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UK's antitrust enforcer sounds the alarm over Big Tech's grip on GenAI

TechCrunch · 1y ago

UK's antitrust enforcer sounds the alarm over Big Tech's grip on GenAI

The U.K's competition watchdog, the Competition and Markets Authority (CMA), has expressed concerns about the increasing control of Big Tech companies in the advanced AI market. The CMA warns that the concentration of power in firms such as Google, Amazon, Microsoft, Meta, and Apple (GAMMA) could harm fair competition, reduce choice and quality, and lead to higher prices for businesses and consumers. The CMA is closely monitoring partnerships and the potential for anti-competitive behavior, using merger review powers to investigate further. It is urging AI giants to follow its principles for responsible development.

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Kevin O'Leary, the 'Mr. Wonderful' from Shark Tank, Sounds the Alarm A Looming Financial Crisis Threatens Small Business Owners

Business Bytes

Business Bytes · 1y ago

Kevin O'Leary, the 'Mr. Wonderful' from Shark Tank, Sounds the Alarm A Looming Financial Crisis Threatens Small Business Owners

Kevin O'Leary, the 'Mr. Wonderful' from Shark Tank, Sounds the Alarm A Looming Financial Crisis Threatens Small Business Owners In the world of business, Kevin O'Leary, affectionately known as "Mr. Wonderful" from the hit TV show Shark Tank, is renowned for his no-nonsense approach to investments and his sharp eye for opportunities. However, his latest warning isn't about the next big deal; it's about a financial crisis that's quietly creeping up on us all.

Big Tech's acquihire deals face regulatory scrutiny, outgoing EU antitrust official says - The Economic Times

Economic Times

Economic Times · 28d ago

Big Tech's acquihire deals face regulatory scrutiny, outgoing EU antitrust official says - The Economic Times

The European Union is planning stricter regulations for Big Tech's "acquihire" deals, where tech giants hire talent from startups. These practices are seen as ways to bypass antitrust rules. Outgoing EU antitrust head Olivier Guersent encourages national agencies to investigate such deals. The EU is using call-in provisions for better scrutiny. Acquihires can be seen as mergers, impacting effective competition, prompting the EU to push national regulators for proactive measures.

Google says discord over search results is unresolved; risks EU antitrust fine - The Economic Times

Economic Times

Economic Times · 1m ago

Google says discord over search results is unresolved; risks EU antitrust fine - The Economic Times

Google recently failed to resolve disagreements with hotels, airlines, and search services over its search result presentation, risking an EU antitrust fine. At a workshop, Google proposed solutions to address charges of unfairly prioritizing its services like Google Shopping. Options included giving vertical search services top page visibility, but critics argue they cement Google’s dominance and mislead consumers. The EU's Digital Markets Act aims to curb Big Tech's power, with potential significant fines for violations.

Donald Trump admin to press ahead with Amazon, Meta antitrust cases

Economic Times

Economic Times · 6m ago

Donald Trump admin to press ahead with Amazon, Meta antitrust cases

The Trump administration will continue its antitrust cases against Amazon and Meta, with Federal Trade Commission Chair Andrew Ferguson affirming ongoing efforts to address Big Tech's market dominance. Despite speculations of a shift due to Trump's ties with tech leaders, such as Meta's Mark Zuckerberg and Amazon's Jeff Bezos, the administration remains committed to robust antitrust enforcement. Moreover, public inquiries into tech platforms' content restrictions are being launched, alongside considerations for reforming Section 230.

US sues Amazon for breaking antitrust law and harming consumers

Economic Times

Economic Times · 1y ago

US sues Amazon for breaking antitrust law and harming consumers

The US Federal Trade Commission has filed an antitrust lawsuit against Amazon, accusing the e-commerce giant of harming consumers with higher prices. The lawsuit claims that Amazon's actions prevent rivals and sellers from lowering prices, degrade quality for shoppers, overcharge sellers, stifle innovation, and hinder fair competition. The lawsuit comes after years of complaints about Big Tech's dominance of the internet. The FTC is seeking a permanent injunction to stop Amazon's alleged unlawful conduct. Several state attorneys general have joined the lawsuit.

The world's pioneering tech cop is making her exit

Economic Times

Economic Times · 9m ago

The world's pioneering tech cop is making her exit

Margrethe Vestager, the European Union's antitrust enforcer, has gained global recognition for her tough stance on the tech industry. Over the past decade, she has brought numerous cases against tech giants like Google, Apple, and Amazon for illegal practices and anti-competitive behavior. While facing criticism initially, her efforts have paved the way for increased regulation of the tech industry globally. Vestager is now preparing to leave her role and take a position at a university in Denmark, while Teresa Ribera Rodríguez will take over as the EU's top antitrust regulator. Vestager also discussed her pride in her record and the need for bolder actions from regulators. She emphasized the importance of strong oversight, the regulation of social media platforms, and equal treatment under the rule of law.

Google has an illegal monopoly on search, US judge finds

Economic Times

Economic Times · 1y ago

Google has an illegal monopoly on search, US judge finds

A US judge has ruled that Google violated antitrust laws by creating an illegal monopoly as the default search engine. This marks a significant victory for federal authorities in their fight against Big Tech's market dominance. The ruling opens the path for a second trial to determine potential remedies, including the possibility of breaking up Google's parent company, Alphabet. The case highlights the growing scrutiny on the power of tech giants, with Google controlling around 90% of the online search market and 95% on smartphones. The legal battle could continue for several years with potential appeals.

Apple offers to settle EU antitrust charges on Apple Pay, sources say

Economic Times

Economic Times · 1y ago

Apple offers to settle EU antitrust charges on Apple Pay, sources say

Apple has reportedly offered to settle the European Union's antitrust charges related to Apple Pay. The tech giant has proposed certain commitments to address the concerns raised by the EU competition enforcer. The charges against Apple alleged that it practices anti-competitive behavior by limiting access to the NFC (Near Field Communication) technology on its devices for payments made through mobile apps other than Apple Pay. The company could face a fine of up to 10% of its global turnover if found guilty.

Big Tech's AI data centers are driving up electricity bills for everyone - The Economic Times

Economic Times

Economic Times · 14d ago

Big Tech's AI data centers are driving up electricity bills for everyone - The Economic Times

Big Tech's AI-driven data centers are consuming significant electricity, leading to power industry tensions over who covers grid upgrade costs. These centers, essential for processing AI workloads, have driven up electricity demand, contributing to rising residential electricity bills. The challenge centers on allocating costs fairly without burdening residents. Technology companies, now major energy players, are influencing electricity pricing policies, creating debates with utilities and regulators to determine who pays for infrastructure upgrades.

Tim Cook says Apple will 'break new ground' in GenAI this year

TechCrunch · 1y ago

Tim Cook says Apple will 'break new ground' in GenAI this year

Apple's CEO Tim Cook announced during the annual shareholders meeting that the company will "break new ground" in the field of Generative Artificial Intelligence (GenAI) this year. This comes as Apple reportedly shifted some staff from an abandoned electric vehicle project to work on GenAI initiatives. Compared to its counterparts in Big Tech, Apple has been slower to invest in GenAI. However, the company is said to be exploring integrating GenAI models into Siri, Spotlight, Keynote, and Apple Music, among others, for more advanced features. Apple engineers have also been publishing academic and technical papers on GenAI and releasing open-source models and tools.

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