Digital business models Archives | Page 345 of 569

SoftBank plans Arizona tech site; TSMC may join

According to a Bloomberg report, SoftBank Group Corp. founder and CEO Masayoshi Son is reportedly exploring plans to develop a $1 trillion industrial complex in Arizona focused on AI and robotics.

The Tokyo-based technology investment firm’s proposed initiative — Project Crystal Land — aims to re-establish high-tech manufacturing capabilities in the United States.

The complex may include production facilities dedicated to AI-powered industrial robots, Bloomberg cited a source familiar with the matter as saying.

SoftBank reportedly seeks to collaborate with Taiwan Semiconductor Manufacturing Co. (TSMC) on the venture.

However, details regarding the nature of TSMC’s potential involvement or whether the company is considering a formal partnership remain unclear.

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US Senator proposes crypto ban for top officials

Senator Adam Schiff has proposed a bill to ban top officials and their families from engaging in crypto ventures while in office. The COIN Act seeks to ban top officials from endorsing, creating, or promoting cryptocurrencies, NFTs, and stablecoins.

The proposal follows growing scrutiny of President Donald Trump’s involvement in digital assets. Schiff pointed directly to Trump’s financial gains, which included $58 million from token sales in 2024 and a projected $390 million in 2025.

He argued that such activities raise ‘ethical, legal and constitutional’ concerns, especially concerning public office.

Under the COIN Act, any sale of digital assets over $1,000 must be disclosed. Violators could face penalties equal to their profits and up to five years in prison.

Despite this push, Schiff previously voted for the GENIUS Act, which exempted the president and vice president from stablecoin restrictions—a move some critics see as contradictory.

The bill has gained support from nine Senate Democrats but is unlikely to pass under a Republican-controlled Congress. Democrat-led measures, such as the MEME Act and the Stop TRUMP in Crypto Act, have similarly struggled to gain traction.

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NCSC issues new guidance for EU cybersecurity rules

The National Cyber Security Centre (NCSC) has published new guidance to assist organisations in meeting the upcoming EU Network and Information Security Directive (NIS2) requirements.

Ireland missed the October 2024 deadline but is expected to adopt the directive soon.

NIS2 broadens the scope of covered sectors and introduces stricter cybersecurity obligations, including heavier fines and legal consequences for non-compliance. The directive aims to improve security across supply chains in both the public and private sectors.

To help businesses comply, the NCSC unveiled Risk Management Measures. It also launched Cyber Fundamentals, a practical framework designed for organisations of varying sizes and risk levels.

Joseph Stephens, NCSC’s Director of Resilience, noted the challenge of broad application and praised cooperation with Belgium and Romania on a solution for the EU.

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Traders bet on war with meme coins

Amid rising Middle East tensions, crypto traders rushed into World War-themed meme coins, seeking profits from panic. BunkerCoin, a token linked to a supposed German bunker project, surged nearly 2,000% before losing most of its gains.

Other tokens, like Werld Wur Thwee and Sticks and Stones, followed similar boom-and-bust cycles.

Most of these speculative tokens launched via Pump.fun, a Solana-based platform that has created over 11 million meme coins. According to on-chain analysts, these coins are rarely linked to genuine interests.

Instead, traders follow trending topics, from war to celebrity illnesses, to profit quickly—regardless of ethical implications.

Industry observers argue that the meme coin craze reflects deeper issues. Educational and financial nihilism, particularly among younger generations, pushes many away from traditional finance.

Disillusioned by stagnant wages and high living costs, they turn to meme coins not just for money but for identity and cultural belonging.

Some projects have crossed moral boundaries, mocking cancer diagnoses or promoting hate speech. Yet despite the risks, the appeal of instant gains continues to drive participation.

One expert noted, ‘Meme coins thrive on dopamine, not fundamentals.’

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Alibaba Cloud launches new AI tools and education partnerships in Europe

Alibaba Cloud has announced a new suite of AI services as part of its expansion across Europe.

Revealed during the Alibaba European Summit in Paris, the company said the new offerings reinforce its long-term commitment to the region by providing AI-driven tools and cloud solutions for fashion, healthcare, and automotive industries.

A key development is a significant upgrade to the Platform for AI (PAI), Alibaba’s AI computing platform hosted in the Frankfurt cloud region. The company stated that the enhancements will increase efficiency and scalability to meet the rising demand for compute-intensive workloads.

The platform’s improvements are powered by Alibaba’s proprietary AI Scheduler, which optimises allocating diverse cloud computing resources.

Alibaba Cloud also aims to support European companies entering Asian markets. The firm cited its strategic partnership with SAP to provide enterprise resource planning (ERP) solutions in China, Southeast Asia, and the Middle East.

In the automotive sector, Alibaba recently extended its partnership with BMW in China to integrate its Qwen AI models into vehicles.

Alibaba Cloud has signed an agreement with France’s Brest Business School to strengthen AI skills and collaboration. The partnership will include academic programmes, training in AI and cloud technologies, and support for digital transformation initiatives.

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OpenAI and io face lawsuit over branding conflict

OpenAI and hardware startup io, founded by former Apple designer Jony Ive, are now embroiled in a trademark infringement lawsuit filed by iyO, a Google-backed company specialising in custom headphones.

The legal case prompted OpenAI to withdraw promotional material linked to its $6.005 billion acquisition of io, raising questions about the branding of its future AI device.

Court documents reveal that OpenAI and io had previously met with iyO representatives and tested their custom earbud product, although the tests were unsuccessful.

Despite initial contact and discussions about potential collaboration, OpenAI rejected iyO’s proposals to invest, license, or acquire the company for $200 million. The lawsuit, however, does not centre on an earbud or wearable device, according to io’s co-founders.

Io executives clarified in court that their prototype does not resemble iyO’s product and remains unfinished. It is neither wearable nor intended for sale within the following year.

OpenAI CEO Sam Altman described the joint project as an attempt to reimagine hardware interfaces. At the same time, Jony Ive expressed enthusiasm for the device’s early design, which he claims captured his imagination.

Court testimony and emails suggest io explored various technologies, including desktop, mobile, and portable designs. Internal communications also reference possible ergonomic research using 3D ear scan data.

Although the lawsuit has exposed some development details, the main product of the collaboration between OpenAI and io remains undisclosed.

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M&S and Co‑op hit by Scattered Spider attack

High street giants M&S and Co‑op remain under siege after the Scattered Spider gang’s sophisticated cyber‑attack this April. The breaches disrupted online services and automated systems, leading to suspended orders, empty shelves and significant reputational damage.

Authorities have classified the incident as category‑2, with initial estimates suggesting losses between £270 million and £440 million. M&S expects a £300 million hit to its annual profit, with daily online sales down by up to £4 million during the outage.

In a rare display of unity, Tesco’s Booker arm stepped in to supply M&S and some independent Co‑op stores, helping to ease stock shortages. Meanwhile, cyber insurers have signalled increasing premiums, with the cost of cover for retail firms rising by up to 10 percent.

The National Cyber Security Centre and government ministers have issued urgent calls for the sector to strengthen defences, citing such high‑impact incidents as a vital wake‑up call for business readiness.

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Banks and tech firms create open-source AI standards

A group of leading banks and technology firms has joined forces to create standardised open-source controls for AI within the financial sector.

The initiative, led by the Fintech Open Source Foundation (FINOS), includes financial institutions such as Citi, BMO, RBC, and Morgan Stanley, working alongside major cloud providers like Microsoft, Google Cloud, and Amazon Web Services.

Known as the Common Controls for AI Services project, the effort seeks to build neutral, industry-wide standards for AI use in financial services.

The framework will be tailored to regulatory environments, offering peer-reviewed governance models and live validation tools to support real-time compliance. It extends FINOS’s earlier Common Cloud Controls framework, which originated with contributions from Citi.

Gabriele Columbro, Executive Director of FINOS, described the moment as critical for AI in finance. He emphasised the role of open source in encouraging early collaboration between financial firms and third-party providers on shared security and compliance goals.

Instead of isolated standards, the project promotes unified approaches that reduce fragmentation across regulated markets.

The project remains open for further contributions from financial organisations, AI vendors, regulators, and technology companies.

As part of the Linux Foundation, FINOS provides a neutral space for competitors to co-develop tools that enhance AI adoption’s safety, transparency, and efficiency in finance.

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Oakley Meta HSTN smart glasses unveiled

Meta and Oakley have revealed the Oakley Meta HSTN, a new AI-powered smart glasses model explicitly designed for athletes and fitness fans. The glasses combine Meta’s advanced AI with Oakley’s signature sporty design, offering features tailored for high-performance settings.

The device is ideal for workouts and outdoor use and is equipped with a 3K ultra-HD camera, open-ear speakers, and IPX4 water resistance.

On-device Meta AI provides real-time coaching, hands-free information and eight hours of active battery life, while a compact charging case adds up to 48 more hours.

The glasses are set for pre-order from 11 July, with a limited-edition gold-accent version priced at 499 dollars. Standard versions will follow later in the summer, with availability expanding beyond North America, Europe and Australia to India and the UAE by year-end.

Sports stars like Kylian Mbappé and Patrick Mahomes are helping introduce the glasses, representing Meta’s move to integrate smart tech into athletic gear. The product marks a shift from lifestyle-focused eyewear to functional devices supporting sports performance.

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Watson CoPilot brings AI-driven support to small firms

IBM has introduced AI-powered software to help small businesses improve operations and customer engagement. Based on its Watson AI, the tools aim to streamline tasks, reduce costs and offer deeper insights into customer behaviour.

One of the key features is Watson CoPilot, an AI assistant that handles routine customer queries using natural language processing. However, this allows employees to focus on complex tasks while improving response times and customer satisfaction.

IBM highlighted the potential of these tools to strengthen customer loyalty and drive growth in a competitive market. However, small firms may face challenges such as integration costs, data security concerns and the need for staff training.

The company provides support and resources to ease adoption and help businesses customise the technology to their needs. Using AI responsibly allows small businesses to gain a valuable edge in an increasingly digital economy.

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