Digital business models

Google launches Simplify to decode complex text

Google has introduced a new iOS feature named Simplify, designed to make technical language more accessible. Powered by the Gemini large language models, the tool rewrites complex text, such as that found in legal documents or medical reports, into clear and understandable language.

To test its effectiveness, Google conducted a study involving over 4,500 people and 31 text samples. Results showed a 4 per cent improvement in overall comprehension and a 15 per cent increase for medical texts among users reading Simplify-processed content.

These users also reported feeling more confident and found the material easier to understand. However, the study has limitations, including its reliance on online participants and multiple-choice tests that may not reflect deep understanding.

At present, Simplify is only available on iOS, with no official timeline for an Android release. Still, given the app’s presence on Android devices by default, a wider rollout may be on the horizon.

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Cypriots worry AI threatens artists and culture

A new Eurobarometer survey has revealed that a significant majority of Cypriots are worried about the impact of AI on the cultural sector and the livelihoods of artists. Eight in ten believe that generative AI poses a threat to employment in the arts, a figure higher than the EU average of 73 per cent.

Despite these concerns, only half of Cypriots say they can distinguish between AI-generated and human-made artworks. The survey also highlights deeper cultural challenges in Cyprus. Only 23 per cent of respondents believe artists are paid fairly, compared to 51 per cent across the EU.

When asked about EU priorities in cultural cooperation, Cypriots pointed to protecting cultural heritage, fair pay for artists, reskilling cultural workers, improving access to the arts, and boosting funding for creative sectors.

Cypriots overwhelmingly value culture’s role in Europe’s future, with 91 per cent endorsing its importance. However, just 63 per cent believe artists in Cyprus enjoy freedom from government censorship, and only 59 per cent feel protected from other forms of suppression, both figures well below EU averages.

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Wiley and Perplexity partner to deliver smarter study tools

Perplexity has announced a major partnership with global academic publisher Wiley to integrate its answer engine with Wiley’s extensive library of scientific, technical, and medical learning materials.

The collaboration is designed to streamline access to trusted curriculum content, delivering a more engaging and efficient learning experience for students and educators alike.

Through an institution’s Enterprise Pro subscription, students can now access assigned Wiley materials directly within Perplexity.

This removes the need to switch between platforms, enabling students to ask questions about textbook content, receive tailored explanations, and explore real-time examples from across the web—all in one place.

The integration supports Gen Z learning preferences by offering features such as custom study guides, level-appropriate explanations, and context that links core concepts to real-world applications.

Educators will benefit from the ability to create lesson plans, tailor curriculum to current events, and generate customised learning materials with minimal effort. Institutions gain a competitive edge in education technology, while improving resource efficiency and academic outcomes.

The partnership also promotes critical AI literacy—a growing priority in classrooms. By offering students a structured environment in which to interact with AI tools and academic content, the integration supports responsible use of AI.

It emphasises information quality, proper attribution, and encourages students to develop essential critical thinking skills. Administrators interested in integrating Perplexity with Wiley can contact their Wiley representative to authorise the connection.

Once enabled, students gain seamless access to academic materials directly within the Perplexity platform.

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Stripe launches AI payments model and stablecoin accounts

Fintech leader Stripe has introduced what it calls the world’s first AI foundation model designed specifically for payments. Trained on billions of real transactions, the model captures fine-grained signals that traditional fraud detection systems often miss.

Stripe claims the new system has already improved fraud detection for large enterprises by 64 percent, and it will now be rolled out across its full payments suite.

Alongside its AI launch, Stripe announced new stablecoin-based money management tools, following its $1.1 billion acquisition of crypto platform Bridge in 2023.

Businesses in 101 countries can now open financial accounts in stablecoins, hold balances, receive funds across crypto and fiat rails, and send stablecoins globally.

Stripe said the new accounts will especially benefit entrepreneurs in countries with unstable currencies by providing inflation protection and easier access to international markets.

The company also confirmed deeper ties with major partners. Nvidia has migrated its entire subscriber base to Stripe’s billing infrastructure, while PepsiCo is expanding its use of Stripe’s platform to modernise payments across its United States operations.

Meanwhile, Bridge and Visa have launched the first global debit card linked to stablecoin wallets, further embedding crypto capabilities into traditional finance systems.

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Changpeng Zhao applies for presidential pardon after legal settlement

Changpeng Zhao, founder and former CEO of Binance, has confirmed he formally applied for a presidential pardon after previously denying media reports about it.

In an interview on Farokh Radio on 6 May, Zhao revealed his legal team filed the request following intense media speculation. He mentioned that after reports from Bloomberg and The Wall Street Journal linked him to a pardon, he decided to officially apply.

Zhao cited US President Donald Trump’s pardons of three BitMEX executives as a key motivator behind his decision. In November 2023, Zhao pleaded guilty to violating the Bank Secrecy Act.

It resulted in Binance paying a $4.3 billion fine, with Zhao personally contributing $50 million. He was sentenced to four months in prison and barred from holding a management position at Binance.

Though a pardon would not erase his conviction, it could potentially clear the way for Zhao to return to leadership at Binance.US. However, Zhao, who stepped down as CEO and served his sentence, has said he has no intention of returning to the company’s helm.

He now focuses on advisory roles, helping countries like Pakistan and Kyrgyzstan with crypto regulation.

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Insider trades suspected before MELANIA token launch

A Financial Times investigation has revealed that select wallets bought millions of dollars’ worth of the MELANIA memecoin just minutes before its public launch. These early trades generated nearly $100 million in profits, raising concerns over transparency and potential insider activity.

The MELANIA token, launched on 19 January 2025, was promoted by Melania Trump only two days after the Official Trump token debuted.

Both Solana-based memecoins have faced heavy criticism for lacking utility and appearing more like speculative assets. One wallet alone made over $39 million within 12 hours of launch, having invested just before the token was publicly announced.

Despite the apparent unfair advantage, such actions remain legal under current US regulations, as memecoins are not classified as securities. Still, blockchain analysts have linked MELANIA’s team to other memecoin sniping and pump-and-dump schemes.

Meanwhile, the Official Trump token, run by a separate team, has generated over $1.1 billion in profits, primarily benefiting a small group of large holders.

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Meta and Ray-Ban launch smart glasses in the UAE

Meta Platforms, Inc. and EssilorLuxottica have officially launched the Ray-Ban Meta smart glasses in the United Arab Emirates, unveiling the new tech-forward eyewear during an exclusive event on May 7 at Gitano Beach Club.

The collection will be available across all Ray-Ban stores and partner opticians in the UAE starting May 12.

Ray-Ban Meta glasses combine stylish design with cutting-edge technology, offering users hands-free photo and video capture, discreet audio playback through open-ear speakers, and access to built-in Meta AI.

The glasses allow for real-time translations—including sign language—voice-activated search, and contextual AR experiences such as landmark information, menu translations, or recipe suggestions based on visible items.

A standout feature is the livestreaming function, enabling users to broadcast directly to Instagram Live or Facebook Live for up to 30 minutes from their own point of view.

Users can toggle between the glasses and their phone camera, creating immersive, real-time content. The MetaAI companion app (iOS and Android) also supports easy content import, editing, and special effects.

The glasses include five microphones and upgraded audio hardware for clearer sound and ambient awareness.

Live language translation support—covering Spanish, French, Italian, and English—even while offline—is expected to launch in the UAE later this year. Software updates will continue enhancing the glasses’ AI capabilities over time.

Offered in styles such as Wayfarer, Wayfarer Large, and the universally fitting Skyler, Ray-Ban Meta glasses are available with prescription, sun, clear, polarised, or Transitions® lenses.

Prices start at AED 1,330 and include a sleek charging case. The glasses support pairing with multiple devices and offer a blend of fashion, function, and future-ready innovation.

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Apple turns to AI as Google loses ground in Safari searches

Google is seeing a historic dip in search traffic through Apple’s Safari browser, marking the first such decline ever, according to Apple’s Eddy Cue.

The shift comes as users increasingly turn to AI-powered search tools like ChatGPT, Perplexity and Microsoft Copilot, which offer direct and conversational responses without the need to browse traditional websites.

In response, Apple is now exploring a major revamp of Safari to better integrate AI-driven search capabilities.

AI is gradually reshaping how people interact with information online, posing a serious challenge to Google’s long-standing dominance. Cue noted that although current AI tools are not perfect, they are rapidly improving and may soon offer compelling alternatives to traditional search engines.

Apple currently supports ChatGPT within Siri and may soon include Google’s Gemini AI, as it continues to diversify the digital search options available on its platforms.

The shift is especially significant given Google’s $20 billion annual deal to remain Safari’s default search engine. The US justice department is scrutinising these types of agreements in its case against Google’s parent company, Alphabet, suggesting such arrangements limit genuine competition.

Cue stressed that AI has opened the door to new players in the search market and that true competition only arises when technological disruption invites innovation.

As large language models grow more advanced, their appeal increases—despite occasional errors known as hallucinations.

AI tools offer richer, more intuitive user experiences, often skipping the step of clicking through to websites. While this threatens traffic for content providers, it also underscores a pivotal shift: AI is no longer just a feature—it is transforming how people seek and consume information.

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FTC says Amazon misused legal privilege to dodge scrutiny

Federal regulators have accused Amazon of deliberately concealing incriminating evidence in an ongoing antitrust case by abusing privilege claims. The Federal Trade Commission (FTC) said Amazon wrongly withheld nearly 70,000 documents, withdrawing 92% of its claims after a judge forced a re-review.

The FTC claims Amazon marked non-legal documents as privileged to keep them from scrutiny. Internal emails suggest staff were told to mislabel communications by including legal teams unnecessarily.

One email reportedly called former CEO Jeff Bezos the ‘chief dark arts officer,’ referring to questionable Prime subscription tactics.

The documents revealed issues such as widespread involuntary Prime sign-ups and efforts to manipulate search results in favour of Amazon’s products. Regulators said these practices show Amazon intended to hide evidence rather than make honest errors.

The FTC is now seeking a 90-day extension for discovery and wants Amazon to cover the additional legal costs. It claims the delay and concealment gave Amazon an unfair strategic advantage instead of allowing a level playing field.

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New EU regulation to track crypto transfers and ban privacy coins

The European Union is set to introduce new measures under its Anti-Money Laundering Regulation (AMLR) to track cryptocurrency transfers. The EU aims to gather data on both senders and recipients of funds, expanding transparency within crypto-asset service providers.

From 1 July 2027, cryptocurrency exchanges and custodial services will be prohibited from dealing with anonymous wallets and privacy coins. The regulation also mandates ‘intrusive checks’ for self-hosted wallets, requiring verification for transactions over €1,000.

However, this move has sparked concerns within the cryptocurrency industry, with critics arguing that it could limit privacy and push the sector into less transparent markets.

Monero developer Riccardo Spagni and other industry figures fear the regulations could drive privacy-focused firms to relocate to jurisdictions that support privacy rights.

They warn that the EU’s approach could hinder innovation and push parts of the crypto economy into the black market.

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