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JPMorgan Loses $2 Billion as ‘Mistakes’ Trounce Hedges

JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon says the firm suffered a $2 billion trading loss after an “egregious” failure in a unit managing risks, jeopardizing Wall Street banks’ efforts to loosen a federal ban on bets with the

(BLOOMBERG) NEW YORK - The firm's chief investment office, run by Ina Drew, 55, took flawed positions on synthetic credit securities that remain volatile and may cost an additional $1 billion this quarter or next, Dimon told analysts yesterday. Losses mounted as JPMorgan tried to mitigate transactions designed to hedge credit exposure.

"There were many errors, sloppiness and bad judgment," Dimon said as the company's stock fell in extended trading. "These were grievous mistakes, they were self-inflicted."

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Robot Artists And Us: Who Decides The Aesthetics Of AI?

Ai-Da is touted as the first bonafide robot artist. But should we consider her paintings and poetry original or creative? Is this even art at all?

Ai-Da at work

Leah Henrickson and Simone Natale

Ai-Da sits behind a desk, paintbrush in hand. She looks up at the person posing for her, and then back down as she dabs another blob of paint onto the canvas. A lifelike portrait is taking shape. If you didn’t know a robot produced it, this portrait could pass as the work of a human artist.

Ai-Da is touted as the “first robot to paint like an artist”, and an exhibition of her work called Leaping into the Metaverse opened at the Venice Biennale.

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