Digital business models Archives | Page 358 of 581

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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China pushes quantum computing towards industrial use

A Chinese startup has used quantum computing to improve breast cancer screening accuracy, highlighting how the technology could transform medical diagnostics—based in Hefei, Origin Quantum applied its superconducting quantum processor to analyse medical images faster and more precisely.

China is accelerating efforts to turn quantum research into industrial applications, with companies focusing on areas such as drug discovery, smart cities and finance. Government backing and national policy have driven rapid growth in the sector, with over 150 firms now active in quantum computing.

In addition to medical uses, quantum algorithms are being tested in autonomous parking, which has dramatically cut wait times. Banks and telecom firms have also begun adopting quantum solutions to improve operational efficiency in areas like staff scheduling.

The merging of quantum computing with AI is seen as the next significant step, with Origin Quantum recently fine-tuning a billion-parameter AI model on its quantum system. Experts expect the integration of these technologies to shift from labs to practical use in the next five years.

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Solana teams up with Kazakhstan to grow crypto startups

Solana has signed a Memorandum of Understanding with Kazakhstan’s Ministry to support the country’s growing crypto sector. The partnership aims to advance startups and improve developer education using the Solana blockchain.

The collaboration aims to promote the tokenisation of capital markets, enhancing the appeal of Kazakhstan’s Astana International Exchange (AIX) to global investors.

Solana Foundation leaders highlighted how blockchain technology could help AIX compete with major exchanges such as the NYSE and Nasdaq by storing most trading volume on-chain.

The announcement comes shortly after Kazakhstan launched the Solana Economic Zone, the first in Central Asia. Digital minister Zhaslan Madiyev called the initiative a step towards fostering web3 talent and advancing Kazakhstan’s digital economy.

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Tether CEO unveils offline password manager

Paolo Ardoino, CEO of Tether, has introduced PearPass, an open-source, offline password manager. The launch comes in response to the most significant credential breach on record, which exposed 16 billion passwords.

Ardoino criticised cloud storage, stating the time has come to abandon reliance on it for security.

The leaked data reportedly covers login details from major platforms like Apple, Meta, and Google, leaving billions vulnerable to identity theft and fraud. Experts have not yet identified the perpetrators but point to systemic flaws in cloud-based data protection.

PearPass is designed to operate entirely offline, storing credentials only on users’ devices without syncing to the internet or central servers. It aims to reduce the risks of mass hacking attempts targeting large cloud vaults.

The tool’s open-source nature allows transparency and encourages the adoption of safer, decentralised security methods.

Cybersecurity authorities urge users to change passwords immediately, enable multi-factor authentication, and monitor accounts closely.

As investigations proceed, PearPass’s launch renews the debate on personal data ownership and may set a new standard for password security.

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Bitcoin holds firm as tensions rise in the Gulf

Oil markets are on edge after US airstrikes hit three of Iran’s nuclear sites, raising fears of disruption to the Strait of Hormuz. The narrow passage is vital for about 20% of the world’s oil supply.

Any obstruction could drive crude prices up to $130 per barrel and intensify global inflation pressures.

Despite the joint strikes by the US and Israel, Brent crude remains stable for now, hovering near $72 per barrel. Traders are closely watching Iran’s next move and whether shipping through the Strait will be affected.

Bitcoin, in contrast, has shown remarkable resilience. Trading above $102,600, the leading cryptocurrency has not reacted to the military escalation, reinforcing its role as a safe-haven asset during geopolitical uncertainty.

With its fixed supply and decentralised structure, Bitcoin is increasingly being seen as a hedge against inflation and instability. Its steady price amid market anxiety highlights the growing confidence in crypto during global crises.

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