Meta’s substantial fine over data privacy issues, Intel’s financial forecast amidst trade restrictions, and breakthroughs in AI from OpenAI and Google DeepMind. Don’t miss out!
Fintech
1. Nigeria rejects Binance CEO’s bribery claim as ‘diversionary tactic’
Nigeria has dismissed Binance’s bribery claims as a distraction tactic. The accusation followed Binance CEO Richard Teng’s blog post alleging secret payment solicitations in Nigeria, where a Binance employee is currently imprisoned. (Bloomberg)
Internet governance
2. ICANN launches new gTLD program website
ICANN has launched a new website for the New Generic Top-Level Domain (gTLD) Program. The site offers detailed timelines, support programs, and essential resources for applicants, facilitated by a collaborative effort across multiple ICANN departments. (ICANN)
IT infrastructure
3. AI fuels almost 30% increase in IT modernisation spend, but firms are unprepared for data demands
Couchbase’s 7th annual global IT survey reveals a significant 27% projected increase in IT modernisation investment for 2024, with enterprises focusing heavily on AI, particularly generative AI, to meet escalating productivity demands and improve user experiences. (Cloudtech)
Tech trends
4. Turkey’s competition board to fine Meta $37.2 million in data-sharing probe
Turkey’s competition board imposed a hefty fine of 1.2 billion liras on Meta platforms for breaches related to data-sharing across its key platforms—Facebook, Instagram, WhatsApp, and Threads. (Reuters)
5. Intel expects revenue blow after US blocks chip sales to Huawei
Intel anticipates new U.S. export restrictions, particularly the revoked licences for chip exports to Huawei, will negatively impact its revenue projections for the next quarter. Although Intel’s expected revenue range remains unchanged, it predicts earnings will be below the midpoint. (The Verge)
AI
6. OpenAI’s Model Spec outlines some basic rules for AI
OpenAI’s newly proposed Model Spec framework aims to ensure AI tools, including GPT-4, respond responsibly by assisting users, benefiting humanity, and adhering to social norms and laws. It includes guidelines for following laws, respecting privacy, and avoiding NSFW content, with the potential for user-customisable settings. (The Verge)
7. Google DeepMind’s new AI can model DNA, RNA, and ‘all life’s molecules’
Google DeepMind’s AlphaFold 3 represents a significant advancement in AI for biology, expanding from protein structures to modeling DNA, RNA, and ligands. This enhancement boosts prediction accuracy by 50% and supports complex scientific research in medicine and drug development. (The Verge)
AR/VR
8. Network rail’s XR training pilot reaches 1,000 UK students
Network Rail’s VR-based immersive learning program at Trinity Academy marks a significant milestone, teaching over 1,000 students about railway safety. This innovative approach uses virtual reality to vividly illustrate the dangers of railway trespassing, enhancing understanding and engagement among young learners. (XR Today)
IoT
9. Space tech startup raises $19M for GPS alternative satellites
Xona, a space tech startup, has secured $19 million in Series A funding to enhance its LEO satellite network, aiming to provide more secure and accurate navigation services through its Pulsar service. (IoT World Today)
10. Automotive cybersecurity tool launches
Keysight Technologies and ETAS are collaborating to enhance automotive cybersecurity by integrating ETAS’s CycurFUZZ tool into Keysight’s testing platform, allowing automakers to efficiently test and improve cyber resilience in connected vehicles against increasing cyberattack risks. (IoT World Today)
