Digital business models Archives | Page 367 of 569

Nigeria launches AI Scaling Hub with Gates Foundation

In partnership with the Gates Foundation, Nigeria has launched the Nigeria Artificial Intelligence Scaling Hub, backed by a funding commitment of up to $7.5 million over three years.

Announced during a signing ceremony in Abuja, the initiative will focus on responsibly scaling AI solutions across healthcare, agriculture, and education.

The AI Scaling Hub aims to unite government agencies, tech firms, academia, and development partners to support the nationwide deployment of proven AI innovations.

Rather than developing isolated pilot projects, the hub intends to build a collaborative system that encourages mature AI tools to be applied widely.

The Ministry of Communications, Innovation and Digital Economy stated that the move aligns with Nigeria’s draft National AI Strategy and broader technology agenda.

Minister Bosun Tijani said the hub would help turn local AI concepts into real-world results by offering innovators mentorship, resources, and support.

The Gates Foundation echoed the sentiment, with Nigeria Country Director Uche Amaonwu stressing the importance of ensuring AI benefits reach underserved communities.

The project also involves Lagos Business School and is expected to bolster Nigeria’s leadership in ethical AI adoption across Africa.

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Cyber attack hits Lee Enterprises staff data

Thousands of current and former employees at Lee Enterprises have had their data exposed following a cyberattack earlier this year.

Hackers accessed to the company’s systems in early February, compromising sensitive information such as names and Social Security numbers before the breach was contained the same day.

Although the media firm, which operates over 70 newspapers across 26 US states, swiftly secured its networks, a three-month investigation involving external cybersecurity experts revealed that attackers accessed databases containing employee details.

The breach potentially affects around 40,000 individuals — far more than the company’s 4,500 current staff — indicating that past employees were also impacted.

The stolen data could be used for identity theft, fraud or phishing attempts. Criminals may even impersonate affected employees to infiltrate deeper into company systems and extract more valuable information.

Lee Enterprises has notified those impacted and filed relevant disclosures with authorities, including the Maine Attorney General’s Office.

Headquartered in Iowa, Lee Enterprises draws over 200 million monthly online page views and generated over $611 million in revenue in 2024. The incident underscores the ongoing vulnerability of media organisations to cyber threats, especially when personal employee data is involved.

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Eminem sues Meta over copyright violations

Eminem has filed a major lawsuit against Meta, accusing the tech giant of knowingly enabling widespread copyright infringement across its platforms. The rapper’s publishing company, Eight Mile Style, is seeking £80.6 million in damages, claiming 243 of his songs were used without authorisation.

The lawsuit argues that Meta, which owns Facebook, Instagram and WhatsApp, allowed tools such as Original Audio and Reels to encourage unauthorised reproduction and use of Eminem’s music.

The filing claims it occurred without proper licensing or attribution, significantly diminishing the value of his copyrights.

Eminem’s legal team contends that Meta profited from the infringement instead of ensuring his works were protected. If a settlement cannot be reached, the artist is demanding the maximum statutory damages — $150,000 per song — which would amount to over $109 million.

Meta has faced similar lawsuits before, including a high-profile case in 2022 brought by Epidemic Sound, which alleged the unauthorised use of thousands of its tracks. The latest claim adds to growing pressure on social media platforms to address copyright violations more effectively.

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Trump-linked firm pushes for spot Bitcoin ETF

Trump Media’s partner, Yorkville America Digital, has lodged an application for a spot Bitcoin ETF, joining an increasingly crowded market of crypto investment products. The proposal, submitted on 3 June, outlines an ETF that would directly track Bitcoin’s price.

Foris DAX Trust Company, part of Crypto.com, has been listed as the fund’s proposed custodian, though no ticker or management fee was disclosed.

The application now awaits a response from the United States Securities and Exchange Commission, which may arrive within 45 days. However, under current regulations, the agency has until 29 January 2026 to make a final decision.

Yorkville must also file further documentation detailing the fund’s structure and associated risks.

Although President Donald Trump remains a key stakeholder in Trump Media & Technology Group (TMTG), his holdings are placed in a trust managed by his son. The ETF documents omit Trump’s name, though political ties may still draw aligned investors.

With 11 spot Bitcoin ETFs already in the market, a Trump-affiliated offering adds another layer to the intersection between politics and the crypto sector.

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Bing rolls out Sora powered video maker

Microsoft has launched a new feature in its Bing app called Bing Video Creator, allowing users to generate videos using text prompts. That tool leverages OpenAI’s advanced Sora model, marking the first time Sora is available for free to the public, as it was previously restricted to paying OpenAI customers.

However, the feature is currently limited to the Bing mobile app and is not yet accessible on desktop. To use the service, users must be signed into a Microsoft account.

Initially, they can create up to 10 videos for free; after that, each video costs 100 Microsoft Rewards points, which can be earned by searching with Bing or shopping in the Microsoft Store. For instance, users get five points for each Bing search on a PC, up to 150 points daily.

Each video is limited to five seconds and must be generated in vertical 9:16 format, a layout ideal for social media platforms like TikTok and Instagram. Users can generate up to three clips at a time.

Although labelled ‘fast’ mode, the generation process may still take hours. Microsoft says support for horizontal formats is on the way.

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Sam Altman says AI will soon solve complex business problems

OpenAI CEO Sam Altman believ e s AI is on the verge of helping humans make genuine discoveries and solve complex business problems.

Speaking at the Snowflake Summit 2025, Altman likened today’s AI agents to junior employees, saying they increasingly take on tasks and improve through iteration.

He predicted that by next year, AI agents could contribute to uncovering new knowledge and providing non-trivial business solutions.

His comments come amid a growing shift in the labour market, with firms like Shopify and Duolingo replacing human roles with AI systems to cut costs and increase efficiency.

Recent data shows a 19% drop in AI-performable tasks in online job postings over the last three years. Roles in IT and database administration have seen hiring reductions of over 30%, highlighting how AI is actively reshaping employment.

Altman also highlighted OpenAI’s latest tools, such as Codex and GPT-4.5, designed to handle increasingly sophisticated tasks like coding and software integration.

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Microsoft lets European users silence Edge prompts

Microsoft is extending its Digital Markets Act compliance measures by further loosening Windows’ grip on its in-house apps across the European Economic Area.

Users can now uninstall the Microsoft Store and will no longer face Edge pop-ups unless they launch the browser themselves.

Edge version 137.0.3296.52, released on 29 May, activates the changes immediately in the region. Choosing an alternative browser such as Chrome or Firefox now pins it to the taskbar by default and automatically handles a wider range of link and file types, including ftp and svg.

Wider deployment across Windows 10 and 11 is scheduled for July. Microsoft says Store-delivered apps will keep receiving updates even if the storefront is removed, and it can be restored at any time.

Bing, Widgets and the Lock Screen will also respect the new default browser once early June updates arrive.

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Customer data stolen in cyber attacks on Cartier and North Face

Fashion brand The North Face and luxury jeweller Cartier have confirmed recent cyber attacks that exposed customer data, including names and email addresses.

Neither company reported breaches of financial or password information.

North Face identified the attack as a credential stuffing attempt, where previously stolen passwords are used to break into other accounts.

Affected customers are being advised to change their login details, while the company’s owner, VF Corporation, continues recovering from an earlier incident.

Cartier said the breach allowed brief access to limited client data but insisted that it quickly secured its systems.

Retailers such as Adidas, Victoria’s Secret, Harrods, and M&S have all been hit in recent months, prompting warnings that the industry remains an attractive target for cyber criminals.

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AI to take over all Meta ads under new plan

Meta is preparing to transform digital advertising on its platforms, with reports indicating that by 2026, all adverts on Facebook and Instagram could be fully created and targeted using AI.

The company’s vision would see AI tools take over the entire process—from ad generation to audience selection—requiring advertisers to provide only a product image and budget.

Since introducing generative AI features for advertisers in May 2023, Meta has continued to expand its automation capabilities. Currently, AI plays a major role in targeting ads across Meta’s platforms.

Under the new system, Meta’s AI will go several steps further by generating text, visuals, and video, as well as optimising ad delivery for the most suitable audience.

The initiative is aligned with CEO Mark Zuckerberg’s broader vision of AI-led automation, especially within advertising—Meta’s financial backbone, which accounted for over 97% of the company’s revenue last year.

Speaking at Meta’s annual shareholder meeting, Zuckerberg outlined a future where businesses simply define their marketing goal and budget, link a payment method, and allow Meta’s AI to handle the rest.

The company is also developing real-time personalisation tools. These will allow the same ad to appear differently depending on a user’s location or context—for example, showing a car in snowy terrain to one user, while another might see it in an urban setting.

Meta is also exploring integration with third-party AI models such as DALL·E and Midjourney to further enhance creative capabilities.

This move follows similar developments by rivals like Google, which recently launched its Veo video generation model. With AI continuing to reshape the advertising landscape, Meta is betting on full automation as the next frontier in digital marketing.

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Crypto adoption rises in Latin America as financial pressure grows

Latin Americans are turning to crypto not for speculation, but to escape inflation, transfer funds abroad, and bypass strict financial systems. Decades of economic instability have eroded trust in traditional banks, pushing people towards digital alternatives.

Major firms such as Binance and Mercado Pago are expanding services to meet this demand.

Binance Pay now integrates with Brazil’s Pix payment system, allowing seamless crypto-to-fiat transactions. Mercado Pago has applied for a digital banking licence in Argentina to offer more financial services, including crypto, within a regulated framework.

In countries like Argentina and Mexico, stablecoins support everyday transactions and remittances. Bitcoin use is growing across the region, especially where banking access is limited.

Banks are under pressure to evolve. Some, like Brazil’s BTG Pactual, are launching their own blockchain tools. As demand surges, crypto continues reshaping Latin America’s financial future.

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