{"id":24440,"date":"2023-11-01T11:19:21","date_gmt":"2023-11-01T11:19:21","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/ai-takes-collins-dictionary-word-of-the-year-debanking-makes-shortlist\/"},"modified":"2023-11-01T11:19:22","modified_gmt":"2023-11-01T11:19:22","slug":"ai-takes-collins-dictionary-word-of-the-year-debanking-makes-shortlist","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/ai-takes-collins-dictionary-word-of-the-year-debanking-makes-shortlist\/","title":{"rendered":"\u2018AI\u2019 takes Collins dictionary word of the year, \u2018debanking\u2019 makes shortlist"},"content":{"rendered":"<p><\/p>\n<div data-v-8081b7b6=\"\">\n<p>Artificial intelligence, more specifically its abbreviation \u201cAI,\u201d was crowned word of the year for 2023 in the Collins dictionary, one of the world\u2019s earliest English-language dictionary publishers.<\/p>\n<p>The Collins dictionary defines AI as \u201cthe modeling of human mental functions by computer programs.\u201d The dictionary publisher described AI-powered language models as \u201cbursting into the public consciousness\u201d at the end of 2022.<\/p>\n<p>It said AI has not only seen rapid development in 2023\u00a0but has also been \u201cmuch talked about.\u201d Collins wrote that AI is considered to be the \u201cnext great technological revolution.\u201d<\/p>\n<p>In addition to AI, Collins has had a particular interest in \u201cdigital culture\u201d this year, shortlisting the word \u201cde-influencing,\u201d which it defines as an\u00a0influencer using their online presence\u00a0\u201cto warn followers to avoid certain commercial products, lifestyle choices, etc.\u201d<\/p>\n<p>Among its other shortlisted words for the word of the year, Collins also had two finance-related words. \u201cDebanking\u201d made the list, which its officials define as \u201cthe act of depriving a person of banking facilities.\u201d<\/p>\n<p>Collins claimed this word made the list after a populist politician in the United Kingdom, Nigel Farage, claimed the Coutts bank tried to close his account due to his political affiliation. It wrote that:<\/p>\n<blockquote><p>\u201cThe issue was thrust into the spotlight and many others subsequently came forward to complain of having been debanked without explanation.\u201d<\/p><\/blockquote>\n<p>Debanking has long been an issue tied to the crypto space. In April, United States Republicans in the House Financial Committee argued there is a record of a \u201ccoordinated strategy\u201d of denying players in the digital asset industry access to banking facilities.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Siemens and Microsoft partner to push AI adoption in industrial sectors<\/em><\/strong><\/p>\n<p>Recently, the popular cryptocurrency exchange Binance has been up against debanking woes in Europe. The exchange said that users with its local banking partner Paysafe will not be able to trade euro spot trading pairs from Sept. 28 onward.<\/p>\n<p>Collins also added the word \u201cgreedflation\u201d to its shortlisted words: a compound word containing the words \u201cgreed\u201d and \u201cinflation.\u201d It defined this as the use of inflation as an excuse to raise prices to artificially high levels in order to increase corporate profits.<\/p>\n<p>The dictionary, based in the United Kingdom, said the U.K.\u2019s current living crisis has been driven by inflation and claims many are convinced that \u201cbusinesses are making excessive hikes in order to boost their profits, so-called greedflation.\u201d<\/p>\n<p>According to the U.S. inflation calculator, the country is currently facing an inflation rate of 3.7%, higher than the predicted 3.6% rate, though substantially down from the 2022 and 2021 rates of 6.7% and 7%, respectively.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>\u2018AI has killed the industry\u2019: EasyTranslate boss on adapting to change<\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Artificial intelligence, more specifically its abbreviation \u201cAI,\u201d was crowned word of the year for 2023 in the Collins dictionary, one of the world\u2019s earliest English-language dictionary publishers. The Collins dictionary defines AI as \u201cthe modeling of human mental functions by computer programs.\u201d The dictionary publisher described AI-powered language models as \u201cbursting into the public consciousness\u201d [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-24440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u2018AI\u2019 takes Collins dictionary word of the year, \u2018debanking\u2019 makes shortlist | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/ai-takes-collins-dictionary-word-of-the-year-debanking-makes-shortlist\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018AI\u2019 takes Collins dictionary word of the year, \u2018debanking\u2019 makes shortlist | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"Artificial intelligence, more specifically its abbreviation \u201cAI,\u201d was crowned word of the year for 2023 in the Collins dictionary, one of the world\u2019s earliest English-language dictionary publishers. 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