Twitter may be worth a third of what Musk paid for it last year, figures show June 1, 2023 Twitter may now be worth one third of what Elon Musk paid for the social media platform just seven months ago, figures show. Financial services company Fidelity has reduced the market value of its equity stake in Twitter for a third time, now putting it at $6.55m (£5.28m). That is down from the nearly $20m [...]
Don’t fear an AI bubble – investor optimism is roaring back, says Hoberman June 1, 2023 A ballooning artificial intelligence (AI) bubble could be a “healthy” sign for the market and shows investor optimism is roaring back, according to one of Britain’s most prolific entrepreneurs.
AI ‘godfather’ feels ‘lost’ over life’s work after experts warn it could lead to extinction of humanity May 31, 2023 One of the “godfathers” of artificial intelligence (AI) has said he feels “lost” as experts warned the technology could lead to the extinction of humanity. Professor Yoshua Bengio told the BBC that all companies building AI products should be registered and people working on the technology should have ethical training. It comes after dozens of [...]
Blockchain and Britcoin could bolster fight against ‘fraud epidemic’, experts argue May 29, 2023 The digital pound could be an important weapon in regulators’ fight against the rising tide of fraud, experts have argued. With the widespread scale of scams in the UK, Quant’s chief executive Gilbert Verdian said “we need a complete reset”. Quant builds technology for blockchains, including those underlying central bank digital currencies (CBDCs). According to [...]
Netflix, no chill as streaming giant starts password sharing crackdown: ‘An account is for use by one household ONLY’ May 24, 2023 Netflix has begun its crackdown on UK and US subscribers who are sharing their password with people who live outside of their household, in a bid to stop account sharing. The streaming giant said a Netflix account was “for use by one household” and those wanting to share accounts “with someone who doesn’t live with [...]
BT gets thumbs up from Ofcom to roll out new wholesale broadband pricing May 24, 2023 BT has been given the all-clear to roll out its discounted wholesale full-fibre offer to broadband providers after the telecoms watchdog found the proposals were not anti-competitive. BT’s network arm Openreach, which runs the UK’s only national broadband network, put forward plans for a pricing deal that would give lower prices to wholesale customers, such [...]
Meta sells Giphy to Shutterstock to comply with UK regulator order May 23, 2023 Shutterstock said today it would buy animated-images platform Giphy from Meta for $53m in cash, months after the Facebook owner had agreed to divest the company on competition concerns. Britain’s competition regulator last year ordered Meta to sell Giphy over fears that it could deny or limit competitors such as Snapchat and Twitter access to the target’s content. Meta had [...]
Big tech and banks conspire in new scheme to combat fraud May 23, 2023 An alliance of banks, tech companies and telecoms groups are set to pilot a new scheme to collect information on scammers as attempts to tackle the UK’s fraud epidemic step up a notch. The new group, Stop Scams UK, has members including the UK’s largest incumbent banks, challenger banks, telecoms providers and big tech firms. [...]
London AI firm bags $250m injection led by Qatari sovereign wealth fund May 23, 2023 A London-based artificial intelligence firm has announced a $250m cash injection led by the Qatari sovereign wealth fund today as investors rush to capitalise on a boom in AI technology.
Google boss Sundar Pichai warns AI is ‘too important not to regulate’ May 23, 2023 Artificial Intelligence (AI) is too important not to regulate and the US and EU must work together to develop “robust” rules to guide the growth of the powerful new technology, Alphabet’s boss Sundar Pichai said today.