Category: Artificial Intelligence

  • MIL-OSI: QXO Comments on Beacon Roofing Supply’s Adoption of Shareholder-Unfriendly Poison Pill

    Source: GlobeNewswire (MIL-OSI)

    Reaffirms Commitment to Acquiring Beacon for $124.25 per Share in Cash

    All-Cash Offer Provides Significant and Immediate Value to Beacon Shareholders

    GREENWICH, Conn., Jan. 28, 2025 (GLOBE NEWSWIRE) — QXO, Inc. (NYSE: QXO) today commented on Beacon Roofing Supply, Inc.’s (Nasdaq: BECN) adoption of a shareholder rights plan, which takes immediate effect and is aimed at blocking QXO’s all-cash tender offer to acquire all outstanding shares of Beacon for $124.25 per share.

    “We launched our all-cash tender offer to ensure that Beacon’s shareholders can take advantage of our compelling offer and get paid quickly. We have committed financing, have no due diligence condition and anticipate a smooth regulatory approval process to close,” said Brad Jacobs, chairman and chief executive officer of QXO. “The only thing stopping shareholders from acting to get cash expeditiously is the decision by Beacon’s Board to adopt a poison pill. We are prepared to take all necessary steps to complete this transaction promptly and deliver significant and immediate value to Beacon shareholders.”

    QXO’s $124.25 per share offer represents a 37% premium to Beacon’s 90-day unaffected volume-weighted average price of $91.02 per share as of November 15, 2024, and a 26% premium to the $98.75 price before its proposal became public.

    QXO’s tender offer will be outstanding until 12:00 midnight, New York City time, at the end of February 24, 2025, and it is prepared to complete the acquisition shortly after the tender expires, in approximately one month. The transaction is not subject to any financing conditions or due diligence conditions, and QXO expects that the waiting periods under the Hart-Scott-Rodino Act and the Canadian Competition Act will have expired or been waived by the time the tender offer expires.

    Morgan Stanley & Co. LLC is acting as financial advisor to QXO, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel.

    About QXO

    QXO provides technology solutions, primarily to clients in the manufacturing, distribution and service sectors. The company provides consulting and professional services, including specialized programming, training and technical support, and develops proprietary software. As a value-added reseller of business application software, QXO offers solutions for accounting, financial reporting, enterprise resource planning, warehouse management systems, customer relationship management, business intelligence and other applications. QXO plans to become a tech-forward leader in the $800 billion building products distribution industry. The company is targeting tens of billions of dollars of annual revenue in the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.

    Forward-Looking Statements

    The communication contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets, goals, regulatory approval timing and nominating directors are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “target,” “goal,” or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Such factors include but are not limited to: the ultimate outcome of any possible transaction between QXO and Beacon including the possibility that the parties will not agree to pursue a business combination transaction or that the terms of any definitive agreement will be materially different from those proposed; uncertainties as to whether Beacon will cooperate with QXO regarding the proposed transaction; the ultimate result should QXO’s commence a proxy contest for election of directors to Beacon’s board of directors; QXO’s ability to consummate the proposed transaction with Beacon; the conditions to the completion of the proposed transaction, including the receipt of any required shareholder approvals and any required regulatory approvals; QXO’s ability to finance the proposed transaction; QXO’s indebtedness, including the substantial indebtedness QXO expects to incur in connection with the proposed transaction with Beacon and the need to generate sufficient cash flows to service and repay such debt; that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers or suppliers) may be greater than expected following the proposed transaction or the public announcement of the proposed transaction; the retention of certain key employees may be difficult; and general economic conditions that are less favorable than expected. QXO cautions that forward-looking statements should not be relied on as predictions of future events, and these statements are not guarantees of performance or results. Forward-looking statements herein speak only as of the date each statement is made. QXO does not assume any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law.

    Important Additional Information and Where to Find It

    This communication is for informational purposes only and does not constitute a recommendation, an offer to purchase or a solicitation of an offer to sell Beacon securities. QXO and Queen MergerCo, Inc. (the “Purchaser”) filed a Tender Offer Statement on Schedule TO with the SEC on [DATE], 2025, and Beacon will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the tender offer with the SEC. Investors and security holders are urged to read the Tender Offer Statement (including the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as each may be amended or supplemented from time to time) and the Solicitation/Recommendation Statement, when available, carefully since they contain important information that investors and security holders should consider before making any decision regarding tendering their common stock, including the terms and conditions of the tender offer. The Tender Offer Statement, Offer to Purchase, Solicitation/Recommendation Statement and related materials are filed with the SEC, and investors and security holders may obtain a free copy of these materials and other documents filed by QXO and Beacon with the SEC at the website maintained by the SEC at www.sec.gov. In addition, the Tender Offer Statement and other documents that QXO and the Purchaser file with the SEC will be made available to all investors and security holders of Beacon free of charge from the information agent for the tender offer. The information agent for the tender offer is Innisfree M&A Incorporated, 501 Madison Avenue, 20th Floor, New York, NY 10022, Toll-free telephone: +1 (888) 750-5834.

    QXO and the other participants intend to file a preliminary proxy statement and accompanying WHITE universal proxy card with the SEC to be used to solicit proxies for, among other matters, the election of its slate of director nominees at the 2025 annual meeting of stockholders of Beacon. QXO strongly advises all stockholders of Beacon to read the preliminary proxy statement, any amendments or supplements to such proxy statement, and other proxy materials filed by QXO with the SEC as they become available because they will contain important information. Such proxy materials will be available at no charge on the SEC’s website at www.sec.gov and at QXO’s website at investors.qxo.com. In addition, the participants in this proxy solicitation will provide copies of the proxy statement, and other relevant documents, without charge, when available, upon request. Requests for copies should be directed to the participants’ proxy solicitor.

    Certain Information Concerning the Participants

    The participants in the proxy solicitation are anticipated to be QXO, Brad Jacobs, Ihsan Essaid, Matt Fassler, Mark Manduca and the individuals nominated by QXO (the “QXO Nominees”). QXO expects to determine and announce the QXO Nominees prior to the nomination deadline for the 2025 annual meeting of stockholders of Beacon.  As of the issuance of this communication, other than QXO, which beneficially owns 100 shares of Beacon common stock, none of the participants that have been identified beneficially own any shares of Beacon common stock.

    Media Contacts
    Joe Checkler
    joe.checkler@qxo.com
    203-609-9650

    Steve Lipin / Lauren Odell
    Gladstone Place Partners
    212-230-5930

    Investor Contacts ‍

    Mark Manduca
    mark.manduca@qxo.com
    203-321-3889

    Scott Winter / Jonathan Salzberger
    Innisfree M&A Incorporated
    212-750-5833

    The MIL Network

  • MIL-OSI USA: Fact Sheet: President Donald J. Trump Directs the Building of the Iron Dome Missile Defense Shield for America

    US Senate News:

    Source: The White House
    DEFEND THE UNITED STATES AGAINST MISSILE ATTACK: Today, President Donald J. Trump signed an Executive Order to Build the Iron Dome for America.
    The Executive Order directs implementation of a next-generation missile defense shield for the United States against ballistic, hypersonic, advanced cruise missiles, and other next-generation aerial attacks.
    With the goal of providing for the common defense of American citizens, this Order accelerates the development and deployment of Hypersonic and Ballistic Tracking Space Sensor Layers, proliferated space-based interceptors, a Proliferated Warfighter Space Architecture, capabilities to defeat salvoes prior to launch, non-kinetic missile defense capabilities, and underlayer and terminal-phase intercept capabilities.
    It also secures the supply chains for all components of the Iron Dome.

    The Executive Order directs a review of theater missile defense posture to defend United States troops deployed abroad and an increase in cooperation on missile defense technology development, capabilities, and operations with partners and allies. 
    ADDRESSING VULNERABILITIES BY MODERNIZING AN OUTDATED SYSTEM:
    The threat of attack by ballistic, cruise, and hypersonic missiles remains a catastrophic threat facing the United States.
    Over the past 40 years, rather than lessening, the threat from next-generation strategic weapons—including hypersonic—has become more complex with the development of next-generation delivery systems by our adversaries.
    Notwithstanding this increasing threat, United States homeland missile defense policy has been limited to staying ahead of rogue nation threats and accidental or unauthorized missile launches.
    THE IRON DOME WILL FURTHER THE GOALS OF PEACE THROUGH STRENGTH: By empowering the United States with a second-strike capability, the Iron Dome will deter adversaries from attacks on the homeland.
    President Trump is fulfilling his promises: “I will direct our military to begin construction of the great Iron Dome missile defense shield, which will be made all in the USA.”

    MIL OSI USA News

  • MIL-OSI USA: Innovation Quest Turns Students into Entrepreneurs 

    Source: US State of Connecticut

    If there is one thing that Gaofei Zhang learned from a night-time equestrian class at UConn on a bitter cold evening is that a warm, comfortable pair of boots is one of life’s necessities.

    “After that night, I tried a lot of brands of boots,’’ says Zhang, a Ph.D. student in the Department of Allied Health Sciences in the College of Agriculture, Health and Natural History (CAHNR). “They either weren’t warm or weren’t waterproof, or they were slippery or stiff or hard to clean. I didn’t understand why you’d call them ‘snow boots’ if they aren’t good in the snow!’’

    Zhang has a home in Mongolia where the temperature drops as low as minus-30 degrees. The locals create warm and comfortable work boots, but they aren’t stylish. Zhang thought she could adopt their footwear expertise and merge it with something fashionable, including multi-colored fur and beads.

    “As an international student, I didn’t know anything about how to start a company and I was not brave enough to create it on my own,’’ she says. Last year she brought her idea to Innovation Quest (iQ), a UConn entrepreneurship program and competition that helps students develop their ideas into thriving startups. IQ provides workshops, mentoring, and startup funding for the most promising ideas.

    Today, Zhang’s unique, handcrafted boots, marketed under the name MOGSki, are ready to go to market, and the 15 styles of boots and apres-ski accessories are drawing interest from many boutiques. Elegant and chic, they are made of sheep, mink, or cow hide and lined with shearling for added warmth.

    Innovation Quest Workshops Begin on Feb. 4; Students Vie for $30,000 in Funding 

    Zhang is one of more than 2,500 UConn students who have participated in iQ since its inception 14 years ago.  The program is open to UConn graduate and undergraduate students from any field of study.

    IQ is run by Kevin Gardiner ’06 MBA, an adjunct professor in business and engineering. He has held management positions at both startups and long-established companies, including Macy’s, Oracle, and Welcome Commerce.

    “We’re definitely looking for someone who has grit, someone who isn’t going to give up,’’ he says. “As an entrepreneur, you get far more ‘no’s’ than ‘yeses,’ and that’s something that you have to accept. I also look for someone with a passion for the problem they are tackling. When the iQ judges see that, they know they’ve got an entrepreneur whom they can bet on.”

    This year’s event will begin with a kickoff workshop at 6:30 p.m. on Tuesday, Feb, 4, followed by workshops on Feb. 12, Feb. 26, and March 5. All the workshops are virtual for the convenience of students. Participants may sign up at innovationquest.uconn.edu.

    IQ had a 22% increase in participation last year, over 2023, and that’s a trend that Gardiner hopes to see continue.

    Previous participants have created everything from stuffed animals to clothing to personal care items to businesses engaged in environmental cleanup. Gardiner says that in recent years, students seem particularly interested in health tech, mobile apps, and AI-related companies, but all good idea are welcome.

    Last year’s first-place award went to Ph.D. candidate John Toribio, whose company Zemi Labs is creating wearable garments that provide biomechanical data, including heart and muscle performance.

    “UConn continues to provide more and more opportunities for student entrepreneurs, and we continue to evolve this program,’’ Gardiner says. “We welcome students who just want to dip a toe in the water, as well as those who are fully committed to creating a business.’’

    The iQ program has more than 50 expert mentors and more than half of them have been associated with the program since the beginning. Every year, iQ adds new advisers, all passionate about working with students.

    “I want all students to feel welcome,’’ Gardiner says. “We have four virtual workshops to help students understand entrepreneurship. Are you ready to launch a business? If not, what do you need to get ready? We want anyone, even those with a more remote interest, to attend and learn.’’

    After the workshops are completed, students can submit a formal application to enter the competition and compete for a share of $30,000 in funding. Final presentations are April 14 in Storrs and the top three startup companies will be announced. Many of the previous participants have gone on to start their companies or to pursue an entrepreneurial career.

    Zhang Developed Business Expertise, Confidence

    For Zhang, the last year has been enormously gratifying, both personally and professionally.

    “IQ has been an incredible journey for me. It’s not only helped sharpen my presentation skills but also expanded my knowledge across so many areas—product positioning, sales, marketing, tax, finance, IP, law, storytelling, and more,’’ she says.

    “The competition broadened my perspectives, strengthened my courage and determination, and provided invaluable mentorship and networking opportunities,’’ she says. “It’s truly been one of the most impactful milestones in my entrepreneurial journey, directly pushing forward the progress of my startup.’’

    She says she would tell anyone considering entrepreneurship to give it a try.

    “I would tell other entrepreneurs to be fearless in exploring new ideas and to use your own experiences to solve problems,’’ she says. “Be adaptable, build a network, find mentors, be persistent, and be open to both failures and successes.’’

    MIL OSI USA News

  • MIL-OSI: Dave Cantin Group Positions for Growth in 2025 with New Leadership Appointments and Promotions

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Jan. 28, 2025 (GLOBE NEWSWIRE) — Dave Cantin Group (DCG), a leading mergers and acquisitions advisory company to retail automotive groups and their owners, has announced several strategic leadership advancements and new hires to support its growth in 2025 being fueled by an accelerating M&A environment as part of its ambitious growth strategy for 2025.

    The industry’s largest and most experienced executive leadership team realigns roles in preparation for a milestone year. Brian Traugott has been promoted to Chief of Staff to President and CEO Dave Cantin and Chief Business and Strategy Officer Brian Gordon. Other executive appointments included Tony Karabon as Executive Vice President, Head of Acquisition Management, and Stephen Jones as Executive Vice President, Head of Acquisition Strategy.

    Within the DCG central support team, Brandon Werley has been promoted to Vice President of M&A Advisory Services, bolstering DCG’s client service group, which utilizes the company’s proprietary AI tool, Jump IQ. Denise Salzstein has moved to Director of CRM, and Cameron Markeson to Associate, Business Analysis. The company also welcomed Zach Orr as Marketing Coordinator.

    All these moves follow a robust year in 2024 for DCG and foreshadow what is shaping up to be the company’s busiest year in history in 2025. “The number of large, quality deals we already have scheduled for closing in the first half of 2025, combined with the current level of client activity indicated that we needed to staff up across the organization to meet our clients’ needs,” said Dave Cantin, President and CEO of Dave Cantin Group. “We’re excited to see our team growing and to maximize the exceptional talent of our Executive Leadership Team, delivering unparalleled service, innovation, and results for our clients.”

    About Dave Cantin Group

    The Dave Cantin Group is a leading automotive M&A advisory company specializing in acquisitions, divestitures, intelligence, and other advisory services. The company is the M&A services provider of choice for North America’s top automotive dealership groups, advising on approximately 40 transactions annually, DCG is differentiated by its advisory approach, long term lens on client relationships, and commitment to market intelligence tools that inform DCG and client strategies. In 2023, DCG became the only retail automotive M&A company with a significant strategic investor, welcoming Kaltroco to the DCG family.

    Through its M&A intelligence division, DCG produces automotive content and delivers relevant, timely marketing intelligence, including the automotive industry Market Outlook Report (MOR). Together with CBT News, DCG produces the Inside M&A studio show and podcast to share stories, news and trends impacting the retail automotive industry. DCG’s proprietary AI-enabled software, Jump IQ, anchors its advisory services that support retail automotive dealers in developing informed M&A strategies and making smarter M&A decisions.

    The company’s nonprofit initiative, DCG Giving, funds child and adolescent cancer research and treatment in communities nationwide and other worthy charitable initiatives. DCG team members regularly feature on the industry speaking circuit and are regularly cited by top national and global news outlets. For more information, please visit davecantingroup.com.

    Media Contact:

    Katie Merx

    katiemerx@gmail.com

    313.510.5090

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f162c27f-9bab-4734-b906-64b9644192bc

    The MIL Network

  • MIL-OSI: ESET Launches New Series of Speakeasy Security, a Tech and Cybersecurity Podcast

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Jan. 28, 2025 (GLOBE NEWSWIRE) — ESET, a global leader in cybersecurity and threat detection, today announced a new series of its cybersecurity podcast, Speakeasy Security. As part of a 10-episode series, Speakeasy Security will be co-hosted by ESET Chief Security Evangelist Tony Anscombe and Co-Founder and CEO of Cysurance Kirsten Bay – providing lively commentary on the latest tech, privacy and cybersecurity headlines and offering listeners tips to protect themselves from cybercriminals.

    Available on a range of popular podcast platforms, including Apple Podcasts, Spotify, Amazon Music, Podcast Index, iHeart Radio, Pocket Casts, Deezer, Podcast Addict, Listen Notes and Podchaser, the first episode will air on “Trust in Technology—AI and Driverless Cars” where Anscombe and Bay discuss the public’s embrace and skepticism towards the technology.

    “I’m excited to have Kirsten join me at Speakeasy Security – delivering a fresh perspective from her years working to help consumers, SMBs and enterprises manage cybersecurity risk,” said Tony Anscombe. “Each episode, Kirsten and I will explore how new technologies and AI advancements are impacting our personal and professional lives, and the cybersecurity and privacy implications. We will aim to make complex tech issues understandable and enjoyable, while offering practical tips and advice for both businesses and consumers.”

    Bay, Co-Founder and CEO of Cysurance, is a sought-after public speaker and respected leader in the cyber insurance industry. She brings 25 years of expertise in financial services, risk intelligence and cybersecurity to the podcast in her role as co-host. Anscombe is a 30-plus year security industry expert and established author, blogger and speaker on new policies, regulations and the cybersecurity threat landscape. Speakeasy Security will also continue to feature ESET’s leading researchers and threat detection experts, as well as recognized cybersecurity influencers and guests from across the tech universe.

    “I am thrilled to join Speakeasy Security as a co-host and to explore how new technologies, smart devices and privacy-focused legislations will impact society and everyday users,” said Kirsten Bay, Co-Founder and CEO of Cysurance. “My goal with Tony is to offer thought-provoking insights and practical advice to help our audience navigate and stay secure in an ever-evolving digital landscape.”

    Speakeasy Security adds to ESET’s body of original content, which includes its award-winning blog WeLiveSecurity. Featuring commentary from ESET’s global security researchers, WeLiveSecurity offers in-depth knowledge of the latest threats and security trends, views and insights, video tutorials and advice for everyday internet users on how to secure data effectively. Follow the blog on Twitter at @welivesecurity and follow Anscombe at @TonyAtESET and Bay at @cyberkbay.

    For more information on Speakeasy Security, visit https://www.eset.com/us/about/newsroom/podcast-list/.

    About ESET
    ESET provides cutting-edge digital security to prevent attacks before they happen. By combining the power of AI and human expertise, ESET stays ahead of known and emerging cyber threats — securing businesses, critical infrastructure, and individuals. Whether it’s endpoint, cloud or mobile protection, its AI-native, cloud-first solutions and services remain highly effective and easy to use. ESET technology includes robust detection and response, ultra-secure encryption, and multi-factor authentication. With 24/7 real-time defense and strong local support, we keep users safe and businesses running without interruption. An ever-evolving digital landscape demands a progressive approach to security: ESET is committed to world-class research and powerful threat intelligence, backed by R&D centers and a strong global partner network. For more information, visit www.eset.com or follow us on LinkedInFacebook, and Twitter.

    Media contact:
    Jessica Beffa
    Jessica.beffa@eset.com
    720-413-4938

    The MIL Network

  • MIL-OSI: KnowBe4’s Top 10 Tips to Take Charge of Your Data on Data Privacy Day

    Source: GlobeNewswire (MIL-OSI)

    TAMPA BAY, FL, Jan. 28, 2025 (GLOBE NEWSWIRE) — KnowBe4, the world-renowned cybersecurity platform that comprehensively addresses human risk management, celebrates Data Privacy Day with practical and impactful recommendations to help individuals and organizations take charge of their data security.

    In an age where data is constantly collected, shared, and monetized, Data Privacy Day serves as an annual reminder about the importance of protecting and facilitating online privacy. Data Privacy Day began in the United States in January 2008 as an extension of the Data Protection Day celebration in Europe and is officially led by NCSA in North America. The National Cybersecurity Alliance has expanded it into Data Privacy Week, with the 2025 theme ‘Take Control of Your Data’, which encourages individuals to reclaim their digital autonomy through simple, actionable steps to make informed privacy choices. For organizations, the message emphasizes the need to respect and prioritize users’ data privacy.

    Data privacy is more critical than ever, especially when social media platforms, AI chatbots and connected devices have increased publicly available digital footprints. This creates opportunities for the misuse of personal information and data traces which can lead to incidents of identity theft, financial fraud, and even psychological harm.

    Recognizing the shared responsibility of safeguarding data, DePaula shares the 10 top tips for individuals and organizations to help take control of their data in 2025:

    Tips for Individuals

    1. Vet your apps and tools: Before using new apps, check their data usage policies, control options, and origin to ensure they are trustworthy.
    2. Optimize IoT device privacy: Adjust settings in your IoT device apps to enhance privacy, such as disabling voice recordings, limiting data storage, or controlling ad preferences.
    3. Educate your family: Discuss online safety with family members, especially children, covering topics like avoiding sharing personal information, recognizing suspicious links, and managing location sharing.
    4. Set up a reputable password manager: Use it for critical accounts and generate strong, unique passwords.
    5. Enable multi-factor authentication (MFA): Activate MFA, preferably with a FIDO token, for critical accounts as an added layer of protection.

    Tips for Organizations

    1. Minimize data collection: Only collect and store data that is essential for business operations. Eliminate unnecessary personal or payment information.
    2. Communicate transparency in privacy policies: Clearly explain what data is collected, how it is used, and with whom it is shared.
    3. Train employees: Educate all employees on data protection regulations, while training them to recognize the latest social engineering attacks and other security risks.
    4. Encrypt personal data: Protect personal data—at rest and in transit—from unauthorized access or exposure.
    5. Vet vendors and partners: As a ‘responsible party’, your organization is responsible and accountable for protecting the data of its subject – even if the processing is outsourced to third parties. Ensure that any external parties handling your organization’s data maintain a high standard of privacy and protection.

    “The new year brings a wave of challenges, especially with the rapid advancements and creation of AI-driven technologies,” said DePaula. “For AI to function effectively, it relies on vast amounts of data being collected and utilized, which raises important questions about privacy, transparency, and ethics. It is up to every organization to take responsibility, not just in regards to how data is handled, but in fostering a culture of accountability. “We have an obligation to build and maintain trust as we navigate our digital landscape.”

    For more insights and best practices on data privacy, visit www.knowbe4.com.

    About KnowBe4

    KnowBe4 empowers workforces to make smarter security decisions every day. Trusted by over 70,000 organizations worldwide, KnowBe4 helps to strengthen security culture and manage human risk. KnowBe4 offers a comprehensive AI-driven ‘best-of-suite’ platform for Human Risk Management, creating an adaptive defense layer that fortifies user behavior against the latest cybersecurity threats. The HRM+ platform includes modules for awareness & compliance training, cloud email security, real-time coaching, crowdsourced anti-phishing, AI Defense Agents, and more. As the only global security platform of its kind, KnowBe4 utilizes personalized and relevant cybersecurity protection content, tools and techniques to mobilize workforces to transform from the largest attack surface to an organization’s biggest asset.

    The MIL Network

  • MIL-OSI: Bannix and VisionWave Announce filing of a registration statement on Form S-4

    Source: GlobeNewswire (MIL-OSI)

    WILMINGTON, Del., Jan. 28, 2025 (GLOBE NEWSWIRE) — Bannix Acquisition Corp. (“Bannix”) (NASDAQ: BNIX), a publicly traded special purpose acquisition company, and VisionWave Technologies, Inc. (“VisionWave”), a company specializes in the development, testing, and commercialization of advanced technologies for defense, surveillance, and homeland security applications., today announced that VisionWave Holdings, Inc., a wholly owned subsidiary of Bannix (“VisionWave Holdings”), filed with the U.S. Securities and Exchange Commission (“SEC”) of a registration statement on Form S-4 (the “Registration Statement”). 

    The Registration Statement contains a preliminary proxy statement/prospectus in connection with the proposed business combination between VisionWave and Bannix. While the Registration Statement has not yet become effective and the information contained therein is subject to change, it provides important information about VisionWave, VisionWave Holdings, Bannix, and the proposed business combination. 

    CEO and Chairman of Bannix Douglas Davis, commented, “We are thrilled to reach this milestone with VisionWave as we continue the partnership. The potential of in the defense sector is immense, and this partnership positions the combined company for success. We are confident VisionWave is poised to be a leading player and are eager to continue on the path ahead.” 

    Transaction Overview 

    Under the terms of the merger agreement entered into by Bannix and VisionWave, among others, with respect to the proposed business combination, Bannix and VisionWave will merge with subsidiaries of VisionWave Holdings, a wholly owned subsidiary of Bannix that was formed for the proposed transaction (the “Merger”), with Bannix and VisionWave becoming direct wholly owned subsidiaries of VisionWave Holdings. At the effective time of the Merger, stockholders of Bannix and VisionWave immediately prior to the effective time of the Merger will receive shares of VisionWave Holdings common stock. 

    About Bannix Acquisition Corp. 

    Bannix Acquisition Corp. is a blank check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.

    About VisionWave Technologies Inc.

     VisionWave Technologies Inc. is at the forefront of revolutionizing defense capabilities by integrating advanced artificial intelligence (AI) and autonomous solutions across air, ground, and sea domains. Its state-of-the-art innovations— ranging from high-resolution radars and advanced vision systems to radio frequency (RF) sensing technologies are seeking to redefine operational efficiency and precision for military and homeland security applications worldwide. From tactical ground vehicles to precision weapon control systems, VisionWave leads the development of reliable, high-performance technologies that transform defense strategies and deliver superior results, even in the most challenging environments. With headquarters in the U.S. and strategic partnerships in Canada and the United Arab Emigrants, VisionWave is uniquely positioned to serve global markets, offering cutting-edge defense solutions that address the evolving needs of security forces across the world.

    Cautionary Statement Regarding Forward Looking Statements 

    This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”) that are based on beliefs and assumptions and on information currently available to Bannix and VisionWave, including statements regarding VisionWave’s business plans and growth strategies, market opportunities, and financial prospects. In some cases, you can identify forward looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to:

    (i) the risk that the previously disclosed proposed business combination (the “proposed transaction”) may not be completed in a timely manner or at all, which may adversely affect the price of Bannix’s securities; (ii) the risk that the proposed transaction may not be completed by Bannix’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Bannix; (iii) the failure to satisfy the conditions to the consummation of the proposed transaction, including the approval of the proposed transaction by Bannix’s stockholders and the receipt of certain governmental and regulatory approvals; (iv) the failure to obtain adequate financing to support the future working capital needs of VisionWave and the combined company; (v) the outcome of any legal proceedings that may be instituted against Bannix or VisionWave related to the merger agreement and the proposed transaction; (vi) changes to the proposed structure of the proposed transaction that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the proposed transaction; (vii) the ability to maintain the listing of Bannix’s securities on Nasdaq; (viii) the price of Bannix’s securities, including volatility resulting from changes in the competitive and highly regulated industries in which VisionWave operates, variations in performance across competitors, changes in laws and regulations affecting VisionWave’s business and changes in the combined capital structure; and (viii) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Bannix’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that are available on the website of the Securities and Exchange Commission (the “SEC”) at www.sec.gov and other documents filed, or to be filed with the SEC by Bannix and that may be found in the Registration Statement. The foregoing list of factors is not exhaustive. There may be additional risks that neither Bannix nor VisionWave presently know or that Bannix or VisionWave currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the definitive proxy statement to be filed by VisionWave Holdigns with the SEC, including those under “Risk Factors” therein, and other documents filed by Bannix and VisionWave Holdings from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward looking statements, and Bannix, VisionWave and VisionWave Holdings assume no obligation and, except as required by law, do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Bannix, VisionWave Holdings nor VisionWave gives any assurance that either Bannix or VisionWave will achieve its expectations. 

    Additional Information and Where to Find It 

    In connection with the proposed transaction, VisionWave Holdings filed with the SEC the Registration Statement on Form S-4, and after the Registration Statement is declared effective, VisionWave Holdings will mail a definitive proxy statement/prospectus relating to the proposed transaction to its stockholders. This press release does not contain all the information that should be considered concerning the proposed transaction and is not intended to form the basis of any investment decision or any other decision in respect of the proposed transaction. VisionWave Holdings and Bannix may file other documents regarding the proposed transaction with the SEC, and Bannix’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto, the definitive proxy statement/prospectus and the other documents filed in connection with the proposed transaction, as these materials will contain important information about VisionWave, VisionWave Holdings, Bannix and the proposed transaction. When available, the definitive proxy statement/prospectus and other relevant materials for the proposed transaction will be mailed to stockholders of Bannix as of a record date to be established for voting on the proposed transaction and the other matters to be voted upon at a meeting of Bannix’s stockholders to be held to approve the proposed transaction and such other matters. Such stockholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to Bannix Acquisition Corp., 300 Delaware Avenue, Suite 210#301, Wilmington, Delaware 19801 or via email at doug.davis@bannixacquisition.com. 

    Participants in Solicitation 

    Bannix, VisionWave Holdings and VisionWave, and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from Bannix’s stockholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Bannix’s stockholders in connection with the proposed transaction, including the names of such persons and a description of their respective interests, is set forth in Bannix’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the Registration Statement regarding the proposed transaction when it becomes available. Stockholders will be able to obtain copies of the documents described in this paragraph that are filed with the SEC, once available, without charge at the SEC’s website at www.sec.gov, or by directing a request to Bannix Acquisition Corp., 300 Delaware Avenue, Suite 210#301, Wilmington, Delaware 19801 or via email at doug.davis@bannixacquisition.com. 

    No Offer or Solicitation 

    This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Bannix, VisionWave Holdings or VisionWave, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act. 

    Contacts 

    Bannix Acquisition Corp.
    Douglas Davis, CEO
    (302) 305-479

    The MIL Network

  • MIL-OSI: New Research Reveals Massive Surge in AI Adoption for Talent Acquisition in 2025

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Jan. 28, 2025 (GLOBE NEWSWIRE) — Today, GoodTime released its fourth annual Hiring Insights Report, a comprehensive analysis based on an independent study of over 500 U.S. talent acquisition (TA) leaders, revealing the most pressing challenges and emerging trends shaping the hiring landscape in 2025.

    The report uncovers a challenging talent market where TA teams met just 47.9% of their hiring goals in 2024 on average, marking the lowest success rate recorded in the past four years​. Persistent bottlenecks, increasing time-to-hire, and rising candidate expectations have strained hiring efficiency across industries.

    At the same time, the report reveals key opportunities for 2025, including greater use of AI and automation, streamlined hiring tools, and a renewed focus on candidate experience — strategies that top-performing teams are already embracing to stay competitive.

    Key findings from the 2025 Hiring Insights Report:

    • Time-to-hire challenges: 60% of organizations reported longer time-to-hire in 2024, with interview cancellations and scheduling delays identified as the top bottlenecks​.
    • Surging AI adoption: 99% of talent acquisition teams now use AI and automation to streamline hiring processes, with 93% planning additional technology investments in 2025​.
    • Candidate experience focus: Top-performing teams were 55% more likely to focus on candidate experience improvements.
    • Sector-specific insights: Healthcare was the only sector to show year-over-year improvement in hiring goal attainment (56%), while retail, manufacturing, financial services, and technology all lagged further behind.

    Talent leaders eye bold moves in 2025

    “The data makes it clear — talent teams can’t afford to stay stuck in the hiring struggles of 2024,” said Ahryun Moon, CEO and Co-Founder of GoodTime. “The path forward demands bold investments in automation and AI to eliminate bottlenecks and meet hiring goals faster. But efficiency alone isn’t enough. The teams that will win in 2025 are those that balance speed with exceptional, human-centric hiring experiences.”

    The 2025 Hiring Insights Report shows that talent acquisition leaders are taking decisive action to improve hiring efficiency and outcomes in the year ahead, and focusing on five key areas to overcome hiring challenges:

    Driving operational efficiency with AI and automation

    AI and automation are now essential tools for modern talent acquisition. 99% of teams reported the use of these technologies and nearly all leaders are planning additional investments in 2025. Streamlined and automated workflows reduce administrative burdens, allowing recruiters to focus on strategic hiring efforts and improving overall operational efficiency.

    Eliminating bottlenecks in the hiring process

    Time-to-hire remains a critical challenge, with 60% of organizations reporting delays, largely due to interview cancellations and scheduling issues. Addressing these bottlenecks requires proactive strategies such as AI-powered analytics for identifying recurring issues, intelligent interviewer selection tools, and automated reminders and rescheduling workflows. These efforts help reduce scheduling conflicts and improve hiring speed.

    Enhancing the candidate experience to stay competitive

    Top-performing TA teams set themselves apart by prioritizing the candidate experience. Personalized experiences, such as branded candidate portals with real-time updates and anonymous feedback collection, keep candidates informed and engaged throughout the hiring process. Additionally, AI-driven insights help interviewers come better prepared for conversations, ensuring a smoother and more effective interview that creates a more engaging candidate experience.

    Leveraging data-driven insights for better decision-making

    Data and analytics have transformed hiring strategies, and nearly half of teams reported using AI-powered insights for better decision-making. Leading organizations are using these tools to detect inefficiencies, benchmark performance against industry standards, and implement real-time analytics for continuous process improvement, to make more informed decisions faster.

    Committing to continuous process improvement

    TA leaders emphasize the need for continuous refinement of hiring processes to stay competitive. This includes regular process audits using hiring data and feedback, ongoing interviewer training, and aligning hiring strategies with broader business goals. A culture of continuous improvement ensures hiring teams remain agile and capable of adapting to evolving market conditions.

    How challenges differed across sectors

    The 2025 Hiring Insights Report revealed that hiring challenges varied significantly across sectors. For example, healthcare was the only sector to report year-over-year improvements in hiring goal attainment, reaching 56%. Conversely, the retail and manufacturing sectors faced some of the highest struggles, with hiring goal attainment dipping to 36% — its lowest in three years.

    The financial services and technology sectors cited interview scheduling delays and capacity issues as primary barriers to success. Companies in these sectors have increasingly adopted automated interview scheduling tools and leverage AI to manage interviewer capacity more effectively. Meanwhile, the retail sector reported a surge in candidate drop-offs due to prolonged hiring timelines, highlighting the critical need for faster, more efficient hiring processes.

    The 2025 Hiring Insights Report offers further analysis and detailed recommendations for talent leaders seeking to improve hiring outcomes. The full report is available at goodtime.io.

    About GoodTime

    GoodTime elevates the entire hiring experience with human-centric AI, all while automating 90% of interview management tasks. Trusted by global talent teams at companies like Hubspot, Spotify, Priceline, and Lyft, our platform not only automates interview scheduling but also keeps candidates and interviewers deeply engaged throughout the hiring journey. Gain access to powerful insights and AI-driven recommendations to streamline processes and ensure every interviewer is always well-prepared. The result? Exceptional hiring experiences that consistently land you top talent.

    Learn more at goodtime.io.

    Media Contact

    For more information or to arrange an interview with Ahryun Moon, please contact:
    Jake Link
    press@goodtime.io

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9acc85bf-54e5-4ade-9d49-7e9ea67071df

    The MIL Network

  • MIL-OSI Africa: The African Research and Innovation Hub @ Intra-African Trade Fair (IATF) launched to utilise academia in advancing understanding of intra-African trade

    Source: Africa Press Organisation – English (2) – Report:

    CAIRO, Egypt, January 28, 2025/APO Group/ —

    • University lecturers, students, and researchers affiliated with National Research Institutions invited to participate and showcase their publications and prototypes at IATF2025.  

    Afreximbank (www.Afreximbank.com), in collaboration with African Union Commission and AfCFTA Secretariat, is excited to launch its new initiative the “African Research and Innovation Hub @IATF”, during the 4th Intra-African Trade Fair (IATF2025). The key objective is to boost academic research output and increase collaboration between academia, industry, and policy makers across Africa in the bid to drive forward intra-African trade and industrialisation. 

    The platform aims to provide an opportunity for African, Caribbean and Diaspora lecturers, students, and researchers to showcase innovative research and prototypes that contribute towards intra-African trade and industrialisation. It also seeks to develop industry collaborations and exchange knowledge with leading professionals in the field during IATF2025 in Algiers, Algeria from September 4-10, 2025. 

    The African Research and Innovation Hub @IATF aims to promote and commercialise African research and innovation. It also acknowledges that there are many talented and creative Africans across Africa, the Caribbean and the Diaspora, who have brilliant ideas, concepts, publications and prototypes but lack the relevant support required to help them nurture their ideas and commercialise them. 

    The platform provides access to more comprehensive information, relevant data, and literature whilst exposing national researchers to potential investors or venture capitalists who could assist with commercialising their research output and prototypes.  

    A key objective of the Hub is to encourage innovation and entrepreneurship among lecturers and students by connecting them to trade exhibitions, start-up pitches, and networking opportunities with business leaders, potentially leading to new start-ups and increased academic-industry collaborations. It also provides opportunities for networking and potential collaboration with others in academia and practitioners across the continent, research institutions, industry, and policymakers.  

    Researchers, academics and university students are provided with access to information on emerging issues in the field of intra-African trade and can incorporate these into their research programs and academic curricula. Lastly, it enhances the capacity of lecturers and students in understanding and teaching the complexities of trade policies, trade standards, regional economic communities, the African Continental Free Trade Area (AfCFTA) and industrialisation. 

    The hub aims to support the broader objectives of enhancing intra-African trade, fostering economic development, and building a connected, informed, and empowered next generation of African trade and investment leaders across all fields.  This hub will allow students to exhibit their prototype inventions and published research papers on select topics, which are expected to adhere to world-class standards.  

    Mrs. Kanayo Awani, Executive Vice President Intra-African Trade and Export Development at Afreximbank said: “IATF2025 is an important moment for African research and innovation, bringing together the brightest minds from universities and research institutions to contribute towards promoting intra-African trade and industrialisation. The African Research and Innovation Hub @IATF will serve as a groundbreaking platform for African, Caribbean and Diaspora lecturers, students, and researchers to demonstrate their capabilities, and connect with industry leaders, investors, and policymakers. This is more than an opportunity to display research; it’s a unique moment to shape the future of intra-African trade and industrialisation to drive economic growth across the continent.” 

    Entries will be judged by a panel consisting of distinguished trade experts, scholars, and industry leaders from across Africa. The panel will evaluate submissions based on innovation, relevance to African trade and industrialisation, and the potential for practical application.  

    Candidates should demonstrate a number of key criteria – including academic excellence and a passion for advancing research on intra-African trade, industrialisation, leadership and initiative in projects related to trade, industrialisation and innovation, and regional economic integration; high-quality research outputs or innovative prototypes aligned with IATF’s themes and a commitment to furthering knowledge and collaboration by sharing insights from the event with their academic institutions. 

    University Lecturers, University Students, and Researchers Affiliated with National Research Institutions from Africa, the Diaspora including the Caribbean are invited to submit their applications directly through this email: ARIH@intrafricantradefair.com by 28 March 2025, 23:59 GMT

    You can find out the eligibility criteria, application requirements and other details on the IATF2025 website: https://apo-opa.co/3EeHRvj

    MIL OSI Africa

  • MIL-OSI United Kingdom: expert reaction to new AI Chatbot DeepSeek

    Source: United Kingdom – Executive Government & Departments

    Scientists comment on DeepSeek, a new AI Chatbot. 

    Prof Neil Lawrence, DeepMind Professor of Machine Learning at Department of Computer Science and Technology, University of Cambridge, said:

    “I think the progress is unsurprising, and I think it’s just the tip of the iceberg in terms of the type of innovation we can expect in these models. History shows that big firms struggle to innovate as they scale, and what we’ve seen from many of these big firms is a substitution of compute investment for the intellectual hard work. I’ve been suggesting that this has made the conditions ideal for a “Dreadnaught moment” where current technology is rapidly rendered redundant by new thinking. I don’t think DeepSeek is it, because the innovations deployed are relatively incremental, but it shows that we’re still in the age of the Newcomen engine, there’s plenty of space for budding James Watts to emerge, and that they are less likely to come from established players.”

    Comment provided by the SMC pilot for Ireland:

    Dr Deepak Padmanabhan, Senior Lecturer, School of Electronics, Electrical Engineering and Computer Science, Queen’s University Belfast, said:

    “DeepSeek is causing massive disruption in financial markets. Mainstream narratives contrast the technology with ChatGPT and illustrate the differences in technological aspects. The far more long-reaching effect it would have would not be technological, it would be political, for it could disrupt the paradigms entrenched in the tech industry in substantive ways. There could be several aspects:

    “Open-Source Software: DeepSeek’s code to train AI models is open source. This means that anybody can download the code and use it to develop their own AI. This is a significant step towards democratisation of AI. The open-source availability of code for an AI that competes well with contemporary commercial models is a significant change. Yet, if one is to download and run the code to develop their own AI, they would still need to have access to large datasets and tremendous computational power – but this is nevertheless a massive step forward.

    “Computational Power: AI has been noted to pose massive computational requirements over the past decade leading to corporate dominance in AI research [ https://www.science.org/doi/10.1126/science.ade2420 ]. With massive compute requirements yielding well to monopolisation of the space, big tech, and the government funding landscape (that are in turn influenced by big tech) have shown limited interests in prioritising AI research towards reducing computational requirements. DeepSeek’s models have been noted to require far lesser computational requirements than today’s commercial models. This could potentially ignite new interest in reducing computational requirements for future AI, with positive effects towards environment.

    “No plans for Commercialisation: It has been highlighted that DeepSeek has no plans for commercialisation [ https://www.chinatalk.media/p/deepseek-ceo-interview-with-chinas ]. This makes it a very interesting development in that this marks a moment when a player with qualitatively different ideas enters a commercially-dominated space. This is a change against the prevailing trends – OpenAI was noted as moving to a full commercial model (from a partly non-profit model) in recent times. It may be interesting how commercial players respond to this challenge.

    “In other words, the entry of DeepSeek could potentially hasten a paradigm shift in AI and pose a real challenge to commercial dominance in the sector. It may be a little too far to see this as a pathway towards taking AI into public hands, but that’s the direction of travel that DeepSeek brings to the table.

    “Cheaper AI, Pervasive AI: One of the potential first effects would be cheaper consumer AI, and a fall in the profit margins within the tech sector. But it could also accelerate disruption by making AI pervasive, bringing more sectors and more jobs under threat.

    “Cautious Optimism: It may be tempting to hope that open-source AI would lead to effects similar to what was seen in the 1990s when the dominance of Microsoft’s windows was challenged very well by open-source Linux. Yet, AI is not just software and computational resources – there is data too. So, there are further hurdles to overcome. We could view this development with optimism, but we must be cautious. For example, the ethos of the open-source movement was diluted with corporate players substantively entering the system leading to what has been called a ‘Corporate dominance in Open Source Ecosystems’ [ https://dl.acm.org/doi/10.1145/3540250.3549117 ]. To develop, sustain and strengthen open-source ethos within AI would require many more developments in the same direction as DeepSeek.”

    Declared interests

    Prof Neil Lawrence: No conflicts.

    Dr Padmanabhan: None

    MIL OSI United Kingdom

  • MIL-OSI: CareCloud to Present at The Microcap Conference 2025

    Source: GlobeNewswire (MIL-OSI)

    Somerset, NJ, Jan. 28, 2025 (GLOBE NEWSWIRE) — CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDO, CCLDP), a leading provider of healthcare technology and generative AI solutions for medical practices and health systems nationwide, is pleased to announce its participation in The Microcap Conference 2025, the premier event for growth-focused companies and investors. The conference will take place January 28-30, 2025 at the Borgata Hotel Spa & Casino in Atlantic City, NJ.

    CareCloud’s management team will deliver a corporate presentation highlighting the Company’s recent developments, innovative solutions, and strategic growth initiatives. Additionally, the team will participate in one-on-one meetings with institutional and individual investors to explore opportunities and discuss CareCloud’s roadmap for continued growth and value creation.

    “We are excited to discuss CareCloud’s many recent milestones, including the imminent resumption of our Preferred Stock dividends in February 2025, the overwhelming support we received from shareholders in our most recent proxy to increase our authorized common shares, and our strong profitability growth during 2024,” said Stephen Snyder, Co-CEO of CareCloud. “These achievements, together with our stock performance over the last year, reflect investor confidence in our strategy and execution.”

    About The Microcap Conference 2025

    The Microcap Conference is the largest independent microcap event in the U.S., bringing together top-tier investors and executives from growth-oriented companies. The event provides an unparalleled platform for companies to showcase their value propositions through corporate presentations, expert panels, and networking opportunities.

    The 2025 conference highlights include:

    • Keynote Speakers: Renowned industry leaders, including Jon Ledecky, Co-Owner of the New York Islanders, and Tom Gardner, CEO of Motley Fool, will share their insights on investing and market trends.
    • Expert Panels and Presentations: Financial commentators Ron Insana (CNBC) and Charlie Gasparino (FOX Business) will cover pressing topics, including capital formation, regulatory updates, and equity market trends.
    • Entertainment Headliner: Comedian and Netflix star Tom Papa will headline an evening performance, adding a touch of entertainment to the event.

    Hosted by DealFlow Events, The Microcap Conference is celebrated for combining high-quality financial insights with engaging networking and entertainment experiences. For more information, visit The Microcap Conference.

    About CareCloud

    CareCloud brings disciplined innovation to the business of healthcare. Our suite of technology-enabled solutions helps clients increase financial and operational performance, streamline clinical workflows and improve the patient experience. More than 40,000 providers count on CareCloud to help them improve patient care, while reducing administrative burdens and operating costs. Learn more about our products and services, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), business intelligence, patient experience management (PXM) and digital health at www.carecloud.com.

    To listen to video presentations by CareCloud’s management team, read recent press releases and view our latest investor presentation, please visit ir.carecloud.com.

    Follow CareCloud on LinkedIn, X and Facebook.

    Forward-Looking Statements

    This press release contains various forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “shall,” “should,” “could,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “seeks,” “estimates,” “forecasts,” “predicts,” “possible,” “potential,” “target,” or “continue” or the negative of these terms or other comparable terminology.

    Our operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements in this press release include, without limitation, statements reflecting management’s expectations for future financial performance and operating expenditures, expected growth, profitability and business outlook, the impact of pandemics on our financial performance and business activities, and the expected results from the integration of our acquisitions.

    These forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our (or our industry’s) actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all of the risks and uncertainties that could have an impact on the forward-looking statements, including without limitation, risks and uncertainties relating to the Company’s ability to manage growth, migrate newly acquired customers and retain new and existing customers, maintain cost-effective global operations, increase operational efficiency and reduce operating costs, predict and properly adjust to changes in reimbursement and other industry regulations and trends, retain the services of key personnel, develop new technologies, upgrade and adapt legacy and acquired technologies to work with evolving industry standards, compete with other companies’ products and services competitive with ours, and other important risks and uncertainties referenced and discussed under the heading titled “Risk Factors” in the Company’s filings with the Securities and Exchange Commission.

    The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligations to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    SOURCE CareCloud

    Company Contact:
    Norman Roth
    Interim Chief Financial Officer and Corporate Controller
    CareCloud, Inc.
    nroth@carecloud.com

    Investor Contact:
    Stephen Snyder
    Co-Chief Executive Officer
    CareCloud, Inc.
    ir@carecloud.com

    The MIL Network

  • MIL-OSI: Sandy Spring Bancorp Announces Fourth Quarter Results

    Source: GlobeNewswire (MIL-OSI)

    OLNEY, Md., Jan. 28, 2025 (GLOBE NEWSWIRE) — Sandy Spring Bancorp, Inc. (Nasdaq-SASR), the parent company of Sandy Spring Bank, reported a net loss of $39.5 million ($0.87 per diluted common share) for the quarter ended December 31, 2024, compared to net income of $16.2 million ($0.36 per diluted common share) for the third quarter of 2024 and $26.1 million ($0.58 per diluted common share) for the fourth quarter of 2023.   The current quarter’s net loss is a result of a $54.4 million goodwill impairment charge determined during our annual goodwill impairment test based on the terms of the merger agreement with Atlantic Union Bankshares Corporation (“AUB”).   The goodwill impairment is a non-cash charge and has no impact on the Company’s regulatory capital ratios, cash flows, core operating performance or liquidity position.

    The current quarter’s core earnings were $21.0 million ($0.47 per diluted common share), compared to $17.9 million ($0.40 per diluted common share) for the quarter ended September 30, 2024 and $27.1 million ($0.60 per diluted common share) for the quarter ended December 31, 2023. Core earnings exclude the goodwill impairment charge, merger and acquisition expense, and the after-tax impact of amortization of intangibles, investment securities gains or losses and other non-recurring or extraordinary items. The current quarter’s increase in core earnings as compared to the linked quarter was driven by higher net interest income coupled with higher non-interest income, and lower provision for credit losses, partially offset by higher adjusted non-interest expense. The total provision for credit losses was $4.5 million for the fourth quarter of 2024 compared to $6.3 million for the previous quarter and a credit of $3.4 million for the fourth quarter of 2023.

    “We are pleased with our fourth quarter results, most notably our improved net interest margin, growth in core earnings, and reductions in brokered deposits,” said Daniel J. Schrider, Chair, President and CEO of Sandy Spring Bank. “We remain focused on serving our clients and building communities in the Greater Washington region.”

    Fourth Quarter Highlights

    • Total assets at December 31, 2024 decreased by 2% to $14.1 billion compared to $14.4 billion at September 30, 2024. This decline is predominantly driven by a $200.0 million reduction in FHLB advances and a resulting $231.4 million decline in cash and cash equivalents quarter-over-quarter.
    • Total loans remained level at $11.5 billion as of December 31, 2024 compared to September 30, 2024. During the current quarter, AD&C and commercial business loans and lines increased by $71.7 million and $32.2 million, respectively, while the commercial investor real estate segment declined by $88.9 million. Total residential mortgage and consumer loan portfolios increased by $19.6 million during this period.
    • Total deposits stayed relatively unchanged at $11.7 billion at December 31, 2024 compared to September 30, 2024. Interest-bearing deposits increased $106.1 million, while noninterest-bearing deposits declined $98.1 million. Growth in interest-bearing deposits was mainly experienced within interest checking accounts, which grew $122.9 million during the current quarter, while decline in noninterest-bearing deposit categories was driven by lower balances in commercial checking accounts. Total deposits, excluding brokered deposits, increased by $32.0 million quarter-over-quarter and represented 94% of total deposits as of December 31, 2024.
    • The ratio of non-performing loans to total loans was 1.03% at December 31, 2024 compared to 1.09% at September 30, 2024 and 0.81% at December 31, 2023. The current quarter’s decline in non-performing loans was mainly related to pay downs on several non-accrual loans along with a single commercial real estate loan that returned to an accrual status.
    • Net interest income for the fourth quarter of 2024 grew $4.7 million or 6% compared to the previous quarter and $4.4 million or 5% compared to the fourth quarter of 2023. Compared to the previous quarter, interest income increased by $1.0 million, while interest expense decreased by $3.7 million.
    • The net interest margin was 2.53% for the fourth quarter of 2024 compared to 2.44% for the third quarter of 2024 and 2.45% for the fourth quarter of 2023. Compared to the linked quarter, the rate paid on interest-bearing liabilities decreased 23 basis points, driven by a 26 basis point decline in the rate on interest-bearing deposits, while the yield on interest-earning assets declined by six basis points. The decline in the rate paid on interest-bearing deposits was attributable to a 50 basis point reduction in the federal funds rate during the current quarter and the associated actions taken by management to re-price the Company’s funding base.
    • Provision for credit losses directly attributable to the funded loan portfolio was $4.7 million for the current quarter compared to $6.3 million in the previous quarter and a credit of $2.6 million in the prior year quarter. The current quarter’s provision expense is mainly attributable to a slight deterioration in the projected economic variables coupled with higher qualitative adjustments, partially offset by lower probability of recession. In addition, during the current quarter, the provision for unfunded commitments declined by $0.2 million, a result of higher utilization rates on lines of credit.
    • Non-interest income for the fourth quarter of 2024 increased by 10% or $1.9 million compared to the linked quarter and grew by 31% or $5.1 million compared to the prior year quarter. The quarter-over-quarter increase was mainly due to an increase in income from bank-owned life insurance driven by one-time mortality proceeds received during the current quarter in combination with higher swap fees and higher wealth management income, which was partially offset by lower income from mortgage banking activities.
    • Non-interest expense for the fourth quarter of 2024 increased by $61.3 million compared to the third quarter of 2024 and $67.1 million compared to the prior year quarter, due to the goodwill impairment charge of $54.4 million incurred during the current quarter. Excluding the goodwill impairment charge, adjusted non-interest expense was $79.8 million during the current quarter compared to $72.9 million in the linked quarter. This quarterly increase in adjusted non-interest expense was primarily due to a combination of merger and acquisition expense associated with the pending merger with AUB along with higher salaries and compensation benefits, partially offset by lower professional fees and services.
    • We perform an annual goodwill impairment test as of October 1st of each year. During the current year, we utilized the terms incorporated in the merger agreement between the Company and AUB. The implied value of the Company utilized the stock conversion ratio in the merger agreement and used a weighted average approach to consider both AUB’s most recent closing stock price prior to the merger announcement date, as well as the forward sale price for AUB common stock under the forward sale agreement announced simultaneous with the merger agreement. This valuation method resulted in the estimated fair value of the Company being below its book value and required the recording of a goodwill impairment charge of $54.4 million.
    • Return on average assets (“ROA”) for the quarter ended December 31, 2024 was (1.09)% and return on average tangible common equity (“ROTCE”) was 5.46% compared to 0.46% and 5.88%, respectively, for the third quarter of 2024 and 0.73% and 9.26%, respectively, for the fourth quarter of 2023. On a non-GAAP basis, the current quarter’s core ROA was 0.58% and core ROTCE was 6.80% compared to 0.50% and 5.88%, respectively, for the previous quarter and 0.76% and 9.26%, respectively, for the fourth quarter of 2023.
    • The GAAP efficiency ratio was 124.61% for the fourth quarter of 2024, compared to 72.12% for the third quarter of 2024 and 68.33% for the fourth quarter of 2023. An elevated GAAP efficiency ratio for the current quarter was the result of higher non-interest expense due to the $54.4 million goodwill impairment charge. The non-GAAP efficiency ratio was 67.16% for the fourth quarter of 2024 compared to 69.06% for the third quarter of 2024 and 66.16% for the prior year quarter.

    Balance Sheet and Credit Quality

    Total assets were $14.1 billion at December 31, 2024, as compared to $14.4 billion at September 30, 2024. At December 31, 2024, total loans remained stable at $11.5 billion compared to the previous quarter. During this period, the growth in AD&C and commercial business loans and lines of $71.7 million or 6% and $32.2 million or 2%, respectively, was mostly offset by the decline in commercial investor real estate loans of $88.9 million or 2%. Total residential mortgage and consumer loan portfolios increased by $19.6 million or 1%.

    Deposits stayed relatively unchanged at $11.7 billion at December 31, 2024 compared to September 30, 2024. During this period, noninterest-bearing deposits decreased $98.1 million or 3%, while interest-bearing deposits increased $106.1 million or 1%. The decline in noninterest-bearing deposit categories was driven by decreases in commercial checking accounts. Growth in interest-bearing deposits was seen predominantly in interest checking accounts, which grew $122.9 million or 8% during the current quarter. Total deposits, excluding brokered deposits, increased by $32.0 million quarter-over-quarter and remained at 94% of total deposits as of December 31, 2024 compared to September 30, 2024, reflecting continued strength and stability of the core deposit base. Total uninsured deposits at December 31, 2024 were approximately 37% of total deposits.

    Total borrowings decreased $201.7 million or 23% at December 31, 2024 as compared to the previous quarter, primarily driven by a $200.0 million reduction in FHLB advances, of which $150 million related to scheduled maturities, while $50 million was prepaid generating a $0.5 million gain on debt extinguishment. At December 31, 2024, available unused sources of liquidity, which consist of available FHLB borrowings, fed funds, funds through the Federal Reserve Bank’s discount window, as well as excess cash and unpledged investment securities, totaled $6.3 billion or 147% of uninsured deposits.

    The tangible common equity to tangible assets ratio was 8.84% at December 31, 2024, compared to 8.83% at September 30, 2024.

    At December 31, 2024, the Company had a total risk-based capital ratio of 15.38%, a common equity tier 1 risk-based capital ratio of 11.36%, a tier 1 risk-based capital ratio of 11.36%, and a tier 1 leverage ratio of 9.39%. These risk-based capital ratios compare to a total risk-based capital ratio of 15.53%, a common equity tier 1 risk-based capital ratio of 11.27%, a tier 1 risk-based capital ratio of 11.27%, and a tier 1 leverage ratio of 9.59% at September 30, 2024. All of these ratios remain well in excess of the mandated minimum regulatory requirements.

    Non-performing loans include non-accrual loans and accruing loans 90 days or more past due. At December 31, 2024, non-performing loans totaled $119.4 million, compared to $125.3 million at September 30, 2024 and $91.8 million at December 31, 2023. The ratio of non-performing loans to total loans was 1.03% compared to 1.09% on a linked quarter basis. These levels of non-performing loans compare to 0.81% at December 31, 2023. The current quarter’s decline in non-performing loans was mainly related to pay downs on several non-accrual loans along with a single commercial real estate loan that returned to an accrual status based on the borrower’s historical payment performance. Total net charge-offs for the current quarter amounted to $1.7 million compared to $0.7 million for the third quarter of 2024 and net recoveries of $0.1 million for the fourth quarter of 2023.

    At December 31, 2024, the allowance for credit losses was $134.4 million or 1.16% of outstanding loans and 113% of non-performing loans, compared to $131.4 million or 1.14% of outstanding loans and 105% of non-performing loans at the end of the previous quarter and $120.9 million or 1.06% of outstanding loans and 132% of non-performing loans at the end of the fourth quarter of 2023. The increase in the allowance for the current quarter compared to the previous quarter mainly reflects slight deterioration in the projected economic variables coupled with higher qualitative adjustments, partially offset by lower probability of economic recession.

    Income Statement Review

    Quarterly Results

    Net loss was $39.5 million ($0.87 per diluted common share) for the three months ended December 31, 2024 compared to net income of $16.2 million ($0.36 per diluted common share) for the three months ended September 30, 2024 and $26.1 million ($0.58 per diluted common share) for the prior year quarter. The current quarter’s net loss is predominantly related to the $54.4 million goodwill impairment charge.   The current quarter’s core earnings were $21.0 million ($0.47 per diluted common share), compared to $17.9 million ($0.40 per diluted common share) for the previous quarter and $27.1 million ($0.60 per diluted common share) for the quarter ended December 31, 2023. The increase in the current quarter’s core earnings compared to the linked quarter was driven primarily by higher net interest income and non-interest income, and lower provision for credit losses, partially offset by higher adjusted non-interest expense.

    Net interest income for the fourth quarter of 2024 increased $4.7 million or 6% compared to the previous quarter and $4.4 million or 5% compared to the fourth quarter of 2023. During the current quarter, interest income increased $1.0 million, while interest expense declined $3.7 million. The higher interest rate environment during the current year was primarily responsible for a $5.4 million year-over-year increase in interest income, which outpaced the $1.0 million year-over-year growth in interest expense.

    The net interest margin was 2.53% for the fourth quarter of 2024 compared to 2.44% for the third quarter of 2024 and 2.45% for the fourth quarter of 2023. The increase in the net interest margin during the current quarter was a result of a 23 basis point decrease in the rate paid on interest-bearing liabilities, driven by a 26 basis point decline in the rate paid on interest-bearing deposits, while the yield earned on interest-earning assets declined by six basis points. As compared to the prior year quarter, the yield on interest-earning assets increased eight basis points, while the rate paid on interest-bearing liabilities declined nine basis points, resulting in net interest margin increase of eight basis points.

    The total provision for credit losses was $4.5 million for the fourth quarter of 2024 compared to $6.3 million for the previous quarter and a credit of $3.4 million for the fourth quarter of 2023. The provision for credit losses directly attributable to the funded loan portfolio was $4.7 million for the current quarter compared to $6.3 million for the third quarter of 2024 and a credit of $2.6 million for the fourth quarter of 2023. The current quarter’s provision is mainly a reflection of a slight deterioration in the projected economic variables along with higher qualitative adjustments, partially offset by lower probability of economic recession. In addition, during the current quarter, the reserve for unfunded commitments declined to $1.3 million from $1.5 million in the previous quarter due to higher utilization rates on lines of credit.

    Non-interest income for the fourth quarter of 2024 increased by 10% or $1.9 million compared to the linked quarter and grew by 31% or $5.1 million compared to the prior year quarter. The current quarter’s increase in non-interest income as compared to the previous quarter was mainly driven by the $1.9 million increase in income from bank owned life insurance, generated by one-time mortality proceeds, $0.4 million of swap fee income, and $0.2 million increase in wealth management income, due to the overall favorable market performance, partially offset by $0.4 million decrease in income from mortgage banking activities, due to lower sales volumes.

    Non-interest expense for the fourth quarter of 2024 increased $61.3 million or 84% compared to the third quarter of 2024 and $67.1 million or 100% compared to the fourth quarter of 2023. The increase over the comparative quarters was primarily due to the goodwill impairment charge of $54.4 million in the fourth quarter of 2024. Excluding the goodwill impairment charge, adjusted non-interest expense increased $6.9 million or 9% compared to the linked quarter. This quarter-over-quarter increase is predominantly attributable to $4.2 million in merger and acquisition expenses incurred during the current quarter, a $3.3 million increase in salaries and benefits, due to an increase in employee incentive compensation, and a $0.7 million increase in marketing expense. These increases were partially offset by the $1.8 million reduction in professional fees and services.

    For the fourth quarter of 2024, the GAAP efficiency ratio was 124.61% compared to 72.12% for the third quarter of 2024 and 68.33% for the fourth quarter of 2023. The non-GAAP efficiency ratio was 67.16% for the current quarter as compared to 69.06% for the third quarter of 2024 and 66.16% for the fourth quarter of 2023.

    ROA for the quarter ended December 31, 2024 was (1.09)% and ROTCE was 5.46% compared to 0.46% and 5.88%, respectively, for the third quarter of 2024 and 0.73% and 9.26%, respectively, for the fourth quarter of 2023. On a non-GAAP basis, the current quarter’s core ROA was 0.58% and core ROTCE was 6.80% compared to 0.50% and 5.88% for the third quarter of 2024 and 0.76% and 9.26%, respectively, for the fourth quarter of 2023.

    Explanation of Non-GAAP Financial Measures

    This news release contains financial information and performance measures determined by methods other than in accordance with generally accepted accounting principles in the United States (“GAAP”). The Company’s management believes that the supplemental non-GAAP information provides a better comparison of period-to-period operating performance. Additionally, the Company believes this information is utilized by regulators and market analysts to evaluate a company’s financial condition and, therefore, such information is useful to investors. Non-GAAP measures used in this release consist of the following:

    • Tangible common equity and related measures are non-GAAP measures that exclude the impact of goodwill and other intangible assets.
    • The non-GAAP efficiency ratio excludes goodwill impairment loss, merger and acquisition expense, amortization of intangible assets, investment securities gains/(losses), pension settlement expense, severance expense, contingent payment expense, and includes tax-equivalent income.
    • Core earnings and the related measures of core earnings per diluted common share, core return on average assets and core return on average tangible common equity reflect net income exclusive of goodwill impairment loss, merger and acquisition expense, and after-tax impact of amortization of intangible assets, investment securities gains/(losses) and other non-recurring or extraordinary items.
    • Pre-tax pre-provision net income excludes income tax expense and the provision (credit) for credit losses.

    These disclosures should not be viewed as a substitute for financial results in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Please refer to the non-GAAP Reconciliation tables included with this release for a reconciliation of these non-GAAP measures to the most directly comparable GAAP measure.

    About Sandy Spring Bancorp, Inc.

    Sandy Spring Bancorp, Inc., headquartered in Olney, Maryland, is the holding company for Sandy Spring Bank, a premier community bank in the Greater Washington, D.C. region. With over 50 locations, the bank offers a broad range of commercial and retail banking, mortgage, private banking, and trust services throughout Maryland, Virginia, and Washington, D.C. Through its subsidiaries, Rembert Pendleton Jackson and West Financial Services, Inc., Sandy Spring Bank also offers a comprehensive menu of wealth management services.

    Source: Sandy Spring Bancorp, Inc.
    Code: SASR-E

      For additional information or questions, please contact:
        Daniel J. Schrider, Chair, President & Chief Executive Officer, or
        Charles S. Cullum, E.V.P. & Chief Financial Officer
        Sandy Spring Bancorp
        17801 Georgia Avenue
        Olney, Maryland 20832
        1-800-399-5919
        Email: DSchrider@sandyspringbank.com 
          CCullum@sandyspringbank.com 
           
        Website: www.sandyspringbank.com
        Media Contact:
        Jennifer E. Schell, Division Executive, Marketing & Corporate Communications
        301-774-6400 x8331
        jschell@sandyspringbank.com 
           

    Forward-Looking Statements

    Sandy Spring Bancorp’s forward-looking statements are subject to significant risks and uncertainties that may cause actual results to differ materially from those in such statements. These risks and uncertainties include, but are not limited to, the risks identified in our quarterly and annual reports and the following: changes in general business and economic conditions nationally or in the markets that we serve; changes in consumer and business confidence, investor sentiment, or consumer spending or savings behavior; changes in the level of inflation; changes in the demand for loans, deposits and other financial services that we provide; the possibility that future credit losses may be higher than currently expected; the impact of the interest rate environment on our business, financial condition and results of operations; the impact of compliance with changes in laws, regulations and regulatory interpretations, including changes in income taxes; changes in credit ratings assigned to us or our subsidiaries; competitive pressures among financial services companies; the ability to attract, develop and retain qualified employees; our ability to maintain the security of our data processing and information technology systems; the impact of changes in accounting policies, including the introduction of new accounting standards; the impact of judicial or regulatory proceedings; the impact of fiscal and governmental policies of the United States federal government; the impact of health emergencies, epidemics or pandemics; the effects of climate change; and the impact of natural disasters, extreme weather events, military conflict, terrorism or other geopolitical events; the possibility that the Company’s pending merger with AUB does not close when expected or at all because required regulatory or other approvals or conditions to closing are not received or satisfied on a timely basis or at all (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger); the risk that the benefits from the merger may not be fully realized or may take longer to realize than expected; and the risk of disruption to the Company’s business as a result of the pendency of the merger;. Sandy Spring Bancorp provides greater detail regarding some of these factors in its Form 10-K for the year ended December 31, 2023 and its Form 10-Q for the quarter ended September 30, 2024, including in the Risk Factors section of those reports, and in its other SEC reports. Sandy Spring Bancorp’s forward-looking statements may also be subject to other risks and uncertainties, including those that it may discuss elsewhere in this news release or in its filings with the SEC, accessible on the SEC’s Web site at www.sec.gov

    Sandy Spring Bancorp, Inc. and Subsidiaries
    FINANCIAL HIGHLIGHTS – UNAUDITED

        Three Months Ended
    December 31,
      %
    Change
      Year Ended
    December 31,
      %
    Change
    (Dollars in thousands, except per share data)     2024       2023         2024       2023    
    Results of operations:                        
    Net interest income   $ 86,086     $ 81,696     5 %   $ 327,126     $ 354,550     (8 )%
    Provision/ (credit) for credit losses     4,468       (3,445 )   N/M       14,192       (17,561 )   N/M  
    Non-interest income     21,646       16,560     31       79,315       67,078     18  
    Non-interest expense     134,241       67,142     100       343,288       275,054     25  
    Income/ (loss) before income tax expense     (30,977 )     34,559     N/M       48,961       164,135     (70 )
    Net income/ (loss)     (39,453 )     26,100     N/M       19,935       122,844     (84 )
                               
    Net income/ (loss) attributable to common shareholders   $ (39,457 )   $ 26,066     N/M     $ 19,902     $ 122,621     (84 )
    Pre-tax pre-provision net income/ (loss) (1)   $ (26,509 )   $ 31,114     N/M     $ 63,153     $ 146,574     (57 )
                               
    Return on average assets     (1.09 )%     0.73 %           0.14 %     0.87 %    
    Return on average common equity     (9.70 )%     6.70 %           1.25 %     8.04 %    
    Return on average tangible common equity (1)     5.46 %     9.26 %           6.73 %     11.06 %    
    Net interest margin     2.53 %     2.45 %           2.46 %     2.67 %    
    Efficiency ratio – GAAP basis (2)     124.61 %     68.33 %           84.46 %     65.24 %    
    Efficiency ratio – Non-GAAP basis (2)     67.16 %     66.16 %           67.07 %     60.99 %    
                               
    Per share data:                          
    Basic net income/ (loss) per common share   $ (0.87 )   $ 0.58     N/M     $ 0.44     $ 2.74     (84 )%
    Diluted net income/ (loss) per common share   $ (0.87 )   $ 0.58     N/M     $ 0.44     $ 2.73     (84 )
    Weighted average diluted common shares     45,133,834       45,009,574           45,227,487       44,947,263     1  
    Dividends declared per share   $ 0.34     $ 0.34         $ 1.36     $ 1.36      
    Book value per common share   $ 34.51     $ 35.36     (2 )   $ 34.51     $ 35.36     (2 )
    Tangible book value per common share (1)   $ 26.99     $ 26.64     1     $ 26.99     $ 26.64     1  
    Outstanding common shares     45,140,417       44,913,561     1       45,140,417       44,913,561     1  
                             
    Financial condition at period-end:                        
    Investment securities   $ 1,418,244     $ 1,414,453     %   $ 1,418,244     $ 1,414,453     %
    Loans     11,537,966       11,366,989     2       11,537,966       11,366,989     2  
    Assets     14,127,480       14,028,172     1       14,127,480       14,028,172     1  
    Deposits     11,745,665       10,996,538     7       11,745,665       10,996,538     7  
    Stockholders’ equity     1,558,011       1,588,142     (2 )     1,558,011       1,588,142     (2 )
                             
    Capital ratios:                        
    Tier 1 leverage (3)     9.39 %     9.51 %         9.39 %     9.51 %    
    Common equity tier 1 capital to risk-weighted assets (3)     11.36 %     10.90 %         11.36 %     10.90 %    
    Tier 1 capital to risk-weighted assets (3)     11.36 %     10.90 %         11.36 %     10.90 %    
    Total regulatory capital to risk-weighted assets (3)     15.38 %     14.92 %         15.38 %     14.92 %    
    Tangible common equity to tangible assets (4)     8.84 %     8.77 %         8.84 %     8.77 %    
    Average equity to average assets     11.26 %     10.97 %         11.31 %     10.87 %    
                             
    Credit quality ratios:                        
    Allowance for credit losses to loans     1.16 %     1.06 %         1.16 %     1.06 %    
    Non-performing loans to total loans     1.03 %     0.81 %         1.03 %     0.81 %    
    Non-performing assets to total assets     0.87 %     0.65 %         0.87 %     0.65 %    
    Allowance for credit losses to non-performing loans     112.59 %     131.59 %         112.59 %     131.59 %    
    Annualized net charge-offs/ (recoveries) to average loans (5)     0.06 %     %         0.03 %     0.01 %    

    N/M – not meaningful

    (1) Represents a non-GAAP measure.
    (2) The efficiency ratio – GAAP basis is non-interest expense divided by net interest income plus non-interest income from the Condensed Consolidated Statements of Income. The traditional efficiency ratio – Non-GAAP basis excludes goodwill impairment loss, merger and acquisition expense, intangible asset amortization, pension settlement expense, severance expense and contingent payment expense from non-interest expense; and investment securities gains/ (losses) from non-interest income; and adds the tax-equivalent adjustment to net interest income. See the Reconciliation Table included with these Financial Highlights.
    (3) Estimated ratio at December 31, 2024.
    (4) The tangible common equity to tangible assets ratio is a non-GAAP ratio that divides assets excluding goodwill and other intangible assets into stockholders’ equity after deducting goodwill and other intangible assets. See the Reconciliation Table included with these Financial Highlights.
    (5) Calculation utilizes average loans, excluding residential mortgage loans held-for-sale.
       

    Sandy Spring Bancorp, Inc. and Subsidiaries
    RECONCILIATION TABLE – UNAUDITED (CONTINUED)
    OPERATING EARNINGS – METRICS

        Three Months Ended
    December 31,
      Year Ended
    December 31,
    (Dollars in thousands)     2024       2023       2024       2023  
    Core earnings (non-GAAP):                
    Net income/ (loss) (GAAP)   $ (39,453 )   $ 26,100     $ 19,935     $ 122,844  
    Plus/ (less) non-GAAP adjustments:                
    Merger, acquisition and disposal expense(2)     4,164             4,164        
    Amortization of intangible assets (net of tax)(1)     1,937       1,047       6,801       3,898  
    Goodwill impairment loss(2)     54,391             54,391        
    Severance expense (net of tax)(1)                       1,445  
    Pension settlement expense (net of tax)(1)                       6,088  
    Investment securities gains/ losses                        
    Contingent payment expense (net of tax)(1)                       27  
    Core earnings (Non-GAAP)   $ 21,039     $ 27,147     $ 85,291     $ 134,302  
                     
    Core earnings per diluted common share (non-GAAP):                
    Weighted average common shares outstanding – diluted (GAAP)     45,133,834       45,009,574       45,227,487       44,947,263  
                     
    Earnings/ (loss) per diluted common share (GAAP)   $ (0.87 )   $ 0.58     $ 0.44     $ 2.73  
    Core earnings per diluted common share (non-GAAP)   $ 0.47     $ 0.60     $ 1.89     $ 2.99  
                     
    Core return on average assets (non-GAAP):                
    Average assets (GAAP)   $ 14,362,321     $ 14,090,423     $ 14,129,795     $ 14,055,645  
                     
    Return on average assets (GAAP)     (1.09 )%     0.73 %     0.14 %     0.87 %
    Core return on average assets (non-GAAP)     0.58 %     0.76 %     0.60 %     0.96 %
                     
    Return/ Core return on average tangible common equity (non-GAAP):                
    Net Income/ (loss) (GAAP)   $ (39,453 )   $ 26,100     $ 19,935     $ 122,844  
    Plus: Amortization of intangible assets (net of tax)(1)     1,937       1,047       6,801       3,898  
    Plus: Goodwill impairment loss(2)     54,391             54,391        
    Net income adjusted (non-GAAP)   $ 16,875     $ 27,147     $ 81,127     $ 126,742  
                     
    Average total stockholders’ equity (GAAP)   $ 1,617,633     $ 1,546,312     $ 1,597,456     $ 1,528,242  
    Average goodwill     (356,341 )     (363,436 )     (361,653 )     (363,436 )
    Average other intangible assets, net     (30,885 )     (20,162 )     (30,178 )     (18,596 )
    Average tangible common equity (non-GAAP)   $ 1,230,407     $ 1,162,714     $ 1,205,625     $ 1,146,210  
                     
    Return on average tangible common equity (non-GAAP)     5.46 %     9.26 %     6.73 %     11.06 %
    Core return on average tangible common equity (non-GAAP)     6.80 %     9.26 %     7.07 %     11.72 %
    (1) Tax adjustments have been determined using the combined marginal federal and state rate of 25.48% and 25.37% for 2024 and 2023, respectively.
    (2) Adjustment is not tax-effected as it represents a tax nondeductible item.
       

    Sandy Spring Bancorp, Inc. and Subsidiaries
    RECONCILIATION TABLE – UNAUDITED

        Three Months Ended
    December 31,
      Year Ended
    December 31,
    (Dollars in thousands)     2024       2023       2024       2023  
    Pre-tax pre-provision net income:                
    Net income/ (loss) (GAAP)   $         (39,453 )   $         26,100     $         19,935     $         122,844  
    Plus/ (less) non-GAAP adjustments:                
    Income tax expense             8,476               8,459               29,026               41,291  
    Provision/ (credit) for credit losses             4,468               (3,445 )             14,192               (17,561 )
    Pre-tax pre-provision net income/ (loss) (non-GAAP)   $ (26,509 )   $ 31,114     $ 63,153     $ 146,574  
                     
    Efficiency ratio (GAAP):                
    Non-interest expense   $ 134,241     $ 67,142     $ 343,288     $ 275,054  
                     
    Net interest income plus non-interest income   $ 107,732     $ 98,256     $ 406,441     $ 421,628  
                     
    Efficiency ratio (GAAP)     124.61 %     68.33 %     84.46 %     65.24 %
                     
    Efficiency ratio (Non-GAAP):                
    Non-interest expense   $ 134,241     $ 67,142     $ 343,288     $ 275,054  
    Less non-GAAP adjustments:                
    Amortization of intangible assets     2,599       1,403       9,126       5,223  
    Merger, acquisition and disposal expense     4,164             4,164        
    Goodwill impairment loss     54,391             54,391        
    Severance expense                       1,939  
    Pension settlement expense                       8,157  
    Contingent payment expense                       36  
    Non-interest expense – as adjusted   $ 73,087     $ 65,739     $ 275,607     $ 259,699  
                     
    Net interest income plus non-interest income   $ 107,732     $ 98,256     $ 406,441     $ 421,628  
    Plus non-GAAP adjustment:                
    Tax-equivalent income     1,100       1,113       4,459       4,157  
    Less/ (plus) non-GAAP adjustment:                
    Investment securities gains/ (losses)                        
    Net interest income plus non-interest income – as adjusted   $ 108,832     $ 99,369     $ 410,900     $ 425,785  
                     
    Efficiency ratio (Non-GAAP)     67.16 %     66.16 %     67.07 %     60.99 %
                     
    Tangible common equity ratio:                
    Total stockholders’ equity   $ 1,558,011     $ 1,588,142     $ 1,558,011     $ 1,588,142  
    Goodwill     (309,045 )     (363,436 )     (309,045 )     (363,436 )
    Other intangible assets, net     (30,748 )     (28,301 )     (30,748 )     (28,301 )
    Tangible common equity   $ 1,218,218     $ 1,196,405     $ 1,218,218     $ 1,196,405  
                     
    Total assets   $ 14,127,480     $ 14,028,172     $ 14,127,480     $ 14,028,172  
    Goodwill     (309,045 )     (363,436 )     (309,045 )     (363,436 )
    Other intangible assets, net     (30,748 )     (28,301 )     (30,748 )     (28,301 )
    Tangible assets   $ 13,787,687     $ 13,636,435     $ 13,787,687     $ 13,636,435  
                     
    Tangible common equity ratio     8.84 %     8.77 %     8.84 %     8.77 %
                     
    Outstanding common shares     45,140,417       44,913,561       45,140,417       44,913,561  
    Tangible book value per common share   $ 26.99     $ 26.64     $ 26.99     $ 26.64  
                                     

    Sandy Spring Bancorp, Inc. and Subsidiaries
    CONDENSED CONSOLIDATED STATEMENTS OF CONDITION – UNAUDITED

    (Dollars in thousands)   December 31,
    2024
      December 31,
    2023
    Assets        
    Cash and due from banks   $ 80,698     $ 82,257  
    Federal funds sold           245  
    Interest-bearing deposits with banks     438,265       463,396  
    Cash and cash equivalents     518,963       545,898  
    Residential mortgage loans held for sale (at fair value)     22,757       10,836  
    SBA loans held for sale     715        
    Investments held-to-maturity (fair values of $177,854 and $200,411 at December 31, 2024 and December 31, 2023, respectively)     215,747       236,165  
    Investments available-for-sale (at fair value)     1,140,783       1,102,681  
    Other investments, at cost     61,714       75,607  
    Total loans     11,537,966       11,366,989  
    Less: allowance for credit losses – loans     (134,401 )     (120,865 )
    Net loans     11,403,565       11,246,124  
    Premises and equipment, net     55,998       59,490  
    Other real estate owned     3,265        
    Accrued interest receivable     45,627       46,583  
    Goodwill     309,045       363,436  
    Other intangible assets, net     30,748       28,301  
    Other assets     318,553       313,051  
    Total assets   $ 14,127,480     $ 14,028,172  
             
    Liabilities        
    Noninterest-bearing deposits   $ 2,804,930     $ 2,914,161  
    Interest-bearing deposits     8,940,735       8,082,377  
    Total deposits     11,745,665       10,996,538  
    Securities sold under retail repurchase agreements     68,911       75,032  
    Federal Reserve Bank borrowings           300,000  
    Advances from FHLB     250,000       550,000  
    Subordinated debt     371,400       370,803  
    Total borrowings     690,311       1,295,835  
    Accrued interest payable and other liabilities     133,493       147,657  
    Total liabilities     12,569,469       12,440,030  
             
    Stockholders’ equity        
    Common stock — par value $1.00; shares authorized 100,000,000; shares issued and outstanding 45,140,417 and 44,913,561 at December 31, 2024 and December 31, 2023, respectively.     45,140       44,914  
    Additional paid in capital     748,905       742,243  
    Retained earnings     856,613       898,316  
    Accumulated other comprehensive loss     (92,647 )     (97,331 )
    Total stockholders’ equity     1,558,011       1,588,142  
    Total liabilities and stockholders’ equity   $ 14,127,480     $ 14,028,172  
                     

    Sandy Spring Bancorp, Inc. and Subsidiaries
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME – UNAUDITED

        Three Months Ended
    December 31,
      Year Ended
    December 31,
    (Dollars in thousands, except per share data)     2024       2023       2024     2023  
    Interest income:                
    Interest and fees on loans   $ 153,262     $ 148,655     $ 609,571   $ 579,960  
    Interest on mortgage loans held for sale     249       199       1,050     896  
    Interest on SBA loans held for sale     21             23      
    Interest on deposits with banks     7,997       8,456       25,398     22,435  
    Interest and dividend income on investment securities:                
    Taxable     7,821       6,454       29,140     26,992  
    Tax-advantaged     1,697       1,848       7,082     7,224  
    Interest on federal funds sold           4       8     17  
    Total interest income     171,047       165,616       672,272     637,524  
    Interest expense:                
    Interest on deposits     76,111       69,813       303,173     225,028  
    Interest on retail repurchase agreements and federal funds purchased     369       4,075       5,259     14,452  
    Interest on advances from FHLB     3,865       6,086       20,259     27,709  
    Interest on subordinated debt     4,616       3,946       16,455     15,785  
    Total interest expense     84,961       83,920       345,146     282,974  
    Net interest income     86,086       81,696       327,126     354,550  
    Provision/ (credit) for credit losses     4,468       (3,445 )     14,192     (17,561 )
    Net interest income after provision/ (credit) for credit losses     81,618       85,141       312,934     372,111  
    Non-interest income:                
    Service charges on deposit accounts     2,998       2,749       11,763     10,447  
    Mortgage banking activities     1,091       792       5,615     5,536  
    Wealth management income     10,920       9,219       42,071     36,633  
    Income from bank owned life insurance     3,213       1,207       7,496     4,210  
    Bank card fees     457       454       1,750     1,769  
    Other income     2,967       2,139       10,620     8,483  
    Total non-interest income     21,646       16,560       79,315     67,078  
    Non-interest expense:                
    Salaries and employee benefits     44,309       35,482       159,858     160,192  
    Occupancy expense of premises     4,727       4,558       19,005     18,778  
    Equipment expenses     4,252       3,987       15,924     15,675  
    Marketing     2,013       1,242       5,363     5,103  
    Outside data services     3,228       3,000       12,642     11,186  
    FDIC insurance     2,761       2,615       11,396     9,461  
    Amortization of intangible assets     2,599       1,403       9,126     5,223  
    Merger, acquisition and disposal expense     4,164             4,164      
    Professional fees and services     4,805       5,628       21,208     17,982  
    Goodwill impairment loss     54,391             54,391      
    Other expenses     6,992       9,227       30,211     31,454  
    Total non-interest expense     134,241       67,142       343,288     275,054  
    Income/ (loss) before income tax expense     (30,977 )     34,559       48,961     164,135  
    Income tax expense     8,476       8,459       29,026     41,291  
    Net income/ (loss)   $ (39,453 )   $ 26,100     $ 19,935   $ 122,844  
                     
    Net income per share amounts:                
    Basic net income/ (loss) per common share   $ (0.87 )   $ 0.58     $ 0.44   $ 2.74  
    Diluted net income/ (loss) per common share   $ (0.87 )   $ 0.58     $ 0.44   $ 2.73  
    Dividends declared per share   $ 0.34     $ 0.34     $ 1.36   $ 1.36  
                                   

    Sandy Spring Bancorp, Inc. and Subsidiaries
    HISTORICAL TRENDS – QUARTERLY FINANCIAL DATA – UNAUDITED

          2024       2023  
    (Dollars in thousands, except per share data)   Q4   Q3   Q2   Q1   Q4   Q3   Q2   Q1
    Profitability for the quarter:                                
    Tax-equivalent interest income   $ 172,147     $ 171,219     $ 166,252     $ 167,113     $ 166,729     $ 163,479     $ 159,156     $ 152,317  
    Interest expense             84,961       88,686       84,828       86,671       83,920       77,330       67,679       54,045  
    Tax-equivalent net interest income     87,186       82,533       81,424       80,442       82,809       86,149       91,477       98,272  
    Tax-equivalent adjustment     1,100       1,121       1,139       1,099       1,113       1,068       1,006       970  
    Provision/ (credit) for credit losses     4,468       6,316       1,020       2,388       (3,445 )     2,365       5,055       (21,536 )
    Non-interest income     21,646       19,715       19,587       18,367       16,560       17,391       17,176       15,951  
    Non-interest expense     134,241       72,937       68,104       68,006       67,142       72,471       69,136       66,305  
    Income/ (loss) before income tax expense     (30,977 )     21,874       30,748       27,316       34,559       27,636       33,456       68,484  
    Income tax expense     8,476       5,665       7,941       6,944       8,459       6,890       8,711       17,231  
    Net income/ (loss)   $ (39,453 )   $ 16,209     $ 22,807     $ 20,372     $ 26,100     $ 20,746     $ 24,745     $ 51,253  
    GAAP financial performance:                                
    Return on average assets   (1.09)%     0.46 %     0.66 %     0.58 %     0.73 %     0.58 %     0.70 %     1.49 %
    Return on average common equity   (9.70)%     4.01 %     5.81 %     5.17 %     6.70 %     5.35 %     6.46 %     13.93 %
    Return on average tangible common equity     5.46 %     5.88 %     8.27 %     7.39 %     9.26 %     7.42 %     8.93 %     19.10 %
    Net interest margin     2.53 %     2.44 %     2.46 %     2.41 %     2.45 %     2.55 %     2.73 %     2.99 %
    Efficiency ratio – GAAP basis     124.61 %     72.12 %     68.19 %     69.60 %     68.33 %     70.72 %     64.22 %     58.55 %
    Non-GAAP financial performance:                                
    Pre-tax pre-provision net income/ (loss)   $ (26,509 )   $ 28,190     $ 31,768     $ 29,704     $ 31,114     $ 30,001     $ 38,511     $ 46,948  
    Core after-tax earnings   $ 21,039     $ 17,936     $ 24,400     $ 21,916     $ 27,147     $ 27,766     $ 27,136     $ 52,253  
    Core return on average assets     0.58 %     0.50 %     0.70 %     0.63 %     0.76 %     0.78 %     0.77 %     1.52 %
    Core return on average common equity     5.17 %     4.44 %     6.21 %     5.56 %     6.97 %     7.16 %     7.09 %     14.20 %
    Core return on average tangible common equity     6.80 %     5.88 %     8.27 %     7.39 %     9.26 %     9.51 %     9.43 %     19.11 %
    Core earnings per diluted common share   $ 0.47     $ 0.40     $ 0.54     $ 0.49     $ 0.60     $ 0.62     $ 0.60     $ 1.16  
    Efficiency ratio – Non-GAAP basis     67.16 %     69.06 %     65.31 %     66.73 %     66.16 %     60.91 %     60.68 %     56.87 %
    Per share data:                        
    Net income/ (loss) attributable to common shareholders   $ (39,457 )   $ 16,205     $ 22,800     $ 20,346     $ 26,066     $ 20,719     $ 24,712     $ 51,084  
    Basic net income/ (loss) per common share   $ (0.87 )   $ 0.36     $ 0.51     $ 0.45     $ 0.58     $ 0.46     $ 0.55     $ 1.14  
    Diluted net income/ (loss) per common share   $ (0.87 )   $ 0.36     $ 0.51     $ 0.45     $ 0.58     $ 0.46     $ 0.55     $ 1.14  
    Weighted average diluted common shares     45,133,834       45,242,920       45,145,214       45,086,471       45,009,574       44,960,455       44,888,759       44,872,582  
    Dividends declared per share   $ 0.34     $ 0.34     $ 0.34     $ 0.34     $ 0.34     $ 0.34     $ 0.34     $ 0.34  
    Non-interest income:                                
    Service charges on deposit accounts     2,998       3,009       2,939       2,817       2,749       2,704       2,606       2,388  
    Mortgage banking activities     1,091       1,529       1,621       1,374       792       1,682       1,817       1,245  
    Wealth management income     10,920       10,738       10,455       9,958       9,219       9,391       9,031       8,992  
    Income from bank owned life insurance     3,213       1,307       1,816       1,160       1,207       845       1,251       907  
    Bank card fees     457       435       445       413       454       450       447       418  
    Other income     2,967       2,697       2,311       2,645       2,139       2,319       2,024       2,001  
    Total non-interest income   $ 21,646     $ 19,715     $ 19,587     $ 18,367     $ 16,560     $ 17,391     $ 17,176     $ 15,951  
    Non-interest expense:                                
    Salaries and employee benefits   $ 44,309     $ 41,030     $ 37,821     $ 36,698     $ 35,482     $ 44,853     $ 40,931     $ 38,926  
    Occupancy expense of premises     4,727       4,657       4,805       4,816       4,558       4,609       4,764       4,847  
    Equipment expenses     4,252       3,841       3,868       3,963       3,987       3,811       3,760       4,117  
    Marketing     2,013       1,320       1,288       742       1,242       729       1,589       1,543  
    Outside data services     3,228       3,025       3,286       3,103       3,000       2,819       2,853       2,514  
    FDIC insurance     2,761       2,773       2,951       2,911       2,615       2,333       2,375       2,138  
    Amortization of intangible assets     2,599       2,323       2,135       2,069       1,403       1,245       1,269       1,306  
    Merger, acquisition and disposal expense     4,164                                            
    Professional fees and services     4,805       6,577       4,946       4,880       5,628       4,509       4,161       3,684  
    Goodwill impairment loss     54,391                                            
    Other expenses     6,992       7,391       7,004       8,824       9,227       7,563       7,434       7,230  
    Total non-interest expense   $ 134,241     $ 72,937     $ 68,104     $ 68,006     $ 67,142     $ 72,471     $ 69,136     $ 66,305  
                                                                     

    Sandy Spring Bancorp, Inc. and Subsidiaries
    HISTORICAL TRENDS – QUARTERLY FINANCIAL DATA – UNAUDITED

          2024       2023  
    (Dollars in thousands, except per share data)   Q4   Q3   Q2   Q1   Q4   Q3   Q2   Q1
    Balance sheets at quarter end:                            
    Commercial investor real estate loans   $ 4,779,593     $ 4,868,467     $ 4,933,329     $ 4,997,879     $ 5,104,425     $ 5,137,694     $ 5,131,210     $ 5,167,456  
    Commercial owner-occupied real estate loans     1,748,772       1,737,327       1,747,708       1,741,113       1,755,235       1,760,384       1,770,135       1,769,928  
    Commercial AD&C loans     1,327,292       1,255,609       1,184,296       1,090,259       988,967       938,673       1,045,742       1,046,665  
    Commercial business loans     1,653,135       1,620,926       1,601,510       1,509,592       1,504,880       1,454,709       1,423,614       1,437,478  
    Residential mortgage loans     1,537,589       1,529,786       1,521,890       1,511,624       1,474,521       1,432,051       1,385,743       1,328,524  
    Residential construction loans     49,028       53,639       78,027       97,685       121,419       160,345       190,690       223,456  
    Consumer loans     442,557       426,167       417,161       416,132       417,542       416,436       422,505       421,734  
    Total loans     11,537,966       11,491,921       11,483,921       11,364,284       11,366,989       11,300,292       11,369,639       11,395,241  
    Allowance for credit losses – loans     (134,401 )     (131,428 )     (125,863 )     (123,096 )     (120,865 )     (123,360 )     (120,287 )     (117,613 )
    Residential mortgage loans held for sale     22,757       21,489       18,961       16,627       10,836       19,235       21,476       16,262  
    SBA loans held for sale     715       425                                      
    Investment securities     1,418,244       1,440,488       1,401,511       1,405,490       1,414,453       1,392,078       1,463,554       1,528,336  
    Total assets     14,127,480       14,383,073       14,008,343       13,888,133       14,028,172       14,135,085       13,994,545       14,129,007  
    Noninterest-bearing demand deposits     2,804,930       2,903,063       2,931,405       2,817,928       2,914,161       3,013,905       3,079,896       3,228,678  
    Total deposits     11,745,665       11,737,694       11,340,228       11,227,200       10,996,538       11,151,012       10,958,922       11,075,991  
    Customer repurchase agreements     68,911       70,767       75,038       71,529       75,032       66,581       74,510       47,627  
    Total stockholders’ equity     1,558,011       1,628,837       1,599,004       1,589,364       1,588,142       1,537,914       1,539,032       1,536,865  
    Quarterly average balance sheets:                            
    Commercial investor real estate loans   $ 4,825,594     $ 4,874,003     $ 4,964,406     $ 5,057,334     $ 5,125,028     $ 5,125,459     $ 5,146,632     $ 5,136,204  
    Commercial owner-occupied real estate loans     1,739,686       1,741,663       1,734,106       1,746,042       1,755,048       1,769,717       1,773,039       1,769,680  
    Commercial AD&C loans     1,300,966       1,253,035       1,133,506       1,030,763       960,646       995,682       1,057,205       1,082,791  
    Commercial business loans     1,606,641       1,579,001       1,551,798       1,508,336       1,433,035       1,442,518       1,441,489       1,444,588  
    Residential mortgage loans     1,535,924       1,526,445       1,518,748       1,491,277       1,451,614       1,406,929       1,353,809       1,307,761  
    Residential construction loans     47,788       64,684       86,638       110,456       142,325       174,204       211,590       223,313  
    Consumer loans     433,185       421,003       417,206       417,539       419,299       421,189       423,306       424,122  
    Total loans     11,489,784       11,459,834       11,406,408       11,361,747       11,286,995       11,335,698       11,407,070       11,388,459  
    Residential mortgage loans held for sale     13,768       19,889       14,497       8,142       10,132       13,714       17,480       8,324  
    SBA loans held for sale     591       65                                    
    Investment securities     1,542,401       1,531,378       1,538,624       1,536,127       1,544,173       1,589,342       1,639,324       1,679,593  
    Interest-earning assets     13,713,618       13,474,697       13,292,995       13,411,810       13,462,583       13,444,117       13,423,589       13,316,165  
    Total assets     14,362,321       14,136,037       13,956,261       14,061,935       14,090,423       14,086,342       14,094,653       13,949,276  
    Noninterest-bearing demand deposits     2,813,545       2,783,906       2,790,620       2,730,295       2,958,254       3,041,101       3,137,971       3,480,433  
    Total deposits     11,807,983       11,483,524       11,245,476       11,086,145       11,089,587       11,076,724       10,928,038       11,049,991  
    Customer repurchase agreements     65,253       63,436       62,161       72,836       66,622       67,298       58,382       60,626  
    Total interest-bearing liabilities     9,792,134       9,600,905       9,441,015       9,583,074       9,418,666       9,332,617       9,257,652       8,806,720  
    Total stockholders’ equity     1,617,633       1,607,377       1,579,582       1,584,902       1,546,312       1,538,553       1,535,465       1,491,929  
    Financial measures:                                
    Average equity to average assets     11.26 %     11.37 %     11.32 %     11.27 %     10.97 %     10.92 %     10.89 %     10.70 %
    Average investment securities to average earning assets     11.25 %     11.36 %     11.57 %     11.45 %     11.47 %     11.82 %     12.21 %     12.61 %
    Average loans to average earning assets     83.78 %     85.05 %     85.81 %     84.71 %     83.84 %     84.32 %     84.98 %     85.52 %
    Loans to assets     81.67 %     79.90 %     81.98 %     81.83 %     81.03 %     79.94 %     81.24 %     80.65 %
    Loans to deposits     98.23 %     97.91 %     101.27 %     101.22 %     103.37 %     101.34 %     103.75 %     102.88 %
    Assets under management   $ 6,577,150     $ 6,567,752     $ 6,215,697     $ 6,165,509     $ 5,999,520     $ 5,536,499     $ 5,742,888     $ 5,477,560  
    Capital measures:                                
    Tier 1 leverage(1)     9.39 %     9.59 %     9.70 %     9.56 %     9.51 %     9.50 %     9.42 %     9.44 %
    Common equity tier 1 capital to risk-weighted assets(1)     11.36 %     11.27 %     11.28 %     10.96 %     10.90 %     10.83 %     10.65 %     10.53 %
    Tier 1 capital to risk-weighted assets(1)     11.36 %     11.27 %     11.28 %     10.96 %     10.90 %     10.83 %     10.65 %     10.53 %
    Total regulatory capital to risk-weighted assets(1)     15.38 %     15.53 %     15.49 %     15.05 %     14.92 %     14.85 %     14.60 %     14.43 %
    Book value per common share   $ 34.51     $ 36.10     $ 35.45     $ 35.37     $ 35.36     $ 34.26     $ 34.31     $ 34.37  
    Outstanding common shares     45,140,417       45,125,078       45,109,671       44,940,147       44,913,561       44,895,158       44,862,369       44,712,497  
    (1) Estimated ratio at December 31, 2024.
       

    Sandy Spring Bancorp, Inc. and Subsidiaries
    LOAN PORTFOLIO QUALITY DETAIL – UNAUDITED

          2024     2023
    (Dollars in thousands)   December 31,   September 30,   June 30,   March 31,   December 31,   September 30,   June 30,   March 31,
    Non-performing assets:                                
    Loans 90 days past due:                                
    Commercial real estate:                                
    Commercial investor real estate   $   $   $   $   $   $   $   $ 215
    Commercial owner-occupied real estate                                
    Commercial AD&C                                
    Commercial business                 20     20     415     29     3,002
    Residential real estate:                                
    Residential mortgage     232     399     338     340     342         692     352
    Residential construction                                
    Consumer                                
    Total loans 90 days past due     232     399     338     360     362     415     721     3,569
    Non-accrual loans:                                
    Commercial real estate:                                
    Commercial investor real estate     58,071     57,578     55,498     55,579     58,658     20,108     20,381     15,451
    Commercial owner-occupied real estate     7,008     9,639     9,403     4,394     4,640     4,744     4,846     4,949
    Commercial AD&C     31,314     31,816     2,127     556     1,259     1,422     569    
    Commercial business     7,590     9,044     8,455     7,164     10,051     9,671     9,393     9,443
    Residential real estate:                                
    Residential mortgage     10,939     11,996     12,228     11,835     12,332     10,766     10,153     8,935
    Residential construction     521     539     539     542     443     449        
    Consumer     3,697     4,258     4,400     4,011     4,102     4,187     3,396     4,900
    Total non-accrual loans     119,140     124,870     92,650     84,081     91,485     51,347     48,738     43,678
    Total non-performing loans     119,372     125,269     92,988     84,441     91,847     51,762     49,459     47,247
    Other real estate owned (OREO)     3,265     3,265     2,700     2,700         261     611     645
    Total non-performing assets   $ 122,637   $ 128,534   $ 95,688   $ 87,141   $ 91,847   $ 52,023   $ 50,070   $ 47,892
                                                     
        For the Quarter Ended,
    (Dollars in thousands)   December 31,
    2024
      September 30,
    2024
      June 30,
    2024
      March 31,
    2024
      December 31,
    2023
    z September 30,
    2023
      June 30,
    2023
      March 31,
    2023
    Analysis of non-accrual loan activity:                                
    Balance at beginning of period   $ 124,870     $ 92,650     $ 84,081     $ 91,485     $ 51,347     $ 48,738     $ 43,678     $ 34,782  
    Non-accrual balances transferred to OREO           (565 )           (2,700 )                        
    Non-accrual balances charged-off     (1,698 )     (787 )           (1,550 )           (183 )     (2,049 )     (126 )
    Net payments or draws     (5,065 )     (3,095 )     (1,427 )     (4,017 )     (7,619 )     (1,545 )     (1,654 )     (10,212 )
    Loans placed on non-accrual     2,847       36,667       10,038       1,490       47,920       4,967       9,276       19,714  
    Non-accrual loans brought current     (1,814 )           (42 )     (627 )     (163 )     (630 )     (513 )     (480 )
    Balance at end of period   $ 119,140     $ 124,870     $ 92,650     $ 84,081     $ 91,485     $ 51,347     $ 48,738     $ 43,678  
                                     
    Analysis of allowance for credit losses – loans:                                
    Balance at beginning of period   $ 131,428     $ 125,863     $ 123,096     $ 120,865     $ 123,360     $ 120,287     $ 117,613     $ 136,242  
    Provision/ (credit) for credit losses – loans     4,653       6,310       2,961       3,331       (2,574 )     3,171       4,454       (18,945 )
    Less loans charged-off, net of recoveries:                                
    Commercial real estate:                                
    Commercial investor real estate     (3 )     397       (3 )     (2 )     (3 )     (3 )     (14 )     (5 )
    Commercial owner-occupied real estate     (30 )     (27 )     (27 )     (27 )     (27 )     (25 )     (27 )     (26 )
    Commercial AD&C     (23 )     111       (23 )     (283 )                        
    Commercial business     1,656       250       (28 )     1,550       (105 )     15       363       (127 )
    Residential real estate:                                
    Residential mortgage     (7 )     (35 )     39       (6 )     (6 )     (4 )     35       21  
    Residential construction                                                
    Consumer     87       49       236       (132 )     62       115       1,423       (179 )
    Net charge-offs/ (recoveries)     1,680       745       194       1,100       (79 )     98       1,780       (316 )
    Balance at the end of period   $ 134,401     $ 131,428     $ 125,863     $ 123,096     $ 120,865     $ 123,360     $ 120,287     $ 117,613  
                                     
    Asset quality ratios:                                
    Non-performing loans to total loans     1.03 %     1.09 %     0.81 %     0.74 %     0.81 %     0.46 %     0.44 %     0.41 %
    Non-performing assets to total assets     0.87 %     0.89 %     0.68 %     0.63 %     0.65 %     0.37 %     0.36 %     0.34 %
    Allowance for credit losses to total loans     1.16 %     1.14 %     1.10 %     1.08 %     1.06 %     1.09 %     1.06 %     1.03 %
    Allowance for credit losses to non-performing loans     112.59 %     104.92 %     135.35 %     145.78 %     131.59 %     238.32 %     243.21 %     248.93 %
    Annualized net charge-offs/ (recoveries) to average loans     0.06 %     0.03 %     0.01 %     0.04 %     %     %     0.06 %       (0.01 )%
                                                                     

    Sandy Spring Bancorp, Inc. and Subsidiaries
    CONSOLIDATED AVERAGE BALANCES, YIELDS AND RATES – UNAUDITED

        Three Months Ended December 31,
          2024       2023  
    (Dollars in thousands and tax-equivalent)   Average
    Balances
      Interest (1)   Annualized
    Average
    Yield/Rate
      Average
    Balances
      Interest (1)   Annualized
    Average
    Yield/Rate
    Assets                        
    Commercial investor real estate loans   $ 4,825,594     $ 57,898   4.77 %   $ 5,125,028     $ 60,909   4.72 %
    Commercial owner-occupied real estate loans     1,739,686       21,497   4.92       1,755,048       21,011   4.75  
    Commercial AD&C loans     1,300,966       24,303   7.43       960,646       20,510   8.47  
    Commercial business loans     1,606,641       26,374   6.53       1,433,035       23,822   6.60  
    Total commercial loans     9,472,887       130,072   5.46       9,273,757       126,252   5.40  
    Residential mortgage loans     1,535,924       14,676   3.82       1,451,614       12,984   3.58  
    Residential construction loans     47,788       672   5.59       142,325       1,515   4.22  
    Consumer loans     433,185       8,496   7.80       419,299       8,543   8.08  
    Total residential and consumer loans     2,016,897       23,844   4.72       2,013,238       23,042   4.56  
    Total loans (2)     11,489,784       153,916   5.33       11,286,995       149,294   5.25  
    Residential mortgage loans held for sale     13,768       249   7.24       10,132       199   7.86  
    SBA loans held for sale     591       21   14.50                
    Taxable securities     1,214,327       7,821   2.58       1,193,408       6,454   2.16  
    Tax-advantaged securities     328,074       2,143   2.61       350,765       2,322   2.64  
    Total investment securities (3)     1,542,401       9,964   2.58       1,544,173       8,776   2.27  
    Interest-bearing deposits with banks     667,074       7,997   4.77       621,007       8,456   5.40  
    Federal funds sold                   276       4   5.43  
    Total interest-earning assets     13,713,618       172,147   5.00       13,462,583       166,729   4.92  
                             
    Less: allowance for credit losses – loans     (131,565 )             (121,851 )        
    Cash and due from banks     77,280               89,143          
    Premises and equipment, net     56,925               69,162          
    Other assets     646,063               591,386          
    Total assets   $ 14,362,321             $ 14,090,423          
                             
    Liabilities and Stockholders’ Equity                        
    Interest-bearing demand deposits   $ 1,519,835     $ 6,510   1.70 %   $ 1,474,748     $ 5,612   1.51 %
    Regular savings deposits     1,763,353       13,768   3.11       1,153,610       9,715   3.34  
    Money market savings deposits     3,116,359       26,657   3.40       2,697,930       24,456   3.60  
    Time deposits     2,594,891       29,176   4.47       2,805,045       30,030   4.25  
    Total interest-bearing deposits     8,994,438       76,111   3.37       8,131,333       69,813   3.41  
    Repurchase agreements     65,253       327   2.00       66,622       354   2.11  
    Federal funds purchased and Federal Reserve Bank borrowings     3,525       42   4.69       300,000       3,721   4.92  
    Advances from FHLB     357,609       3,865   4.30       550,000       6,086   4.39  
    Subordinated debt     371,309       4,616   4.97       370,711       3,946   4.26  
    Total borrowings     797,696       8,850   4.41       1,287,333       14,107   4.35  
    Total interest-bearing liabilities     9,792,134       84,961   3.45       9,418,666       83,920   3.54  
                             
    Noninterest-bearing demand deposits     2,813,545               2,958,254          
    Other liabilities     139,009               167,191          
    Stockholders’ equity     1,617,633               1,546,312          
    Total liabilities and stockholders’ equity   $ 14,362,321             $ 14,090,423          
                             
    Tax-equivalent net interest income and spread       $ 87,186   1.55 %       $ 82,809   1.38 %
    Less: tax-equivalent adjustment         1,100             1,113    
    Net interest income       $ 86,086           $ 81,696    
                             
    Interest income/earning assets           5.00 %           4.92 %
    Interest expense/earning assets           2.47             2.47  
    Net interest margin           2.53 %           2.45 %
    (1) Tax-equivalent income has been adjusted using the combined marginal federal and state rate of 25.48% and 25.37% for 2024 and 2023, respectively. The annualized taxable-equivalent adjustments utilized in the above table to compute yields aggregated to $1.1 million and $1.1 million in 2024 and 2023, respectively.
    (2) Non-accrual loans are included in the average balances.
    (3) Available-for-sale investments are presented at amortized cost.
       

    Sandy Spring Bancorp, Inc. and Subsidiaries
    CONSOLIDATED AVERAGE BALANCES, YIELDS AND RATES – UNAUDITED

        Year Ended December 31,
          2024       2023  
    (Dollars in thousands and tax-equivalent)   Average
    Balances
      Interest (1)   Annualized
    Average
    Yield/Rate
      Average
    Balances
      Interest (1)   Annualized
    Average
    Yield/Rate
    Assets                        
    Commercial investor real estate loans   $ 4,929,894     $ 234,402   4.75 %   $ 5,133,279     $ 237,976   4.64 %
    Commercial owner-occupied real estate loans     1,740,376       84,587   4.86       1,766,839       82,049   4.64  
    Commercial AD&C loans     1,180,100       93,082   7.89       1,023,669       81,515   7.96  
    Commercial business loans     1,561,616       105,400   6.75       1,440,382       92,080   6.39  
    Total commercial loans     9,411,986       517,471   5.50       9,364,169       493,620   5.27  
    Residential mortgage loans     1,518,170       56,644   3.73       1,380,496       48,909   3.54  
    Residential construction loans     77,276       3,880   5.02       187,599       6,817   3.63  
    Consumer loans     422,260       34,189   8.10       421,963       32,946   7.81  
    Total residential and consumer loans     2,017,706       94,713   4.69       1,990,058       88,672   4.46  
    Total loans (2)     11,429,692       612,184   5.36       11,354,227       582,292   5.13  
    Residential mortgage loans held for sale     14,089       1,050   7.45       12,421       896   7.21  
    SBA loans held for sale     165       23   14.17                
    Taxable securities     1,200,218       29,140   2.43       1,254,739       26,992   2.15  
    Tax-advantaged securities     336,913       8,928   2.65       357,933       9,049   2.53  
    Total investment securities (3)     1,537,131       38,068   2.48       1,612,672       36,041   2.23  
    Interest-bearing deposits with banks     492,649       25,398   5.16       432,392       22,435   5.19  
    Federal funds sold     216       8   3.79       393       17   4.26  
    Total interest-earning assets     13,473,942       676,731   5.02       13,412,105       641,681   4.78  
                             
    Less: allowance for credit losses – loans     (125,131 )             (124,624 )        
    Cash and due from banks     81,761               93,494          
    Premises and equipment, net     58,571               69,886          
    Other assets     640,652               604,784          
    Total assets   $ 14,129,795             $ 14,055,645          
                             
    Liabilities and Stockholders’ Equity                        
    Interest-bearing demand deposits   $ 1,480,668     $ 25,368   1.71 %   $ 1,429,219     $ 16,077   1.12 %
    Regular savings deposits     1,643,305       56,365   3.43       784,575       17,546   2.24  
    Money market savings deposits     2,914,712       105,847   3.63       2,974,580       93,432   3.14  
    Time deposits     2,588,713       115,593   4.47       2,695,232       97,973   3.64  
    Total interest-bearing deposits     8,627,398       303,173   3.51       7,883,606       225,028   2.85  
    Repurchase agreements     65,913       1,370   2.08       63,259       915   1.45  
    Federal funds purchased and Federal Reserve Bank borrowings     75,227       3,889   5.17       273,508       13,537   4.95  
    Advances from FHLB     465,164       20,259   4.36       615,082       27,709   4.50  
    Subordinated debt     371,085       16,455   4.43       370,487       15,785   4.26  
    Total borrowings     977,389       41,973   4.29       1,322,336       57,946   4.38  
    Total interest-bearing liabilities     9,604,787       345,146   3.59       9,205,942       282,974   3.07  
                             
    Noninterest-bearing demand deposits     2,779,696               3,152,699          
    Other liabilities     147,856               168,762          
    Stockholders’ equity     1,597,456               1,528,242          
    Total liabilities and stockholders’ equity   $ 14,129,795             $ 14,055,645          
                             
    Tax-equivalent net interest income and spread       $ 331,585   1.43 %       $ 358,707   1.71 %
    Less: tax-equivalent adjustment         4,459             4,157    
    Net interest income       $ 327,126           $ 354,550    
                             
    Interest income/earning assets           5.02 %           4.78 %
    Interest expense/earning assets           2.56             2.11  
    Net interest margin           2.46 %           2.67 %
    (1) Tax-equivalent income has been adjusted using the combined marginal federal and state rate of 25.48% and 25.37% for 2024 and 2023, respectively. The annualized taxable-equivalent adjustments utilized in the above table to compute yields aggregated to $4.5 million and $4.2 million in 2024 and 2023, respectively.
    (2) Non-accrual loans are included in the average balances.
    (3) Available-for-sale investments are presented at amortized cost.

    The MIL Network

  • MIL-OSI: Pando to Bring Cutting-Edge AI Logistics Technology to Manifest 2025

    Source: GlobeNewswire (MIL-OSI)

    • The company will unveil new AI-powered solutions designed to tackle inefficiencies that existing systems and services fail to address
    • Pando CEO to present the impact of AI in the future of logistics on Tuesday, February 11 at 2 p.m. PT on the Innovation Stage; and provide demonstrations in booth #1408

    LAS VEGAS, Jan. 28, 2025 (GLOBE NEWSWIRE) — Pando, an AI-powered logistics technology company, today announced its bringing its cutting-edge technology to Manifest, the premier event for supply chain and logistics innovation, on February 10-12, 2025 in Las Vegas. Pando will unveil its new offering in the AI-powered logistics technology space and provide product demonstrations in booth #1408.

    Supply chain disruptions have become a constant challenge in the industry, fueled by geopolitical instability, events such as recent port strikes, changes in trade policies, rising freight costs, and growing expectations for sustainability. In this rapidly changing landscape, Pando is leading the way to solve the global logistics landscape, with its unified and intelligent transportation management platform enabling manufacturers, distributors, and retailers to drive efficiency and agility across their supply chains.

    “We are committed to transforming how businesses approach transportation management and logistics through the power of AI and intelligent automation,” said Nitin Jayakrishnan, CEO and co-founder of Pando. “Manifest offers us a unique opportunity to demonstrate our new AI-powered solution designed to augment logistics performance, reduce operational costs, and alleviate the workload of current logistics teams. Our customers have already experienced the impact of these innovations firsthand, and now it’s time for the rest of the supply chain world to see our technology in action.”

    During Pando’s presentation on Tuesday, February 11 at 2 p.m. PST on the Innovation Stage, Chief Executive Officer and Co-Founder Nitin Jayakrishnan, will demonstrate the company’s latest product offering and address the transformative impact of AI on the logistics industry.

    Manifest is the largest global end-to-end supply chain and logistics technology event in the world, bringing together global supply chain executives, logistics service providers, cutting-edge startups, venture investors, and technology leaders.

    For more information on Pando and its offerings, please visit https://pando.ai

    About Pando

    Pando is an AI-powered, no-code, and unified fulfillment platform that enables manufacturers & retailers to orchestrate both inbound & outbound logistics & fulfillment to improve service levels, reduce carbon footprint, and control freight costs. Pando digitalizes end-to-end freight procure-to-pay operations with freight procurement, multi-modal transportation management (domestic and international), freight audit & payment capabilities in a single platform.

    As a partner of choice for Fortune 500 enterprises & presence across the US, Europe & Asia Pacific, Pando is recognized by the World Economic Forum (WEF) as a Technology Pioneer, by Gartner for its Transportation Procurement, Multi-Enterprise Collaboration, & Transportation Management System capabilities, by G2 for its compelling user experience, and by Deloitte as one of the fastest-growing technology companies. Learn more at pando.ai.

    Media Contact
    Courtney Meints
    Skyya PR for Pando
    +1 651-329-9098
    pando@skyya.com

    The MIL Network

  • MIL-OSI Europe: Note “Antiqua et nova” on the relationship between Artficial Intelligence and Human Intelligence

    Source: The Holy See

    Note “Antiqua et nova” on the relationship between Artficial Intelligence and Human Intelligence, 28.01.2025
    ANTIQUA ET NOVA:
    Note on the Relationship BetweenArtificial Intelligence and Human Intelligence
    I. Introduction
    1. With wisdom both ancient and new (cf. Mt. 13:52), we are called to reflect on the current challenges and opportunities posed by scientific and technological advancements, particularly by the recent development of Artificial Intelligence (AI). The Christian tradition regards the gift of intelligence as an essential aspect of how humans are created “in the image of God” (Gen. 1:27). Starting from an integral vision of the human person and the biblical calling to “till” and “keep” the earth (Gen. 2:15), the Church emphasizes that this gift of intelligence should be expressed through the responsible use of reason and technical abilities in the stewardship of the created world.
    2. The Church encourages the advancement of science, technology, the arts, and other forms of human endeavor, viewing them as part of the “collaboration of man and woman with God in perfecting the visible creation.”[1] As Sirach affirms, God “gave skill to human beings, that he might be glorified in his marvelous works” (Sir. 38:6). Human abilities and creativity come from God and, when used rightly, glorify God by reflecting his wisdom and goodness. In light of this, when we ask ourselves what it means to “be human,” we cannot exclude a consideration of our scientific and technological abilities.
    3. It is within this perspective that the present Note addresses the anthropological and ethical challenges raised by AI—issues that are particularly significant, as one of the goals of this technology is to imitate the human intelligence that designed it. For instance, unlike many other human creations, AI can be trained on the results of human creativity and then generate new “artifacts” with a level of speed and skill that often rivals or surpasses what humans can do, such as producing text or images indistinguishable from human compositions. This raises critical concerns about AI’s potential role in the growing crisis of truth in the public forum. Moreover, this technology is designed to learn and make certain choices autonomously, adapting to new situations and providing solutions not foreseen by its programmers, and thus, it raises fundamental questions about ethical responsibility and human safety, with broader implications for society as a whole. This new situation has prompted many people to reflect on what it means to be human and the role of humanity in the world.
    4. Taking all this into account, there is broad consensus that AI marks a new and significant phase in humanity’s engagement with technology, placing it at the heart of what Pope Francis has described as an “epochal change.”[2] Its impact is felt globally and in a wide range of areas, including interpersonal relationships, education, work, art, healthcare, law, warfare, and international relations. As AI advances rapidly toward even greater achievements, it is critically important to consider its anthropological and ethical implications. This involves not only mitigating risks and preventing harm but also ensuring that its applications are used to promote human progress and the common good.
    5. To contribute positively to the discernment regarding AI, and in response to Pope Francis’ call for a renewed “wisdom of heart,”[3] the Church offers its experience through the anthropological and ethical reflections contained in this Note. Committed to its active role in the global dialogue on these issues, the Church invites those entrusted with transmitting the faith—including parents, teachers, pastors, and bishops—to dedicate themselves to this critical subject with care and attention. While this document is intended especially for them, it is also meant to be accessible to a broader audience, particularly those who share the conviction that scientific and technological advances should be directed toward serving the human person and the common good.[4]
    6. To this end, the document begins by distinguishing between concepts of intelligence in AI and in human intelligence. It then explores the Christian understanding of human intelligence, providing a framework rooted in the Church’s philosophical and theological tradition. Finally, the document offers guidelines to ensure that the development and use of AI uphold human dignity and promote the integral development of the human person and society.
    II. What is Artificial Intelligence?
    7. The concept of “intelligence” in AI has evolved over time, drawing on a range of ideas from various disciplines. While its origins extend back centuries, a significant milestone occurred in 1956 when the American computer scientist John McCarthy organized a summer workshop at Dartmouth University to explore the problem of “Artificial Intelligence,” which he defined as “that of making a machine behave in ways that would be called intelligent if a human were so behaving.”[5] This workshop launched a research program focused on designing machines capable of performing tasks typically associated with the human intellect and intelligent behavior.
    8. Since then, AI research has advanced rapidly, leading to the development of complex systems capable of performing highly sophisticated tasks.[6] These so-called “narrow AI” systems are typically designed to handle specific and limited functions, such as translating languages, predicting the trajectory of a storm, classifying images, answering questions, or generating visual content at the user’s request. While the definition of “intelligence” in AI research varies, most contemporary AI systems—particularly those using machine learning—rely on statistical inference rather than logical deduction. By analyzing large datasets to identify patterns, AI can “predict”[7] outcomes and propose new approaches, mimicking some cognitive processes typical of human problem-solving. Such achievements have been made possible through advances in computing technology (including neural networks, unsupervised machine learning, and evolutionary algorithms) as well as hardware innovations (such as specialized processors). Together, these technologies enable AI systems to respond to various forms of human input, adapt to new situations, and even suggest novel solutions not anticipated by their original programmers.[8]
    9. Due to these rapid advancements, many tasks once managed exclusively by humans are now entrusted to AI. These systems can augment or even supersede what humans are able to do in many fields, particularly in specialized areas such as data analysis, image recognition, and medical diagnosis. While each “narrow AI” application is designed for a specific task, many researchers aspire to develop what is known as “Artificial General Intelligence” (AGI)—a single system capable of operating across all cognitive domains and performing any task within the scope of human intelligence. Some even argue that AGI could one day achieve the state of “superintelligence,” surpassing human intellectual capacities, or contribute to “super-longevity” through advances in biotechnology. Others, however, fear that these possibilities, even if hypothetical, could one day eclipse the human person, while still others welcome this potential transformation.[9]
    10. Underlying this and many other perspectives on the subject is the implicit assumption that the term “intelligence” can be used in the same way to refer to both human intelligence and AI. Yet, this does not capture the full scope of the concept. In the case of humans, intelligence is a faculty that pertains to the person in his or her entirety, whereas in the context of AI, “intelligence” is understood functionally, often with the presumption that the activities characteristic of the human mind can be broken down into digitized steps that machines can replicate.[10]
    11. This functional perspective is exemplified by the “Turing Test,” which considers a machine “intelligent” if a person cannot distinguish its behavior from that of a human.[11] However, in this context, the term “behavior” refers only to the performance of specific intellectual tasks; it does not account for the full breadth of human experience, which includes abstraction, emotions, creativity, and the aesthetic, moral, and religious sensibilities. Nor does it encompass the full range of expressions characteristic of the human mind. Instead, in the case of AI, the “intelligence” of a system is evaluated methodologically, but also reductively, based on its ability to produce appropriate responses—in this case, those associated with the human intellect—regardless of how those responses are generated.
    12. AI’s advanced features give it sophisticated abilities to perform tasks, but not the ability to think.[12] This distinction is crucially important, as the way “intelligence” is defined inevitably shapes how we understand the relationship between human thought and this technology.[13] To appreciate this, one must recall the richness of the philosophical tradition and Christian theology, which offer a deeper and more comprehensive understanding of intelligence—an understanding that is central to the Church’s teaching on the nature, dignity, and vocation of the human person.[14]
    III. Intelligence in the Philosophical and Theological Tradition
    Rationality
    13. From the dawn of human self-reflection, the mind has played a central role in understanding what it means to be “human.” Aristotle observed that “all people by nature desire to know.”[15] This knowledge, with its capacity for abstraction that grasps the nature and meaning of things, sets humans apart from the animal world.[16] As philosophers, theologians, and psychologists have examined the exact nature of this intellectual faculty, they have also explored how humans understand the world and their unique place within it. Through this exploration, the Christian tradition has come to understand the human person as a being consisting of both body and soul—deeply connected to this world and yet transcending it.[17]
    14. In the classical tradition, the concept of intelligence is often understood through the complementary concepts of “reason” (ratio) and “intellect” (intellectus). These are not separate faculties but, as Saint Thomas Aquinas explains, they are two modes in which the same intelligence operates: “The term intellect is inferred from the inward grasp of the truth, while the name reason is taken from the inquisitive and discursive process.”[18] This concise description highlights the two fundamental and complementary dimensions of human intelligence. Intellectus refers to the intuitive grasp of the truth—that is, apprehending it with the “eyes” of the mind—which precedes and grounds argumentation itself. Ratio pertains to reasoning proper: the discursive, analytical process that leads to judgment. Together, intellect and reason form the two facets of the act of intelligere, “the proper operation of the human being as such.”[19]
    15. Describing the human person as a “rational” being does not reduce the person to a specific mode of thought; rather, it recognizes that the ability for intellectual understanding shapes and permeates all aspects of human activity.[20] Whether exercised well or poorly, this capacity is an intrinsic aspect of human nature. In this sense, the “term ‘rational’ encompasses all the capacities of the human person,” including those related to “knowing and understanding, as well as those of willing, loving, choosing, and desiring; it also includes all corporeal functions closely related to these abilities.”[21] This comprehensive perspective underscores how, in the human person, created in the “image of God,” reason is integrated in a way that elevates, shapes, and transforms both the person’s will and actions.[22]
    Embodiment
    16. Christian thought considers the intellectual faculties of the human person within the framework of an integral anthropology that views the human being as essentially embodied. In the human person, spirit and matter “are not two natures united, but rather their union forms a single nature.”[23] In other words, the soul is not merely the immaterial “part” of the person contained within the body, nor is the body an outer shell housing an intangible “core.” Rather, the entire human person is simultaneously both material and spiritual. This understanding reflects the teaching of Sacred Scripture, which views the human person as a being who lives out relationships with God and others (and thus, an authentically spiritual dimension) within and through this embodied existence.[24] The profound meaning of this condition is further illuminated by the mystery of the Incarnation, through which God himself took on our flesh and “raised it up to a sublime dignity.”[25]
    17. Although deeply rooted in bodily existence, the human person transcends the material world through the soul, which is “almost on the horizon of eternity and time.”[26] The intellect’s capacity for transcendence and the self-possessed freedom of the will belong to the soul, by which the human person “shares in the light of the divine mind.”[27] Nevertheless, the human spirit does not exercise its normal mode of knowledge without the body.[28] In this way, the intellectual faculties of the human person are an integral part of an anthropology that recognizes that the human person is a “unity of body and soul.”[29] Further aspects of this understanding will be developed in what follows.
    Relationality
    18. Human beings are “ordered by their very nature to interpersonal communion,”[30] possessing the capacity to know one another, to give themselves in love, and to enter into communion with others. Accordingly, human intelligence is not an isolated faculty but is exercised in relationships, finding its fullest expression in dialogue, collaboration, and solidarity. We learn with others, and we learn through others.
    19. The relational orientation of the human person is ultimately grounded in the eternal self-giving of the Triune God, whose love is revealed in creation and redemption.[31] The human person is “called to share, by knowledge and love, in God’s own life.”[32]
    20. This vocation to communion with God is necessarily tied to the call to communion with others. Love of God cannot be separated from love for one’s neighbor (cf. 1 Jn. 4:20; Mt. 22:37-39). By the grace of sharing God’s life, Christians are also called to imitate Christ’s outpouring gift (cf. 2 Cor. 9:8-11; Eph. 5:1-2) by following his command to “love one another, as I have loved you” (Jn. 13:34).[33] Love and service, echoing the divine life of self-giving, transcend self-interest to respond more fully to the human vocation (cf. 1 Jn. 2:9). Even more sublime than knowing many things is the commitment to care for one another, for if “I understand all mysteries and all knowledge […] but do not have love, I am nothing” (1 Cor. 13:2).
    Relationship with the Truth
    21. Human intelligence is ultimately “God’s gift fashioned for the assimilation of truth.”[34] In the dual sense of intellectus-ratio, it enables the person to explore realities that surpass mere sensory experience or utility, since “the desire for truth is part of human nature itself. It is an innate property of human reason to ask why things are as they are.”[35] Moving beyond the limits of empirical data, human intelligence can “with genuine certitude attain to reality itself as knowable.”[36] While reality remains only partially known, the desire for truth “spurs reason always to go further; indeed, it is as if reason were overwhelmed to see that it can always go beyond what it has already achieved.”[37] Although Truth in itself transcends the boundaries of human intelligence, it irresistibly attracts it.[38] Drawn by this attraction, the human person is led to seek “truths of a higher order.”[39]
    22. This innate drive toward the pursuit of truth is especially evident in the distinctly human capacities for semantic understanding and creativity,[40] through which this search unfolds in a “manner that is appropriate to the social nature and dignity of the human person.”[41] Likewise, a steadfast orientation to the truth is essential for charity to be both authentic and universal.[42]
    23. The search for truth finds its highest expression in openness to realities that transcend the physical and created world. In God, all truths attain their ultimate and original meaning.[43] Entrusting oneself to God is a “fundamental decision that engages the whole person.”[44] In this way, the human person becomes fully what he or she is called to be: “the intellect and the will display their spiritual nature,” enabling the person “to act in a way that realizes personal freedom to the full.”[45]
    Stewardship of the World
    24. The Christian faith understands creation as the free act of the Triune God, who, as Saint Bonaventure of Bagnoregio explains, creates “not to increase his glory, but to show it forth and to communicate it.”[46] Since God creates according to his Wisdom (cf. Wis. 9:9; Jer. 10:12), creation is imbued with an intrinsic order that reflects God’s plan (cf. Gen. 1; Dan. 2:21-22; Is. 45:18; Ps. 74:12-17; 104),[47] within which God has called human beings to assume a unique role: to cultivate and care for the world.[48]
    25. Shaped by the Divine Craftsman, humans live out their identity as beings made in imago Dei by “keeping” and “tilling” (cf. Gen. 2:15) creation—using their intelligence and skills to care for and develop creation in accord with God’s plan.[49] In this, human intelligence reflects the Divine Intelligence that created all things (cf. Gen. 1-2; Jn. 1),[50] continuously sustains them, and guides them to their ultimate purpose in him.[51] Moreover, human beings are called to develop their abilities in science and technology, for through them, God is glorified (cf. Sir. 38:6). Thus, in a proper relationship with creation, humans, on the one hand, use their intelligence and skill to cooperate with God in guiding creation toward the purpose to which he has called it.[52] On the other hand, creation itself, as Saint Bonaventure observes, helps the human mind to “ascend gradually to the supreme Principle, who is God.”[53]
    An Integral Understanding of Human Intelligence
    26. In this context, human intelligence becomes more clearly understood as a faculty that forms an integral part of how the whole person engages with reality. Authentic engagement requires embracing the full scope of one’s being: spiritual, cognitive, embodied, and relational.
    27. This engagement with reality unfolds in various ways, as each person, in his or her multifaceted individuality[54], seeks to understand the world, relate to others, solve problems, express creativity, and pursue integral well-being through the harmonious interplay of the various dimensions of the person’s intelligence.[55] This involves logical and linguistic abilities but can also encompass other modes of interacting with reality. Consider the work of an artisan, who “must know how to discern, in inert matter, a particular form that others cannot recognize”[56] and bring it forth through insight and practical skill. Indigenous peoples who live close to the earth often possess a profound sense of nature and its cycles.[57] Similarly, a friend who knows the right word to say or a person adept at managing human relationships exemplifies an intelligence that is “the fruit of self-examination, dialogue and generous encounter between persons.”[58] As Pope Francis observes, “in this age of artificial intelligence, we cannot forget that poetry and love are necessary to save our humanity.”[59]
    28. At the heart of the Christian understanding of intelligence is the integration of truth into the moral and spiritual life of the person, guiding his or her actions in light of God’s goodness and truth. According to God’s plan, intelligence, in its fullest sense, also includes the ability to savor what is true, good, and beautiful. As the twentieth-century French poet Paul Claudel expressed, “intelligence is nothing without delight.”[60] Similarly, Dante, upon reaching the highest heaven in Paradiso, testifies that the culmination of this intellectual delight is found in the “light intellectual full of love, love of true good filled with joy, joy which transcends every sweetness.”[61]
    29. A proper understanding of human intelligence, therefore, cannot be reduced to the mere acquisition of facts or the ability to perform specific tasks. Instead, it involves the person’s openness to the ultimate questions of life and reflects an orientation toward the True and the Good. [62] As an expression of the divine image within the person, human intelligence has the ability to access the totality of being, contemplating existence in its fullness, which goes beyond what is measurable, and grasping the meaning of what has been understood. For believers, this capacity includes, in a particular way, the ability to grow in the knowledge of the mysteries of God by using reason to engage ever more profoundly with revealed truths (intellectus fidei).[63] True intelligence is shaped by divine love, which “is poured forth in our hearts by the Holy Spirit” (Rom. 5:5). From this, it follows that human intelligence possesses an essential contemplative dimension, an unselfish openness to the True, the Good, and the Beautiful, beyond any utilitarian purpose.
    The Limits of AI
    30. In light of the foregoing discussion, the differences between human intelligence and current AI systems become evident. While AI is an extraordinary technological achievement capable of imitating certain outputs associated with human intelligence, it operates by performing tasks, achieving goals, or making decisions based on quantitative data and computational logic. For example, with its analytical power, AI excels at integrating data from a variety of fields, modeling complex systems, and fostering interdisciplinary connections. In this way, it can help experts collaborate in solving complex problems that “cannot be dealt with from a single perspective or from a single set of interests.”[64]
    31. However, even as AI processes and simulates certain expressions of intelligence, it remains fundamentally confined to a logical-mathematical framework, which imposes inherent limitations. Human intelligence, in contrast, develops organically throughout the person’s physical and psychological growth, shaped by a myriad of lived experiences in the flesh. Although advanced AI systems can “learn” through processes such as machine learning, this sort of training is fundamentally different from the developmental growth of human intelligence, which is shaped by embodied experiences, including sensory input, emotional responses, social interactions, and the unique context of each moment. These elements shape and form individuals within their personal history. In contrast, AI, lacking a physical body, relies on computational reasoning and learning based on vast datasets that include recorded human experiences and knowledge.
    32. Consequently, although AI can simulate aspects of human reasoning and perform specific tasks with incredible speed and efficiency, its computational abilities represent only a fraction of the broader capacities of the human mind. For instance, AI cannot currently replicate moral discernment or the ability to establish authentic relationships. Moreover, human intelligence is situated within a personally lived history of intellectual and moral formation that fundamentally shapes the individual’s perspective, encompassing the physical, emotional, social, moral, and spiritual dimensions of life. Since AI cannot offer this fullness of understanding, approaches that rely solely on this technology or treat it as the primary means of interpreting the world can lead to “a loss of appreciation for the whole, for the relationships between things, and for the broader horizon.”[65]
    33. Human intelligence is not primarily about completing functional tasks but about understanding and actively engaging with reality in all its dimensions; it is also capable of surprising insights. Since AI lacks the richness of corporeality, relationality, and the openness of the human heart to truth and goodness, its capacities—though seemingly limitless—are incomparable with the human ability to grasp reality. So much can be learned from an illness, an embrace of reconciliation, and even a simple sunset; indeed, many experiences we have as humans open new horizons and offer the possibility of attaining new wisdom. No device, working solely with data, can measure up to these and countless other experiences present in our lives.
    34. Drawing an overly close equivalence between human intelligence and AI risks succumbing to a functionalist perspective, where people are valued based on the work they can perform. However, a person’s worth does not depend on possessing specific skills, cognitive and technological achievements, or individual success, but on the person’s inherent dignity, grounded in being created in the image of God.[66] This dignity remains intact in all circumstances, including for those unable to exercise their abilities, whether it be an unborn child, an unconscious person, or an older person who is suffering.[67] It also underpins the tradition of human rights (and, in particular, what are now called “neuro-rights”), which represent “an important point of convergence in the search for common ground”[68] and can, thus, serve as a fundamental ethical guide in discussions on the responsible development and use of AI.
    35. Considering all these points, as Pope Francis observes, “the very use of the word ‘intelligence’” in connection with AI “can prove misleading”[69] and risks overlooking what is most precious in the human person. In light of this, AI should not be seen as an artificial form of human intelligence but as a product of it.[70]
    IV. The Role of Ethics in Guiding the Development and Use of AI
    36. Given these considerations, one can ask how AI can be understood within God’s plan. To answer this, it is important to recall that techno-scientific activity is not neutral in character but is a human endeavor that engages the humanistic and cultural dimensions of human creativity.[71]
    37. Seen as a fruit of the potential inscribed within human intelligence,[72] scientific inquiry and the development of technical skills are part of the “collaboration of man and woman with God in perfecting the visible creation.”[73] At the same time, all scientific and technological achievements are, ultimately, gifts from God.[74] Therefore, human beings must always use their abilities in view of the higher purpose for which God has granted them.[75]
    38. We can gratefully acknowledge how technology has “remedied countless evils which used to harm and limit human beings,”[76] a fact for which we should rejoice. Nevertheless, not all technological advancements in themselves represent genuine human progress.[77] The Church is particularly opposed to those applications that threaten the sanctity of life or the dignity of the human person.[78] Like any human endeavor, technological development must be directed to serve the human person and contribute to the pursuit of “greater justice, more extensive fraternity, and a more humane order of social relations,” which are “more valuable than advances in the technical field.”[79] Concerns about the ethical implications of technological development are shared not only within the Church but also among many scientists, technologists, and professional associations, who increasingly call for ethical reflection to guide this development in a responsible way.
    39. To address these challenges, it is essential to emphasize the importance of moral responsibility grounded in the dignity and vocation of the human person. This guiding principle also applies to questions concerning AI. In this context, the ethical dimension takes on primary importance because it is people who design systems and determine the purposes for which they are used.[80] Between a machine and a human being, only the latter is truly a moral agent—a subject of moral responsibility who exercises freedom in his or her decisions and accepts their consequences.[81] It is not the machine but the human who is in relationship with truth and goodness, guided by a moral conscience that calls the person “to love and to do what is good and to avoid evil,”[82] bearing witness to “the authority of truth in reference to the supreme Good to which the human person is drawn.”[83] Likewise, between a machine and a human, only the human can be sufficiently self-aware to the point of listening and following the voice of conscience, discerning with prudence, and seeking the good that is possible in every situation.[84] In fact, all of this also belongs to the person’s exercise of intelligence.
    40. Like any product of human creativity, AI can be directed toward positive or negative ends.[85] When used in ways that respect human dignity and promote the well-being of individuals and communities, it can contribute positively to the human vocation. Yet, as in all areas where humans are called to make decisions, the shadow of evil also looms here. Where human freedom allows for the possibility of choosing what is wrong, the moral evaluation of this technology will need to take into account how it is directed and used.
    41. At the same time, it is not only the ends that are ethically significant but also the means employed to achieve them. Additionally, the overall vision and understanding of the human person embedded within these systems are important to consider as well. Technological products reflect the worldview of their developers, owners, users, and regulators,[86] and have the power to “shape the world and engage consciences on the level of values.”[87] On a societal level, some technological developments could also reinforce relationships and power dynamics that are inconsistent with a proper understanding of the human person and society.
    42. Therefore, the ends and the means used in a given application of AI, as well as the overall vision it incorporates, must all be evaluated to ensure they respect human dignity and promote the common good.[88] As Pope Francis has stated, “the intrinsic dignity of every man and every woman” must be “the key criterion in evaluating emerging technologies; these will prove ethically sound to the extent that they help respect that dignity and increase its expression at every level of human life,”[89] including in the social and economic spheres. In this sense, human intelligence plays a crucial role not only in designing and producing technology but also in directing its use in line with the authentic good of the human person.[90] The responsibility for managing this wisely pertains to every level of society, guided by the principle of subsidiarity and other principles of Catholic Social Teaching.
    Helping Human Freedom and Decision-Making
    43. The commitment to ensuring that AI always supports and promotes the supreme value of the dignity of every human being and the fullness of the human vocation serves as a criterion of discernment for developers, owners, operators, and regulators of AI, as well as to its users. It remains valid for every application of the technology at every level of its use.
    44. An evaluation of the implications of this guiding principle could begin by considering the importance of moral responsibility. Since full moral causality belongs only to personal agents, not artificial ones, it is crucial to be able to identify and define who bears responsibility for the processes involved in AI, particularly those capable of learning, correction, and reprogramming. While bottom-up approaches and very deep neural networks enable AI to solve complex problems, they make it difficult to understand the processes that lead to the solutions they adopted. This complicates accountability since if an AI application produces undesired outcomes, determining who is responsible becomes difficult. To address this problem, attention needs to be given to the nature of accountability processes in complex, highly automated settings, where results may only become evident in the medium to long term. For this, it is important that ultimate responsibility for decisions made using AI rests with the human decision-makers and that there is accountability for the use of AI at each stage of the decision-making process.[91]
    45. In addition to determining who is responsible, it is essential to identify the objectives given to AI systems. Although these systems may use unsupervised autonomous learning mechanisms and sometimes follow paths that humans cannot reconstruct, they ultimately pursue goals that humans have assigned to them and are governed by processes established by their designers and programmers. Yet, this presents a challenge because, as AI models become increasingly capable of independent learning, the ability to maintain control over them to ensure that such applications serve human purposes may effectively diminish. This raises the critical question of how to ensure that AI systems are ordered for the good of people and not against them.
    46. While responsibility for the ethical use of AI systems starts with those who develop, produce, manage, and oversee such systems, it is also shared by those who use them. As Pope Francis noted, the machine “makes a technical choice among several possibilities based either on well-defined criteria or on statistical inferences. Human beings, however, not only choose, but in their hearts are capable of deciding.”[92] Those who use AI to accomplish a task and follow its results create a context in which they are ultimately responsible for the power they have delegated. Therefore, insofar as AI can assist humans in making decisions, the algorithms that govern it should be trustworthy, secure, robust enough to handle inconsistencies, and transparent in their operation to mitigate biases and unintended side effects.[93] Regulatory frameworks should ensure that all legal entities remain accountable for the use of AI and all its consequences, with appropriate safeguards for transparency, privacy, and accountability.[94] Moreover, those using AI should be careful not to become overly dependent on it for their decision-making, a trend that increases contemporary society’s already high reliance on technology.
    47. The Church’s moral and social teaching provides resources to help ensure that AI is used in a way that preserves human agency. Considerations about justice, for example, should also address issues such as fostering just social dynamics, upholding international security, and promoting peace. By exercising prudence, individuals and communities can discern ways to use AI to benefit humanity while avoiding applications that could degrade human dignity or harm the environment. In this context, the concept of responsibility should be understood not only in its most limited sense but as a “responsibility for the care for others, which is more than simply accounting for results achieved.”[95]
    48. Therefore, AI, like any technology, can be part of a conscious and responsible answer to humanity’s vocation to the good. However, as previously discussed, AI must be directed by human intelligence to align with this vocation, ensuring it respects the dignity of the human person. Recognizing this “exalted dignity,” the Second Vatican Council affirmed that “the social order and its development must invariably work to the benefit of the human person.”[96] In light of this, the use of AI, as Pope Francis said, must be “accompanied by an ethic inspired by a vision of the common good, an ethic of freedom, responsibility, and fraternity, capable of fostering the full development of people in relation to others and to the whole of creation.”[97]
    V. Specific Questions
    49. Within this general perspective, some observations follow below to illustrate how the preceding arguments can help provide an ethical orientation in practical situations, in line with the “wisdom of heart” that Pope Francis has proposed.[98] While not exhaustive, this discussion is offered in service of the dialogue that considers how AI can be used to uphold the dignity of the human person and promote the common good.[99]
    AI and Society
    50. As Pope Francis observed, “the inherent dignity of each human being and the fraternity that binds us together as members of the one human family must undergird the development of new technologies and serve as indisputable criteria for evaluating them before they are employed.”[100]
    51. Viewed through this lens, AI could “introduce important innovations in agriculture, education and culture, an improved level of life for entire nations and peoples, and the growth of human fraternity and social friendship,” and thus be “used to promote integral human development.”[101] AI could also help organizations identify those in need and counter discrimination and marginalization. These and other similar applications of this technology could contribute to human development and the common good.[102]
    52. However, while AI holds many possibilities for promoting the good, it can also hinder or even counter human development and the common good. Pope Francis has noted that “evidence to date suggests that digital technologies have increased inequality in our world. Not just differences in material wealth, which are also significant, but also differences in access to political and social influence.”[103] In this sense, AI could be used to perpetuate marginalization and discrimination, create new forms of poverty, widen the “digital divide,” and worsen existing social inequalities.[104]
    53. Moreover, the concentration of the power over mainstream AI applications in the hands of a few powerful companies raises significant ethical concerns. Exacerbating this problem is the inherent nature of AI systems, where no single individual can exercise complete oversight over the vast and complex datasets used for computation. This lack of well-defined accountability creates the risk that AI could be manipulated for personal or corporate gain or to direct public opinion for the benefit of a specific industry. Such entities, motivated by their own interests, possess the capacity to exercise “forms of control as subtle as they are invasive, creating mechanisms for the manipulation of consciences and of the democratic process.”[105]
    54. Furthermore, there is the risk of AI being used to promote what Pope Francis has called the “technocratic paradigm,” which perceives all the world’s problems as solvable through technological means alone.[106] In this paradigm, human dignity and fraternity are often set aside in the name of efficiency, “as if reality, goodness, and truth automatically flow from technological and economic power as such.”[107] Yet, human dignity and the common good must never be violated for the sake of efficiency,[108] for “technological developments that do not lead to an improvement in the quality of life of all humanity, but on the contrary, aggravate inequalities and conflicts, can never count as true progress.”[109] Instead, AI should be put “at the service of another type of progress, one which is healthier, more human, more social, more integral.”[110]
    55. Achieving this objective requires a deeper reflection on the relationship between autonomy and responsibility. Greater autonomy heightens each person’s responsibility across various aspects of communal life. For Christians, the foundation of this responsibility lies in the recognition that all human capacities, including the person’s autonomy, come from God and are meant to be used in the service of others.[111] Therefore, rather than merely pursuing economic or technological objectives, AI should serve “the common good of the entire human family,” which is “the sum total of social conditions that allow people, either as groups or as individuals, to reach their fulfillment more fully and more easily.”[112]
    AI and Human Relationships
    56. The Second Vatican Council observed that “by his innermost nature man is a social being; and if he does not enter into relations with others, he can neither live nor develop his gifts.”[113] This conviction underscores that living in society is intrinsic to the nature and vocation of the human person.[114] As social beings, we seek relationships that involve mutual exchange and the pursuit of truth, in the course of which, people “share with each other the truth they have discovered, or think they have discovered, in such a way that they help one another in the search for truth.”[115]
    57. Such a quest, along with other aspects of human communication, presupposes encounters and mutual exchange between individuals shaped by their unique histories, thoughts, convictions, and relationships. Nor can we forget that human intelligence is a diverse, multifaceted, and complex reality: individual and social, rational and affective, conceptual and symbolic. Pope Francis underscores this dynamic, noting that “together, we can seek the truth in dialogue, in relaxed conversation or in passionate debate. To do so calls for perseverance; it entails moments of silence and suffering, yet it can patiently embrace the broader experience of individuals and peoples. […] The process of building fraternity, be it local or universal, can only be undertaken by spirits that are free and open to authentic encounters.”[116]
    58. It is in this context that one can consider the challenges AI poses to human relationships. Like other technological tools, AI has the potential to foster connections within the human family. However, it could also hinder a true encounter with reality and, ultimately, lead people to “a deep and melancholic dissatisfaction with interpersonal relations, or a harmful sense of isolation.”[117] Authentic human relationships require the richness of being with others in their pain, their pleas, and their joy.[118] Since human intelligence is expressed and enriched also in interpersonal and embodied ways, authentic and spontaneous encounters with others are indispensable for engaging with reality in its fullness.
    59. Because “true wisdom demands an encounter with reality,”[119] the rise of AI introduces another challenge. Since AI can effectively imitate the products of human intelligence, the ability to know when one is interacting with a human or a machine can no longer be taken for granted. Generative AI can produce text, speech, images, and other advanced outputs that are usually associated with human beings. Yet, it must be understood for what it is: a tool, not a person.[120] This distinction is often obscured by the language used by practitioners, which tends to anthropomorphize AI and thus blurs the line between human and machine.
    60. Anthropomorphizing AI also poses specific challenges for the development of children, potentially encouraging them to develop patterns of interaction that treat human relationships in a transactional manner, as one would relate to a chatbot. Such habits could lead young people to see teachers as mere dispensers of information rather than as mentors who guide and nurture their intellectual and moral growth. Genuine relationships, rooted in empathy and a steadfast commitment to the good of the other, are essential and irreplaceable in fostering the full development of the human person.
    61. In this context, it is important to clarify that, despite the use of anthropomorphic language, no AI application can genuinely experience empathy. Emotions cannot be reduced to facial expressions or phrases generated in response to prompts; they reflect the way a person, as a whole, relates to the world and to his or her own life, with the body playing a central role. True empathy requires the ability to listen, recognize another’s irreducible uniqueness, welcome their otherness, and grasp the meaning behind even their silences.[121] Unlike the realm of analytical judgment in which AI excels, true empathy belongs to the relational sphere. It involves intuiting and apprehending the lived experiences of another while maintaining the distinction between self and other.[122] While AI can simulate empathetic responses, it cannot replicate the eminently personal and relational nature of authentic empathy.[123]
    62. In light of the above, it is clear why misrepresenting AI as a person should always be avoided; doing so for fraudulent purposes is a grave ethical violation that could erode social trust. Similarly, using AI to deceive in other contexts—such as in education or in human relationships, including the sphere of sexuality—is also to be considered immoral and requires careful oversight to prevent harm, maintain transparency, and ensure the dignity of all people.[124]
    63. In an increasingly isolated world, some people have turned to AI in search of deep human relationships, simple companionship, or even emotional bonds. However, while human beings are meant to experience authentic relationships, AI can only simulate them. Nevertheless, such relationships with others are an integral part of how a person grows to become who he or she is meant to be. If AI is used to help people foster genuine connections between people, it can contribute positively to the full realization of the person. Conversely, if we replace relationships with God and with others with interactions with technology, we risk replacing authentic relationality with a lifeless image (cf. Ps. 106:20; Rom. 1:22-23). Instead of retreating into artificial worlds, we are called to engage in a committed and intentional way with reality, especially by identifying with the poor and suffering, consoling those in sorrow, and forging bonds of communion with all.
    AI, the Economy, and Labor
    64. Due to its interdisciplinary nature, AI is being increasingly integrated into economic and financial systems. Significant investments are currently being made not only in the technology sector but also in energy, finance, and media, particularly in the areas of marketing and sales, logistics, technological innovation, compliance, and risk management. At the same time, AI’s applications in these areas have also highlighted its ambivalent nature, as a source of tremendous opportunities but also profound risks. A first real critical point in this area concerns the possibility that—due to the concentration of AI applications in the hands of a few corporations—only those large companies would benefit from the value created by AI rather than the businesses that use it.
    65. Other broader aspects of AI’s impact on the economic-financial sphere must also be carefully examined, particularly concerning the interaction between concrete reality and the digital world. One important consideration in this regard involves the coexistence of diverse and alternative forms of economic and financial institutions within a given context. This factor should be encouraged, as it can bring benefits in how it supports the real economy by fostering its development and stability, especially during times of crisis. Nevertheless, it should be stressed that digital realities, not restricted by any spatial bonds, tend to be more homogeneous and impersonal than communities rooted in a particular place and a specific history, with a common journey characterized by shared values and hopes, but also by inevitable disagreements and divergences. This diversity is an undeniable asset to a community’s economic life. Turning over the economy and finance entirely to digital technology would reduce this variety and richness. As a result, many solutions to economic problems that can be reached through natural dialogue between the involved parties may no longer be attainable in a world dominated by procedures and only the appearance of nearness.
    66. Another area where AI is already having a profound impact is the world of work. As in many other fields, AI is driving fundamental transformations across many professions, with a range of effects. On the one hand, it has the potential to enhance expertise and productivity, create new jobs, enable workers to focus on more innovative tasks, and open new horizons for creativity and innovation.
    67. However, while AI promises to boost productivity by taking over mundane tasks, it frequently forces workers to adapt to the speed and demands of machines rather than machines being designed to support those who work. As a result, contrary to the advertised benefits of AI, current approaches to the technology can paradoxically deskill workers, subject them to automated surveillance, and relegate them to rigid and repetitive tasks. The need to keep up with the pace of technology can erode workers’ sense of agency and stifle the innovative abilities they are expected to bring to their work.[125]
    68. AI is currently eliminating the need for some jobs that were once performed by humans. If AI is used to replace human workers rather than complement them, there is a “substantial risk of disproportionate benefit for the few at the price of the impoverishment of many.”[126] Additionally, as AI becomes more powerful, there is an associated risk that human labor may lose its value in the economic realm. This is the logical consequence of the technocratic paradigm: a world of humanity enslaved to efficiency, where, ultimately, the cost of humanity must be cut. Yet, human lives are intrinsically valuable, independent of their economic output. Nevertheless, the “current model,” Pope Francis explains, “does not appear to favor an investment in efforts to help the slow, the weak, or the less talented to find opportunities in life.”[127] In light of this, “we cannot allow a tool as powerful and indispensable as Artificial Intelligence to reinforce such a paradigm, but rather, we must make Artificial Intelligence a bulwark against its expansion.”[128]
    69. It is important to remember that “the order of things must be subordinate to the order of persons, and not the other way around.”[129] Human work must not only be at the service of profit but at “the service of the whole human person […] taking into account the person’s material needs and the requirements of his or her intellectual, moral, spiritual, and religious life.”[130] In this context, the Church recognizes that work is “not only a means of earning one’s daily bread” but is also “an essential dimension of social life” and “a means […] of personal growth, the building of healthy relationships, self-expression and the exchange of gifts. Work gives us a sense of shared responsibility for the development of the world, and ultimately, for our life as a people.”[131]
    70. Since work is a “part of the meaning of life on this earth, a path to growth, human development and personal fulfillment,” “the goal should not be that technological progress increasingly replaces human work, for this would be detrimental to humanity”[132]—rather, it should promote human labor. Seen in this light, AI should assist, not replace, human judgment. Similarly, it must never degrade creativity or reduce workers to mere “cogs in a machine.” Therefore, “respect for the dignity of laborers and the importance of employment for the economic well-being of individuals, families, and societies, for job security and just wages, ought to be a high priority for the international community as these forms of technology penetrate more deeply into our workplaces.”[133]
    AI and Healthcare
    71. As participants in God’s healing work, healthcare professionals have the vocation and responsibility to be “guardians and servants of human life.”[134] Because of this, the healthcare profession carries an “intrinsic and undeniable ethical dimension,” recognized by the Hippocratic Oath, which obliges physicians and healthcare professionals to commit themselves to having “absolute respect for human life and its sacredness.”[135] Following the example of the Good Samaritan, this commitment is to be carried out by men and women “who reject the creation of a society of exclusion, and act instead as neighbors, lifting up and rehabilitating the fallen for the sake of the common good.”[136]
    72. Seen in this light, AI seems to hold immense potential in a variety of applications in the medical field, such as assisting the diagnostic work of healthcare providers, facilitating relationships between patients and medical staff, offering new treatments, and expanding access to quality care also for those who are isolated or marginalized. In these ways, the technology could enhance the “compassionate and loving closeness”[137] that healthcare providers are called to extend to the sick and suffering.
    73. However, if AI is used not to enhance but to replace the relationship between patients and healthcare providers—leaving patients to interact with a machine rather than a human being—it would reduce a crucially important human relational structure to a centralized, impersonal, and unequal framework. Instead of encouraging solidarity with the sick and suffering, such applications of AI would risk worsening the loneliness that often accompanies illness, especially in the context of a culture where “persons are no longer seen as a paramount value to be cared for and respected.”[138] This misuse of AI would not align with respect for the dignity of the human person and solidarity with the suffering.
    74. Responsibility for the well-being of patients and the decisions that touch upon their lives are at the heart of the healthcare profession. This accountability requires medical professionals to exercise all their skill and intelligence in making well-reasoned and ethically grounded choices regarding those entrusted to their care, always respecting the inviolable dignity of the patients and the need for informed consent. As a result, decisions regarding patient treatment and the weight of responsibility they entail must always remain with the human person and should never be delegated to AI.[139]
    75. In addition, using AI to determine who should receive treatment based predominantly on economic measures or metrics of efficiency represents a particularly problematic instance of the “technocratic paradigm” that must be rejected.[140] For, “optimizing resources means using them in an ethical and fraternal way, and not penalizing the most fragile.”[141] Additionally, AI tools in healthcare are “exposed to forms of bias and discrimination,” where “systemic errors can easily multiply, producing not only injustices in individual cases but also, due to the domino effect, real forms of social inequality.”[142]
    76. The integration of AI into healthcare also poses the risk of amplifying other existing disparities in access to medical care. As healthcare becomes increasingly oriented toward prevention and lifestyle-based approaches, AI-driven solutions may inadvertently favor more affluent populations who already enjoy better access to medical resources and quality nutrition. This trend risks reinforcing a “medicine for the rich” model, where those with financial means benefit from advanced preventative tools and personalized health information while others struggle to access even basic services. To prevent such inequities, equitable frameworks are needed to ensure that the use of AI in healthcare does not worsen existing healthcare inequalities but rather serves the common good.
    AI and Education
    77. The words of the Second Vatican Council remain fully relevant today: “True education strives to form individuals with a view toward their final end and the good of the society to which they belong.”[143] As such, education is “never a mere process of passing on facts and intellectual skills: rather, its aim is to contribute to the person’s holistic formation in its various aspects (intellectual, cultural, spiritual, etc.), including, for example, community life and relations within the academic community,”[144] in keeping with the nature and dignity of the human person.
    78. This approach involves a commitment to cultivating the mind, but always as a part of the integral development of the person: “We must break that idea of education which holds that educating means filling one’s head with ideas. That is the way we educate automatons, cerebral minds, not people. Educating is taking a risk in the tension between the mind, the heart, and the hands.”[145]
    79. At the center of this work of forming the whole human person is the indispensable relationship between teacher and student. Teachers do more than convey knowledge; they model essential human qualities and inspire the joy of discovery.[146] Their presence motivates students both through the content they teach and the care they demonstrate for their students. This bond fosters trust, mutual understanding, and the capacity to address each person’s unique dignity and potential. On the part of the student, this can generate a genuine desire to grow. The physical presence of a teacher creates a relational dynamic that AI cannot replicate, one that deepens engagement and nurtures the student’s integral development.
    80. In this context, AI presents both opportunities and challenges. If used in a prudent manner, within the context of an existing teacher-student relationship and ordered to the authentic goals of education, AI can become a valuable educational resource by enhancing access to education, offering tailored support, and providing immediate feedback to students. These benefits could enhance the learning experience, especially in cases where individualized attention is needed, or educational resources are otherwise scarce.
    81. Nevertheless, an essential part of education is forming “the intellect to reason well in all matters, to reach out towards truth, and to grasp it,”[147] while helping the “language of the head” to grow harmoniously with the “language of the heart” and the “language of the hands.”[148] This is all the more vital in an age marked by technology, in which “it is no longer merely a question of ‘using’ instruments of communication, but of living in a highly digitalized culture that has had a profound impact on […] our ability to communicate, learn, be informed and enter into relationship with others.”[149] However, instead of fostering “a cultivated intellect,” which “brings with it a power and a grace to every work and occupation that it undertakes,”[150] the extensive use of AI in education could lead to the students’ increased reliance on technology, eroding their ability to perform some skills independently and worsening their dependence on screens.[151]
    82. Additionally, while some AI systems are designed to help people develop their critical thinking abilities and problem-solving skills, many others merely provide answers instead of prompting students to arrive at answers themselves or write text for themselves.[152] Instead of training young people how to amass information and generate quick responses, education should encourage “the responsible use of freedom to face issues with good sense and intelligence.”[153] Building on this, “education in the use of forms of artificial intelligence should aim above all at promoting critical thinking. Users of all ages, but especially the young, need to develop a discerning approach to the use of data and content collected on the web or produced by artificial intelligence systems. Schools, universities, and scientific societies are challenged to help students and professionals to grasp the social and ethical aspects of the development and uses of technology.”[154]
    83. As Saint John Paul II recalled, “in the world today, characterized by such rapid developments in science and technology, the tasks of a Catholic University assume an ever greater importance and urgency.”[155] In a particular way, Catholic universities are urged to be present as great laboratories of hope at this crossroads of history. In an inter-disciplinary and cross-disciplinary key, they are urged to engage “with wisdom and creativity”[156] in careful research on this phenomenon, helping to draw out the salutary potential within the various fields of science and reality, and guiding them always towards ethically sound applications that clearly serve the cohesion of our societies and the common good, reaching new frontiers in the dialogue between faith and reason.
    84. Moreover, it should be noted that current AI programs have been known to provide biased or fabricated information, which can lead students to trust inaccurate content. This problem “not only runs the risk of legitimizing fake news and strengthening a dominant culture’s advantage, but, in short, it also undermines the educational process itself.”[157] With time, clearer distinctions may emerge between proper and improper uses of AI in education and research. Yet, a decisive guideline is that the use of AI should always be transparent and never misrepresented.
    AI, Misinformation, Deepfakes, and Abuse
    85. AI could be used as an aid to human dignity if it helps people understand complex concepts or directs them to sound resources that support their search for the truth.[158]
    86. However, AI also presents a serious risk of generating manipulated content and false information, which can easily mislead people due to its resemblance to the truth. Such misinformation might occur unintentionally, as in the case of AI “hallucination,” where a generative AI system yields results that appear real but are not. Since generating content that mimics human artifacts is central to AI’s functionality, mitigating these risks proves challenging. Yet, the consequences of such aberrations and false information can be quite grave. For this reason, all those involved in producing and using AI systems should be committed to the truthfulness and accuracy of the information processed by such systems and disseminated to the public.
    87. While AI has a latent potential to generate false information, an even more troubling problem lies in the deliberate misuse of AI for manipulation. This can occur when individuals or organizations intentionally generate and spread false content with the aim to deceive or cause harm, such as “deepfake” images, videos, and audio—referring to a false depiction of a person, edited or generated by an AI algorithm. The danger of deepfakes is particularly evident when they are used to target or harm others. While the images or videos themselves may be artificial, the damage they cause is real, leaving “deep scars in the hearts of those who suffer it” and “real wounds in their human dignity.”[159]
    88. On a broader scale, by distorting “our relationship with others and with reality,”[160] AI-generated fake media can gradually undermine the foundations of society. This issue requires careful regulation, as misinformation—especially through AI-controlled or influenced media—can spread unintentionally, fueling political polarization and social unrest. When society becomes indifferent to the truth, various groups construct their own versions of “facts,” weakening the “reciprocal ties and mutual dependencies”[161] that underpin the fabric of social life. As deepfakes cause people to question everything and AI-generated false content erodes trust in what they see and hear, polarization and conflict will only grow. Such widespread deception is no trivial matter; it strikes at the core of humanity, dismantling the foundational trust on which societies are built.[162]
    89. Countering AI-driven falsehoods is not only the work of industry experts—it requires the efforts of all people of goodwill. “If technology is to serve human dignity and not harm it, and if it is to promote peace rather than violence, then the human community must be proactive in addressing these trends with respect to human dignity and the promotion of the good.”[163] Those who produce and share AI-generated content should always exercise diligence in verifying the truth of what they disseminate and, in all cases, should “avoid the sharing of words and images that are degrading of human beings, that promote hatred and intolerance, that debase the goodness and intimacy of human sexuality or that exploit the weak and vulnerable.”[164] This calls for the ongoing prudence and careful discernment of all users regarding their activity online.[165]
    AI, Privacy, and Surveillance
    90. Humans are inherently relational, and the data each person generates in the digital world can be seen as an objectified expression of this relational nature. Data conveys not only information but also personal and relational knowledge, which, in an increasingly digitized context, can amount to power over the individual. Moreover, while some types of data may pertain to public aspects of a person’s life, others may touch upon the individual’s interiority, perhaps even their conscience. Seen in this way, privacy plays an essential role in protecting the boundaries of a person’s inner life, preserving their freedom to relate to others, express themselves, and make decisions without undue control. This protection is also tied to the defense of religious freedom, as surveillance can also be misused to exert control over the lives of believers and how they express their faith.
    91. It is appropriate, therefore, to address the issue of privacy from a concern for the legitimate freedom and inalienable dignity of the human person “in all circumstances.”[166] The Second Vatican Council included the right “to safeguard privacy” among the fundamental rights “necessary for living a genuinely human life,” a right that should be extended to all people on account of their “sublime dignity.”[167] Furthermore, the Church has also affirmed the right to the legitimate respect for a private life in the context of affirming the person’s right to a good reputation, defense of their physical and mental integrity, and freedom from harm or undue intrusion[168]—essential components of the due respect for the intrinsic dignity of the human person.[169]
    92. Advances in AI-powered data processing and analysis now make it possible to infer patterns in a person’s behavior and thinking from even a small amount of information, making the role of data privacy even more imperative as a safeguard for the dignity and relational nature of the human person. As Pope Francis observed, “while closed and intolerant attitudes towards others are on the rise, distances are otherwise shrinking or disappearing to the point that the right to privacy scarcely exists. Everything has become a kind of spectacle to be examined and inspected, and people’s lives are now under constant surveillance.”[170]
    93. While there can be legitimate and proper ways to use AI in keeping with human dignity and the common good, using it for surveillance aimed at exploiting, restricting others’ freedom, or benefitting a few at the expense of the many is unjustifiable. The risk of surveillance overreach must be monitored by appropriate regulators to ensure transparency and public accountability. Those responsible for surveillance should never exceed their authority, which must always favor the dignity and freedom of every person as the essential basis of a just and humane society.
    94. Furthermore, “fundamental respect for human dignity demands that we refuse to allow the uniqueness of the person to be identified with a set of data.”[171] This especially applies when AI is used to evaluate individuals or groups based on their behavior, characteristics, or history—a practice known as “social scoring”: “In social and economic decision-making, we should be cautious about delegating judgments to algorithms that process data, often collected surreptitiously, on an individual’s makeup and prior behavior. Such data can be contaminated by societal prejudices and preconceptions. A person’s past behavior should not be used to deny him or her the opportunity to change, grow, and contribute to society. We cannot allow algorithms to limit or condition respect for human dignity, or to exclude compassion, mercy, forgiveness, and above all, the hope that people are able to change.”[172]
    AI and the Protection of Our Common Home
    95. AI has many promising applications for improving our relationship with our “common home,” such as creating models to forecast extreme climate events, proposing engineering solutions to reduce their impact, managing relief operations, and predicting population shifts.[173] Additionally, AI can support sustainable agriculture, optimize energy usage, and provide early warning systems for public health emergencies. These advancements have the potential to strengthen resilience against climate-related challenges and promote more sustainable development.
    96. At the same time, current AI models and the hardware required to support them consume vast amounts of energy and water, significantly contributing to CO2 emissions and straining resources. This reality is often obscured by the way this technology is presented in the popular imagination, where words such as “the cloud”[174] can give the impression that data is stored and processed in an intangible realm, detached from the physical world. However, “the cloud” is not an ethereal domain separate from the physical world; as with all computing technologies, it relies on physical machines, cables, and energy. The same is true of the technology behind AI. As these systems grow in complexity, especially large language models (LLMs), they require ever-larger datasets, increased computational power, and greater storage infrastructure. Considering the heavy toll these technologies take on the environment, it is vital to develop sustainable solutions that reduce their impact on our common home.
    97. Even then, as Pope Francis teaches, it is essential “that we look for solutions not only in technology but in a change of humanity.”[175] A complete and authentic understanding of creation recognizes that the value of all created things cannot be reduced to their mere utility. Therefore, a fully human approach to the stewardship of the earth rejects the distorted anthropocentrism of the technocratic paradigm, which seeks to “extract everything possible” from the world,[176] and rejects the “myth of progress,” which assumes that “ecological problems will solve themselves simply with the application of new technology and without any need for ethical considerations or deep change.”[177] Such a mindset must give way to a more holistic approach that respects the order of creation and promotes the integral good of the human person while safeguarding our common home.[178]
    AI and Warfare
    98. The Second Vatican Council and the consistent teaching of the Popes since then have insisted that peace is not merely the absence of war and is not limited to maintaining a balance of powers between adversaries. Instead, in the words of Saint Augustine, peace is “the tranquility of order.”[179] Indeed, peace cannot be attained without safeguarding the goods of persons, free communication, respect for the dignity of persons and peoples, and the assiduous practice of fraternity. Peace is the work of justice and the effect of charity and cannot be achieved through force alone; instead, it must be principally built through patient diplomacy, the active promotion of justice, solidarity, integral human development, and respect for the dignity of all people.[180] In this way, the tools used to maintain peace should never be allowed to justify injustice, violence, or oppression. Instead, they should always be governed by a “firm determination to respect other people and nations, along with their dignity, as well as the deliberate practice of fraternity.”[181]
    99. While AI’s analytical abilities could help nations seek peace and ensure security, the “weaponization of Artificial Intelligence” can also be highly problematic. Pope Francis has observed that “the ability to conduct military operations through remote control systems has led to a lessened perception of the devastation caused by those weapon systems and the burden of responsibility for their use, resulting in an even more cold and detached approach to the immense tragedy of war.”[182] Moreover, the ease with which autonomous weapons make war more viable militates against the principle of war as a last resort in legitimate self-defense,[183] potentially increasing the instruments of war well beyond the scope of human oversight and precipitating a destabilizing arms race, with catastrophic consequences for human rights.[184]
    100. In particular, Lethal Autonomous Weapon Systems, which are capable of identifying and striking targets without direct human intervention, are a “cause for grave ethical concern” because they lack the “unique human capacity for moral judgment and ethical decision-making.”[185] For this reason, Pope Francis has urgently called for a reconsideration of the development of these weapons and a prohibition on their use, starting with “an effective and concrete commitment to introduce ever greater and proper human control. No machine should ever choose to take the life of a human being.”[186]
    101. Since it is a small step from machines that can kill autonomously with precision to those capable of large-scale destruction, some AI researchers have expressed concerns that such technology poses an “existential risk” by having the potential to act in ways that could threaten the survival of entire regions or even of humanity itself. This danger demands serious attention, reflecting the long-standing concern about technologies that grant war “an uncontrollable destructive power over great numbers of innocent civilians,”[187] without even sparing children. In this context, the call from Gaudium et Spes to “undertake an evaluation of war with an entirely new attitude”[188] is more urgent than ever.
    102. At the same time, while the theoretical risks of AI deserve attention, the more immediate and pressing concern lies in how individuals with malicious intentions might misuse this technology.[189] Like any tool, AI is an extension of human power, and while its future capabilities are unpredictable, humanity’s past actions provide clear warnings. The atrocities committed throughout history are enough to raise deep concerns about the potential abuses of AI.
    103. Saint John Paul II observed that “humanity now has instruments of unprecedented power: we can turn this world into a garden, or reduce it to a pile of rubble.”[190] Given this fact, the Church reminds us, in the words of Pope Francis, that “we are free to apply our intelligence towards things evolving positively,” or toward “decadence and mutual destruction.”[191] To prevent humanity from spiraling into self-destruction,[192] there must be a clear stand against all applications of technology that inherently threaten human life and dignity. This commitment requires careful discernment about the use of AI, particularly in military defense applications, to ensure that it always respects human dignity and serves the common good. The development and deployment of AI in armaments should be subject to the highest levels of ethical scrutiny, governed by a concern for human dignity and the sanctity of life.[193]
    AI and Our Relationship with God
    104. Technology offers remarkable tools to oversee and develop the world’s resources. However, in some cases, humanity is increasingly ceding control of these resources to machines. Within some circles of scientists and futurists, there is optimism about the potential of artificial general intelligence (AGI), a hypothetical form of AI that would match or surpass human intelligence and bring about unimaginable advancements. Some even speculate that AGI could achieve superhuman capabilities. At the same time, as society drifts away from a connection with the transcendent, some are tempted to turn to AI in search of meaning or fulfillment—longings that can only be truly satisfied in communion with God.[194]
    105. However, the presumption of substituting God for an artifact of human making is idolatry, a practice Scripture explicitly warns against (e.g., Ex. 20:4; 32:1-5; 34:17). Moreover, AI may prove even more seductive than traditional idols for, unlike idols that “have mouths but do not speak; eyes, but do not see; ears, but do not hear” (Ps. 115:5-6), AI can “speak,” or at least gives the illusion of doing so (cf. Rev. 13:15). Yet, it is vital to remember that AI is but a pale reflection of humanity—it is crafted by human minds, trained on human-generated material, responsive to human input, and sustained through human labor. AI cannot possess many of the capabilities specific to human life, and it is also fallible. By turning to AI as a perceived “Other” greater than itself, with which to share existence and responsibilities, humanity risks creating a substitute for God. However, it is not AI that is ultimately deified and worshipped, but humanity itself—which, in this way, becomes enslaved to its own work.[195]
    106. While AI has the potential to serve humanity and contribute to the common good, it remains a creation of human hands, bearing “the imprint of human art and ingenuity” (Acts 17:29). It must never be ascribed undue worth. As the Book of Wisdom affirms: “For a man made them, and one whose spirit is borrowed formed them; for no man can form a god which is like himself. He is mortal, and what he makes with lawless hands is dead, for he is better than the objects he worships since he has life, but they never have” (Wis. 15:16-17).
    107. In contrast, human beings, “by their interior life, transcend the entire material universe; they experience this deep interiority when they enter into their own heart, where God, who probes the heart, awaits them, and where they decide their own destiny in the sight of God.”[196] It is within the heart, as Pope Francis reminds us, that each individual discovers the “mysterious connection between self-knowledge and openness to others, between the encounter with one’s personal uniqueness and the willingness to give oneself to others.”[197] Therefore, it is the heart alone that is “capable of setting our other powers and passions, and our entire person, in a stance of reverence and loving obedience before the Lord,”[198] who “offers to treat each one of us as a ‘Thou,’ always and forever.”[199]
    VI. Concluding Reflections
    108. Considering the various challenges posed by advances in technology, Pope Francis emphasized the need for growth in “human responsibility, values, and conscience,” proportionate to the growth in the potential that this technology brings[200]—recognizing that “with an increase in human power comes a broadening of responsibility on the part of individuals and communities.”[201]
    109. At the same time, the “essential and fundamental question” remains “whether in the context of this progress man, as man, is becoming truly better, that is to say, more mature spiritually, more aware of the dignity of his humanity, more responsible, more open to others, especially the neediest and the weakest, and readier to give and to aid all.”[202]
    110. As a result, it is crucial to know how to evaluate individual applications of AI in particular contexts to determine whether its use promotes human dignity, the vocation of the human person, and the common good. As with many technologies, the effects of the various uses of AI may not always be predictable from their inception. As these applications and their social impacts become clearer, appropriate responses should be made at all levels of society, following the principle of subsidiarity. Individual users, families, civil society, corporations, institutions, governments, and international organizations should work at their proper levels to ensure that AI is used for the good of all.
    111. A significant challenge and opportunity for the common good today lies in considering AI within a framework of relational intelligence, which emphasizes the interconnectedness of individuals and communities and highlights our shared responsibility for fostering the integral well-being of others. The twentieth-century philosopher Nicholas Berdyaev observed that people often blame machines for personal and social problems; however, “this only humiliates man and does not correspond to his dignity,” for “it is unworthy to transfer responsibility from man to a machine.”[203] Only the human person can be morally responsible, and the challenges of a technological society are ultimately spiritual in nature. Therefore, facing those challenges “demands an intensification of spirituality.”[204]
    112. A further point to consider is the call, prompted by the appearance of AI on the world stage, for a renewed appreciation of all that is human. Years ago, the French Catholic author Georges Bernanos warned that “the danger is not in the multiplication of machines, but in the ever-increasing number of men accustomed from their childhood to desire only what machines can give.”[205] This challenge is as true today as it was then, as the rapid pace of digitization risks a “digital reductionism,” where non-quantifiable aspects of life are set aside and then forgotten or even deemed irrelevant because they cannot be computed in formal terms. AI should be used only as a tool to complement human intelligence rather than replace its richness.[206] Cultivating those aspects of human life that transcend computation is crucial for preserving “an authentic humanity” that “seems to dwell in the midst of our technological culture, almost unnoticed, like a mist seeping gently beneath a closed door.”[207]
    True Wisdom
    113. The vast expanse of the world’s knowledge is now accessible in ways that would have filled past generations with awe. However, to ensure that advancements in knowledge do not become humanly or spiritually barren, one must go beyond the mere accumulation of data and strive to achieve true wisdom.[208]
    114. This wisdom is the gift that humanity needs most to address the profound questions and ethical challenges posed by AI: “Only by adopting a spiritual way of viewing reality, only by recovering a wisdom of the heart, can we confront and interpret the newness of our time.”[209] Such “wisdom of the heart” is “the virtue that enables us to integrate the whole and its parts, our decisions and their consequences.” It “cannot be sought from machines,” but it “lets itself be found by those who seek it and be seen by those who love it; it anticipates those who desire it, and it goes in search of those who are worthy of it (cf. Wis 6:12-16).”[210]
    115. In a world marked by AI, we need the grace of the Holy Spirit, who “enables us to look at things with God’s eyes, to see connections, situations, events and to uncover their real meaning.”[211]
    116. Since a “person’s perfection is measured not by the information or knowledge they possess, but by the depth of their charity,”[212] how we incorporate AI “to include the least of our brothers and sisters, the vulnerable, and those most in need, will be the true measure of our humanity.”[213] The “wisdom of the heart” can illuminate and guide the human-centered use of this technology to help promote the common good, care for our “common home,” advance the search for the truth, foster integral human development, favor human solidarity and fraternity, and lead humanity to its ultimate goal: happiness and full communion with God.[214]
    117. From this perspective of wisdom, believers will be able to act as moral agents capable of using this technology to promote an authentic vision of the human person and society.[215] This should be done with the understanding that technological progress is part of God’s plan for creation—an activity that we are called to order toward the Paschal Mystery of Jesus Christ, in the continual search for the True and the Good.
    The Supreme Pontiff, Francis, at the Audience granted on 14 January 2025 to the undersigned Prefects and Secretaries of the Dicastery for the Doctrine of the Faith and the Dicastery for Culture and Education, approved this Note and ordered its publication.
    Given in Rome, at the offices of the Dicastery for the Doctrine of the Faith and the Dicastery for Culture and Education, on 28 January 2025, the Liturgical Memorial of Saint Thomas Aquinas, Doctor of the Church.
    Víctor Manuel Card. Fernández                                         José Card. Tolentino de Mendonça
    Prefect                                                                           Prefect
    Msgr. Armando Matteo                                                    Most Rev. Paul Tighe
    Secretary, Doctrinal Section                                             Secretary, Culture Section
    Ex audientia die 14 ianuarii 2025
    Franciscus
    _________________
    [1] Catechism of the Catholic Church, par. 378. See also Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 34: AAS 58 (1966), 1052-1053.
    [2] Francis, Address to the Participants in the Plenary Assembly of the Pontifical Academy for Life (28 February 2020): AAS 112 (2020), 307. Cf. Id., Christmas Greetings to the Roman Curia (21 December 2019): AAS 112 (2020), 43.
    [3] Cf. Francis, Message for the LVIII World Day of Social Communications (24 January 2024): L’Osservatore Romano, 24 January 2024, 8.
    [4] Cf. Catechism of the Catholic Church, par. 2293; Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 35: AAS 58 (1966), 1053.
    [5] J. McCarthy, et al., “A Proposal for the Dartmouth Summer Research Project on Artificial Intelligence” (31 August 1955), http://www-formal.stanford.edu/jmc/history/dartmouth/dartmouth.html (accessed: 21 October 2024).
    [6] Cf. Francis, Message for the LVII World Day of Peace (1 January 2024), pars. 2-3: L’Osservatore Romano, 14 December 2023, 2.
    [7] Terms in this document describing the outputs or processes of AI are used figuratively to explain its operations and are not intended to anthropomorphize the machine.
    [8] Cf. Francis, Address at the G7 Session on Artificial Intelligence in Borgo Egnazia (Puglia) (14 June 2024): L’Osservatore Romano, 14 June 2024, 3; Id., Message for the LVII World Day of Peace (1 January 2024), par. 2: L’Osservatore Romano, 14 December 2023, 2.
    [9] Here, one can see the primary positions of the “transhumanists” and the “posthumanists.” Transhumanists argue that technological advancements will enable humans to overcome their biological limitations and enhance both their physical and cognitive abilities. Posthumanists, on the other hand, contend that such advances will ultimately alter human identity to the extent that humanity itself may no longer be considered truly “human.” Both views rest on a fundamentally negative perception of human corporality, which treats the body more as an obstacle than as an integral part of the person’s identity and call to full realization. Yet, this negative view of the body is inconsistent with a proper understanding of human dignity. While the Church supports genuine scientific progress, it affirms that human dignity is rooted in “the person as an inseparable unity of body and soul.” Thus, “dignity is also inherent in each person’s body, which participates in its own way in being in imago Dei” (Dicastery for the Doctrine of the Faith, Declaration Dignitas Infinita [8 April 2024], par. 18).
    [10] This approach reflects a functionalist perspective, which reduces the human mind to its functions and assumes that its functions can be entirely quantified in physical or mathematical terms. However, even if a future AGI were to appear truly intelligent, it would still remain functional in nature.
    [11] Cf. A.M. Turing, “Computing Machinery and Intelligence,” Mind 59 (1950) 443-460.
    [12] If “thinking” is attributed to machines, it must be clarified that this refers to calculative thinking rather than critical thinking. Similarly, if machines are said to operate using logical thinking, it must be specified that this is limited to computational logic. On the other hand, by its very nature, human thought is a creative process that eludes programming and transcends constraints.
    [13] On the foundational role of language in shaping understanding, cf. M. Heidegger, Über den Humanismus, Klostermann, Frankfurt am Main 1949 (en. tr. “Letter on Humanism,” in Basic Writings: Martin Heidegger, Routledge, London ‒ New York 2010, 141-182).
    [14] For further discussion of these anthropological and theological foundations, see AI Research Group of the Centre for Digital Culture of the Dicastery for Culture and Education, Encountering Artificial Intelligence: Ethical and Anthropological Investigations(Theological Investigations of Artificial Intelligence 1), M.J. Gaudet, N. Herzfeld, P. Scherz, J.J. Wales, eds., Journal of Moral Theology, Pickwick, Eugene 2024, 43-144.
    [15] Aristotle, Metaphysics, I.1, 980 a 21.
    [16] Cf. Augustine, De Genesi ad litteram III, 20, 30: PL 34, 292: “Man is made in the image of God in relation to that [faculty] by which he is superior to the irrational animals. Now, this [faculty] is reason itself, or the ‘mind,’ or ‘intelligence,’ whatever other name it may more suitably be given”; Id., Enarrationes in Psalmos 54, 3: PL 36, 629: “When considering all that they have, humans discover that they are most distinguished from animals precisely by the fact they possess intelligence.” This is also reiterated by Saint Thomas Aquinas, who states that “man is the most perfect of all earthly beings endowed with motion, and his proper and natural operation is intellection,” by which man abstracts from things and “receives in his mind things actually intelligible” (Thomas Aquinas, Summa Contra Gentiles II, 76).
    [17] Cf. Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 15: AAS 58 (1966), 1036.
    [18] Aquinas, Summa Theologiae, II-II, q. 49, a. 5, ad 3. Cf. ibid., I, q. 79; II-II, q. 47, a. 3; II-II, q. 49, a. 2. For a contemporary perspective that echoes elements of the classical and medieval distinction between these two modes of cognition, cf. D. Kahneman, Thinking, Fast and Slow, New York 2011.
    [19] Aquinas, Summa Theologiae, I, q. 76, a. 1, resp.
    [20] Cf. Irenaeus of Lyon, Adversus Haereses, V, 6, 1: PG 7(2), 1136-1138.
    [21] Dicastery for the Doctrine of the Faith, Declaration Dignitas Infinita (8 April 2024), par. 9. Cf. Francis, Encyclical Letter Fratelli Tutti (3 October 2020), par. 213: AAS 112 (2020), 1045: “The intellect can investigate the reality of things through reflection, experience and dialogue, and come to recognize in that reality, which transcends it, the basis of certain universal moral demands.”
    [22] Cf. Congregation for the Doctrine of the Faith, Doctrinal Note on Some Aspects of Evangelization (3 December 2007), par. 4: AAS 100 (2008), 491-492.
    [23] Catechism of the Catholic Church, par. 365. Cf. Aquinas, Summa Theologiae, I, q. 75, a. 4, resp.
    [24] Indeed, Sacred Scripture “generally considers the human person as a being who exists in the body and is unthinkable outside of it” (Pontifical Biblical Commission, “Che cosa è l’uomo?” (Sal 8,5): Un itinerario di antropologia biblica [30 September 2019], par. 19). Cf. ibid., pars. 20-21, 43-44, 48.
    [25] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 22: AAS 58 (1966), 1042: Cf. Congregation for the Doctrine of the Faith, Instruction Dignitas Personae (8 September 2008), par. 7: AAS 100 (2008), 863: “Christ did not disdain human bodiliness, but instead fully disclosed its meaning and value.”
    [26] Aquinas, Summa Contra Gentiles II, 81.
    [27] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 15: AAS 58 (1966), 1036.
    [28] Cf. Aquinas, Summa Theologiae I, q. 89, a. 1, resp.: “to be separated from the body is not in accordance with [the soul’s] nature […] and hence it is united to the body in order that it may have an existence and an operation suitable to its nature.”
    [29] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 14: AAS 58 (1966), 1035. Cf. Dicastery for the Doctrine of the Faith, Declaration Dignitas Infinita (8 April 2024), par. 18.
    [30] International Theological Commission, Communion and Stewardship: Human Persons Created in the Image of God (2004), par. 56. Cf. Catechism of the Catholic Church, par. 357.
    [31] Cf. Congregation for the Doctrine of the Faith, Instruction Dignitas Personae (8 September 2008), pars. 5, 8; Dicastery for the Doctrine of the Faith, Declaration Dignitas Infinita (8 April 2024), pars. 15, 24, 53-54.
    [32] Catechism of the Catholic Church, par. 356. Cf. ibid., par. 221.
    [33] Cf. Dicastery for the Doctrine of the Faith, Declaration Dignitas Infinita (8 April 2024), pars. 13, 26-27.
    [34] Congregation for the Doctrine of the Faith, Instruction Donum Veritatis (24 May 1990), 6: AAS 82 (1990), 1552. Cf. John Paul II, Encyclical Veritatis Splendor (6 August 1993), par. 109: AAS 85 (1993), 1219. Cf. Pseudo-Dionysius, De divinis nominibus, VII, 2: PG 3, 868B-C: “Human souls also possess reason and with it they circle in discourse around the truth of things. […] [O]n account of the manner in which they are capable of concentrating the many into the one, they too, in their own fashion and as far as they can, are worthy of conceptions like those of the angels” (en. tr. Pseudo-Dionysius: The Complete Works, Paulist Press, New York – Mahwah 1987, 106-107).
    [35] John Paul II, Encyclical Letter Fides et Ratio (14 September 1998), par. 3: AAS 91 (1999), 7.
    [36] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 15: AAS 58 (1966), 1036.
    [37] John Paul II, Encyclical Letter Fides et Ratio (14 September 1998), par. 42: AAS 91 (1999), 38. Cf. Francis, Encyclical Letter Fratelli Tutti (3 October 2020), par. 208: AAS 112 (2020), 1043: “the human mind is capable of transcending immediate concerns and grasping certain truths that are unchanging, as true now as in the past. As it peers into human nature, reason discovers universal values derived from that same nature”; ibid., par. 184: AAS 112 (2020), 1034.
    [38] Cf. B. Pascal, Pensées, no. 267 (ed. Brunschvicg): “The last proceeding of reason is to recognize that there is an infinity of things which are beyond it” (en. tr. Pascal’s Pensées, E.P. Dutton, New York 1958, 77).
    [39] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 15: AAS 58 (1966), 1036. Cf. Congregation for the Doctrine of the Faith, Doctrinal Note on Some Aspects of Evangelization (3 December 2007), par. 4: AAS 100 (2008), 491-492.
    [40] Our semantic capacity allows us to understand messages in any form of communication in a manner that both takes into account and transcends their material or empirical structures (such as computer code). Here, intelligence becomes a wisdom that “enables us to look at things with God’s eyes, to see connections, situations, events and to uncover their real meaning” (Francis, Message for the LVIII World Day of Social Communications [24 January 2024]: L’Osservatore Romano, 24 January 2024, 8). Our creativity enables us to generate new content or ideas, primarily by offering an original viewpoint on reality. Both capacities depend on the existence of a personal subjectivity for their full realization.
    [41] Second Vatican Ecumenical Council, Declaration Dignitatis Humanae (7 December 1965), par. 3: AAS 58 (1966), 931.
    [42] Cf. Francis, Encyclical Letter Fratelli Tutti (3 October 2020), par. 184: AAS 112 (2020), 1034: “Charity, when accompanied by a commitment to the truth, is much more than personal feeling […]. Indeed, its close relation to truth fosters its universality and preserves it from being ‘confined to a narrow field devoid of relationships.’ […] Charity’s openness to truth thus protects it from ‘a fideism that deprives it of its human and universal breadth.’” The internal quotes are from Benedict XVI, Encyclical Letter Caritas in Veritate (29 June 2009), pars. 2-4: AAS 101 (2009), 642-643.
    [43] Cf. International Theological Commission, Communion and Stewardship: Human Persons Created in the Image of God (2004), par. 7.
    [44] John Paul II, Encyclical Letter Fides et Ratio (14 September 1998), par. 13: AAS 91 (1999), 15. Cf. Congregation for the Doctrine of the Faith, Doctrinal Note on Some Aspects of Evangelization (3 December 2007), par. 4: AAS 100 (2008), 491-492.
    [45] John Paul II, Encyclical Letter Fides et Ratio (14 September 1998), par. 13: AAS 91 (1999), 15.
    [46] Bonaventure, In II Librum Sententiarum, d. I, p. 2, a. 2, q. 1; as quoted in Catechism of the Catholic Church, par. 293. Cf. ibid., par. 294.
    [47] Cf. Catechism of the Catholic Church, pars. 295, 299, 302. Bonaventure likens the universe to “a book reflecting, representing, and describing its Maker,” the Triune God who grants existence to all things (Breviloquium 2.12.1). Cf. Alain de Lille, De Incarnatione Christi, PL 210, 579a: “Omnis mundi creatura quasi liber et pictura nobis est et speculum.”
    [48] Cf. Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 67: AAS 107 (2015), 874; John Paul II, Encyclical Letter Laborem Exercens (14 September 1981), par. 6: AAS 73 (1981), 589-592; Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), pars. 33-34: AAS 58 (1966), 1052-1053; International Theological Commission, Communion and Stewardship: Human Persons Created in the Image of God (2004), par. 57: “human beings occupy a unique place in the universe according to the divine plan: they enjoy the privilege of sharing in the divine governance of visible creation. […] Since man’s place as ruler is in fact a participation in the divine governance of creation, we speak of it here as a form of stewardship.”
    [49] Cf. John Paul II, Encyclical Letter Veritatis Splendor (6 August 1993), pars. 38-39: AAS 85 (1993), 1164-1165.
    [50] Cf. Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), pars. 33-34: AAS 58 (1966), 1052-1053. This idea is also reflected in the creation account, where God brings creatures to Adam “to see what he would call them. And whatever [he] called every living creature, that was its name” (Gen. 2:19), an action that demonstrates the active engagement of human intelligence in the stewardship of God’s creation. Cf. John Chrysostom, Homiliae in Genesim, XIV, 17-21: PG 53, 116-117.
    [51] Cf. Catechism of the Catholic Church, par. 301.
    [52] Cf. Catechism of the Catholic Church, par. 302.
    [53] Bonaventure, Breviloquium 2.12.1. Cf. ibid., 2.11.2.
    [54] Cf. Francis, Apostolic Exhortation Evangelii Gaudium (24 November 2013), par. 236: AAS 105 (2023), 1115; Id., Address to Participants in the Meeting of University Chaplains and Pastoral Workers Promoted by the Dicastery for Culture and Education(24 November 2023): L’Osservatore Romano, 24 November 2023, 7.
    [55] Cf. J.H. Newman, The Idea of a University Defined and Illustrated, Discourse 5.1, Basil Montagu Pickering, London 18733, 99-100; Francis, Address to Rectors, Professors, Students and Staff of the Roman Pontifical Universities and Institutions (25 February 2023): AAS 115 (2023), 316.
    [56] Francis, Address to the Members of the National Confederation of Artisans and Small- and Medium-Sized Enterprises (CNA) (15 November 2024): L’Osservatore Romano, 15 November 2024, 8.
    [57] Cf. Francis, Post-Synodal Apostolic Exhortation Querida Amazonia (2 February 2020), par. 41: AAS 112 (2020), 246; Id., Encyclical Letter Laudato Si’ (24 May 2015), par. 146: AAS 107 (2015), 906.
    [58] Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 47: AAS 107 (2015), 864. Cf. Id., Encyclical Letter Dilexit Nos (24 October 2024), pars. 17-24: L’Osservatore Romano, 24 October 2024, 5; Id., Encyclical Letter Fratelli Tutti (3 October 2020), par. 47-50: AAS 112 (2020), 985-987.
    [59] Francis, Encyclical Letter Dilexit Nos (24 October 2024), par. 20: L’Osservatore Romano, 24 October 2024, 5.
    [60] P. Claudel, Conversation sur Jean Racine, Gallimard, Paris 1956, 32: “L’intelligence n’est rien sans la délectation.” Cf. Francis, Encyclical Letter Dilexit Nos (24 October 2024), par. 13: L’Osservatore Romano, 24 October 2024, 5: “The mind and the will are put at the service of the greater good by sensing and savoring truths.”
    [61] Dante, Paradiso, Canto XXX: “luce intellettüal, piena d’amore; / amor di vero ben, pien di letizia; / letizia che trascende ogne dolzore” (en. tr. The Divine Comedy of Dante Alighieri, C.E. Norton, tr., Houghton Mifflin, Boston 1920, 232).
    [62] Cf. Second Vatican Ecumenical Council, Declaration Dignitatis Humanae (7 December 1965), par. 3: AAS 58 (1966), 931: “[T]he highest norm of human life is the divine law itself—eternal, objective and universal, by which God orders, directs and governs the whole world and the ways of the human community according to a plan conceived in his wisdom and love. God has enabled man to participate in this law of his so that, under the gentle disposition of divine providence, many may be able to arrive at a deeper and deeper knowledge of unchangeable truth.” Also cf. Id., Pastoral Constitution Gaudium et Spes (7 December 1965), par. 16: AAS 58 (1966), 1037.
    [63] Cf. First Vatican Council, Dogmatic Constitution Dei Filius (24 April 1870), ch. 4, DH 3016.
    [64] Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 110: AAS 107 (2015), 892.
    [65] Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 110: AAS 107 (2015), 891. Cf. Id., Encyclical Letter Fratelli Tutti (3 October 2020), par. 204: AAS 112 (2020), 1042.
    [66] Cf. John Paul II, Encyclical Letter Centesimus Annus (1 May 1991), par. 11: AAS 83 (1991), 807: “God has imprinted his own image and likeness on man (cf. Gen 1:26), conferring upon him an incomparable dignity […]. In effect, beyond the rights which man acquires by his own work, there exist rights which do not correspond to any work he performs, but which flow from his essential dignity as a person.” Cf. Francis, Address at the G7 Session on Artificial Intelligence in Borgo Egnazia (Puglia) (14 June 2024): L’Osservatore Romano, 14 June 2024, 3-4.
    [67] Cf. Dicastery for the Doctrine of the Faith, Declaration Dignitas Infinita (8 April 2024), par. 8. Cf. ibid., par. 9; Congregation for the Doctrine of the Faith, Instruction Dignitas Personae (8 September 2008), par. 22.
    [68] Francis, Address to the Participants in the Plenary Assembly of the Pontifical Academy for Life (28 February 2020): AAS 112 (2024), 310.
    [69] Francis, Message for the LVIII World Day of Social Communications (24 January 2024): L’Osservatore Romano, 24 January 2024, 8.
    [70] In this sense, “Artificial Intelligence” is understood as a technical term to indicate this technology, recalling that the expression is also used to designate the field of study and not only its applications.
    [71] Cf. Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), pars. 34-35: AAS 58 (1966), 1052-1053; John Paul II, Encyclical Letter Centesimus Annus (1 May 1991), par. 51: AAS 83 (1991), 856-857.
    [72] For example, see the encouragement of scientific exploration in Albertus Magnus (De Mineralibus, II, 2, 1) and the appreciation for the mechanical arts in Hugh of St. Victor (Didascalicon, I, 9). These writers, among a long list of other Catholics engaged in scientific research and technological exploration, illustrate that “faith and science can be united in charity, provided that science is put at the service of the men and woman of our time and not misused to harm or even destroy them” (Francis, Address to Participants in the 2024 Lemaître Conference of the Vatican Observatory [20 June 2024]: L’Osservatore Romano, 20 June 2024, 8). Cf. Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 36: AAS 58 (1966), 1053-1054; John Paul II, Encyclical Letter Fides et Ratio (14 September 1998), pars. 2, 106: AAS 91 (1999), 6-7.86-87.
    [73] Catechism of the Catholic Church, par. 378.
    [74] Cf. Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 34: AAS 58 (1966), 1053.
    [75] Cf. Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 35: AAS 58 (1966), 1053.
    [76] Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 102: AAS 107 (2015), 888.
    [77] Cf. Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 105: AAS 107 (2015), 889; Id., Encyclical Fratelli Tutti (3 October 2020), par. 27: AAS 112 (2020), 978; Benedict XVI, Encyclical Caritas in Veritate (29 June 2009), par. 23: AAS 101 (2009), 657-658.
    [78] Cf. Dicastery for the Doctrine of the Faith, Declaration Dignitas Infinita (8 April 2024), pars. 38-39, 47; Congregation for the Doctrine of the Faith, Instruction Dignitas Personae (8 September 2008), passim.
    [79] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 35: AAS 58 (1966), 1053. Cf. Catechism of the Catholic Church, par 2293.
    [80] Cf. Francis, Address at the G7 Session on Artificial Intelligence in Borgo Egnazia (Puglia) (14 June 2024): L’Osservatore Romano, 14 June 2024, 2-4.
    [81] Cf. Catechism of the Catholic Church, par. 1749: “Freedom makes man a moral subject. When he acts deliberately, man is, so to speak, the father of his acts.”
    [82] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 16: AAS 58 (1966), 1037. Cf. Catechism of the Catholic Church, par. 1776.
    [83] Catechism of the Catholic Church, par. 1777.
    [84] Cf. Catechism of the Catholic Church, pars. 1779-1781; Francis, Address to the Participants in the “Minerva Dialogues” (27 March 2023): AAS 115 (2023), 463, where the Holy Father encouraged efforts “to ensure that technology remains human-centered, ethically grounded and directed toward the good.”
    [85] Cf. Francis, Encyclical Letter Fratelli Tutti (3 October 2020), par. 166: AAS 112 (2020), 1026-1027; Id., Address to the Plenary Assembly of the Pontifical Academy of Sciences (23 September 2024): L’Osservatore Romano, 23 September 2024, 10. On the role of human agency in choosing a wider aim (Ziel) that then informs the particular purpose (Zweck) for which each technological application is created, cf. F. Dessauer, Streit um die Technik, Herder-Bücherei, Freiburg i. Br. 1959, 70-71.
    [86] Cf. Francis, Address at the G7 Session on Artificial Intelligence in Borgo Egnazia (Puglia) (14 June 2024): L’Osservatore Romano, 14 June 2024, 4: “Technology is born for a purpose and, in its impact on human society, always represents a form of order in social relations and an arrangement of power, thus enabling certain people to perform specific actions while preventing others from performing different ones. In a more or less explicit way, this constitutive power-dimension of technology always includes the worldview of those who invented and developed it.”
    [87] Francis, Address to the Participants in the Plenary Assembly of the Pontifical Academy of Life (28 February 2020): AAS 112 (2020), 309.
    [88] Cf. Francis, Address at the G7 Session on Artificial Intelligence in Borgo Egnazia (Puglia) (14 June 2024): L’Osservatore Romano, 14 June 2024, 3-4.
    [89] Francis, Address to the Participants in the “Minerva Dialogues” (27 March 2023): AAS 115 (2023), 464. Cf. Id., Encyclical Letter Fratelli Tutti, pars. 212-213: AAS 112 (2020), 1044-1045.
    [90] Cf. John Paul II, Encyclical Letter Laborem Exercens (14 September 1981), par. 5: AAS 73 (1981), 589; Francis, Address at the G7 Session on Artificial Intelligence in Borgo Egnazia (Puglia) (14 June 2024): L’Osservatore Romano, 14 June 2024, 3-4.
    [91] Cf. Francis, Address at the G7 Session on Artificial Intelligence in Borgo Egnazia (Puglia) (14 June 2024): L’Osservatore Romano, 14 June 2024, 2: “Faced with the marvels of machines, which seem to know how to choose independently, we should be very clear that decision-making […] must always be left to the human person. We would condemn humanity to a future without hope if we took away people’s ability to make decisions about themselves and their lives, by dooming them to depend on the choices of machines.”
    [92] Francis, Address at the G7 Session on Artificial Intelligence in Borgo Egnazia (Puglia) (14 June 2024): L’Osservatore Romano, 14 June 2024, 2.
    [93] The term “bias” in this document refers to algorithmic bias (systematic and consistent errors in computer systems that may disproportionately prejudice certain groups in unintended ways) or learning bias (which will result in training on a biased data set) and not the “bias vector” in neural networks (which is a parameter used to adjust the output of “neurons” to adjust more accurately to the data).
    [94] Cf. Francis, Address to the Participants in the “Minerva Dialogues” (27 March 2023): AAS 115 (2023), 464, where the Holy Father affirmed the growth in consensus “on the need for development processes to respect such values as inclusion, transparency, security, equity, privacy and reliability,” and also welcomed “the efforts of international organizations to regulate these technologies so that they promote genuine progress, contributing, that is, to a better world and an integrally higher quality of life.”
    [95] Francis, Greetings to a Delegation of the “Max Planck Society” (23 February 2023): L’Osservatore Romano, 23 February 2023, 8.
    [96] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 26: AAS 58 (1966), 1046-1047.
    [97] Francis, Address to Participants at the Seminar “The Common Good in the Digital Age” (27 September 2019): AAS 111 (2019), 1571.
    [98] Cf. Francis, Message for the LVIII World Day of Social Communications (24 January 2024): L’Osservatore Romano, 24 January 2024, 8. For further discussion of the ethical questions raised by AI from a Catholic perspective, see AI Research Group of the Centre for Digital Culture of the Dicastery for Culture and Education, Encountering Artificial Intelligence: Ethical and Anthropological Investigations (Theological Investigations of Artificial Intelligence 1), M.J. Gaudet, N. Herzfeld, P. Scherz, J.J. Wales, eds., Journal of Moral Theology, Pickwick, Eugene 2024, 147-253.
    [99] On the importance of dialogue in a pluralist society oriented toward a “robust and solid social ethics,” see Francis, Encyclical Letter Fratelli Tutti (3 October 2020), pars. 211-214: AAS 112 (2020), 1044-1045.
    [100] Francis, Message for the LVII World Day of Peace (1 January 2024), par. 2: L’Osservatore Romano, 14 December 2023, 2.
    [101] Francis, Message for the LVII World Day of Peace (1 January 2024), par. 6: L’Osservatore Romano, 14 December 2023, 3. Cf. Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 26: AAS 58 (1966), 1046-1047.
    [102] Cf. Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 112: AAS 107 (2015), 892-893.
    [103] Francis, Address to the Participants in the “Minerva Dialogues” (27 March 2023): AAS 115 (2023), 464.
    [104] Cf. Pontifical Council for Social Communications, Ethics in Internet (22 February 2002), par. 10.
    [105] Francis, Post-Synodal Exhortation Christus Vivit (25 March 2019), par. 89: AAS 111 (2019), 413-414; quoting the Final Document of the XV Ordinary General Assembly of the Synod of Bishops (27 October 2018), par. 24: AAS 110 (2018), 1593. Cf. Benedict XVI, Address to the Participants in the International Congress on Natural Moral Law (12 February 2017): AAS 99 (2007), 245.
    [106] Cf. Francis, Encyclical Letter Laudato Si’ (24 May 2015), pars. 105-114: AAS 107 (2015), 889-893; Id., Apostolic Exhortation Laudate Deum (4 October 2023), pars. 20-33: AAS 115 (2023), 1047-1050.
    [107] Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 105: AAS 107 (2015), 889. Cf. Id., Apostolic Exhortation Laudate Deum (4 October 2023), pars. 20-21: AAS 115 (2023), 1047.
    [108] Cf. Francis, Address to the Participants in the Plenary Assembly of the Pontifical Academy for Life (28 February 2020): AAS 112 (2020), 308-309.
    [109] Francis, Message for the LVII World Day of Peace (1 January 2024), par. 2: L’Osservatore Romano, 14 December 2023, 2.
    [110] Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 112: AAS 107 (2015), 892.
    [111] Cf. Francis, Encyclical Letter Fratelli Tutti (3 October 2020), pars. 101, 103, 111, 115, 167: AAS 112 (2020), 1004-1005, 1007-1009, 1027.
    [112] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 26: AAS 58 (1966), 1046-1047; cf. Leo XIII, Encyclical Letter Rerum Novarum (15 May 1891), par. 35: Acta Leonis XIII, 11 (1892), 123.
    [113] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 12: AAS 58 (1966), 1034.
    [114] Cf. Pontifical Council for Justice and Peace, Compendium of the Social Doctrine of the Church (2004), par. 149.
    [115] Second Vatican Ecumenical Council, Declaration Dignitatis Humanae (7 December 1965), par. 3: AAS 58 (1966), 931. Cf. Francis, Encyclical Letter Fratelli Tutti (3 October 2020), par. 50: AAS 112 (2020), 986-987.
    [116] Francis, Encyclical Letter Fratelli Tutti (3 October 2020), par. 50: AAS 112 (2020), 986-987.
    [117] Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 47: AAS 107 (2015), 865. Cf. Id., Post-Synodal Exhortation Christus Vivit (25 March 2019), pars. 88-89: AAS 111 (2019), 413-414.
    [118] Cf. Francis, Apostolic Exhortation Evangelii Gaudium (24 November 2013), par. 88: AAS 105 (2013), 1057.
    [119] Francis, Encyclical Letter Fratelli Tutti (3 October 2020), par. 47: AAS 112 (2020), 985.
    [120] Cf. Francis, Address at the G7 Session on Artificial Intelligence in Borgo Egnazia (Puglia) (14 June 2024): L’Osservatore Romano, 14 June 2024, 2.
    [121] Cf. Francis, Encyclical Letter Fratelli Tutti (3 October 2020), par. 50: AAS 112 (2020), 986-987.
    [122] Cf. E. Stein, Zum Problem der Einfühlung, Buchdruckerei des Waisenhauses, Halle 1917 (en. tr. On the Problem of Empathy, ICS Publications, Washington D.C. 1989).
    [123] Cf. Francis, Apostolic Exhortation Evangelii Gaudium (24 November 2013), par. 88: AAS 105 (2013), 1057: “[Many people] want their interpersonal relationships provided by sophisticated equipment, by screens and systems which can be turned on and off on command. Meanwhile, the Gospel tells us constantly to run the risk of a face-to-face encounter with others, with their physical presence which challenges us, with their pain and their pleas, with their joy which infects us in our close and continuous interaction. True faith in the incarnate Son of God is inseparable from self-giving, from membership in the community, from service, from reconciliation with others.” Also cf. Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 24: AAS 58 (1966), 1044-1045.
    [124] Cf. Dicastery for the Doctrine of the Faith, Declaration Dignitas Infinita (8 April 2024), par. 1.
    [125] Cf. Francis, Address to Participants at the Seminar “The Common Good in the Digital Age” (27 September 2019): AAS 111 (2019), 1570; Id, Encyclical Letter Laudato Si’ (24 May 2015), pars. 18, 124-129: AAS 107 (2015), 854.897-899.
    [126] Francis, Message for the LVII World Day of Peace (1 January 2024), par. 5: L’Osservatore Romano, 14 December 2023, 3.
    [127] Francis, Apostolic Exhortation Evangelii Gaudium (24 November 2013), par. 209: AAS 105 (2013), 1107.
    [128] Francis, Address at the G7 Session on Artificial Intelligence in Borgo Egnazia (Puglia) (14 June 2024): L’Osservatore Romano, 14 June 2024, 4. For Pope Francis’ teaching about AI in relationship to the “technocratic paradigm,” cf. Id., Encyclical Laudato Si’ (24 May 2015), pars. 106-114: AAS 107 (2015), 889-893.
    [129] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 26: AAS 58 (1966), 1046-1047.; as quoted in Catechism of the Catholic Church, par. 1912. Cf. John XXIII, Encyclical Letter Mater et Magistra (15 May 1961), par. 219: AAS 53 (1961), 453.
    [130] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par 64: AAS 58 (1966), 1086.
    [131] Francis, Encyclical Letter Fratelli Tutti (3 October 2020), par. 162: AAS 112 (2020), 1025. Cf. John Paul II, Encyclical Letter Laborem Exercens (14 September 1981), par. 6: AAS 73 (1981), 591: “work is ‘for man’ and not man ‘for work.’ Through this conclusion one rightly comes to recognize the pre-eminence of the subjective meaning of work over the objective one.”
    [132] Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 128: AAS 107 (2015), 898. Cf. Id., Post-Synodal Apostolic Exhortation Amoris Laetitia (19 March 2016), par. 24: AAS 108 (2016), 319-320.
    [133] Francis, Message for the LVII World Day of Peace (1 January 2024), par. 5: L’Osservatore Romano, 14 December 2023, 3.
    [134] John Paul II, Encyclical Letter Evangelium Vitae (25 March 1995), par. 89: AAS 87 (1995), 502.
    [135] Ibid.
    [136] Francis, Encyclical Letter Fratelli Tutti (3 October 2020), par. 67: AAS 112 (2020), 993; as quoted in Id., Message for the XXXI World Day of the Sick (11 February 2023): L’Osservatore Romano, 10 January 2023, 8.
    [137] Francis, Message for the XXXII World Day of the Sick (11 February 2024): L’Osservatore Romano, 13 January 2024, 12.
    [138] Francis, Address to the Diplomatic Corps Accredited to the Holy See (11 January 2016): AAS 108 (2016), 120. Cf. Id., Encyclical Letter Fratelli Tutti (3 October 2020), par. 18: AAS 112 (2020), 975; Id., Message for the XXXII World Day of the Sick(11 February 2024): L’Osservatore Romano, 13 January 2024, 12.
    [139] Cf. Francis, Address to the Participants in the “Minerva Dialogues” (27 March 2023): AAS 115 (2023), 465; Id., Address at the G7 Session on Artificial Intelligence in Borgo Egnazia (Puglia) (14 June 2024): L’Osservatore Romano, 14 June 2024, 2.
    [140] Cf. Francis, Encyclical Letter Laudato Si’ (24 May 2015), pars. 105, 107: AAS 107 (2015), 889-890; Id., Encyclical Letter Fratelli Tutti (3 October 2020), pars. 18-21: AAS 112 (2020), 975-976; Id., Address to the Participants in the “Minerva Dialogues”(27 March 2023): AAS 115 (2023), 465.
    [141] Francis, Address to the Participants at the Meeting Sponsored by the Charity and Health Commission of the Italian Bishops’ Conference (10 February 2017): AAS 109 (2017), 243. Cf. ibid., 242-243: “If there is a sector in which the throwaway culture is manifest, with its painful consequences, it is that of healthcare. When a sick person is not placed in the center or their dignity is not considered, this gives rise to attitudes that can lead even to speculation on the misfortune of others. And this is very grave! […] The application of a business approach to the healthcare sector, if indiscriminate […] may risk discarding human beings.”
    [142] Francis, Message for the LVII World Day of Peace (1 January 2024), par. 5: L’Osservatore Romano, 14 December 2023, 3.
    [143] Second Vatican Ecumenical Council, Declaration Gravissimum Educationis (28 October 1965), par. 1: AAS 58 (1966), 729.
    [144] Congregation for Catholic Education, Instruction on the Use of Distance Learning in Ecclesiastical Universities and Faculties, I. Cf. Second Vatican Ecumenical Council, Declaration Gravissimum Educationis (28 October 1965), par. 1: AAS 58 (1966), 729; Francis, Message for the LXIX World Day of Peace (1 January 2016), 6: AAS 108 (2016), 57-58.
    [145] Francis, Address to Members of the Global Researchers Advancing Catholic Education Project (20 April 2022): AAS 114 (2022), 580.
    [146] Cf. Paul VI, Apostolic Exhortation Evangelii Nuntiandi (8 December 1975), par. 41: AAS 68 (1976), 31, quoting Id., Address to the Members of the “Consilium de Laicis” (2 October 1974): AAS 66 (1974), 568: “if [the contemporary person] does listen to teachers, it is because they are witnesses.”
    [147] J.H. Newman, The Idea of a University Defined and Illustrated, Discourse 6.1, London 18733, 125-126.
    [148] Francis, Meeting with the Students of the Barbarigo College of Padua in the 100th Year of its Foundation (23 March 2019): L’Osservatore Romano, 24 March 2019, 8. Cf. Id., Address to Rectors, Professors, Students and Staff of the Roman Pontifical Universities and Institutions (25 February 2023): AAS 115 (2023), 316.
    [149] Francis, Post-Synodal Apostolic Exhortation Christus Vivit (25 March 2019), par. 86: AAS 111 (2019), 413, quoting the XV Ordinary General Assembly of the Synod of Bishops, Final Document (27 October 2018), par. 21: AAS 110 (2018), 1592.
    [150] J.H. Newman, The Idea of a University Defined and Illustrated, Discourse 7.6, Basil Montagu Pickering, London 18733, 167.
    [151] Cf. Francis, Post-Synodal Apostolic Exhortation Christus Vivit (25 March 2019), par. 88: AAS 111 (2019), 413.
    [152] In a 2023 policy document about the use of generative AI in education and research, UNESCO notes: “One of the key questions [of the use of generative AI (GenAI) in education and research] is whether humans can possibly cede basic levels of thinking and skill-acquisition processes to AI and rather concentrate on higher-order thinking skills based on the outputs provided by AI. Writing, for example, is often associated with the structuring of thinking. With GenAI […], humans can now start with a well-structured outline provided by GenAI. Some experts have characterized the use of GenAI to generate text in this way as ‘writing without thinking’” (UNESCO, Guidance for Generative AI in Education and Research [2023], 37-38). The German-American philosopher Hannah Arendt foresaw such a possibility in her 1959 book, The Human Condition, and cautioned: “If it should turn out to be true that knowledge (in the sense of know-how) and thought have parted company for good, then we would indeed become the helpless slaves, not so much of our machines as of our know-how” (Id., The Human Condition, University of Chicago Press, Chicago 20182, 3).
    [153] Francis, Post-Synodal Apostolic Exhortation Amoris Laetitia (19 March 2016), par. 262: AAS 108 (2016), 417.
    [154] Francis, Message for the LVII World Day of Peace (1 January 2024), par. 7: L’Osservatore Romano, 14 December 2023, 3; cf. Id., Encyclical Letter Laudato Si’ (24 May 2015), par. 167: AAS 107 (2015), 914.
    [155] John Paul II, Apostolic Constitution Ex Corde Ecclesiae (15 August 1990), 7: AAS 82 (1990), 1479.
    [156] Francis, Apostolic Constitution Veritatis Gaudium (29 January 2018), 4c: AAS 110 (2018), 9-10.
    [157] Francis, Address at the G7 Session on Artificial Intelligence in Borgo Egnazia (Puglia) (14 June 2024): L’Osservatore Romano, 14 June 2024, 3.
    [158] For example, it might help people access the “array of resources for generating greater knowledge of truth” contained in the works of philosophy (John Paul II, Encyclical Letter Fides et Ratio [14 September 1998], par. 3: AAS 91 [1999], 7). Cf. ibid., par. 4: AAS 91 (1999), 7-8.
    [159] Dicastery for the Doctrine of the Faith, Declaration Dignitas Infinita (8 April 2024), par. 43. Cf. ibid., pars. 61-62.
    [160] Francis, Message for the LVIII World Day of Social Communications (24 January 2024): L’Osservatore Romano, 24 January 2024, 8.
    [161] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par 25: AAS 58 (1966), 1053; cf. Francis, Encyclical Letter Fratelli Tutti (3 October 2020), passim: AAS 112 (2020), 969-1074.
    [162] Cf. Francis., Post-Synodal Exhortation Christus Vivit (25 March 2019), par. 89: AAS 111 (2019), 414; John Paul II, Encyclical Letter Fides et Ratio (14 September 1998), par. 25: AAS 91 (1999), 25-26: “People cannot be genuinely indifferent to the question of whether what they know is true or not. […] It is this that Saint Augustine teaches when he writes: ‘I have met many who wanted to deceive, but none who wanted to be deceived’”; quoting Augustine, Confessiones, X, 23, 33: PL 32, 794.
    [163] Dicastery for the Doctrine of the Faith, Declaration Dignitas Infinita (4 April 2024), par. 62.
    [164] Benedict XVI, Message for the XLIII World Day of Social Communications (24 May 2009): L’Osservatore Romano, 24 January 2009, 8.
    [165] Cf. Dicastery for Communications, Towards Full Presence: A Pastoral Reflection on Engagement with Social Media (28 May 2023), par. 41; Second Vatican Ecumenical Council, Decree Inter Mirifica (4 December 1963), pars. 4, 8-12: AAS 56 (1964), 146, 148-149.
    [166] Dicastery for the Doctrine of the Faith, Declaration Dignitas Infinita (4 April 2024), pars. 1, 6, 16, 24.
    [167] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes, (7 December 1965), par. 26: AAS 58 (1966), 1046. Cf. Leo XIII, Encyclical Letter Rerum Novarum (15 May 1891), par. 40: Acta Leonis XIII, 11 (1892), 127: “no man may with impunity violate that human dignity which God himself treats with great reverence”; as quoted in John Paul II, Encyclical Letter Centesimus Annus (1 May 1991), par. 9: AAS 83 (1991), 804.
    [168] Cf. Catechism of the Catholic Church, pars. 2477, 2489; can. 220 CIC; can. 23 CCEO; John Paul II, Address to the Third General Conference of the Latin American Episcopate (28 January 1979), III.1-2: Insegnamenti II/1 (1979), 202-203.
    [169] Cf. Permanent Observer Mission of the Holy See to the United Nations, Holy See Statement to the Thematic Discussion on Other Disarmament Measures and International Security (24 October 2022): “Upholding human dignity in cyberspace obliges States to also respect the right to privacy, by shielding citizens from intrusive surveillance and allowing them to safeguard their personal information from unauthorized access.”
    [170] Francis, Encyclical Letter Fratelli Tutti (3 October 2020), par. 42: AAS 112 (2020), 984.
    [171] Francis, Message for the LVII World Day of Peace (1 January 2024), par. 5: L’Osservatore Romano, 14 December 2023, 3.
    [172] Francis, Address to the Participants in the “Minerva Dialogues” (27 March 2023): AAS 115 (2023), 465.
    [173] The 2023 Interim Report of the United Nations AI Advisory Body identified a list of “early promises of AI helping to address climate change” (United Nations AI Advisory Body, Interim Report: Governing AI for Humanity [December 2023], 3). The document observed that, “taken together with predictive systems that can transform data into insights and insights into actions, AI-enabled tools may help develop new strategies and investments to reduce emissions, influence new private sector investments in net zero, protect biodiversity, and build broad-based social resilience” (ibid.).
    [174] “The cloud” refers to a network of physical servers throughout the world that enables users to store, process, and manage their data remotely.
    [175] Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 9: AAS 107 (2015), 850.
    [176] Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 106: AAS 107 (2015), 890.
    [177] Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 60: AAS 107 (2015), 870.
    [178] Francis, Encyclical Letter Laudato Si’ (24 May 2015), pars. 3, 13: AAS 107 (2015), 848.852.
    [179] Augustine, De Civitate Dei, XIX, 13, 1: PL 41, 640.
    [180] Cf. Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), pars. 77-82: AAS 58 (1966), 1100-1107; Francis, Encyclical Letter Fratelli Tutti (3 October 2020), pars. 256-262: AAS 112 (2020), 1060-1063; Dicastery for the Doctrine of the Faith, Declaration Dignitas Infinita (4 April 2024), pars. 38-39; Catechism of the Catholic Church, pars. 2302-2317.
    [181] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 78: AAS 58 (1966), 1101.
    [182] Francis, Message for the LVII World Day of Peace (1 January 2024), par. 6: L’Osservatore Romano, 14 December 2023, 3.
    [183] Cf. Catechism of the Catholic Church, pars. 2308-2310.
    [184] Cf. Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), pars. 80-81: AAS 58 (1966), 1103-1105.
    [185] Francis, Message for the LVII World Day of Peace (1 January 2024), par. 6: L’Osservatore Romano, 14 December 2023, 3. Cf. Id., Address at the G7 Session on Artificial Intelligence in Borgo Egnazia (Puglia) (14 June 2024): L’Osservatore Romano, 14 June 2024, 2: “We need to ensure and safeguard a space for proper human control over the choices made by artificial intelligence programs: human dignity itself depends on it.”
    [186] Francis, Address at the G7 Session on Artificial Intelligence in Borgo Egnazia (Puglia) (14 June 2024): L’Osservatore Romano, 14 June 2024, 2. Cf. Permanent Observer Mission of the Holy See to the United Nations, Holy See Statement to Working Group II on Emerging Technologies at the UN Disarmament Commission (3 April 2024): “The development and use of lethal autonomous weapons systems (LAWS) that lack the appropriate human control would pose fundamental ethical concerns, given that LAWS can never be morally responsible subjects capable of complying with international humanitarian law.”
    [187] Francis, Encyclical Letter Fratelli Tutti (3 October 2020), par. 258: AAS 112 (2020), 1061. Cf. Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 80: AAS 58 (1966), 1103-1104.
    [188] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 80: AAS 58 (1966), 1103-1104.
    [189] Cf. Francis, Message for the LVII World Day of Peace (1 January 2024), par. 6: L’Osservatore Romano, 14 December 2023, 3: “Nor can we ignore the possibility of sophisticated weapons ending up in the wrong hands, facilitating, for instance, terrorist attacks or interventions aimed at destabilizing the institutions of legitimate systems of government. In a word, the world does not need new technologies that contribute to the unjust development of commerce and the weapons trade and consequently end up promoting the folly of war.”
    [190] John Paul II, Act of Entrustment to Mary for the Jubilee of Bishops (8 October 2000), par. 3: Insegnamenti XXIII/2 (200), 565.
    [191] Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 79: AAS 107 (2015), 878.
    [192] Cf. Benedict XVI, Encyclical Letter Caritas in Veritate (29 June 2009), par. 51: AAS 101 (2009), 687.
    [193] Cf. Dicastery for the Doctrine of the Faith, Declaration Dignitas Infinita (8 April 2024), pars. 38-39.
    [194] Cf. Augustine, Confessiones, I, 1, 1: PL 32, 661.
    [195] Cf. John Paul II, Encyclical Letter Sollicitudo Rei Socialis (30 December 1987), par. 28: AAS 80 (1988), 548: “[T]here is a better understanding today that the mere accumulation of goods and services […] is not enough for the realization of human happiness. Nor, in consequence, does the availability of the many real benefits provided in recent times by science and technology, including the computer sciences, bring freedom from every form of slavery. On the contrary, […] unless all the considerable body of resources and potential at man’s disposal is guided by a moral understanding and by an orientation towards the true good of the human race, it easily turns against man to oppress him.” Cf. ibid., pars. 29, 37: AAS 80 (1988), 550-551.563-564.
    [196] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 14: AAS 58 (1966), 1036.
    [197] Francis, Encyclical Letter Dilexit Nos (24 October 2024), par. 18: L’Osservatore Romano, 24 October 2024, 5.
    [198] Francis, Encyclical Letter Dilexit Nos (24 October 2024), par. 27: L’Osservatore Romano, 24 October 2024, 6.
    [199] Francis, Encyclical Letter Dilexit Nos (24 October 2024), par. 25: L’Osservatore Romano, 24 October 2024, 5-6.
    [200] Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 105: AAS 107 (2015), 889. Cf. R. Guardini, Das Ende der Neuzeit, Würzburg 19659, 87 ff. (en. tr. The End of the Modern World, Wilmington 1998, 82-83).
    [201] Second Vatican Ecumenical Council, Pastoral Constitution Gaudium et Spes (7 December 1965), par. 34: AAS 58 (1966), 1053.
    [202] John Paul II, Encyclical Letter Redemptor Hominis (4 March 1979), par. 15: AAS 71 (1979), 287-288.
    [203] N. Berdyaev, “Man and Machine,” in C. Mitcham – R. Mackey, eds., Philosophy and Technology: Readings in the Philosophical Problems of Technology, New York 19832, 212-213.
    [204] N. Berdyaev, “Man and Machine,” 210.
    [205] G. Bernanos, “La révolution de la liberté” (1944), in Id., Le Chemin de la Croix-des-Âmes, Rocher 1987, 829.
    [206] Cf. Francis, Meeting with the Students of the Barbarigo College of Padua in the 100th Year of its Foundation (23 March 2019): L’Osservatore Romano, 24 March 2019, 8. Cf. Id., Address to Rectors, Professors, Students and Staff of the Roman Pontifical Universities and Institutions (25 February 2023).
    [207] Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 112: AAS 107 (2015), 892-893.
    [208] Cf. Bonaventure, Hex. XIX, 3; Francis, Encyclical Letter Fratelli Tutti (3 October 2020), par. 50: AAS 112 (2020), 986: “The flood of information at our fingertips does not make for greater wisdom. Wisdom is not born of quick searches on the internet nor is it a mass of unverified data. That is not the way to mature in the encounter with truth.”
    [209] Francis, Message for the LVIII World Day of Social Communications (24 January 2024): L’Osservatore Romano, 24 January 2024, 8.
    [210] Ibid.
    [211] Ibid.
    [212] Francis, Apostolic Exhortation Gaudete et Exsultate (19 March 2018), par. 37: AAS 110 (2018), 1121.
    [213] Francis, Message for the LVII World Day of Peace (1 January 2024), par. 6: L’Osservatore Romano, 14 December 2023, 3. Cf. Id., Encyclical Letter Laudato Si’ (24 May 2015), par. 112: AAS 107 (2015), 892-893; Id., Apostolic Exhortation Gaudete et Exsultate (19 March 2018), par. 46: AAS 110 (2018), 1123-1124.
    [214] Cf. Francis, Encyclical Letter Laudato Si’ (24 May 2015), par. 112: AAS 107 (2015), 892-893.
    [215] Cf. Francis, Address to the Participants in the Seminar “The Common Good in the Digital Age” (27 September 2019): AAS 111 (2019), 1570-1571.

    MIL OSI Europe News

  • MIL-OSI Asia-Pac: CFS follows up on beverages that might contain high levels of chlorate

    Source: Hong Kong Government special administrative region

    CFS follows up on beverages that might contain high levels of chlorate
    CFS follows up on beverages that might contain high levels of chlorate
    **********************************************************************

         The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department is very concerned about media reports on some batches of several kinds of beverages of the Coca-Cola Company that might contain higher levels of chlorate which are being recalled in certain areas in Europe. The CFS today (January 28) has contacted local importers and retailers to follow up on the incident. A preliminary investigation by the CFS revealed that Swire Coca-Cola HK Ltd has not imported or sold the affected batches of products.     Chlorate is a pesticide and a disinfectant against bacteria. Long-term intake of excessive chlorate may affect the thyroid function. Members of the public are advised not to consume the affected batches of the products if they have purchased any overseas. The trade should also stop using or selling the products concerned immediately.     Details of the products concerned are as follows:(1)Brand: FUZE TEAProduct name: BLACK TEA PEACH HIBISCUS, GREEN TEA MANGO CHAMOMILE, SPARKLING BLACK TEA LEMONProduction code: 328GE to 338GEPackaging: 200ml glass, 250ml can and 330ml can(2)Brand: FANTAProduct name: ORANGE, ZERO SUGAR ORANGE, AGRUMES, EXOTIC, LEMON, ZERO SUGAR PINEAPPLE GRAPEFRUITProduction code: 328GE to 338GEPackaging: 200ml glass, 250ml can and 330ml can(3)Brand: MINUTE MAIDProduct name: MULTIVITAMINS, APPLE Production code: 328GE to 338GEPackaging: 200ml glass and 150ml can(4)Brand: COCA-COLAProduct name: ORIGINAL TASTE, ZERO SUGAR, ZERO SUGAR NO CAFFEINE, LIGHT, CHERRY, ZERO SUGAR CHERRY, ZERO SUGAR VANILLAProduction code: 328GE to 338GEPackaging: 200ml glass, 1 litre glass, 150ml can, 250ml can and 330ml can(5)Brand: NALUProduct name: ENERGY GREEN, EXOTIC, BOTANICAL YUZU ROSEMARY, FROST, BOTANICAL STRAWBERRY RHUBARBProduction code: 328GE to 338GEPackaging: 250ml can and 330ml can(6)Brand: ROYAL BLISSProduct name: TONIC WATER, AGRUMES YLANG YLANGProduction code: 328GE to 338GEPackaging: 250ml can(7)Brand: SPRITEProduct name: LEMON-LIME, ZERO SUGAR Production code: 328GE to 338GEPackaging: 250ml can and 330ml can(8)Brand: TROPICOProduct name: L’ORIGINALProduction code: 328GE to 338GEPackaging: 330ml can     The CFS will closely monitor the progress of the incident. An investigation is ongoing.

     
    Ends/Tuesday, January 28, 2025Issued at HKT 19:43

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI: LQUID Finance Announces Launch of LQUID PAY: Bridging Traditional and Decentralized Finance

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Jan. 28, 2025 (GLOBE NEWSWIRE) — LQUID Finance has introduced LQUID PAY, a self-custodian payment platform designed to simplify the use of digital assets in everyday transactions. This platform integrates blockchain technology with the convenience of a globally accepted Visa-powered card, allowing users to spend their digital assets seamlessly while maintaining full control over their funds.

    LQUID PAY addresses long-standing challenges in the financial world by enabling users to conduct transactions directly from their on-chain wallets. With automatic cryptocurrency-to-fiat conversions, the platform ensures a smooth and intuitive experience for users managing digital and traditional assets.

    The launch focuses on bridging the gap between traditional financial systems and the expanding Web3 ecosystem. Designed with inclusivity in mind, LQUID PAY brings decentralized finance to a wider audience, offering secure and transparent payment options.

    CEO, Shavez, shared his vision for the platform, stating, “At LQUID Finance, we are committed to creating tools that make finance simpler and more accessible. LQUID PAY represents our step forward in empowering individuals and businesses to use digital assets effortlessly, securely, and globally.”

    The Asian market, home to the largest segment of cryptocurrency users, plays a key role in the launch. LQUID PAY is positioned to serve this market by eliminating barriers to the use of digital assets in real-world transactions. By prioritizing user control, transparency, and accessibility, LQUID PAY sets a new standard for financial tools in the digital era.

    About LQUID Finance:
    LQUID Finance is committed to redefining financial systems by integrating decentralized and traditional finance. With a focus on innovation, security, and accessibility, the company builds solutions that meet the needs of a rapidly evolving global economy.

    Media Contact Details

    Company Name: LQUID FINANCE
    Company Website: https://www.lquid.finance/
    Concerned Person: Shavez Anwar
    Company Email: shavez@lquid.finance

    Disclaimer: This press release is provided by LQUID FINANCE. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d4535329-bbed-4642-a720-ed54e76c5c43

    The MIL Network

  • MIL-OSI: Form 8.3 – [LOUNGERS PLC – 27 01 2025] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary Clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
    N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree
    LOUNGERS PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure

    27 JANUARY 2025

    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”
    N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 1p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 1,293,414 1.2441    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 1,293,414 1.2441    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    1p ORDINARY SALE 1,325 320.52p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD
    Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position
    Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.
    Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option
    Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion
    Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 28 JANUARY 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network

  • MIL-OSI: Hyperscale Data Announces 31 Consecutive Monthly Cash Dividend Payments Timely Paid for Series D Cumulative Redeemable Perpetual Preferred Stock

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Jan. 28, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that it has successfully paid 31 consecutive monthly cash dividends for its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock (the “Series D Preferred Stock”). Dividends on the Series D Preferred Stock are cumulative and are payable out of amounts legally available therefor at a rate equal to 13.00% per annum per $25.00 of stated liquidation preference per share, or $0.2708333 per share of Series D Preferred Stock per month.

    Milton “Todd” Ault III, Founder and Executive Chairman of the Company, stated, “As we approach the three-year mark of consecutive dividend payments, the Company remains dedicated to enhancing its overall credit profile while delivering consistent value for existing stockholders. We are proud of the consistency of this dividend and remain committed to the Series D Preferred Stock.”

    Link to NYSE quote for the Company’s 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock: https://www.nyse.com/quote/XASE:GPUSpD

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors, and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Hyperscale Data is transitioning from a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact to becoming solely an owner and operator of data centers to support high performance computing services. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides, through its wholly owned subsidiary, Ault Capital Group, Inc., mission-critical products that support a diverse range of industries, including an artificial intelligence software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; Hyperscale Data, Inc.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8- K. All filings are available at www.sec.gov and on the Company’s website at www.hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network

  • MIL-OSI: Symbotic Completes Acquisition of Walmart’s Advanced Systems and Robotics Business and Signs Related Commercial Agreement

    Source: GlobeNewswire (MIL-OSI)

    WILMINGTON, Mass., Jan. 28, 2025 (GLOBE NEWSWIRE) —  Symbotic Inc. (Nasdaq: SYM), a leader in A.I.-enabled robotics technology for the supply chain, today announced it has both completed the acquisition of the Advanced Systems and Robotics business from Walmart (NYSE: WMT) and signed the related commercial agreement with Walmart covering the development and deployment of automation systems for Accelerated Pickup and Delivery centers (“APDs”) at Walmart stores (the “Commercial Agreement”).

    Walmart has chosen Symbotic to develop, build and deploy an advanced solution leveraging Symbotic’s A.I.-enabled robotics platform to offer Walmart customers greater shopping convenience through accelerated online pickup and delivery options at stores. Under the terms of the Commercial Agreement, Symbotic will engage in a development program funded by Walmart to enhance current online pickup and delivery fulfillment systems as well as to design new systems to meet the needs of current and future customers. If performance criteria are achieved, Walmart is committed to purchasing and deploying systems for 400 APDs at stores over a multi-year period, with Walmart’s option to add additional APDs in the coming years. Associated with the development program, Walmart will pay Symbotic a total of $520 million, including $230 million that was paid at the closing of the acquisition of the Advanced Systems and Robotics business from Walmart.

    The transaction and new agreement could increase Symbotic’s future backlog by more than $5 billion and adds a micro-fulfillment solution that expands its addressable market by more than $300 billion in the United States alone.

    “We’re excited to expand upon our long-term relationship with Walmart while broadening our product offering to automation at the store to support the growth of eCommerce,” said Rick Cohen, Chairman and Chief Executive Officer of Symbotic.

    ABOUT SYMBOTIC

    Symbotic is an automation technology leader reimagining the supply chain with its end-to-end, A.I.-powered robotic and software platform. Symbotic reinvents the warehouse as a strategic asset for the world’s largest retail, wholesale, and food & beverage companies. Applying next-generation technology, high-density storage and machine learning to solve today’s complex distribution challenges, Symbotic enables companies to move goods with unmatched speed, agility, accuracy and efficiency. As the backbone of commerce, Symbotic transforms the flow of goods and the economics of the supply chain for its customers. For more information, visit www.symbotic.com.

    FORWARD-LOOKING STATEMENTS

    This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but are not limited to, our expectations or predictions of future financial or business performance or conditions. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning our possible or assumed future actions, business strategies, events, backlog, or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” or “intends” or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Certain of these risks are identified and discussed in Symbotic’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein. These risk factors will be important to consider in determining future results and should be reviewed in their entirety. These forward-looking statements are expressed in good faith, and Symbotic believes there is a reasonable basis for them. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Symbotic is not under any obligation, and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports, which Symbotic has filed or will file from time to time with the SEC.

    In addition to factors previously disclosed in Symbotic’s filings with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: failure to realize the benefits expected from the transactions described herein (the “Transactions”); business disruption following the Transactions; the occurrence of any event, change or other circumstance that could give rise to the termination of the agreements entered into in connection with the Transactions, including the Commercial Agreement; the effect of the Transactions on Symbotic’s business relationships, performance, and business generally; the amount of the costs, fees, expenses and other charges related to the Transactions; and other consequences associated with joint ventures and legislative and regulatory actions and reforms.

    Any financial projections in this communication are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond Symbotic’s control. While all projections are necessarily speculative, Symbotic believes that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying the projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The inclusion of projections in this communication should not be regarded as an indication that Symbotic or its representatives considered or consider the projections to be a reliable prediction of future events.

    Annualized, pro forma, projected and estimated numbers are used for illustrative purposes only, are not forecasts and may not reflect actual results.

    This communication is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Symbotic and is not intended to form the basis of an investment decision in Symbotic. All subsequent written and oral forward-looking statements concerning Symbotic, the Transactions or other matters and attributable to Symbotic or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.

    INVESTOR RELATIONS CONTACT

    Charlie Anderson
    Vice President, Investor Relations & Corporate Development
    ir@symbotic.com

    MEDIA INQUIRIES

    mediainquiry@symbotic.com

    The MIL Network

  • MIL-OSI: MEXC Leads Q4 2024 Meme Trading Wave: 140% QoQ Volume Growth & 240 New Projects Added

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Jan. 28, 2025 (GLOBE NEWSWIRE) — MEXC, the world-leading digital asset trading platform, saw significant growth in memecoin trading during Q4 2024. Data shows that the overall trading volume of memecoins on the platform, including Spot and Futures, surged by 140% quarter-over-quarter. The proportion of daily active users trading memecoins climbed to 35.8%, while the proportion of daily average trading volume more than doubled to 18.8%.

    MEXC took strategic steps to enhance its memecoin trading services by launching the Meme+ zone on December 24, 2024. The dedicated zone proved highly successful, with approximately 124 popular memecoins listed within its first month of operation. This initiative generated significant momentum, leading to continued growth in memecoin trading activity on MEXC in January 2025. User engagement reached new heights, with the percentage of daily trading users increasing to 37.1%, while memecoins came to represent 25.9% of the platform’s average daily trading volume.

    MEXC demonstrated strong market leadership in Q4 2024 by strategically focusing on the memecoin sector, successfully introducing more than 240 high-quality meme projects to its platform. The exchange’s careful project selection proved highly successful, with the top 5 newly listed memecoins in 2024 achieving remarkable results – their prices recorded an average peak gain of over 8,700%, while standout performers KEKIUS and FWOG surpassed 10,000% gains. Market capitalization metrics were equally impressive, with the top 5 memecoins averaging peak gains of over 3,500%, notably led by PNUT which achieved an exceptional maximum gain of more than 7,000%.

    To enhance its asset offerings, MEXC recently introduced a new feature allowing users to search for trading pairs using contract addresses. This aims to help users identify target trading pairs more quickly and accurately, providing a more efficient trading experience and enhancing their overall journey.

    In a move to enhance platform functionality, MEXC has introduced a new contract address search feature for trading pairs, enabling users to locate specific trading pairs with greater precision and speed. This enhancement streamlines the trading process, making it more efficient for users to find and access their desired trading pairs. The feature allows users to input token contract addresses into MEXC’s global search or Spot trading search bar to accurately locate tokens. This is particularly valuable in the active memecoin market, where similar token names can cause confusion and bring investment risk. By utilizing contract addresses—the unique identifier for tokens on the blockchain—this search mechanism ensures precision and provides users with enhanced security.

    About MEXC

    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 30 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official WebsiteXTelegramHow to Sign Up on MEXC

    Contact:
    Lucia Hu
    PR Manager
    lucia.hu@mexc.com

    Disclaimer: This content is provided by MEXC. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at:

    https://www.globenewswire.com/NewsRoom/AttachmentNg/41b61707-d16e-4558-81e7-3fcb6f1ee432

    https://www.globenewswire.com/NewsRoom/AttachmentNg/d1ad05ee-72ca-4d42-8c5e-e5c0b906ca4e

    https://www.globenewswire.com/NewsRoom/AttachmentNg/2a8cc556-be4d-4be2-afba-59f2c832ce2d

    https://www.globenewswire.com/NewsRoom/AttachmentNg/be981b72-e7d5-473a-969d-3cfde42d4159

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e07c632a-ff90-4ff9-9437-174c4e8e53f6

    The MIL Network

  • MIL-OSI Global: Deepseek: China’s gamechanging AI system has big implications for UK tech development

    Source: The Conversation – UK – By Feng Li, Chair of Information Management, Associate Dean for Research & Innovation, Bayes Business School, City St George’s, University of London

    Koshiro K

    DeepSeek sent ripples through the global tech landscape this week as it soared above ChatGPT in Apple’s app store. The meteoric rise has shifted the dynamics of US-China tech competition, shocked global tech stock valuations, and reshaped the future direction of artificial intelligence (AI) development.

    Among the industry buzz created by DeepSeek’s rise to prominence, one question looms large: what does this mean for the strategy of the third leading global nation for AI development – the United Kingdom?

    The generative AI era was kickstarted by the release of ChatGPT on November 30 2022, when large language models (LLMs) entered mainstream consciousness and began reshaping industries and workflows, while everyday users explored new ways to write, brainstorm, search and code. We are now witnessing the “DeepSeek moment” – a pivotal shift that demonstrates the viability of a more efficient and cost-effective approach for AI development.

    DeepSeek isn’t just another AI tool. Unlike ChatGPT and other major LLMs developed by tech giants and AI startups in the USA and Europe, DeepSeek represents a significant evolution in the way AI models are developed and trained.

    Most existing approaches rely on large-scale computing power and datasets (used to “train” or improve the AI systems), limiting development to very few extremely wealthy market players. DeepSeek not only demonstrates a significantly cheaper and more efficient way of training AI models, its open-source “MIT” licence (after the Massachusetts Institute of Technology where it was developed) allows users to deploy and develop the tool.

    This helps democratise AI, taking up the mantle from US company OpenAI – whose initial mission was “to build artificial general intelligence (AGI) that is safe and benefits all of humanity” – enabling smaller players to enter the space and innovate.

    By making cutting-edge AI development accessible and affordable to all, DeepSeek has reshaped the competitive landscape, allowing innovation to flourish beyond the confines of large, resource-rich organisations and countries.

    It has also set a new benchmark for efficiency in its approach, by training its model at a fraction of the cost, and matching – even surpassing – the performance of most existing LLMs. By employing innovative algorithms and architectures, it is delivering superior results with significantly lower computational demands and environmental impact.

    Why DeepSeek matters

    DeepSeek was conceived by a group of quantitative trading experts in China. This
    unconventional origin holds lessons for the UK and US.

    While the UK – particularly London – has long attracted scientific and technological excellence, many of the highest achieving young graduates have tended to disproportionately opt for careers in finance, something that has come the expense of innovation in other critical sectors such as AI. Diversifying the pathways for Stem (science, technology, engineering and maths) professionals could yield transformative outcomes.

    The UK government’s recent and much-publicised 50-point action plan on AI offers glimpses of progressive intent, but also displayed a lack of boldness to drive real change. Incremental steps are not sufficient in such a fast-moving environment. The UK needs a new plan – one that leverages its unique strengths while addressing systemic weaknesses.

    Firstly, it’s important to recognise that the UK’s comparative advantage lies in its leading interdisciplinary expertise. World-class universities, thriving fintech and dynamic professional services and creative sectors offer fertile ground for AI applications that extend beyond traditional tech silos. The intersection of AI with finance, law, creative industries and medicine presents opportunities to lead in some niche but high-impact areas.

    The UK’s funding and regulatory frameworks are due an overhaul. DeepSeek’s development underscores the importance of agile, well-funded ecosystems that can support big, ambitious “moonshot” projects. Current UK funding mechanisms are bureaucratic and fragmented, favouring incremental innovations over radical breakthroughs, at times stifling innovation rather than nurturing it. Simplifying grant applications and offering targeted tax incentives for AI startups would represent a healthy start.

    Finally, it will be critical for the UK to keep its talent in the country. The UK’s AI sector faces a brain drain as top talent gravitates toward better-funded opportunities in the US and China. Initiatives such as public-private partnerships for AI research development can help anchor talent at home.

    DeepSeek’s rise is an excellent example of strategic foresight and execution. It doesn’t merely aim to improve existing models, but redefines the very boundaries of how AI could be developed and deployed – while demonstrating efficient, cost-effective approaches that can yield astounding results. The UK should adopt a similarly ambitious mindset, focusing on areas where it can set global standards rather than playing catch-up.

    AI’s geopolitics cannot be ignored either. As the US and China compete with one another, the UK has a critical role to play as the trusted intermediary and ethical leader in AI governance. By championing transparent AI standards and fostering international collaboration, the UK can punch above its weight on the global stage.

    DeepSeek’s success should serve as a wake-up call. Britain has the talent, institutions and entrepreneurial spirit to be a significant leading player in AI – but it must act decisively, and now.

    It is time to remove token gestures and embrace bold strategies that move the needle and position the UK as a leader in an AI-driven future. This moment calls for action, not just more conversation.

    DeepSeek has raised the bar. It is now up to the UK to meet it.

    Feng Li does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Deepseek: China’s gamechanging AI system has big implications for UK tech development – https://theconversation.com/deepseek-chinas-gamechanging-ai-system-has-big-implications-for-uk-tech-development-248387

    MIL OSI – Global Reports

  • MIL-OSI: MEXC Launches Venice Token (VVV) in Innovation Zone and Futures Trading with Leverage Up to 50x

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Jan. 28, 2025 (GLOBE NEWSWIRE) — MEXC, the world’s leading cryptocurrency trading platform, announces the listing of Venice Token (VVV) in its Innovation Zone, offering users access to the latest advancements in the AI sector. Starting from 02:00 UTC on January 28, MEXC will also introduce VVV/USDT Perpetual Futures trading, providing users with leverage options of up to 50x.

    Unlocking the Future with Venice Token (VVV)
    Venice Token (VVV) is at the forefront of the artificial intelligence revolution, serving as the world’s leading platform for private and uncensored AI solutions. Through the Venice App or API, users can access a range of cutting-edge open-source models for generative text, images, and code, empowering creators and developers across various sectors. With a total supply of 100,000,506 VVV, the token is poised to play a significant role in shaping the future of digital intelligence and privacy.

    Join the Future of AI with Venice Token
    As MEXC launches VVV USDT-M Perpetual Futures, traders will have the opportunity to leverage their positions with adjustable leverage, making it easier than ever to capitalize on market movements. This listing not only highlights MEXC’s dedication to supporting innovative projects but also presents a unique opportunity for users to engage with a token that is revolutionizing the AI landscape.

    MEXC aims to become the go-to platform offering the widest range of valuable crypto assets. The platform has grown its user base to 30 million by providing a diverse selection of tokens, high-frequency airdrops, and simple participation processes. In 2024, MEXC launched a total of 2,376 new tokens, including 1,716 initial listings and over 600 memecoins, with total airdrop rewards exceeding $136 million.

    About MEXC
    Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 30 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
    MEXC Official WebsiteXTelegramHow to Sign Up on MEXC

    Contact:
    Lucia Hu
    PR Manager
    lucia.hu@mexc.com

    Disclaimer: This content is provided by MEXC. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/886317ab-f8fa-4164-8cd6-c99cd40384a4

    The MIL Network

  • MIL-OSI USA: DCCA NEWS RELEASE: SAFETY AROUND ELECTRIC UTILITY POLES AND POWER LINES

    Source: US State of Hawaii

    DCCA NEWS RELEASE: SAFETY AROUND ELECTRIC UTILITY POLES AND POWER LINES

    Posted on Jan 27, 2025 in Latest Department News, Newsroom

     

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

     

    DEPARTMENT OF COMMERCE AND CONSUMER AFFAIRS

    KA ʻOIHANA PILI KĀLEPA

    DIVISION OF CONSUMER ADVOCACY

     

    JOSH GREEN, M.D.

    GOVERNOR

    KE KIAʻĀINA

     

    NADINE Y. ANDO

    DIRECTOR

    KA LUNA HOʻOKELE

    MICHAEL ANGELO

    EXECUTIVE DIRECTOR

    SAFETY AROUND ELECTRIC UTILITY POLES AND POWER LINES

    Public Urged to Report Safety Hazards Around Electric Utility Poles and Power Lines

     

    FOR IMMEDIATE RELEASE

    January 27, 2025

    HONOLULU — The state of Hawai‘i Department of Commerce and Consumer Affairs, Division of Consumer Advocacy (DCA), urges residents take appropriate action in case of emergencies involving downed power lines or sparking near electric utility poles. Residents are also encouraged to report non-emergency concerns, such as vegetation overgrowth near power lines, which can pose safety hazards.

    Residents should call 911 immediately if they observe downed power lines or sparking near a utility pole. The electric utility will then be notified by 911 dispatchers and a troubleshooter will be dispatched.

    For non-emergency concerns, such as vegetation overgrowth on power lines or damage, residents should contact their local electric utility directly.

    Emergency Concerns:

    • Downed Power Lines or Sparking Near a Utility Pole: If you witness downed power lines or sparking, call 911 immediately. Never touch a downed power line or attempt to move it, and always assume it is energized. Once 911 is called, dispatchers will notify the electric utility, and a troubleshooter will be sent. For after-hours emergencies, always contact 911 first, then report it to your electric utility’s trouble line.

    Emergency Contact Information:

    • Hawaiian Electric
      • O‘ahu: 1-855-304-1212
      • Maui: 808-871-7777
      • Moloka‘i, Lānaʻi: 1-877-871-8461
      • Hawai‘i Island: 808-969-6666
    • KIUC
      • Kaua‘i: 808-246-4300

    Non-Emergency Safety Concerns:

    • Vegetation Concerns or Equipment Issues Near/On Electric Utility Poles or Power Lines: If you see overgrown vegetation near power lines or have safety concerns related to electric utility equipment on utility poles (power lines, transformers, etc.), please report them to the relevant electric utility company. This document can assist with identifying electric utility equipment.
    • Contacting Electric Utility Providers: Once the electric utility company has been notified, a troubleshooter will assess the risk and, if necessary, remove the potential hazard. Response times vary based on the amount of volume being managed at that time.

    Non-Emergency Contact Information:

    • Hawaiian Electric
      • For vegetation concerns or questions regarding tree trimming and inspection, please contact:
    • KIUC
      • Members are encouraged to take photos and email a report to [email protected] with as much information on the location of the problem as possible. You can also send a message through Facebook Messenger with photos and location information. Reports can be made by phone to 808-246-4300, but specific information on the location and a description of the problem will be necessary.

    Safety Reminders:

    • Never touch a downed power line or attempt to move it.
    • Always assume a downed line is energized.
    • Never plant vegetation below or close to power lines.
    • Keep vegetation trimmed away from your home to prevent contact with power lines.
    • If you see sparking or smoke near a utility pole, call 911 and report it immediately to your local electric utility company.

     

    The Division of Consumer Advocacy is a state agency that plays a vital role in safeguarding the interests of consumers of regulated public utility services. Representing a broad spectrum of customers across various utility and transportation sectors, DCA advocates before the Hawai‘i Public Utilities Commission. DCA comprises a diverse team of professionals committed to ensuring the safe, reliable, and equitable delivery of utility services at affordable rates, while aligning with the state’s policy objectives.

    ###

    Media Contact:

    Communications Office

    Department of Commerce and Consumer Affairs

    Phone: 808-586-2760

    Email: [email protected]

    MIL OSI USA News

  • MIL-OSI USA: DOD Media Release: HAWAI‘I AIR NATIONAL GUARD TO CONDUCT EXERCISE SENTRY ALOHA

    Source: US State of Hawaii

    DOD Media Release: HAWAI‘I AIR NATIONAL GUARD TO CONDUCT EXERCISE SENTRY ALOHA

    Posted on Jan 27, 2025 in Latest Department News, Newsroom

    STATE OF HAWAI‘I

    KA MOKU ʻĀINA O HAWAIʻI

     

    HAWAI‘I DEPARTMENT OF DEFENSE

    KA ʻOIHANA PILI KAUA

    OFFICE OF THE ADJUTANT GENERAL

    JOSH GREEN, M.D.

    GOVERNOR

    KE KIAʻĀINA

    MAJOR GENERAL STEPHEN F. LOGAN

    ADJUTANT GENERAL

    KA ʻAKUKANA KENELALA

    BRIGADIER GENERAL PHILLIP L. MALLORY

    DEPUTY ADJUTANT GENERAL

    KA HOPE ʻAKUKANA KENELALA

     

     

    HAWAI‘I AIR NATIONAL GUARD TO CONDUCT EXERCISE SENTRY ALOHA

     

     

    FOR IMMEDIATE RELEASE

    January 27, 2025

    #2025-001

    JOINT BASE PEARL HARBOR-HICKAM, Hawai‘i – The Hawai‘i Air National Guard (HIANG) will be hosting a Sentry Aloha fighter exercise from Wednesday, Jan. 29 through Feb. 12. O‘ahu residents, particularly along the island’s southern coast, may see an increase in military aircraft during takeoffs and landings at Daniel K. Inouye International Airport. The public may hear more jets and there is a possibility of short flight delays.

    Sentry Aloha is an ongoing series of exercises hosted by the HIANG’s 154th Wing enabling tailored, cost-effective, and realistic combat training for Air National Guard, U.S. Air Force, and other Department of Defense services. It provides U.S. warfighters with the skill sets necessary to perform homeland defense and overseas combat missions.

    Sentry Aloha exercises have been conducted by the HIANG for more than 20 years. This iteration of the exercise, Sentry Aloha 25-1, will involve approximately 800 personnel and over 28 aircraft from four states.

    Visiting units include the F-35C Lightning II’s from California, and KC-135 Stratotankers from Washington and Mississippi. The visiting aircraft will take part in simulated combat exercises with the 199th and 19th Fighter Squadrons’ Hickam-based “Hawaiian Raptors.”

    The 199th Fighter Squadron is part of the 154th Wing, the largest wing in the Air National Guard. The Hawai‘i Air National Guard comprises nearly 2,500 personnel whose federal mission is to be trained and available for active duty Air Force operational missions.

    # # #

    Media contact:

    Maj. (Ret.) Jeffrey D. Hickman

    Director, Public Affairs

    State of Hawai‘i Department of Defense

    Office: 808-441-7000

    Direct: 808-779-8008

    Email: [email protected]

    MIL OSI USA News

  • MIL-OSI USA: Office of the Governor — News Release — Governor Green to Travel to Washington, D.C.

    Source: US State of Hawaii

    Office of the Governor — News Release — Governor Green to Travel to Washington, D.C.

    Posted on Jan 27, 2025 in Latest Department News, Newsroom, Office of the Governor Press Releases

    STATE OF HAWAIʻI 
    KA MOKU ʻĀINA O HAWAIʻI 

     
    JOSH GREEN, M.D. 
    GOVERNOR
    KE KIAʻĀINA 

     

    GOVERNOR GREEN TO TRAVEL TO WASHINGTON, D.C.
     

    FOR IMMEDIATE RELEASE
    January 27, 2025

    HONOLULU — Governor Josh Green, M.D., will travel to Washington, D.C., this week at the request of U.S. Senators and national health organizations to provide input regarding the nomination of Robert F. Kennedy Jr. for Secretary of Health and Human Services (HHS).

    Governor Green has expressed concerns about the potential impact of Kennedy’s confirmation on Hawai‘i and the nation, emphasizing the importance of a science-driven approach to public health.

    “Our people deserve a Health and Human Services Secretary who champions science, supports vaccines, and is committed to lowering costs while safeguarding health care access,” said Governor Green. “Mr. Kennedy’s lack of experience raises serious concerns about the future of critical programs like Medicare and Medicaid, which are lifelines for the people of Hawai‘i.”

    Drawing on his extensive background as an emergency room physician, longtime Legislator, Lieutenant Governor and Governor, Dr. Green will highlight the potential risks of this nomination, which has drawn criticism from leading public health experts. In 2019 as Hawai‘i’s Lieutenant Governor, Dr. Green played a pivotal role in addressing a severe measles epidemic in Samoa. His hands-on efforts, including vaccinating tens of thousands of individuals, demonstrated the lifesaving importance of science-based public health initiatives.

    The Governor will depart Hawai‘i on Monday evening, January 27, 2025, and return on Thursday afternoon, January 30, 2025. During his absence, Lieutenant Governor Sylvia Luke will serve as Acting Governor.

    # # # 

    Media Contacts:   
    Erika Engle
    Press Secretary
    Office of the Governor, State of Hawai‘i
    Phone: 808-586-0120
    Email: [email protected]

    Makana McClellan
    Director of Communications
    Office of the Governor, State of Hawaiʻi
    Cell: 808-265-0083
    Email: [email protected]

    MIL OSI USA News

  • MIL-OSI Global: DeepSeek: how a small Chinese AI company is shaking up US tech heavyweights

    Source: The Conversation – Global Perspectives – By Tongliang Liu, Associate Professor of Machine Learning and Director of the Sydney AI Centre, University of Sydney

    Chinese artificial intelligence (AI) company DeepSeek has sent shockwaves through the tech community, with the release of extremely efficient AI models that can compete with cutting-edge products from US companies such as OpenAI and Anthropic.

    Founded in 2023, DeepSeek has achieved its results with a fraction of the cash and computing power of its competitors.

    DeepSeek’s “reasoning” R1 model, released last week, provoked excitement among researchers, shock among investors, and responses from AI heavyweights. The company followed up on January 28 with a model that can work with images as well as text.

    So what has DeepSeek done, and how did it do it?

    What DeepSeek did

    In December, DeepSeek released its V3 model. This is a very powerful “standard” large language model that performs at a similar level to OpenAI’s GPT-4o and Anthropic’s Claude 3.5.

    While these models are prone to errors and sometimes make up their own facts, they can carry out tasks such as answering questions, writing essays and generating computer code. On some tests of problem-solving and mathematical reasoning, they score better than the average human.

    V3 was trained at a reported cost of about US$5.58 million. This is dramatically cheaper than GPT-4, for example, which cost more than US$100 million to develop.

    DeepSeek also claims to have trained V3 using around 2,000 specialised computer chips, specifically H800 GPUs made by NVIDIA. This is again much fewer than other companies, which may have used up to 16,000 of the more powerful H100 chips.

    On January 20, DeepSeek released another model, called R1. This is a so-called “reasoning” model, which tries to work through complex problems step by step. These models seem to be better at many tasks that require context and have multiple interrelated parts, such as reading comprehension and strategic planning.

    The R1 model is a tweaked version of V3, modified with a technique called reinforcement learning. R1 appears to work at a similar level to OpenAI’s o1, released last year.

    DeepSeek also used the same technique to make “reasoning” versions of small open-source models that can run on home computers.

    This release has sparked a huge surge of interest in DeepSeek, driving up the popularity of its V3-powered chatbot app and triggering a massive price crash in tech stocks as investors re-evaluate the AI industry. At the time of writing, chipmaker NVIDIA has lost around US$600 billion in value.

    How DeepSeek did it

    DeepSeek’s breakthroughs have been in achieving greater efficiency: getting good results with fewer resources. In particular, DeepSeek’s developers have pioneered two techniques that may be adopted by AI researchers more broadly.

    The first has to do with a mathematical idea called “sparsity”. AI models have a lot of parameters that determine their responses to inputs (V3 has around 671 billion), but only a small fraction of these parameters is used for any given input.

    However, predicting which parameters will be needed isn’t easy. DeepSeek used a new technique to do this, and then trained only those parameters. As a result, its models needed far less training than a conventional approach.

    The other trick has to do with how V3 stores information in computer memory. DeepSeek has found a clever way to compress the relevant data, so it is easier to store and access quickly.

    What it means

    DeepSeek’s models and techniques have been released under the free MIT License, which means anyone can download and modify them.

    While this may be bad news for some AI companies – whose profits might be eroded by the existence of freely available, powerful models – it is great news for the broader AI research community.

    At present, a lot of AI research requires access to enormous amounts of computing resources. Researchers like myself who are based at universities (or anywhere except large tech companies) have had limited ability to carry out tests and experiments.

    More efficient models and techniques change the situation. Experimentation and development may now be significantly easier for us.

    For consumers, access to AI may also become cheaper. More AI models may be run on users’ own devices, such as laptops or phones, rather than running “in the cloud” for a subscription fee.

    For researchers who already have a lot of resources, more efficiency may have less of an effect. It is unclear whether DeepSeek’s approach will help to make models with better performance overall, or simply models that are more efficient.

    Tongliang Liu does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. DeepSeek: how a small Chinese AI company is shaking up US tech heavyweights – https://theconversation.com/deepseek-how-a-small-chinese-ai-company-is-shaking-up-us-tech-heavyweights-248434

    MIL OSI – Global Reports

  • MIL-OSI Asia-Pac: Prime Minister Shri Narendra Modi inaugurates the ‘Utkarsh Odisha’ – Make in Odisha Conclave 2025 in Bhubaneswar

    Source: Government of India

    Prime Minister Shri Narendra Modi inaugurates the ‘Utkarsh Odisha’ – Make in Odisha Conclave 2025 in Bhubaneswar

    The programme showcases the state’s immense potential as a thriving hub for investment and business opportunities: PM

    Eastern India is a growth engine in the development of the country, Odisha plays a key role in this: PM

    Today, India is moving on a path of development driven by the aspirations of crores of people: PM

    Odisha is truly Outstanding, Odisha symbolises the Optimism and Originality of New India, Odisha is a land of Opportunities, and the people here have always shown a passion to Outperform: PM

    India is focusing on green future and green tech: PM

    For 21st century India, this era is all about connected infrastructure and multi-modal connectivity: PM

    Odisha holds immense potential for tourism: PM

    With a vast pool of young talent and a massive audience for concerts, India has great possibilities for a thriving concert economy: PM

    Posted On: 28 JAN 2025 1:33PM by PIB Delhi

    The Prime Minister, Shri Narendra Modi inaugurated the Utkarsh Odisha – Make in Odisha Conclave 2025 and  Make in Odisha Exhibition in Bhubaneswar, Odisha today. Addressing the gathering, the Prime Minister said this was his second visit to Odisha in the month of January 2025, recalling his visit to inaugurate Pravasi Bharatiya Divas 2025 event. Noting that this was the biggest business Summit in Odisha till date, Shri Modi said that there were around 5-6 times more investors participating in Make in Odisha Conclave 2025. He also congratulated the people and the Government of Odisha for organising the grand event.

    “Eastern India is a growth engine in the development of the country and Odisha plays a key role in this”, exclaimed the Prime Minister. He added that historic data also reveals that the contributions of Eastern India were remarkable when India played a major role in global growth. Shri Modi noted that there were huge industrial hubs, ports, trade hubs in Eastern India and Odisha’s participation in this was remarkable. “Odisha used to be an important center in South Eastern Asian trade and the ports were a gateway to India”, said the Prime Minister. He added that Bali Yatra is celebrated even today in Odisha. Recalling the recent visit of the President of Indonesia to India, the Prime Minister said that the President’s words that there were probably traces of Odisha in his DNA.  

    The Prime Minister remarked that Odisha celebrates a legacy which connects it with South East Asia. He added that Odisha had now begun to revive the glorious heritage in the 21st century. He noted that the President of Singapore recently visited Odisha and Singapore was very enthusiastic about its relationship with Odisha. He highlighted that ASEAN countries have also shown interest in strengthening trade and traditional connections with Odisha. The Prime Minister emphasized that numerous opportunities were opening up in this region, more than ever before since independence. He called upon all the investors present, stating that now is the right time to invest in Odisha’s development journey and assured that their investment would lead to new heights of success.

    “India is on a path of development driven by the aspirations of crores of people”, remarked Shri Modi and emphasized that AI stands for both Artificial Intelligence and Aspiration of India, which is the country’s strength. He said that aspirations grow when people’s needs are met, and the past decade has empowered crores of citizens, benefiting the nation. The Prime Minister highlighted that Odisha represents this aspiration. He described Odisha as outstanding, symbolizing the optimism and originality of New India. He added that Odisha had numerous opportunities, and its people have always shown a passion for outperforming. Sharing his personal experience of witnessing the skills, hard work, and honesty of people from Odisha in Gujarat, the Prime Minister expressed confidence that with new opportunities emerging in Odisha, the state will soon reach unprecedented heights of development. He praised Chief Minister Shri Mohan Charan Manjhi and his team for their efforts in accelerating Odisha’s development. The Prime Minister noted that Odisha is becoming one of India’s leading states in various industries, including food processing, petrochemicals, port-led development, fisheries, IT, edutech, textiles, tourism, mining, and green energy.

    Underscoring that India was rapidly progressing towards becoming the world’s third-largest economy, the Prime Minister said that the milestone of a five trillion-dollar economy was not far away. He added that over the past decade, India’s strength in manufacturing had also become evident. The Prime Minister highlighted that the expansion of India’s economy rests on two major pillars: the innovative service sector and quality products. He emphasized that the country’s rapid progress cannot rely solely on the export of raw materials and therefore, the entire ecosystem was being transformed with a new vision. The Prime Minister mentioned that India was changing the trend of extracting minerals and sending them abroad for product manufacturing and value addition, only to have those products return to India. Similarly, he added that the trend of exporting seafood for processing in other countries was also being changed. Shri Modi stated that the Government was working to ensure that industries related to the resources in Odisha are established within the state. He highlighted that Utkarsh Odisha Conclave 2025 was a means to realize this vision.

    Remarking that the world was increasingly focusing on sustainable lifestyles and moving towards a green future, Shri Modi noted that the potential for green jobs is also growing significantly. He emphasized the need to adapt to the demands and requirements of the times. He highlighted that India was focusing on green technology and a green future, including solar, wind, hydro, and green hydrogen, which will power the energy security of a developed India. The Prime Minister mentioned that Odisha had immense potential in this regard and stated that the country had launched national-level Green Hydrogen and Solar Power Missions. Shri Modi noted that significant policy decisions were being made to promote renewable energy industries in Odisha, and several steps were being taken for hydrogen energy production.

    Prime Minister remarked that alongside green energy, initiatives were being taken to expand the petro and petrochemical sector in Odisha. He highlighted that dedicated industrial parks and investment regions were being developed in Paradip and Gopalpur, indicating significant investment potential in this sector. Shri Modi congratulated the Odisha government for making swift decisions and developing a new ecosystem, considering the potential of different regions in the state.

    “21st century is an era of connected infrastructure and multi-modal connectivity for India”, said Shri Modi and highlighted that the scale and speed at which specialized infrastructure was being developed in India was making the country an excellent investment destination. He noted that dedicated freight corridors were connecting the east and west coastlines, providing faster access to the sea for previously land-locked regions. He mentioned that dozens of industrial cities with plug-and-play facilities were being constructed across the country. Shri Modi emphasized that similar opportunities were being enhanced in Odisha and thousands of crores worth of projects related to railway and highway networks are underway in the state. He added that to reduce logistics costs for industries in Odisha, the Government was connecting ports with industrial clusters and mentioned that both the expansion of existing ports and the construction of new ports are taking place. He stressed that Odisha was set to become one of the top states in the country in terms of the blue economy.

    Urging everyone to recognize the challenges of the global supply chain in a rapidly changing world, the Prime Minister emphasized that India cannot rely on fragmented and import-based supply chains. Instead, a robust supply and value chain must be built within India to minimize the impact of global fluctuations, he added. He highlighted that this responsibility lies with both the government and the industry. Shri Modi called on industries to support MSMEs and young startups, stressing the importance of research and innovation for growth. He added that theGovernment was creating a vibrant research ecosystem in the country, with a special fund and a package for internships and skill development. He encouraged industries to actively participate and collaborate with the Government. Emphasising that a strong research ecosystem and a skilled young workforce will directly benefit the industry, Shri Modi urged industry partners and the Odisha government to work together to build a modern ecosystem aligned with Odisha’s aspirations, providing new opportunities for the youth. This, he said, will create more job opportunities within Odisha, leading to prosperity, strength, and progress for the state.

    The Prime Minister remarked that people around the world were eager to understand and learn about India. He highlighted that Odisha was an excellent destination to understand India, with its thousands of years of heritage and history. He added that the state offers a unique blend of faith, spirituality, forests, mountains, and the sea, all in one place. Shri Modi described Odisha as a model of development and heritage and mentioned that G-20 cultural events were held in Odisha, and the Konark Sun Temple’s wheel was made a part of the main event. He emphasized the need to explore Odisha’s tourism potential, with its 500-kilometer coastline, over 33% forest cover, and endless possibilities for eco-tourism and adventure tourism. Prime Minister noted that India’s focus was on “Wed in India” and “Heal in India,” and Odisha’s natural beauty and environment were very supportive of these initiatives.

    Highlighting that India had significant potential for conference tourism, the Prime Minister said that venues like Bharat Mandapam and Yashobhoomi in Delhi were becoming major centers for this sector. He also mentioned the emerging sector of the concert economy. He noted that India, with its rich heritage of music, dance, and storytelling, and a large pool of young concert-goers, has immense possibilities for the concert economy. He added that over the past decade, the trend and demand for live events have increased. Pointing out the recent Coldplay concerts in Mumbai and Ahmedabad as evidence of the scope for live concerts in India, Shri Modi emphasized that major global artists were attracted to India, and the concert economy boosts tourism and creates numerous jobs. He urged states and the private sector to focus on the necessary infrastructure and skills for the concert economy. This includes event management, artist grooming, security, and other arrangements, where new opportunities are emerging.

    Shri Modi remarked that next month, India will host the World Audio Visual and Entertainment Summit (WAVES) for the first time. He highlighted that this significant event will showcase India’s creative power to the world. He emphasized that such events generate revenue and shape perceptions, contributing to the economy’s growth. He noted that Odisha has immense potential for hosting such events.

    “Odisha plays a significant role in building a developed India”, emphasized the Prime Minister. He highlighted that the people of Odisha have resolved to build a prosperous state, and the Union government was providing all possible support to achieve this goal. He expressed his affection for Odisha, noting that he had visited the state nearly 30 times as Prime Minister and has been to most of its districts. He emphasized his trust in Odisha’s potential and its people. Concluding his address, the Prime Minister expressed confidence that the investments made by all partners will elevate both their businesses and Odisha’s progress to new heights. He extended his best wishes to everyone involved. 

    The Governor of Odisha, Dr. Hari Babu Kambhampati, Chief Minister of Odisha, Shri Mohan Charan Manjhi, Union Ministers Shri Dharmendra Pradhan, Shri Ashwini Vaishnaw were present among other dignitaries at the event.

    Background

    Utkarsh Odisha – Make in Odisha Conclave 2025 is a flagship Global Investment Summit, being hosted by the Government of Odisha, which aims to position the state as the anchor of the Purvodaya vision as well as a leading investment destination and industrial hub in India.

    Prime Minister also inaugurated the Make in Odisha Exhibition that highlights achievements of the state in developing a vibrant industrial ecosystem. The two day conclave will be held from 28th to 29th January. It will serve as a platform for industry leaders, investors, and policymakers to converge and discuss the opportunities Odisha offers as a preferred investment destination. The conclave will host CEOs and Leaders’ Roundtables, Sectoral Sessions, B2B meetings, and Policy Discussions, ensuring targeted engagement with investors across the globe.

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  • MIL-OSI Asia-Pac: To reimagine, reinvent, and reposition ISI as a globally recognized institution: Indian Statistical Institute poised to embrace the transformative vision as it approaches its centenary in 2031

    Source: Government of India (2)

    Posted On: 28 JAN 2025 1:19PM by PIB Delhi

    The Indian Statistical Institute, established in 1931 by the visionary statistician Prof. Prasanta Chandra Mahalanobis, has played a pivotal role in statistical research, education, training and its application. Having been declared as an institution of national importance through the Indian Statistical Institute Act of 1959, the Institute has been a leader in advancing statistical methods and their application across various disciplines. The ISI Council is the governing body of the Institute. In terms of the provision of the ISI Act and ISI Regulations, a newly constituted Council has been set up for the term 2024-26. During the 1stMeeting of the Council held on 26 October 2024, the members of the Council elected Dr. Koppillil Radhakrishnan, as the Chairman of the ISI, Council. Dr. Radhakrishnan is a Padma Bhushan awardee and an Indian Space Scientist, who headed the Indian Space Research Organisation (ISRO) as Chairman of the Space Commission and Secretary of the Department of Space, Government of India.

    As per the provisions of the ISI Act, 1959, the Central Government (MoSPI) constitutes Committees at regularintervals for reviewing the performance of the ISI and for making recommendations about its future course. Under this provision, the 4thReview Committee of the Indian Statistical Institutewas constituted in 2020. The Committee submitted its comprehensive report to the Government of India, charting a transformative roadmap for this esteemed Institution of National Importance. Headed by the distinguished scientist and former Director-General of the Council of Scientific and Industrial Research (CSIR), Dr. R.A. Mashelkar, the Committee, through interactions with multiple stakeholders, conducted an extensive review of ISI’s functioning, achievements and challenges, and arrived at the report culminating in a series of actionable recommendations aimed at rejuvenating the Institute’s role in advancing statistical sciences and its applications in India and globally.

    Based on the theme ‘Reimagine, Reinvent and Reposition’, the Committee proposed 61 recommendations addressing governance, academic programs, research priorities, infrastructure, and financial sustainability of the Institute. The Committeehad extensive Stakeholder Consultations in the online mode due to the raging pandemic, engagingvirtually with faculty, students, alumni, and administrative staff to gather insights into ISI’s functioning, challenges, and aspirations.They also consulted industry experts, government representatives, and other academic institutions to understand and assess the external expectations from ISI. The Committee held virtual meetings to deliberate on findings and draft recommendations and undertook an evidence-basedevaluation of ISI’s performance over the past decade, including its research output, academic programs, infrastructure, and outreach efforts andbenchmarked ISI against leading global institutions to identify gaps and opportunities.

    The Committee proposed a comprehensive set of recommendations to reimagine, reinvent, and reposition ISI as a globally recognized institution. It emphasized the need for governance reforms and strengthening accountability through performance-based evaluations and establishing clear work norms for faculty and staff. The committee recommended expanding academic programs to include cutting-edge fields like data science and machine learning, increasing student intake and faculty numbers to scale the institute’s impact, and promoting interdisciplinary and large-scale research projects with national and international relevance. It called for modernizing administrative processes and research methodologies using advanced digital tools and building world-class computing and laboratory infrastructure to support innovative research.

    The recommendations also included establishing robust partnerships with industry and government to address real-world challenges and generate revenue, establishing more enabling structures like the technology innovation hub, enhancing visibility through targeted outreach and brand-building initiatives, and encouraging resource generation through research grants, industry collaborations, and alumni contributions. The committee stressed the importance of increasing autonomy in managing internal revenue and recruitment processes. Infrastructure development was also a priority, with a focus on upgrading physical facilities, including campuses, laboratories, and student housing, and establishing new centers focused on emerging disciplines and regional outreach.

    The Committee’s recommendations are aimed at reimagining, reinventing, and repositioning ISI as a globally recognized institution and included recommendations in the area of Governance Reforms, Academic and Research Enhancements, Digital Transformation, Industry and Government Engagement, Financial Sustainability and Infrastructure Development.

    ISI has commenced implementation of these recommendations, demonstrating their commitment towards strengthening the Institute’s excellence in addressing the nation’s socio-economic development needs. During the2ndMeeting of the Council held on 23 January 2025, the Council of the Institute under the Chairmanship of Dr. Koppillil Radhakrishnan reviewed the status of implementation of the recommendations of the 4thReview Committee.The Institute’sCouncil is committed to implement the Committee’s recommendations in a phased manner with focus on:

    1. Short-Term Initiatives: Immediate steps to address critical issues, such as faculty recruitment, infrastructure upgradation, and governance reforms.
    2. Medium-Term Goals: Enhancing academic and research programs, scaling outreach efforts, and improving financial sustainability.
    3. Long-Term Vision: Transforming ISI into a global leader by its centenary year in 2031, with a focus on impactful research, innovative education, and strong industry connections.

    ISI has commenced work on improving its structure, strengthening research and ensuring robust academic and administrative frameworks. Significant restructuring has been undertaken to align the Institute’s various Divisions with contemporary requirements. The Centre for AI and ML (CAIML) has aligned its initiatives with the National AI Policy, emphasizing strategic relevance. Efforts are also underway to operationalize the Interdisciplinary Centre for Applied Statistics and Biostatistics. The Research Centre for Economics and Data Analysis has been invigorated with dedicated leadership assignments, ensuring forward momentum. Faculty recruitment and promotions have been prioritized, with streamlined processes nearing finalization. Formalization of teaching benchmarks highlight ISI’s to academic excellence.

    While certain actions remain under discussion, the groundwork has been laid for transformative changes. ISI has also adopted advanced digital teaching methods, introducing online and hybrid courses as part of a broader academic enhancement strategy. These initiatives are complemented by expedited decision-making processes within the Academic Council, fostering agility in program development and revision. Infrastructure and governance improvements remain a focal point, with e-governance initiatives progressing in alignment with MoSPI. Revenue generation efforts, including consultancy rules and facility usage charges, have been implemented to strengthen financial sustainability.

    While many recommendations have been fully implemented, others are actively in progress. These actions, signal a forward-looking approach and underline the Government’s dedication to strengthen ISI as a global leader in statistical science and related disciplines.The Government recognizes ISI’s rich legacy of excellence and its critical role in supporting India’s economic and social development and is committed to providing the necessary support to realize the 4th Review Committee’s vision and roadmap.

    The Government of India’s support for implementing these recommendations reflects its commitment to empower the ISI as a cornerstone of the nation’s knowledge ecosystem. As the Institute approaches its centenary in 2031, the Institute is poised to embrace this transformative vision and emerge as a beacon of excellence on the global stage.

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  • MIL-OSI Asia-Pac: English rendering of PM’s speech at NCC Rally at the Cariappa Parade Ground in Delhi

    Source: Government of India

    Posted On: 27 JAN 2025 8:08PM by PIB Delhi

    My colleagues in the Union Cabinet, Shri Rajnath Singh Ji, Sanjay Seth Ji, CDS- General Anil Chauhan Ji, Chiefs of the three Armed Forces, Defence Secretary Shri, DG NCC, other guests and my dear friends from NCC!  Best wishes to all of you on the occasion of NCC Day. Today, around 150 cadets from 18 friendly countries are also present here among us. I welcome all these cadets. I also congratulate the colleagues of Mera Yuva Bharat, MY Bharat, associated with the country.  

    Friends,

    Being selected for the Republic Day parade is an achievement in itself. This year’s parade was also special because our republic has completed 75 years. Friends, these memories will stay with you for life. In the future, you will definitely remember that when the Republic completed 75 years, we took part in the parade. My heartiest congratulations to those friends who have received the Best Cadet Award. I recently got the opportunity to flag off many NCC missions here. Such efforts of NCC connect India’s heritage with youth aspirations. I wish all the best to the cadets involved in these missions.

    Friends,

    NCC was established during the period when the country got independence. In a way, the journey of your organization started even before the Constitution of the country. In the 75 years of the Republic, the Constitution of India always gave democratic inspiration to the country and explained the importance of civic duties. Similarly, NCC also always inspired the youth of India to build the nation and explained the importance of discipline to them. I am satisfied that in the past years, the government has done a lot of work to increase both the scope and responsibility of NCC. NCC has been expanded in our border areas, the districts adjoining the sea border. 

    Today, NCC has reached more than 170 border talukas and nearly 100 coastal talukas of the country. I would also like to congratulate the three armies. You took the responsibility of specially training the young NCC cadets of these districts. Today thousands of youth living on the border have benefited from this. We are also seeing the result of reform in NCC in the number of cadets. In 2014, the number of NCC cadets was approximately 14 lakh. Today this number has reached 20 lakh. It is a matter of pride that there are more than 8 lakh girl cadets, our daughters. Today our NCC cadets are playing an important role in disaster management. NCC cadets are also flying their flag in the world of sports. I am proud that NCC is the world’s largest uniformed youth organisation.

    Friends,

    You are going to determine the development of India and the world in the 21st century. The youth of India are not only a force for India, but also a force for global good. Today the world is accepting this. Recently a report has been published in the newspapers. What has been told in it is very important. In the last decade, the youth of India have created 1.5 lakh start-ups and more than 100 unicorns. Today more than 200 big companies of the world are led by people of Indian origin. These companies are contributing millions of crores of rupees to the global GDP, helping to change the lives of crores of people. Indian scientists, Indian researchers, teachers of India are also accelerating the progress of the world. That is, be it any sector, it is difficult to imagine the future of the world without the youth power of India, without the talent of India. And that is why I call all of you a force for global good.

    Friends,

    Be it a person or a country, its strength increases when it overcomes unnecessary obstacles. I am satisfied that in the last 10 years, we have worked to remove all the obstacles that the youth of India faced, whatever they were. This has increased the strength of the youth of India, the strength of the country. In 2014, you would have been 10 or 12 or 14 years old, just ask your family what the situation was earlier, for example, attestation of documents. Earlier, whether it was admission, examination, recruitment, filling any form, one had to get the documents attested by a gazetted officer, and there used to be a lot of running around in this. Our government removed this difficulty of the youth, and trusted you, now you can verify your documents by self-attesting. Earlier, the youth used to face a lot of difficulties in applying for scholarships, getting scholarships. There used to be a lot of manipulation in the scholarship money, the money did not go to the children’s accounts. Now the single window system has eliminated all the old problems. Earlier there was another big problem regarding the selection of subjects. If you took a subject while studying after the board, then it was difficult to change it. Now the new National Education Policy gives you the flexibility to change subjects as per your wish.

    Friends,

    There was a time 10 years ago when young people could not get bank loans easily. Banks used to say that if you want a loan, first give some guarantee. In 2014, when the people of the country gave me the opportunity to serve as the Prime Minister, I said, I will take the guarantee for the youth of my country. We started the Mudra Yojana which gives loans without bank guarantee. Earlier, loans up to Rs 10 lakh were available without guarantee. Now in the third term of the government, we have increased it to 20 lakhs. In 10 years, we have given more than 40 lakh crore rupees under Mudra loan. Lakhs of youth like you have started their business by taking help from this loan.

    Friends,

    Another important issue related to the future of the youth is the electoral system of the country. Just two days ago, we celebrated National Voters’ Day. Many of you have become first-time voters. The purpose of Voters’ Day is that the maximum number of voters should participate and use their right. Today, the world’s biggest elections are held in India, but another aspect of this is that elections keep happening in India every few months. After independence, it used to happen for a long time when Lok Sabha and Assembly elections used to be held simultaneously. But then this pattern broke, the country has suffered a lot due to this. In every election, the voting list is updated, a lot of work is done, and you must have seen that our teachers are often put on duty in this, due to which studies are affected, preparations for exams are affected. Due to frequent elections, there are also difficulties in governance. Therefore, a very important debate is going on in the country these days. Everyone is giving their views on this subject and this deliberation is very necessary in democracy, everyone should express their views, this is necessary, and what is debate – One Nation One Election. Lok Sabha and Assembly elections should be held together, and every 5 years when the time is fixed, it should be held. So, there will be relief from the new works that get stopped in between. 

    Today, I especially request the youth of India, I request the NCC cadets, I request the volunteers of MY Bharat, I request the NSS comrades, wherever we are, we should conduct this debate, take the debate forward, lead the debate, we should participate in this debate in large numbers. This is a subject directly related to your future. Even in a country like America, the date of formation of a new government is fixed, there elections are held every four years. In your own college or school also, the student council elections are completed in one go. Just think, if elections keep happening every month, will it be possible to study in a university or college? Therefore, you should lead the debate on One Nation-One Election; there should be a nationwide discussion so that the country can decide to move in the right direction.

    Friends,

    Today, the world of the 21st century is changing very fast. Today, the demand of time is that we also have to move forward at a very fast pace. All of you, the youth of the country, have a big role in this. In every sector, in every field, whether it is the field of art, research, innovation, you have to create new energy with your innovative ideas, creativity. Another such important field is politics. The youth of our country should come in the field of politics as much as possible, come with new suggestions, come with new energy, come with innovative ideas. This is the need of the country today. That is why I have said from the Red Fort that one lakh youth should come into politics. What is the power of youth, we have also seen this during the Vikas Bharat: Young India Dialogue. Lakhs of youth from across the country have given their invaluable suggestions, expressed their views for the creation of a developed India.

    Friends,

    During the freedom struggle, people of every profession in the country had set their only goal – the freedom of the country, and the youth participated in it with great enthusiasm, made sacrifices, and spent their youth in jails. Similarly, in this Amrit Kaal, we have to keep only one goal – developed India. The criterion of every decision of ours, the criterion of every work, should be a Developed India. And for this, we have to always remember our Panch Pranas. Pancha Prana means – we have to make a developed India, we have to get freedom from every thought of slavery, we have to be proud of our heritage, we have to work for the unity of India, and we have to perform our duties honestly. These Panch Pranas are the ones who give direction to every Indian, they are the inspiration of every Indian. The wonderful cultural performances that you have given now also reflect this. The feeling of one India – the best India is a great strength of the country. The Maha Kumbh that is going on in Prayag these days, there too this reflection of the unity of the country is visible. Therefore, this Maha Kumbh is a Maha Kumbh of unity. This unity is necessary for the progress of the country.

    Friends,

    You also have to always keep your duties in mind. A grand and divine developed India will be built on the foundation of duties.

    Friends,

    Today when I have come amongst you, I am seeing your zeal and enthusiasm, I had written some lines at one time, those lines are coming to my mind today, I had written at one time-

    असंख्य भुजाओं की शक्ति है, हर तरफ देश की भक्ति है

    तुम उठो तिरंगा लहरा दो, भारत के भाग्य को फहरा दो

    कुछ ऐसा नहीं जो कर ना सको, कुछ ऐसा नहीं जो पा ना सको

    तुम उठ जाओ, तुम जुट जाओ

    सामर्थ्य को अपने पहचानो, कर्तव्य को अपने सब जानो !

    Friends,

    Once again, I wish you all the best for your bright future and many thanks to you all. Say it with me-

    Bhaarat maata kee jai.

    Bhaarat maata kee jai.

    Bhaarat maata kee jai.

    Vande Mataram. Vande Mataram.

    Vande Mataram. Vande Mataram.

    Vande Mataram. Vande Mataram.

    Vande Mataram

    DISCLAIMER: This is the approximate translation of PM’s speech. Original speech was delivered

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  • MIL-OSI Asia-Pac: PRESS RELEASE – Ministry of Customs & Revenue commemorates and celebrates International Customs Day

    Source: Government of Western Samoa

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    The Ministry of Customs & Revenue commenced its week long commemoration of the International Customs Day with a thanksgiving service on Monday, 27th January 2025.

    The International Customs Day (ICD) is an annual event that was initiated by the World Customs Organization in the year 1983, to recognize the important role that Customs play in ensuring border security. This day is celebrated on the 26th day of January every year, the same date of the inauguaration of the Customs Cooperation Council, now known as the World Customs Organization, in the year 1952. A theme is assigned for every year, and this year is on “Customs delivering on its commitment to Efficiency, Security and Prosperity”. The theme highlights on the current Vision and Mission of the Ministry.

    The keynote address was delivered by the Deputy Prime Minister, who is also the Minister for Customs & Revenue, Hon. Tuala Tevaga Iosefo Ponifasio. The Deputy Prime Minister echoed the concerns of the public, members of parliament and those who have shared these concerns, on the growing problems on illicit drugs and weapons, undervaluation of Customs invoices, under-declaration of income and non compliance with requirements of the Tax Invoice Monitoring System (TIMS), among many other issues.

    Furthermore, he reminded the Ministry on the equipment and systems now available for operations that will remove doubt by the public on Customs delivering on its mandate around security. Emphasis was placed by him on the need to utilize the container x-ray scanner to its full capacity. He further re-emphasized on the relevancy of the theme to the work of the Ministry and his challenge put to the CEO, Management and staff of Customs, is to really focus their work, resources and efforts on ensuring “border security”, a critical national concern that needs to be taken seriously.

    The international day for Customs will be celebrated this week with various activities reflecting the theme for this year. The week long program started with an official opening prayer service held at the Customs office this morning. One of the featured program of the opening ceremony is the launch of the Ministry revamped website. The new website has been thoughtfully redesigned on collective efforts with a clear focus on user-friendliness, accessibility, and efficiency.

    There are two new features introduced in the new website. One is the most ground-breaking features of the revamped website is the introduction of the MCR’s AI Technology, CRISA, which stands for Customs and Revenue Information and Support Assistant. Powered by advanced artificial intelligence (AI) and machine learning technologies, CRISA is designed to transform the way you interact with the Ministry. The second feature is that of the duty estimator tool, to assist importers in knowing an estimated cost of duties and taxes on their imports before they arrive in country. Hon. Tuala Tevaga I. Ponifasio acknowledged this work by the Ministry’s IT team. He further stated that this has been one of his deliverable for the Ministry and although it has taken about three years for the Ministry to build, it is a great milestone indeed.

    Thirteen Customs officials, including the Chief Executive Officer of the Ministry, were awarded with Certificates of Merit from the WCO for their service rendered to the International Customs community. The thirteen awardees were selected based on the longevity and quality of their services to the government and people of Samoa as well as the international Customs forum for more that twenty (20) years. The awards were given by Hon. Tuala Tevaga Iosefo Ponifasio with a warm congratulatory remark to each awardee.

    The week long program features a range of activities and includes an awareness session on the Container X-ray Machine and the refresher session on the Ministry’s Identity Framework. The operability of the Container X-ray machine is expected to be at full capacity from this week onwards. A media campaign is also set for this week commencing with interview from the Chief Executive Officer on ICD celebration and its significance to the work of the Ministry, communication relative to the new website and operations of the Xray machine, staff capacity building and wellness programs throughout the week.

    The Ministry takes this opportunity to Wish all Staff of MCR, partners and stakeholders of the Ministry, fellow Customs administrations in the Pacific and around the World a “Happy International Customs Day”

    (End)

    SOURCE – Ministry of Customs and Revenue

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