REGULATE AI
How Microsoft's Satya Nadella became tech's steely-eyed AI gambler
Nadella, Microsoft's CEO, had his eyes on a Silicon Valley startup called Inflection AI. The company's CEO, Mustafa Suleyman, was one of the founders of the pioneering artificial intelligence company DeepMind.
European regulators crack down on Big Tech
EU regulators probe Big Tech. Apple addresses DMA breaches, Spotify's complaint. Microsoft leaves OpenAI’s board. Meta's consent model, CrowdTangle features, Facebook, Instagram’s child safety scrutinized. Google fined 2.42 billion euros. Amazon's DSA compliance checked. NVIDIA faces French probe. TikTok, Meta gatekeeper disputes. Italy fines Facebook, Meta. Germany ends Google probe. UK investigates cloud market. Spain suspends Meta products.
OpenAI's internal AI details stolen in 2023 breach
In April, a hacker accessed OpenAI's messaging, stealing AI design details. ChatGPT stayed secure. Microsoft-backed OpenAI informed employees, not federal law enforcement. No customer data compromised. Reported by Dey, Timsina, Aich. OpenAI disrupted covert influence operations. Biden administration plans to safeguard AI. In May, 16 companies pledged to develop AI safely, addressing emerging risks.
Explained: Why is France targeting Nvidia?
France's antitrust regulator is set to charge Nvidia in relation to alleged anti-competitive practices. The move comes after dawn raids by French authorities in September last year, which sources said targeted Nvidia. The raids were the result of an ongoing probe into the cloud computing industry.
Government working to regulate AI: IT minister Ashwini Vaishnaw
During the Global IndiaAI Summit 2024, Jitin Prasada highlighted the imperative of responsible AI development and the global threat to democracies. International cooperation is crucial in managing the risks posed by AI technology.
India’s bid to make GPAI as AI regulator gets global support
India has emerged successful in making the Global Partnership on Artificial Intelligence (GPAI) the leading platform for international cooperation on AI governance. This includes establishing regulations and a unified global framework for responsible AI development and implementation.
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Wary Paytm to avoid regulated biz; Foxconn to make AI servers in India
Happy Friday! Paytm is steering clear of regulated businesses and will instead focus on building a strong distribution network. This and more in today's ETtech Morning Dispatch.
AI will eliminate certain roles, but will create more jobs than it eliminates: Deloitte AI exec
In an interview with PTI, Tandon, Managing Director, AI and Insights Practice Leader, Deloitte LLP, said AI will not snatch jobs, but will simply do away with some of the easier jobs, and create new roles.
Meta will not launch Meta AI in Europe for now
Meta Platforms postpones Meta AI launch in Europe due to Irish privacy regulator's request on user data from Facebook and Instagram.
Explainer: Why the few big AI players worry US antitrust regulators
U.S. antitrust enforcers are investigating Big Tech's impact on the AI sector, looking into potential competition issues. Key concerns include data access advantages, impact on workers, and partnerships with Big Tech firms.
US election officials split on AI disclosure rules for political ads
FEC officials are divided over whether to require disclosure of AI-generated content in political ads. FCC Chair Rosenworcel supports the proposal, citing concerns about misleading deep fakes. Vice Chair Weintraub agrees, emphasizing the need for transparency. Chair Cooksey opposes, arguing it would cause chaos for campaigns.
US clears way for antitrust inquiries of Nvidia, Microsoft and OpenAI
Federal regulators are proceeding with antitrust investigations into Microsoft, OpenAI, and Nvidia in the AI industry. The Justice Department and FTC are leading the investigations, signaling increased scrutiny into AI technology.
Brands by scions attract VC money; Ola Electric layoffs
Happy Monday! A new wave of brands founded by second generation entrepreneurs is snagging venture capital. This and more in today’s packed edition of ETtech Morning Dispatch.
Tata Group firms engaged in over 100 Gen AI projects: N Chandrasekaran
TCS chairman N Chandrasekaran announced over 100 Gen AI projects within Tata Group, showcasing tangible business impact in customer experience, productivity, and efficiency.
Indian AI firms may face extra costs as EU’s AI Act kicks in
The European Union wrapped up approval of the world's first law governing AI development last week. This legislation takes a tiered approach, setting varying compliance timelines and regulations based on the potential risk each AI system poses. Generally applicable AI will have a year to comply, while high-risk systems get up to three years.
Human intelligence on keeping AI in line
The second global summit on AI regulation in Seoul showed progress in overseeing AI development. Tech companies reiterated their commitment to basic safeguards. Governments are establishing institutions to monitor risks and define restricted areas. The focus is on harmonizing international regulations to keep AI within approved limits. While promising, current regulations lack enforcement. The shift to government oversight signals progress from industry and academia. Two approaches are emerging: applying rules based on use cases and controlling AI development at its source to prevent scenarios where AI outwits regulations.
Top EU data regulator says tech giants working closely on AI compliance
Des Hogan, Data Protection Commissioner in Ireland, highlighted the broad powers of national regulators to enforce changes in AI products for data privacy compliance.
Stock gaming apps under Sebi scanner; ETtech Done Deals
The capital markets regulator is cracking down on illicit gaming apps that offer virtual trading services and fantasy games. This and more in today’s ETtech Top 5.
Are social media algorithms causing psychological harm to children? Elon Musk thinks so
Elon Musk, CEO of Tesla and father of nine, recently expressed significant concerns about the impact of social media on children. Speaking at the VivaTech fair in Paris, he emphasized the dangers posed by AI algorithms designed to maximize user engagement through increased dopamine levels, making children particularly vulnerable. Musk urged parents to limit their children's exposure to social media, highlighting the potential psychological harm.
EU industry chief urges US to pass new tech rules, foster shared digital market
EU's industry chief calls for new tech regulations for global digital market. Leading in tech regulation with DMA and AI Act. U.S. facing antitrust lawsuit against Apple by Department of Justice.
It’ll take time to leverage full potential of GenAI: : TCS’ AI-Cloud biz head
Siva Ganesan, head, TCS’ AI.Cloud business unit told ET that upskilling of the workforce, reimagining core business processes, focusing on return on investments and conforming to regulatory needs are some of the challenges that organisations face with GenAI.
UK's competition watchdog rejects probe into Microsoft-Mistral AI tie-up
In February, Microsoft invested $16 million in Mistral AI, partnering to make the French start-up's artificial intelligence models available through its Azure platform. It has also invested in ChatGPT owner OpenAI.
EU demands clarity from Microsoft on AI risks in Bing
Generative AI is one of the risks identified by the commission for the integrity of electoral processes, in particular for the upcoming European Parliament elections in June.
To AI or not to AI? Why artificial intelligence deciding your loan application makes regulators nervous
AI & ML are now ubiquitous in banks and financial institutions as it helps the companies improve credit assessment and reduce frauds. Though these models have some risks — and the regulators are rightfully concerned — the good news is these can be resolved without much trouble.
Unchecked retail F&O play could trigger challenges for market: FM
Finance minister Nirmala Sitharaman highlighted the importance of investor sentiment and financial stability at the Viksit Bharat 2047 event. She stressed the role of both BSE and NSE in ensuring market stability, leveraging technology for efficiency, and adopting a soft-touch regulatory approach.
Microsoft hit with Spanish startups' complaint about cloud practices
The US tech giant ranks second in the cloud computing sector, behind market leader Amazon but is expected to close the gap rapidly as a clutch of generative AI features powered by OpenAI's technology attract business users.
Japan's Fumio Kishida unveils a framework for global regulation of generative AI
Kishida made the announcement in a speech at the Paris-based Organization for Economic Cooperation and Development.
Second global AI safety summit faces tough questions, lower turnout
Tesla mogul Elon Musk and OpenAI CEO Sam Altman rubbed shoulders with some of their fiercest critics, while China co-signed the "Bletchley Declaration" alongside the United States and others, signalling a willingness to cooperate despite mounting tensions with the West.
OpenAI begins India hiring in bid to shape regulation early
OpenAI's Pragya Misra will lead Indian government relations amidst Google competition. Altman advocates AI integration in services, emphasizing the need for regulations to prevent harm from advancing technology.
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