India Uses AI To Stop Stampede | TikTok Restores Service | Inflation Fight More Complicated

Market Update

• Trump launches surprise meme coin just before inauguration and price soars.

• Perplexity AI bids to merge with TikTok US, source says.

• Traders boost bets on US Dollar strength ahead of Trump’s return.

• US Treasury to launch measures to avoid debt limit breach on Tuesday.

• EV startup Canoo files for bankruptcy, to cease operations.

• Starbucks will cut jobs as part of turnaround effort.

• US awards Moderna $590 million for bird flu vaccine development.

India uses AI to stop stampedes at world's biggest gathering

Artificial Intelligence Deployment: Authorities have introduced AI technology to estimate crowd sizes and prevent stampedes during the Kumbh Mela festival.

Surveillance Infrastructure: Approximately 300 cameras and drones have been installed to monitor the festival site and surrounding areas.

Historical Significance: The Kumbh Mela festival, one of the world's largest religious gatherings, has a history of deadly stampedes due to massive crowd sizes.

Real-Time Monitoring: A command and control room equipped with screens and AI algorithms helps officials track crowd density and flow, raising alarms when necessary to ensure safety. [Learn more]

TikTok restores service in US, thanking Trump

TikTok Shutdown: TikTok went dark in the U.S. on Sunday, just before a law banning the app took effect.

Trump's Intervention: President-elect Donald Trump indicated he would work on a solution to reinstate TikTok once he takes office.

National Security Concerns: The ban was enacted due to concerns over TikTok's ties to its China-based parent company, ByteDance, and potential national security risks.

Impact on Users: The shutdown affected millions of American users, who scrambled to find alternatives and expressed their frustration on other social media platforms. [Learn more]

Trump makes the Fed's challenging inflation fight more complicated

Inflation Concerns: The Federal Reserve is worried that President-elect Donald Trump's proposed policies, such as high tariffs and tax cuts, could increase inflation.

Economic Projections: The Fed's updated economic forecasts predict core inflation to rise to 2.5% next year, higher than previously expected.

Tariff Impact: Trump's plan to impose tariffs on trading partners, including China, Mexico, and Canada, is seen as a potential inflation driver.

Interest Rate Challenges: The Fed may face difficulties in managing interest rates due to the inflationary pressures from Trump's policies. [Learn more]

Trivia of the Day!

The shortest war in history was between Britain and Zanzibar on August 27, 1896. It lasted between 38 and 45 minutes.

Generative AI Photo of the Day!