Daily Business Report: June 23, 2023
Visual Capitalist Artificial Intelligence: The Journey to a Thinking Machine
By Chris Dickert — Graphics & Design by Sabrina Fortin
The language model ChatGPT reached 100 million active monthly users in just two months, making it the fastest-growing consumer application in history. Meanwhile, Goldman Sachs predicted that AI could add 7 percent to global GDP over a 10-year period, almost $7 trillion, but also replace 300 million jobs in the process.
But even as AI continues to disrupt every aspect of life and work, it’s worth taking a step back.
In this visualization, the first in a three-part series called The AI Revolution for sponsor VERSES AI, we ask how we got here, where we’re going, and how close are we to achieving a truly thinking machine?
Milestones to Mainstream
The term “artificial Intelligence” was coined by computer scientist John McCarthy
in 1955 in a conference proposal. Along with Alan Turing, Marvin Minsky, and many others, he is often referred to as one of the fathers of AI.
Since then, AI has grown in leaps and bounds. AI has mastered chess, beating Russian grandmaster and former World Chess Champion Garry Kasparov in 1997. In 2016, Google’s AlphaGo beat South Korean Go champion Lee Sedol, 4-1. The nine-year gap in achievements is explained by the complexity of Go, which has 10360 possible moves compared to chess’ paltry 10123 combinations.
DALL-E arrived in 2021 and ChatGPT-4 in early 2023, which brings us to today.
NASA about to put four volunteers inside
a simulated Mars habitat for an entire year
Four volunteers are about to enter a simulated Mars habitat where they’ll spend the next 378 days as part of preparations for the first crewed mission to the faraway planet.
The specially designed 1700-square-foot habitat at NASA’s Johnson Space Center in Houston, Texas, will host Kelly Haston, Ross Brockwell, Nathan Jones, and Alyssa Shannon from Sunday, June 25. The team’s experience spans science, engineering, and health, and each member will use their specific skills during their stay.
The four participants will experience many of the challenges likely to be faced by a human mission to Mars, including confinement, communication delays (up to 20 minutes one way), resource limitations, equipment failures, and other environmental stressors, NASA said.
The health and performance of the volunteers will be monitored throughout their time in the habitat to give mission planners a clearer idea of how a crew might handle various aspects of a long-duration mission to the red planet.
Besides living quarters that include bedrooms, a gym, and a common area, there’s also an outdoor area with red sand where the participants will don spacesuits for simulated “Marswalks.”
Tourist spending in San Diego sets new record
Tourists in San Diego are spending more than they ever have — a record $13.6 billion in 2022 — even as the number of visitors has yet to rebound to levels seen before the pandemic arrived more than three years ago. Credit longer overnight stays and inflation — including higher room rates and more expensive meals out — concludes a newly released report from the San Diego Tourism Authority.
The latest numbers are something of a surprise, considering they easily blew past a 2021 forecast that said visitor spending wouldn’t eclipse annual, pre-pandemic expenditures of $11.6 billion until at least 2024. And even then, the total annual sum spent on such things as hotel stays, dining out, visits to theme parks and transportation would only reach $11.9 billion in 2024.
Landscape architects group invites
nonprofits to apply for grants
The San Diego chapter of the American Society of Landscape Architects invites local nonprofits to apply for their annual grant of up to $5,000 to design or construct landscape architectural improvements in locations such as parks, schools, and neighborhoods.
The 2023 Community Grant application is available on SDASLA’s website www.asla-sandiego.org/events or by emailing the chapter for information or a copy of the grant application. The application deadline is Aug. 17, 2023.
Any nonprofit community group recognized by the IRS and the Secretary of State is located in San Diego County and has been in continuous existence as a nonprofit group for a minimum of three years is eligible to receive the grant. Projects must prove that they have the support and involvement of their community and/or environmental interests within San Diego County, and applications must show a clear benefit to the wider community.
Child care providers ramp up campaign
CalMatters
The campaign to pay child care providers more — workers who are mostly women of color — is reaching a fever pitch as the union contract for 40,000 home-based providers expires at the end of June.
On the table? Union members are seeking a 25 percent bump in reimbursement rates, a bill that includes recalculating reimbursement rates and the inclusion of $1 billion in the state budget.
Belmont Park adds new ride and games
By Dave Schwab | sdnews.com
Turning 98 this year, Belmont Park is gearing up for its upcoming centennial celebration by debuting a new logo, signage, murals, website, and merchandise in July.
The oceanfront Mission Beach amusement park at 3146 Mission Blvd. has also made updates throughout the park including adding murals by local artists, improving ride experiences, adding new rides and food choices, opening a new escape room, and expanding its carnival-style games and arcade.
Of its park-wide re-branding, Belmont Park general manager Steve Thomas said: “It’s a new cool thing we’re launching this summer preparing for next year when we’ll have an elevated summer experience before our 100-year anniversary in 2025. We’ve taken an inside-out approach for the re-branding, unifying the park together with a vision for a world-class beach boardwalk entertainment destination in San Diego creating an authentic Southern California experience.”
Financial adviser team Nautilus Wealth
Management joins UBS in La Jolla
Financial advisers Gregg Palmer and Jason Kaimer of Nautilus Wealth Management Group have joined UBS’s La Jolla/San Diego office of the UBS Pacific Desert Market. They are joined by Client Service Associate Saba Lak.
Gregg Palmer has nearly three decades of experience working in the wealth management industry.
Prior to joining UBS, Palmer worked at First Republic for nearly 12 years where he held the titles of managing director and wealth advisor. Before that, he spent 16 years with Wells Fargo working with high-net worth families after beginning his financial services career with Nicolas Applegate Capital Management in San Diego.
Jason Kaimer has more than 30 years of experience working in financial services. He spent the past 24 years at First Republic, where he was Senior Managing Director and initially spearheaded the firm’s residential construction lending department, before transitioning into private banking and wealth management.
Saba Lak also joins from First Republic Bank, where she spent five years as a preferred banker. She was previously with Wells Fargo as a Personal Banker for nearly seven years. Saba has a Bachelor of Arts degree in Business Administration and Finance from San Diego State University
Sanket Agrawal joins 1859, a drug discovery
company, as chief executive officer
SAN DIEGO —1859, an AI-based small molecule drug discovery company advancing next generation medicines, announced the appointment of Sanket Agrawal as its chief executive officer, effective April 2023. As an experienced biopharma business leader, Agrawal joins 1859 to drive its next stage of growth and deliver on the company’s potential to rapidly discover superior molecules. The company has demonstrated its discovery engine capabilities through more than 15 partnerships with pharmaceutical, biotech, and academic organizations, yielding novel small molecule compound designs for multiple targets.
11:11 Systems announces new
case study with the City of Encinitas
ENCINITAS — 11:11 Systems, a managed infrastructure solutions provider, announced a new case study with the City of Encinitas. 11:11 Systems is a managed infrastructure solutions provider that holistically addresses the challenges of next-generation managed cloud, connectivity and security requirements. The 11:11 model empowers customers and partners to “Rethink Connected,” which includes integrated services that deliver increased performance, optimization and savings. Learn more at 1111Systems.com.
Biolinq and Taisho Pharmaceuticals
announce strategic collaboration
SAN DIEGO — Biolinq Incorporated, a medtech company that is developing novel biosensing technologies, has signed an exclusive license agreement with Taisho Pharmaceutical Co. Ltd., to commercialize a new generation of glucose monitoring products in Japan. Under the agreement, the companies will collaborate to obtain regulatory approval for intradermal glucose sensing products in one of the largest medical device markets in the world. As the leading OTC pharmaceutical company in Japan, Taisho’s brand recognition and commercial reach covers a large majority of the health clinics that provide care for people with diabetes.
Credit Union hosts July 6 Blood drive
SAN DIEGO — San Diego County Credit Union is hosting a blood drive on Thursday, July 6, at four SDCCU locations. Just one pint of blood can save up to three lives, and the SD Blood Bank must collect more than 350 units of blood per day to meet the needs of local patients. There is currently an extremely low inventory of blood. Hospital shelves are almost empty, and this short supply is affecting thousands of patients. To learn more about the San Diego Blood Bank or for more information, visit https://www.sandiegobloodbank.org/.
ATI acquires industrial property for $9.4 million
SAN DIEGO — ATI, a cross-border logistics company, has acquired a 36,475-square-foot industrial propergy at 1207 Air Wing Road in San Diego for $9.4 million. The building was built in 2005 and features 12 dock-high doors, 28-foot clear height. The property has a paved and secured yard for ample trailer storage and efficient transportation loading. CBRE’s Ramin Salehi, John Smith and Joe Smith represented the buyer. Linda Greenberg and Michael Giuliano of Lee & Associates represented the seller, RCJ Properties LLC.
SDG&E to reward customers with
bill credits for energy conservation
SAN DIEGO — San Diego Gas & Electric (SDG&E) is sharing summer energy savings tips and encouraging its residential customers to sign up for Power Saver Rewards, an energy savings incentive program that rewards customers with bill credits for reducing their electricity use on days when the statewide grid is stressed by high demand. Enrolled customers who conserved during the summer 2022 heat wave earned more than $11 million in bill credits. Tips on how to stay cool while keeping energy costs down are available at sdge.com/myenergy.
Sharp HealthCare named Network
of Excellence in Robotic Surgery
SAN DIEGO — Sharp HealthCare has been named a Network of Excellence in Robotic Surgery by Surgical Review Corporation (SRC), making Sharp the first Network of Excellence on the West Coast. This recognition was given to its five Centers of Excellence in Robotic Surgery, and includes all Sharp entities, nine different specialties and 30 Surgeons of Excellence candidates. SRC is an internationally recognized, nonprofit, patient safety organization and the leading administrator of quality improvement and accreditation programs for surgeons and hospital worldwide.
Creative City wants San Diego
residents’ input for cultural planning
San Diego has initiated a cultural planning process called Creative City to receive public and stakeholder input to create a new framework for a San Diego Cultural Plan. Over the next 18 months, San Diegans will be presented with multiple opportunities to weigh in on the formulation of the aspirations and goals of a future culture and creativity framework. A cultural plan to be developed will be a comprehensive, long-term blueprint to advance arts, culture, and creativity for the benefit of city residents as well as the greater Cali-Baja mega-region. Click here for more information
San Diego International Beer Festival
comes to the San Diego County Fair
DEL MAR — Beer aficionados will enjoy hard-to-find specialty craft brews alongside favorites from the local brewing scene at the San Diego International Beer Festival at the San Diego County Fair on Saturday, July 1. Tickets include unlimited sampling of suds, plus a 5-tab wristband to taste cocktails mixed with spirits from the Distilled Spirit & Cocktail Competition. Upgrade to a VIP Lounge ticket, and you’ll pair your beverages with food from five gourmet food stations and have access to a special Gold Medal-winning Beer Bar and more.
Survival Experience opens
at The Fleet Science Center
The Fleet Science Center in Balboa Park will hold a grand opening of “The Worst-Case Scenario: Survival Experience” on Saturday, July 1. This exhibit, based on the internationally acclaimed “The Worst-Case Scenario Survival Handbook” series, will transport visitors into a world of thrilling survival strategies and escape tactics. The exhibit is produced by Exhibits Development Group and developed by Geoffrey M. Curley + Associates in collaboration with Quirk Books. This exhibition is locally sponsored in part by the City of San Diego.
