Any other business: Dermot Desmond wants us to fly over obstacles rather than go under them
'Imagine a world where it's impossible to speed, impossible to crash and virtually impossible to knock someone down,' the businessman Dermot Desmond invited his audience to ponder at an AI conference in Queen's University Belfast last month. 'What responsible government would permit anything other than autonomous vehicles on the road?'
The billionaire investor made his opposition to Dublin's MetroLink clear in the 'fireside chat' he had with broadcaster Donna Traynor at the conference, but his audience in Belfast would have been more interested in his vision of the role of cars in the cities of 2050.
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Irish Times
9 hours ago
- Irish Times
Ireland could be ‘AI Island' but must act promptly to set up artificial intelligence office and observatory
Ireland could position itself as 'the AI island' but risks getting left behind unless decisions are taken promptly on important related infrastructure, the chairman of the Oireachtas committee examining the technology has said. Fianna Fáil TD Malcolm Byrne said he would be 'disappointed' if an AI office and an AI observatory are not 'up and running' next year, because if we're not showing that level of ambition now, this technology is going to bypass us'. The Government is to set up the artificial intelligence office to oversee the implementation of the European Union's AI Act, which sets rules governing the development, marketing and use of AI in the bloc. The observatory would gather data, carry out research and make recommendations to prepare the State for changes coming because of the technology. 'We know there's going to be huge disruption in employment, so we need to know what sectors is it impacting, where are jobs of the future going to be. And then what upskilling and reskilling do we need to do to make sure everybody can benefit,' said Mr Byrne. READ MORE 'It won't be a case of robots getting rid of all workers. What will happen is workers who use AI will replace those who don't and that will apply in virtually every sector of society.' The Wicklow-Wexford TD welcomed plans by Minister of State for Artificial Intelligence Niamh Smyth to host an AI summit next year during Ireland's presidency of the European Union. In response to a parliamentary question, she said AI and the role it can play 'in our societies and economies will be a central theme' of the presidency, which begins next July. Mr Byrne said Ireland 'wants to be at the forefront of the debate, but also on the policy issues around ensuring that AI is used safely, in the interests of citizens'. Crash: Brian Cowen and the unravelling of Ireland: Part one Listen | 52:35 'We've also got to start those debates around how we deal with AI within our education and training systems, but also much bigger public debates,' he added. Citing education, he said Irish students are using AI already, 'and it's important there's an ethical framework set up about where and when they should use it'. He noted that Open AI has done a deal with the Estonian government and every 16- and 17-year-old has access to an educational version of its ChatGPT AI chatbot. He said it means the material being used 'is the trusted data that is covered as part of the curriculum'. Mr Byrne cited examples of where AI is already having an impact in the State. Greyhound Household Recycling, one of the biggest recycling companies in the country, uses AI to sort and separate paper, plastic, cardboard, metal and other items with about 98 per cent accuracy. Revenue is among the most advanced of any State agency or Government department in the use of AI platforms, employing them to analyse the vast amounts of data they have on tax collection.
RTÉ News
12 hours ago
- RTÉ News
Why Metrolink is a much needed connection for North County Dublin
Analysis: Never has a transport project in Ireland been as analysed, appraised, criticised and debated as much as this By Brian Caulfield, Trinity College Dublin A rail line serving North County Dublin and the airport has been under discussion in the capital for over 30 years. Many factors are responsible for the lack of delivery of this project, including political indecision, cost and protracted debates over which option was best to deliver the required transport service. In 2011, the Metro North project received planning permission to proceed, but it was subsequently cancelled due to the economic recession. However, similar debates continued at the time about the best alternative to serve one of the country's fastest-growing populations in North County Dublin. From RTÉ Radio 1's Today with Claire Byrne, Prof Brian Caulfield and The Irish Times' Dublin editor Olivia Kelly discuss the long overdue Metrolink Around that time my team published a paper in the Journal of Transport Policy which examined several alternatives to the Metro North project. Our study looked at a DART spur line, a Luas line to the airport and a more efficient bus service operating via the Port Tunnel. Our findings showed that none of these alternatives were able to provide the capacity proposed by the Metro North project. 14 years later, a new plan to connect North County Dublin— Metrolink —is being proposed and is seeking planning permission. The project is very similar to its predecessor, and many of the arguments for its construction in terms of capacity and travel times remain largely the same. However, the narrative around the project still seems to be anchored in the belief that it is primarily an "airport train." This perception persists alongside arguments that other alternatives could be more efficient and concerns that a comprehensive Cost-Benefit Analysis has not been completed. From RTÉ News' Behind the Story podcast, will Dublin's Metro ever get built? Many of us are familiar with landing at international airports and using a direct rail line or metro system to travel onwards to our next destinations. Many believe that Metrolink in Dublin is just that; namely, a rail line that will connect the airport to the city centre. The airport is a stop on the Metrolink plan, but it is one of 16 stops. While it is projected to be the busiest stop, with approximately 18% of all passengers departing the metro there, the service is much more than just an airport link as it will provide much-needed connectivity to North County Dublin. Some say that other alternatives could provide the same transport capacity at a much lower cost. Unfortunately, the opportunity for a lower-cost option with the same capacity was lost when the original Metro North project was cancelled in 2011. Since that time, the population has grown, and so have the costs of constructing a metro. When evaluating possible alternatives, the key issues are capacity and travel time. A metro train can accommodate 500 people. Consider the following example: a metro train at 80% capacity would carry 400 people. To transport this number of people by bus, you would need 5.6 buses (assuming 80% capacity), or 200 private cars (assuming two people per car). Now, think of the amount of space these modes would occupy; the difference is significant. From RTÉ News, Transport Infrastructure Ireland says the Metrolink will 'revolutionise' public transport in the capital Metrolink can run a train every 90 seconds (40 trains per direction per hour), which would require 444 buses or 16,000 cars to provide the same level of hourly capacity. Even with dedicated tunnels, this would result in congestion. Furthermore, if the Port Tunnel were used, it would have significant impacts on freight movements due to the additional vehicles. What about a new Luas line as an alternative? The Luas Green Line has a capacity of just over 8,000 passengers per hour in each direction, but Metrolink's proposed capacity is 2.5 times greater. The Metrolink travel time of 25 minutes from Swords to the city could not be matched by any of these alternatives. Never has a transport project in Ireland been analysed, appraised and debated as much as the Dublin Metro. Every transport strategy written for the region in the past 30-plus years has indicated a metro line with the capacity currently under consideration is required. In 2021, a detailed business case, spanning thousands of pages of detailed design and appraisal, was published by the Department of Transport. The appraisal includes a cost-benefit analysis, which was reviewed by the Department for Public Expenditure and Reform and peer-reviewed by international experts. All of these steps are both prudent and responsible, considering the sum of public funding that will be spent on this project. The most recent cost-benefit analysis shows that the transport benefits of the project could amount to €15.6bn over 60 years. This does not take into account the wider economic benefits of improved air quality, reduced emissions or safety impacts. Assuming planning permission is granted and the final price for the project is known after the tendering process, the cost-benefit analysis exercise will be repeated to ensure that the final analysis still indicates the substantial benefits of proceeding with the project. From RTÉ Radio 1's Drivetime, Ryanair boss Michael O'Leary on why he says we don't need the Metrolink It's expected that 175,000 people and 250,000 jobs will be within walking distance of a metro stop. It will connect 127 schools, five hospitals and three universities. The project will connect with existing modes of public transport within the city, providing a network effect that will transform mobility in our capital. This is a project that will require political support for at least the next decade, as the timeline will span beyond the current Government and likely extend through the terms of perhaps two more. The project is at a pivotal stage and support from the government has been positive in the form of funding through the revised National Development Plan. Given that this will be the most expensive infrastructure project ever attempted in Ireland, this support will need to be steadfast and come from all political parties.
Irish Times
13 hours ago
- Irish Times
Is OpenAI really worth $500bn?
ChatGPT maker OpenAI is reportedly exploring a private share sale that could value the company at $500 billion (€430 billion). Is it worth it? The bullish argument: ChatGPT already has 700 million weekly users. OpenAI is pushing into search, cloud, software and hardware. It could become the foundational platform for the AI era, like Windows was for the PC. 'This is an AI revolution, and OpenAI is the golden child,' says high-profile Wedbush analyst and AI enthusiast Dan Ives. READ MORE If you are worried about valuations, says Ives, you'd have missed every technology rally in history. The bearish argument: you can't ignore valuation, and OpenAI's has shot up from $300 billion to $500 billion, valuing it at about 25 times sales. That's rich – very, very rich. Perhaps, but frothy valuations often signal that enthusiasm, not fundamentals, is calling the tune. Fund giant GMO notes the S&P 500 is up 27 per cent since sentiment flipped in early April, but more speculative corners have gone vertical. A basket of loss-making tech stocks is up 57 per cent; AI stocks, 60 per cent; highly-shorted stocks, 68 per cent; meme stocks, 77 per cent; and bitcoin-sensitive names, 112 per cent. Animal spirits are back, and momentum is driving prices more than profits. In that context, OpenAI's valuation isn't a bizarre aberration. Rather, it's a reflection of a wider market mood, with excitement trumping caution.
