Opinion - The Korea Times

Next legal counsel: artificial intelligence lawbot

By Daniel Shin As Artificial intelligence (AI) becomes more deeply integrated into our day to day life, many jobs doing simple and repeated tasks might quickly disappear. Advanced jobs that require professional knowledge or experiences may be also replaced by the adaptive deep learning machine and only the top human elite might survive. Artificial intelligence may even eventually replace lawyers. It is yet hard to imagine how lawyers could be replaced by AI. Lawyers or judges are only as good as the information they receive. AI has the great potential to analyze the information it receives without human prejudice or personal favoritism. AI can take a lot of repetitive tasks and quickly finish them with consistent quality and reasonable judgment. There wouldn't be any errors with human intervention. Error rates increase when human lawyers get tired or have their own schedules, but a machine wouldn't. All administration work in public offices, therefore, could benefit from AI. AI could accelerate the processes of classifying documents and extracting any necessary data from those docume

Aug 1, 2021By Daniel Shin

Daniel Shin

AI for good

By Daniel ShinDespite the hype surrounding artificial intelligence (AI), many early stage venture investors continue focusing on the technology. SoftBank is second to none, reaping a record 5 trillion yen in net profit for the fiscal year ending on March 31, 2021. This was the highest of any Japanese company in history. SoftBank Vision Fund saw a huge investment gain on Coupang in the fourth quarter. This return generates tremendous momentum for SoftBank's Vision Fund going forward. SoftBank founder, Masayoshi Son, once said, “AI will completely change the way humans live within 30 years,” and the firm has set aside $80 billion to fund Son's AI vision.China is on the frontier of AI, making huge investments and leading the way in AI-related patents and publications. Speech and image recognition applications are already widely used as China has a vibrant market for them. China is fast in adopting such products and services in everyday life ― a huge market indeed.The large use in China provides advantages in big data and machine learning. AI is a field that is heavily backed

Jun 3, 2021By Daniel Shin

Daniel Shin

Who will win cryptocurrency race first: private vs. public sector?

By Daniel ShinBy 2022, there will be a tax levied by the Korean government on any income from cryptocurrency trading. Some said that it is too early or too much with a proposed 20 percent tax rate because financial regulators have not come up with rules to protect investors yet. There is no unified or consistent regulatory framework on crypto currencies and assets while there is a rapidly growing number of cryptocurrency investors and NFT (non-fungible token) backed asset holders.Cryptocurrencies are one of the biggest trends as everyone talks about them with some degree of knowledge. Despite the fact that many corporations and governments around the world have adopted cryptocurrencies in some form, cryptocurrencies remain one of the least-regulated areas of finance. Sky is the only limit for a skyrocketing coin price even if it is extremely volatile. Whether it has been artificially inflated or not, a single Bitcoin could buy a Tesla, as the company now accepts cryptocurrencies as payment. Tesla recently revealed that they have had a positive impact on the company's profitability as

May 9, 2021By Daniel Shin

Daniel Shin

Age of 'fan-vesting': Trade or not to trade

By Daniel ShinEverything has value. However, flawed rationale can't justify the hype behind the stock market. Many people have found ways to be productive during the coronavirus-induced lockdown. Working from home makes it easy to relax between Zoom calls. It also increases screen time for online shopping, entertainment and day trading. Smartphones make trading very accessible and you don't need to have a financial adviser to get into trading these days. Target assets vary from typical ones such as stocks, bonds and derivatives to alternative assets including commodities and even arts, non-fongible tokens (NFTs) and bitcoins.Abundant liquidity to sustain the global economy continues to drive up market value of any asset. Markets are going crazy even if we appreciate a handsome return from investment. A textbook can't explain these recent ups and downs on the stock market scene. The glamorous world of celebrities can seem a very long way away if you are a small business owner. If an endorsement deal is done correctly, though, it can have a huge positive impact on sales although the na

Apr 6, 2021By Daniel Shin

Age of 'fan-vesting': Trade or not to trade

Daniel Shin

Back to basics: changing face of online retailing

By Daniel ShinMental health is one of the biggest issues we face this year. Navdeep Bains, the Canadian minister of innovation, science and industry, says that the country faces mounting mental health concerns that the government would have to address. Mental health challenges impact employee retention, productivity, and job performance. Therefore, mental health problems are often associated with large direct costs for individuals and society. Spiky asset price booms can be a source of cheer, but also anxiety. Anxiety mounts over FOMO (fear of missing out) on a stock market rally or the prospect of a potential stock market bubble burst. Some might say that the market momentum couldn't be better than this.Most people are bogged down with money, and acquiring things or power. However, the current stark contrast in the fortunes of Wall Street and Main Street seems to be unavoidable. What gives us satisfaction, hope, solace or positivity in the age of anxiety is not only monetary gain.Retail therapy is an interesting concept to pay attention to. Shopping makes us happy. Impromptu shoppin

Mar 21, 2021By Daniel Shin

Daniel Shin

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Next legal counsel: artificial intelligence lawbot

AI for good

Who will win cryptocurrency race first: private vs. public sector?

Age of 'fan-vesting': Trade or not to trade

Back to basics: changing face of online retailing

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