
Bottom line: Travel documents are on the brink of a technological revolution as facial recognition systems become mainstream. But some countries are finding it tricky to strike a balance between convenience and privacy, as well as security and efficiency. In the coming years, the traditional paper passport, a document that has been a cornerstone of international travel for over a century, may soon become obsolete. In its place, facial recognition technology and smartphones are poised to become the new standard for identity verification at airports worldwide. This shift towards biometric identification is not a distant possibility but a rapidly approaching reality. Airports in numerous countries, including Finland, Canada, the Netherlands, the United Arab Emirates, the United Kingdom, Italy, the United States, and India, are already conducting trials of passport-free travel systems. Singapore, for example, allows its residents to enter and exit the country without physical passports, and is extending this convenience to departing foreign visitors. The drive to streamline the travel experience is driving this trend. Athina Ioannou, a lecturer in business analytics at the University of Surrey, notes that the Covid-19 pandemic has accelerated the adoption of contactless travel technologies. "It's probably going to become the mainstream way of traveling, as I understand, in the near future," Ioannou told Wired. At the heart of this technological shift is the concept of a Digital Travel Credential (DTC). Developed by the United Nations' International Civil Aviation Organization (ICAO), the DTC system comprises two key components: a virtual element representing the information traditionally stored in passport chips, and a physical part stored on the traveler's smartphone. These components are cryptographically linked to ensure authenticity and prevent forgery. The implementation of DTC systems varies, with some approaches still requiring travelers to carry – but not necessarily present – their physical passports, while more advanced versions aim to eliminate the need for a physical passport entirely. Early trials have shown promising results. In Finland, a small-scale DTC pilot conducted by border officials demonstrated that identity checks could be completed in just eight seconds, with technical processing taking only two seconds. While the prospect of reduced airport queues is undoubtedly appealing, the transition to digital travel documents raises significant concerns. Privacy experts caution about the lack of transparency surrounding these technologies and the potential for data breaches and increased surveillance. The ICAO itself acknowledges risks such as "look-alike fraud," criminal data collection, system outages, and the possibility of false rejections in facial recognition systems. The development of verification systems by various companies worldwide adds another layer of complexity. "We don't really know how secure these systems are," said Udbhav Tiwari, director of global product policy at Mozilla. "The fact is that all of these companies develop these systems often do so in deeply proprietary manners." Adam Tsao, who leads digital identity efforts at the security company Entrust, told Wired that another concern is who will handle the data, including who can access it, for what reasons, and how much control they have over its use. Tsao advocates for a precise and controlled approach to data sharing in our increasingly digital world. He suggests that the ideal scenario would involve providing only the necessary information, for a limited time, to the appropriate parties and for specific purposes. However, Tsao acknowledges that achieving this level of precision in data management presents significant challenges. Perhaps not surprisingly, the implementation of these systems has not been without controversy. In India, the Digi Yatra face-recognition boarding system has faced criticism over its introduction and enrollment processes. "The way that it's happening in India is no longer voluntary, and it's no longer something we can hold the government or anybody else accountable for," said Disha Verma, from the Internet Freedom Foundation. The Digi Yatra system has been operating in 24 airports around the country and may be opening up to foreign citizens in 2025. Meanwhile, the privacy and compliance issues the system has raised will only heighten as there are plans in India to roll out the identity technology to hotels and historical monuments.Tech mogul Elon Musk, owner of the social media platform X, has called for better accessibility to the platform's 'Mute Words' feature. His comment came in response to a post by Dan, an employee of X, who highlighted the functionality in a recent post on the platform. Dan wrote , "Friendly reminder that you can mute words on X: settings > privacy > mute > mute words. Forever if necessary or for a duration if you just need a break." The feature allows users to block specific words or phrases from appearing in their feed, offering a personalised way to filter content. In response, Musk acknowledged the value of the feature but admitted it could be challenging to locate, replying, "We do need to make this easier to find." The ' Mute Words' feature is especially useful for those seeking respite from specific topics or trends, particularly during high-profile or controversial events. Users can opt to mute words either indefinitely or for a limited period, tailoring the platform to their needs. As Musk’s acknowledgment suggests, an update may soon make this functionality more prominent, potentially reducing user frustration and increasing engagement. Since taking over the microblogging platform, Musk has introduced various changes, aiming to make X more user-friendly and adaptable to individual preferences. In other news, Elon Musk who will soon become a part of Donald Trump's administration, recently posted a video featuring the late Nobel laureate Milton Friedman discussing America's social security system. The billionaire and tech mogul captioned the video, "Wise words from a true genius." In the video, Friedman explored several topics, including the government's taxation policies, their influence on inflation, and the effects of government social security programs on the public. “Government is a fiction where everybody believes that he can live at the expense of everybody else. And that is the free lunch myth. The myth that somehow or other government can provide goods and services can spend money at nobody's expense,” stated Friedman.
Assad’s fall opens new dynamics in Middle East, regional analysts sayROANOKE, Va.--(BUSINESS WIRE)--Dec 27, 2024-- Luna Innovations Incorporated (Nasdaq: LUNA) (the “Company”), a global leader in advanced fiber optic-based technology, today announced that, Pamela Coe, a member of the Board of Directors (the “Board”), will be retiring from the Luna board effective today. Ms. Coe was elected to the Board in May 2021 for a three-year term. “We are very grateful for Pam's notable contributions and leadership throughout her time on the Board,” said Barry Phelps, Chairman of the Board of the Company. “Her expertise, focus and commitment have been instrumental in guiding Luna. We wish Pam all the best in her future endeavors.” About Luna Luna Innovations Incorporated ( www.lunainc.com ) is a leader in optical technology, providing unique capabilities in high-performance, fiber optic-based, test products for the telecommunications industry and distributed fiber optic-based sensing for a multitude of industries. Luna’s business model is designed to accelerate the process of bringing new and innovative technologies to market. Forward-Looking Statement The statements in this release that are not historical facts constitute “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include expectations regarding the Company’s continuing operations, results from operations and strategic alternatives. Management cautions the reader that these forward-looking statements are only predictions and are subject to a number of both known and unknown risks and uncertainties, and actual results, performance, and/or achievements of the Company may differ materially from the future results, performance, and/or achievements expressed or implied by these forward-looking statements as a result of a number of factors. These factors include, without limitation, risks set forth in the sections entitled “Risk Factors” in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, as well as in subsequent filings with the Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov and on Luna’s website at www.lunainc.com . The statements made in this release are based on information available to Luna as of the date of this release and Luna undertakes no obligation to update any of the forward-looking statements after the date of this release. View source version on businesswire.com : https://www.businesswire.com/news/home/20241227000518/en/ CONTACT: Investor Contact: Allison Woody Luna Innovations Incorporated Phone: 540.769.8465 Email:woodya@lunainc.com KEYWORD: VIRGINIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: DEFENSE TECHNOLOGY NANOTECHNOLOGY OTHER TECHNOLOGY TELECOMMUNICATIONS SOFTWARE OTHER DEFENSE SOURCE: Luna Innovations Incorporated Copyright Business Wire 2024. PUB: 12/27/2024 04:40 PM/DISC: 12/27/2024 04:40 PM http://www.businesswire.com/news/home/20241227000518/en
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Public transport a top priority in 10-year blueprint for Lake MacquarieNATO and Ukraine to hold emergency talks after Russia’s attack with new hypersonic missileMaybe you've heard about patterns in the stock market, but found the subject overwhelming. People talk about 50-day moving averages, descending triangles, double tops, and double bottoms, as well as head and shoulders, which aren't to be confused with cup and handles. It all sounds a little too many. Fortunately, there's a far easier stock market pattern out there, and it may be the only one that you ever need to know. Here it is: Over the long term, the S&P 500 rises two out of every three years. In other words, the odds are roughly 66% in favor of gains in any given year. Will the stock market go up in 2025? Betting that it will go up is the most logical bet an investor could make, given the historical pattern . It's a pattern that investors ignore at their own risk, and it has me seriously considering Nvidia ( NVDA -1.81% ) for my own portfolio. Here's why. But first, the reason behind it all To pluck an example out of the air, Tractor Supply ( TSCO -0.00% ) was a stock that I would have gladly bought at the start of 2024, but I wanted a better price. Not buying caused me to miss out on its 33% year-to-date gains, which have outpaced the otherwise stellar 27% returns for the S&P 500. TSCO data by YCharts . Peter Lynch was one of the world's greatest investors. He said, "Far more money has been lost by investors in preparing for corrections, or anticipating corrections, than has been lost in the corrections themselves." I reluctantly admit that this is exactly what happened to me. At the start of 2024, I could list out many reasons why the stock market was headed for a so-called correction this year, and I could have backed up each point with facts and data points. But I was still wrong. For illustrative purposes, I believe I would have bought Tractor Supply stock at the beginning of the year had it been 20% cheaper. But let's imagine that I went ahead with a $10,000 investment, anyway, despite my convictions. If turned out to be right, I'd have witnessed a 20% drop, meaning I'd have been down $2,000. In reality, however, I'd be up $3,300. Like Lynch said, I've lost more money waiting for a stock market correction than I would have lost in the correction itself. Thinking big-picture, Tractor Supply is exactly the sort of high-quality business investors should be looking for. With nearly 2,300 locations, it's big. And with operating margins close to 10%, it's a strong business. Moreover, it's reliable. It has over 37 million members in its loyalty club, and over half of its sales are related to livestock and pets, which are less discretionary purchases. Finally, it has opportunity for growth as it expands more into the pet space . Rather than waiting for a correction, investors are better served by gradually buying more of Tractor Supply stock over time with a system called dollar-cost averaging . It's a great way to build a position when you're betting the market will rise -- and given the historical pattern, you should bet it will rise. Why Nvidia might be a stock for 2025 I've gone on record with my belief that Nvidia stock rose too fast -- investors are pricing quite a bit of long-term growth into the investment today. That said, I've never doubted the quality of this business, and I believe it may have a wider moat than I've given it credit for. To briefly explain, Nvidia's graphics processing units (GPUs) are powering the revolution in artificial intelligence (AI). The company's net -profit margin has soared to over 55% because its customers simply want more GPUs than what it can possibly supply. NVDA Profit Margin data by YCharts . As Amazon founder Jeff Bezos once said, "Your margin is my opportunity." I believed Nvidia's ridiculously high margin would invite competition, especially since its customers are some of the most technologically advanced companies on earth. It seemed that at least some of them would develop their own GPUs to compete. So far, this hasn't materialized, and it's fair to start believing that Nvidia can keep competitors at bay. Consider that the CEO of Amazon's Amazon Web Services recently said to Bloomberg: "The first core innovation is that we built our own chip. It's called Tranium 2." But he followed this up by saying, "We think of it as a supplement to Nvidia GPUs." In other words, Amazon looks like it's making complementary AI products, not competitive ones. So perhaps Nvidia's margins are safer than I gave it credit for. It may seem foolish to consider Nvidia stock now -- after all, it's already up over 2,600% in just five years. But there's another historical trend I'm considering here: Over the last 10 years, the top stock of the S&P 500 (of stocks that were in the index for the entire year) went up 80% of the time the following year . Right now, Nvidia is in first place among these companies, suggesting it will rise again next year. It makes sense: A stock doesn't outperform 499 of the biggest, more profitable U.S. companies unless something extraordinary is happening with the business. Those extraordinary things tend to play out for multiple years. This is why top stocks tend to continue rising. The big-picture trend that investors shouldn't ignore is that it makes sense to bet that the stock market will go up in 2025. For this reason, waiting for a pullback to buy isn't necessarily the best approach. The better approach would be to dollar-cost average into high-quality businesses such as Tractor Supply and Nvidia. Given Nvidia's performance in 2024, it's reasonable to expect it to perform well again in 2025 as the market rises.