Chinese universities start teaching DeepSeek AI courses
Chinese universities are launching AI courses based on the country's groundbreaking startup DeepSeek.
In January, the company sent shockwaves through the West when it unveiled an AI model as powerful as ChatGPT that can run at a fraction of the cost.
Now, Shenzhen University in southern Guangdong province has confirmed it is launching an artificial intelligence course based on DeepSeek that will help students learn about key technologies.
Students will also study security, privacy and other challenges posed by artificial intelligence.
The move comes as Chinese authorities aim to boost scientific and technological innovation in schools and universities that can create new sources of growth.
The course will "explore how to find a balance between technological innovation and ethical norms", said the university.
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Three other universities confirmed to Reuters that DeepSeek is being embedded into their courses, as Chinese authorities push for growth in the country's tech sector.
On Monday, China's premier Xi Jinping held a rare meeting of the country's tech leaders.
He encouraged them to "show their talent" and be confident in the power of China's model and market.
One analyst said the meeting was a reflection of the Chinese government's concern that it is lagging behind the US when it comes to technology.
"It's a tacit acknowledgement that the Chinese government needs private-sector firms for its tech rivalry with the United States," said Christopher Beddor, deputy China research director at Gavekal Dragonomics in Hong Kong.
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Hey AI! Can ChatGPT help you to manage your money?
Artificial intelligence seems to have touched every part of our lives. But can it help us manage our money? We put some common personal finance questions to the free version of ChatGPT, one of the most well-known AI chatbots, and asked for its help. Then we gave the answers to some – human – experts and asked them what they thought. We asked: I am 35 years old and want to ensure I have a comfortable retirement. I earn about £35,000 a year and have a workplace pension, in which I have saved £20,000. My employer contributes 4% of salary. I would like to retire at 60 and want to ensure I have enough in my pension pot to not worry about money later in life. Do I need to save more? ChatGPT said*: A comfortable single-person retirement requires roughly £43,000 a year of spending (in today's money) while a moderate lifestyle might need £31,000 a year. Covering £43,000 a year over a 20- to 30-year retirement implies a very large pension pot of about £793,000 in addition to the state pension. A moderate £31,000 a year needs £478,000 in savings. Your state pension will kick in at 67 and is about £12,000 a year, much less than the £43,000 needed for comfort and it does not arrive until seven years after you retire. This 'pre-state pension gap' could well exceed £150,000. You must plan to fund all expenses for seven years on your own savings. Even optimistic growth leaves you well below the £500,000 to £800,000 needed. You'll need to save more – much higher than 9%. Vanguard [an investment adviser] suggests saving 12% to 15% of your pay a year (including employer contributions). Legal & General offers a rule-of-thumb savings percentage of half your age: at 35, that means 17.5% of your salary. Since your employer already gives 4%, you might target 11%. Don't forget UK tax relief: your 20% basic-rate relief effectively makes every £80 you save cost you only £60 net. Consider topping up with a lump sum or contributing to a stocks and shares Isa. Read ChatGPT's full answer here Steve Webb, a partner at the pension consultants LCP, says: Using the Pensions and Lifetime Savings Association (PLSA) standard for a 'comfortable' and moderate income seems a reasonable place to start. For someone aged 35 today, the state pension age by law will be 68 (and could be higher by the time they get there) so the reference to 67 in the reply is incorrect. The PLSA says you need £43,000 a year after tax, so that implies a pre-tax income of very roughly £50,000; you get £12,000 a year of this from state pension age, but for the first eight years of retirement (before the state pension kicks in) you would need this to come from your pension pot. This means you will need £635,000 on current calculations. The figure of £793,000, therefore, looks over the odds, though there may be an assumption (not made explicit) that a quarter is always taken in tax-free cash. The person using AI needs to understand what assumption has been made around tax-free cash to clarify what is going on. It is good the AI explains that in the first years of retirement you are relying solely on your private pension pot, a kind of basic 'cashflow modelling' many advisers would do as standard. The rules of thumb are a decent starting point, although the one about saving at a percentage which is half your age is for people who only start saving at that age. One omission is that there is no reference to the possibility of an additional employer match. Some firms will pay more if you pay more, and that would make additional workplace saving much more attractive than the suggested alternative of an Isa. Another omission is that if you buy an annuity at 60, you may want to think about things such as inflation protection, and these would increase the size of pot you needed to target. I don't think it's a bad reply aside from the error on state pension age. But you would want to go deeper in terms of understanding the assumptions made. We asked: We have 20 years left on our mortgage and our current rate is due to run out in a few months. The loan to value is about 50%. What are the best rates on the market? Should we go for a two-year or five-year fix? Or should we stay put and hope that that rates come down? ChatGPT said: The very cheapest two‑year fixes are about 3.7% to 3.8% and five‑year fixes are about 3.8% to 3.9% for borrowers with large deposits. With 50% equity you should qualify for the lowest-rate tier. For example, Lloyds Bank has a two‑year fix at 3.72%. These often have arrangement fees (typically £999) so factor them into any calculation. For five‑year fixes, Lloyds offers 3.78%. If you did nothing, your mortgage would revert to the lender's standard variable rate, which are typically much higher – about 7-8%. An SVR can jump if rates rise, and lenders are not required to pass on cuts in full. If you expect further rate cuts, a two‑year deal lets you refinance again sooner at (hopefully) lower rates. The downside is more frequent remortgaging: after two years, you'll need another deal. Five-year deals are likely to be a few tenths higher but give peace of mind for longer and protect you if market rates jump or stay elevated. If stability of repayments is your priority, a five‑year fix is often recommended. Most analysts expect further modest cuts – economists at Barclays predicted the bank rate could fall to 3.5% by early 2026. That could push mortgage offers down further, but likely not to the ultra-low levels seen pre-2020. Many experts lean toward taking a fixed rate now (especially to avoid the very high SVR) and revisiting options after a year or two. Read ChatGPT's full answer here David Hollingworth of the broker L&C Mortgages says: This response is not even close to the level of advice that a qualified adviser would provide. What it does provide is a quick spin around some of the things that have been going on in the market, along with a general overview of elements the borrower may want to think about. The AI response is a bit of a mishmash and veers from quite specific information, such as specifying the Lloyds rate, to more general observations. Aside from the fact that this deal is now defunct, it also required the borrower to be a current account customer. Criteria will be as much a factor for many borrowers as the deal itself. It does highlight that there's an arrangement fee to factor in, but borrowers need to understand there are options that can reduce or remove those costs, which could work much better for someone with a smaller mortgage. It feels a bit mixed about what may or may not happen with rates – the bottom line is that none of us know and, as far as I know, that includes AI. Because it was asked about two- and five-year rates, it fails to consider whether another option could fit better. An adviser would take a borrower through that, which could open up something like a three-year deal, fixing for 10-plus years and the existence and pros and cons of variable rate deals, too. The response may give some food for thought to borrowers and help them consider the questions they want to cover with a human adviser. Most borrowers will have had a browse online of 'best buy' deals and coverage of what's happening in the market before seeking individual advice. ChatGPT may offer another way to drag a very general summary together quickly as part of that research. We asked: I have two children (12 and 15), both of whom are in secondary school. Both want to go to university when they finish school. What is the best way for me to start saving and how much will I need to put together? They will be going to university in the UK. Can they get student loans? How much will accommodation cost us? ChatGPT started with details of the government loans for tuition and living costs and when they need to be repaid. It says these children would qualify for the minimum maintenance loan of between £3,907 and £6,853 depending on where they work and study. It then said: It's wise to start saving now with dedicated education savings. Junior Isas allow up to £9,000 a year for each child in tax-free savings or investments. Any growth is tax-free, and funds are released when the child turns 18. Even small regular deposits (eg £50-£100/month) into a Jisa, or a high-interest children's savings account, can add up. Other options include premium bonds, a stocks and shares Isa (higher risk, higher potential return), or simply a regular savings account in the parents' name. Consider investments for long-term growth: index funds or diversified portfolios can beat savings rates, though with risk of loss. It added that you should encourage children to save and to check for bursaries and scholarships. Read ChatGPT's full answer here Charlene Young, a senior pensions and savings expert at AJ Bell, says: It did a decent job of spelling out the facts of how much uni could cost, and the probable level of loan that could be applied for. It falls short on explaining the differences that would help someone make the right decision for their circumstances. A discussion with a real person would involve questions asking for extra information to give a more comprehensive answer. When saving or investing for children, we often talk about putting on your own oxygen mask first, such as checking you have a cash buffer or emergency fund for those unexpected costs. I'd want to double check that you don't have any unsecured, high-interest borrowing outstanding – the AI answer doesn't really explain that, starting from an assumption your own finances are in good shape. A pot such as a junior Isa makes sense for a specific goal such as university costs, but that money is locked away until the child turns 18 – and after that, it switches to an account in their own name that they can spend as they wish. It was good to see the AI suggest involving the child in all financial discussions to help them become a bit self-sufficient and mitigate some of those risks, but the answer did not spell out the important access at age 18 point. We know that investing gives the best chance of growing money over the long term – above cash and rises in the cost of living. But the short investment window between now and the time the eldest child would go to university was not mentioned at all as a risk. A specific fund recommendation from AI would be a bit of a red flag, but it's helpful to give people an idea of what could be considered or where to find more information. For example, what is an index fund, or a diversified portfolio and what are the likely costs. Here, a real adviser could make a formal recommendation, or an expert could point out how to research different types of funds. We asked: I have just bought my first home and am expecting a child with my partner. What types of insurance do we need and how much should we spend? We travel on holidays every year and both work full time. ChatGPT gave a list of insurances and explained what each does, including what policies typically provide and exclude. For example, it said 'life insurance pays a tax-free lump sum or regular payout if a policyholder dies during the term… A Which? comparison found a 30-year-old could insure £300,000 (25-year term) for about £113 per year.' It said the key policies to get in this case were life insurance, income protection, critical illness cover, buildings insurance, contents insurance, and travel insurance. It said: 'To save on premiums, you can bundle cover as insurers often discount multi-policy customers. A joint life policy (pays on first death) is cheaper than two single life policies, but note it ends on first claim. Sometimes buying separate dual life (first-death) and second-death life insurance can be optimal. Rates vary widely so get multiple quotes.' Read ChatGPT's full answer here Graeme Trudgill, chief executive of the British Insurance Brokers' Association says the response is 'very generic' and does not take into account the complexities of insurance. Brokers, he says, are able to negotiate with providers on behalf of the consumer and know what the best policies are on the market. Kathryn Knowles from brokers Cura Insurance says some of the advice on critical illness cover was confused and did not properly distinguish it from income protection, which advisors have to do. And Garry Nelson from AllClear Travel Insurance says the AI's response on travel insurance is 'very simplistic' and fails to help people in what they need, be it a single trip or annual policy. 'This is as far as ChatGPT can go in my opinion for travel insurance enquiries – ie offering a general description as it is not regulated to offer anything more detailed or complex,' he says. The responses from ChatGPT were largely limited to general summaries about the various topics – and sometimes even contained inaccuracies. They may be a useful introduction and guide, but lack the level of detail needed to make serious decisions that could cost thousands of pounds. It's a good place to start if you want an idea of some of the things you need to think about before making decisions – but if you want advice, you should be better off with a human. * The responses from ChatGPT have been edited for this article What to ask and how You will get better detail in an answer if you provide a lot of information, such as your age, your salary and what debts you have, rather than just asking a general question. Check your privacy settings to ensure you are comfortable with how ChatGPT processes your data. You may well want to ensure your chats are not being used for training. Don't rely on the AI to tell you about the most up-to-date products. Instead do your own research or go to an adviser. The AI is better placed to give plans or broad strategies. Use it as a jumping-off tool, not for a final plan. While you might get some good general details, don't make any decisions without doing your own research as well or consulting an expert. If you don't understand a term, ask the AI to break it down for you – for example, you might want to know what the difference is between types of loan available when you go to university. On the free version of ChatGPT, click 'Run Deep Research' in the tools section of the query box to get a more extensive report on your query, as we did in collating this article. There are five opportunities to use it in the free version, and you can pay for more.
Scotsman
14 hours ago
- Scotsman
Scots pay half billion in subsidies while China build the buses
Alexander Dennis has announced it plans to close down its Falkirk area operations to relocate to one single base in Scarborough (Picture: Michael Gillen, National World) Ministers should have been using their leverage over the big operators to keep Falkirk afloat Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... One way and another, the Scottish Government subsidises bus services by more than half a billion pounds a year. There would hardly be a bus on a Scottish road without subsidy which accounts for well over half of total revenue. There has been another £150 million for the ScotZEB programme 'to deliver zero-emission buses to Scotland's roads', the latest in a series of capital funds without which there would be precious few new or refurbished buses on our highways and by-ways. Advertisement Hide Ad Advertisement Hide Ad Put these two facts together and the prospective loss of a bus manufacturing industry in Scotland borders on the incomprehensible. Beyond buses, if a 'procure in Scotland' strategy cannot be applied in this case, what hope is there of enforcing local content provisions in other sectors, notably renewable energy? Without political backbone, it won't happen. Ensuring the survival of Scotland's bus network is a good use of public funds. Equally, for any government to invest this kind of money and then claim it has no leverage over where it is spent is preposterous – and that should be the starting point in addressing the future of Alexander Dennis Ltd and maintaining a proud, skilled industry. While the Scottish Government pours money into our bus network, of more than 250 buses ordered under ScotZEB, 44 will be built in Falkirk. In the second phase of this scheme, two thirds of orders went to a single Chinese company where Scotland is doubtless the boardroom toast. There is something far, far wrong – and avoidable - about that outcome. I saw a sound-bite from Kate Forbes, the deputy first minister, in which her priority was to transfer political responsibility. Her own administration, she said sweetly, was unable to specify 'local content' because of UK legislation and, she claimed, the Scottish Government's pleas for relief from this constraint had been in vain. Advertisement Hide Ad Advertisement Hide Ad Even by SNP standards, it sounded a rather premature piece of blame shifting since every sinew of current effort should surely be devoted to saving these 400 jobs in Falkirk and Larbert, not explaining them away. Ms Forbes' attempt at self-exoneration also failed the credibility test on multiple grounds. Most obviously, the publicly owned Greater Manchester Bees Network has purchased 160 state of the art buses from Falkirk and is delighted with the product. Somehow, the office of Andy Burnham found a way through challenges which Ms Forbes portrays as show-stoppers. Did she or her civil servants ever pick up the phone to Manchester? In the last few days, in an effort to head off redundancies, the Secretary of State for Scotland, Ian Murray, has written to all the Metro Mayors in England, who will soon be ordering buses, asking them to follow Manchester's example. Meanwhile, the Scottish Government claims to be helpless while the orders it funds flow out to China. The legislation which supposedly presents such an obstacle to the Scottish Government is the Subsidy Control Act of 2022 which replaced what existed pre-Brexit. It was needed to keep the UK inside the terms and conditions of the World Trade Organisation and the General Agreement on Trade and Tariffs (GATT). Dry but necessary stuff. Advertisement Hide Ad Advertisement Hide Ad It is disputed whether the ScotZEB scheme counts as subsidy for the purposes of the Act. Even if it does, the job of Ministers and civil servants in these circumstances should be to put together a case, based on exemptions available, which allows direct awards to be made. At the same time, Ministers should have been using their leverage over the big operators to keep Falkirk afloat. Neither is it true to claim that this is something which has crept up on the Scottish Government without prior notice. Last September, the company started a consultation process about 160 redundancies for exactly the same reasons they are now citing. They needed more buses to build. At that point, every stop should have been pulled out to ensure the ScotZEB orders were going to Falkirk and not to China. Any Minister worth his or her salt looks for deals to make in these circumstances which are not necessarily underpinned by formal agreements. I did it back in my own Ministerial days in not dissimilar circumstances but this is not party political. I have no doubt Michael Forsyth knew how to apply a bit of friendly pressure and I am absolutely certain Alex Salmond would have told a couple of bus operators exactly what was expected from them, or else. If the Scottish Government cannot use its leverage to fight for jobs, it is entirely due to the absence of competence or creativity within its current ranks. John Swinney's plaintive plea that he 'cannot act in a fashion outwith the provisions of the law' is the language of a bureaucrat whose obligation is to find a rationalisation for inactivity. The possibility always exists, of course, that a company has decided on a course of action for its own reasons and has no interest in being dissuaded from it. The only way to find that out is to make an offer which they would, if goodwill exists, be unlikely to refuse. In this case, a decent order for buses, underwritten by the Scottish Government, might, for example, be enough to buy a stay of execution – and would certainly test the bona fides of the Canadian owners. Advertisement Hide Ad Advertisement Hide Ad
