Dec 9th, 2023 – EU Approves Regulations for Artificial Intelligence
The European Union recently agreed on comprehensive regulations to oversee the realm of artificial intelligence (AI).During the discussions among key EU institutions, considerable focus was placed on technologies like ChatGPT, and the use of biometric identification tools such as facial recognition and fingerprint scanning. Differing viewpoints emerged among countries like Germany, France, and Italy. These nations advocated for a more indirect approach, preferring self-regulation by the responsible companies, although guided by government-introduced codes of conduct. Their concern primarily centered on the potential negative impact of stringent regulations on Europe’s competitiveness in the global tech landscape. This legislation categorizes AI into varying risk levels, ranging from “unacceptable” technologies that warrant prohibition to lower-risk classifications. These AI tools amazed everyone, however, the emergence of these advancements also triggered concerns regarding potential job displacement, the propagation of biased content, and the infringement of privacy rights.
Oracle’s Cloud Gains Attention
Experts at JPMorgan noticed more people catching attention on Oracle’s Cloud Infrastructure (OCI) alongside big players like Azure, AWS, and GCP. Mizuho experts said OCI is cheaper and performs well compared to AWS, making it appealing to investors.
However, Morgan Stanley analysts, while acknowledging OCI’s significance, tempered their expectations following Oracle’s fiscal 2024 first-quarter earnings. The focus now lies on OCI’s progress, particularly in transitioning existing on-premises customers to the cloud, setting the stage for Oracle’s fiscal second-quarter performance evaluation.
Apple’s strategic shift towards India
Apple’s history of manufacturing in China shifted focus as it established its first stores in India and witnessed its supplier Foxconn’s $1.5 billion investment in the country. Its presence in this new area aims to tap into the country’s growing economy and decrease reliance on China. Reports indicate plans for a substantial iPhone manufacturing plant by Tata Group and the intent to produce iPhone 16 batteries in India. Economic comparisons between China and India highlight the growth potential of the second one. Demographics reveal a significant rise in disposable income among India’s middle and affluent classes, positioning the country as a lucrative market for companies eyeing expansion.
Author: Simona Merlo