
Phone: 800-611-3622
Mobile: 786-774-2835
Web: www.cuentas.com
Email: [email protected]
Insta360 announced the Ace and Ace Pro, two new action cameras that were co-engineered with Leica and promise to bring incredible image quality powered by blending hardware with computational photography driven by artificial intelligence.
The flagship Ace Pro houses what Insta360 calls an industry-first Type 1/1.3 image sensor capable of shooting video at up to 8K at 24 frames per second (fps), 4K at 120 fps, and can capture 48-megapixel photos. It also brings a “vlogging-friendly” 2.4-inch flip touchscreen to provide live preview and camera control. The whole unit is housed in a rugged body that is waterproof down to 33 feet (up to 196 feet with the dedicated Dive Case). It can also be PD fast charged to 80% in 22 minutes and fully in 46 minutes.
The Ace is what Insta360 calls the “budget-friendly” option, with the key differences being a smaller Type 1/2, 48-megapixel sensor, a standard non-Leica lens, and standard charging.
Insta360 says its packed with AI-powered features, too, like the ability to control it with voice or gestures as well as a new AI Highlights Assistant and custom-keyword based AI Warp feature that it says will transform the shooting and editing experience.
Insta360 says that the size of the sensor in the Ace Pro sets it apart from the competition as it captures more light and has more dynamic range than is typical of a camera of this style and size. That, mixed with the lens that was co-engineered with Leica, gives it an edge — especially in low light conditions.
Insta360 also has a dedicated shooting mode for low light called PureVideo. Using an onboard 5nm AI chip, the Ace and Ace Pro cameras use a custom-trained AI neural network to denoise the footage for a clearer image in real time, Insta360 claims. Combined with the large sensor and stabilization, which also works even at night, the company says that filmmakers can expect performance that is good enough to handle everything from a twilight stroll to late-night urban shooting.
When lighting conditions are more ideal, the two cameras have Insta360’s Active HDR that brings more details in the highlights and shadows. Colors are also more vibrant, but the company says it put a lot of emphasis on accuracy so that they don’t appear over-tuned. The promise of accuracy even extends to the use of the cameras under water.
AI is also at the core of overall image quality on the Ace and Ace Pro. Insta360 says its team trained the onboard computational photography models that underpin the 48MP Photo Mode and 4K 30fps PureVideo based on the cameras’ unique lens and sensor data. The company is so confident that it enhanced the signal-to-noise ratio and dynamic range in low light that the results surpass all other action cameras on the market.
Insta360 added a set of features that it says directly address complaints it and other users have with the other action cameras on the market.
It has Clarity Zoom, which allows the Ace Pro the ability to get 2x zoom in and out without any loss in quality of footage. It also has gesture control use hand signals to start/stop recording or take a photo — it also supports voice control. If a recording isn’t right, users can instantly cancel it and retake the shot, saving space on an SD card and preventing need to dig through unneeded files later. Related, the cameras have a pause/resume feature that lets users stop a recording in one place and restart it in another but keeps the take as a single clip to make file management easier. Finally, the Ace and Ace Pro support photo grab, which allows users to film a video but also capture a photo at the same time. While not at the full 48-megapixel resolution, it is captured at a higher resolution than a simple screen grab from the video clip would be.
Another major new addition is what Insta360 calls AI Highlights Assistant.
“We like to make shooting as easy as possible, but every creator knows that feeling of looking at an intimidating number of files and not knowing where to start. Enter the revolutionary new tool, AI Highlights Assistant,” Insta360 says.
“First, it automatically detects the peak moments in a video, and delivers ‘clip highlights’ for in-camera review. Creators can merge every thrilling moment into one incredible recap, or choose the ones they like, and quickly delete any unwanted clips to save storage.”
The Assitant is also able to edit a video automatically and send it directly to a phone or other mobile device through the Insta360 app. If an editor wants a more hands-on edit, that same app is loaded with a ton of AI editing tools. One of these is AI Warp, a new tool that, through preset or custom keywords, editors can add dynamic effects to their videos.
“This premium AI feature is highly customizable, giving your footage an incredibly unique twist based off of any prompt you can think of,” the company says. It also, of course, supports timelapses, hyperlapses, and a selfie-stick eraser — all features that have come to previous Insta360 cameras.
It doesn’t end there. Both cameras integrate with a Garmin or Apple Watch and allow users to overlay their videos with GPS, speed, and other data.
The Insta360 Ace and Ace Pro are available starting today for $380 and $450, respectively.
The three finalists for the Photograph of the Year award have been selected, with less than a month to go until the World Athletics Awards 2023.
From the 134 images that were submitted, a panel of judges – comprising Valerie Adams, Raquel Cavaco Nunes, Joel Marklund, Pascal Rondeau and Blanka Vlasic – narrowed the entries to 10 shortlisted images before deciding on the three finalists.
Photographers from 47 countries across all six continental areas submitted entries.
The shortlisted images will form part of a digital exhibition on the World Athletics website that will go live later this month.
The winning photograph will be announced on World Athletics’ platforms in early December, as part of the World Athletics Awards 2023.
Alexis Holmes of USA, left, on her way to winning the mixed 4x400m as Femke Bol of Netherlands falls at the World Athletics Championships Budapest 23 (© Sam Barnes / Sportsfile)
Gianmarco Tamberi of Italy winning gold in the high jump at the World Athletics Championships Budapest 23 (© Anton Geyser, South African Sports Images)
Leo Neugebauer of Germany in the decathlon pole vault at the World Athletics Championships Budapest 23 (© Mattia Ozbot, World Athletics Photography Workshop)
Sam Barnes
An award-winning sports photographer currently based in Dublin, Ireland, working as full-time staff for Irish agency Sportsfile. Originally from Reading, UK, Barnes has been based in Dublin for almost 10 years and has covered a broad range of sporting events including multiple World and European Athletics Championships, and the Tokyo Paralympic Games. His work was also shortlisted for the Photograph of the Year award in 2022.
Anton Geyser
A passionate and dedicated sports photographer, Geyser has covered a wide range of events, from grassroots competitions to international championships, and has contributed work to renowned sports publications and websites. Committed to mentoring aspiring sports photographers, he also often uses his photography to support charitable causes related to sports and youth development.
Mattia Ozbot
A freelance photographer based in Milan, Ozbot specialises in sports photography and has a passion for capturing all the emotions sports can bring. In 2023 he was selected for the inaugural World Athletics Photography Workshop, held during the World Athletics Championships Budapest 23.
World Athletics
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Art Basel Hong Kong returns to full scale with a 2024 edition featuring 242 premier international galleries and a vibrant program both within and beyond the Hong Kong Convention and Exhibition Centre (HKCEC)
Art Basel today announced the list of 242 leading international galleries selected for its 2024 Hong Kong show. This represents a return to pre-pandemic numbers, with an additional 65 exhibitors joining the fair compared to 2023. Galleries from 40 countries and territories across Asia, Europe, North and Latin America, the Middle East, and Africa will present artworks of the highest quality spanning all market segments, from 20th-century masters to established contemporary artists and today’s most exciting emerging voices.
25 international galleries known for their engaging program will join the fair for the first time: Station (Melbourne, Sydney), Tim Van Laere Gallery (Antwerp, Rome), Almeida e Dale Galeria de Arte (São Paulo), Mangrove Gallery (Shenzhen), Hua International (Berlin, Beijing), Fitzpatrick Gallery (Paris), Galerie Zink (Seubersdorf in der Oberpfalz), Gallery 1957 (Accra, London), Galleria Massimo Minini (Brescia), Waitingroom (Tokyo), Morán Morán (Los Angeles, Mexico City), Hafez Gallery (Jeddah), PTT Space (Taipei), Each Modern (Taipei), Public Gallery (London), Alison Jacques
(London), YveYang (New York), Bortolami (New York), Nonaka-Hill
(Los Angeles), Rodeo (London, Piraeus), Dvir Gallery (Brussels, Paris, Tel Aviv), Chini Gallery (Taipei), √K Contemporary
(Tokyo), Linseed (Shanghai), and Chapter NY (New York).
68 galleries will return to Art Basel’s fair in Asia after a brief hiatus, including established international names such as: Galerie Lelong & Co. (Paris, New York), Lisson Gallery (Beijing, Shanghai, London, Los Angeles, New York), Matthew Marks Gallery (Los Angeles, New York), Miguel Abreu Gallery (New York), Regen Projects (Los Angeles), Sprüth Magers (Berlin, London, Los Angeles, New York), Tanya Bonakdar Gallery (Los Angeles, New York), Galleria Franco Noero (Turin), Acquavella Galleries (New York, Palm Beach), Galleria d’Arte Maggiore G.A.M. (Bologna, Rome, Venice), Annely Juda Fine Art (London), Modern Art (London), kurimanzutto (Mexico City, New York), and Galerie Eva Presenhuber (Zurich, Seoul, Vienna).
Major galleries from Brazil will also make a comeback: Gomide & Co (São Paulo) and first-time participant Almeida e Dale Galeria de Arte (São Paulo) for a joint presentation, and Mendes Wood DM (São Paulo, Brussels, New York, Paris).
Once again, the show will provide an unparalleled and dynamic overview of artistic production across the Asia-Pacific region, from historical rediscoveries to work by contemporary practitioners. More than half of all exhibitors operate spaces on the continent. In addition to a strong presence of galleries from Hong Kong SAR, Mainland China, South Korea, Japan, and Taiwan, notable galleries from Australia, New Zealand and India will showcase their program, including: Sullivan+Strumpf (Melbourne, Sydney), Fine Arts, Sydney (Sydney), Station (Melbourne, Sydney), Fox/Jensen (Auckland), Experimenter (Kolkata, Mumbai), Vadehra Art Gallery (New Delhi), Tarq (Mumbai), and Jhaveri Contemporary (Mumbai).
Angelle Siyang-Le, Director, Art Basel Hong Kong, said: “Art Basel Hong Kong is excited to announce our 2024 edition, returning in full scale with a warm welcome to exhibitors from around the world, including the 68 galleries that had taken a hiatus and 25 newcomers. Our goal is to connect guests from all around the world in our home, Hong Kong, by offering possibilities of collaboration and innovation inspired by art and artists. As the key strategic cultural hub in Asia and Asia Pacific, the city plays an important role, more than ever, in bridging the evolving art landscape across regions.”
Download the full press release here.
