Digital business models Archives | Page 445 of 571

Central bank of Russia opens path for wealthy to invest in crypto

Russia’s central bank has proposed a regulatory framework that would permit wealthy individuals to invest in cryptocurrencies, under a new ‘experimental’ regime for ‘specially qualified’ investors.

This initiative marks a significant shift in Russia’s approach to crypto assets, as the country has slowly relaxed its strong opposition to cryptocurrencies.

The central bank’s proposal would allow individuals whose investments exceed 100 million roubles or whose annual income surpasses 50 million roubles to participate in crypto trading.

While the proposal seeks to increase transparency within the cryptocurrency market, it also highlights the risks involved, reminding investors of the potential for financial losses.

The new regime would last for three years, providing a controlled environment for crypto investments. However, cryptocurrencies will still be banned as a form of payment in Russia, maintaining a cautious approach to their full integration into the economy.

This proposal follows a broader trend of easing cryptocurrency restrictions, particularly after a law was passed last year allowing businesses to use crypto in international trade.

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Apple and Google face scrutiny over browser competition

Britain’s Competition and Markets Authority (CMA) has concluded that the mobile browser market, led by Apple and Google, is not functioning effectively for consumers and businesses. The findings support the regulator’s decision to launch an investigation into the sector earlier this year.

Concerns are largely focused on Apple’s policies regarding internet access through its Safari browser, which dominates its devices with an 88% market share. Google’s Chrome browser holds a 77% share on Android devices.

The UK CMA’s independent inquiry group suggested that if Apple and Google are found to have ‘strategic market status’ (SMS), regulatory interventions may be necessary to encourage competition. These could include measures allowing rival browsers to introduce new features.

Apple has defended its approach, arguing that proposed remedies could undermine security and user experience, while Google highlighted Android’s openness in fostering competition and innovation.

The investigation forms part of a broader effort to assess competition in mobile ecosystems, with final decisions expected later this year.

The inquiry group’s chair, Margot Daly, stated that limited competition between mobile browsers is stifling innovation, reinforcing the need for regulatory action.

The CMA’s ongoing probe into the dominance of Apple and Google aims to ensure a fairer and more competitive digital marketplace.

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AI-driven robotics set for growth with Google’s latest models

Google has introduced two new AI models designed specifically for robotics, building on its Gemini 2.0 technology. The launch aims to support the rapidly advancing robotics industry, which is increasingly benefiting from AI improvements.

The first model, Gemini Robotics, enables robots to generate physical actions as outputs, while the second, Gemini Robotics-ER, enhances spatial awareness and reasoning abilities for developers.

The move follows a significant AI breakthrough by robotics startup Figure AI, which recently ended its collaboration with OpenAI.

Google has tested its Gemini Robotics model on its bi-arm robotics platform, ALOHA 2, and believes the technology can be adapted for complex applications, such as Apptronik’s Apollo robot.

Investment in robotics is accelerating, with Apptronik securing $350 million in funding last month, including backing from Google.

Google’s AI models are designed for various types of robots, from humanoid machines to industrial units used in factories and warehouses.

Industry experts believe AI-focused robotics models will help startups reduce costs and bring products to market faster. Google has a long history in robotics, having acquired Boston Dynamics in 2013 before selling it to SoftBank four years later.

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AI demand drives record power sector deals

The US power industry is experiencing a surge in mergers and acquisitions (M&A) as record demand for electricity, particularly from AI-driven data centres, fuels heightened interest in power generation assets.

Industry experts predict 2025 will be a bumper year for such deals, with assets in high demand due to massive projections for future consumption. Notable transactions, such as Constellation Energy’s $16.4 billion acquisition of Calpine, highlight the sector’s boom in early 2025.

Private equity firms, pension funds, and other institutional investors are rapidly deploying capital into the power sector, with over $330 billion in capital waiting to be invested in infrastructure.

Many of these firms are targeting not only operational companies but also firms that manufacture energy equipment, positioning themselves to profit from the ongoing expansion of the power grid to meet AI-related demand.

While the US M&A frenzy contrasts with a broader slowdown in the market, the momentum in the power sector is expected to continue.

Challenges such as material shortages and regulatory uncertainties, particularly surrounding tariffs on essential materials, may impact future projects.

However, the increasing value of power infrastructure makes these challenges more manageable for investors keen to tap into the growing market.

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EU draft AI code faces industry pushback

The tech industry remains concerned about a newly released draft of the Code of Practice on General-Purpose Artificial Intelligence (GPAI), which aims to help AI providers comply with the EU‘s AI Act.

The proposed rules, which cover transparency, copyright, risk assessment, and mitigation, have sparked significant debate, especially among copyright holders and publishers.

Industry representatives argue that the draft still presents serious issues, particularly regarding copyright obligations and external risk assessments, which they believe could hinder innovation.

Tech lobby groups, such as the CCIA and DOT Europe, have expressed dissatisfaction with the latest draft, highlighting that it continues to impose burdensome requirements beyond the scope of the original AI Act.

Notably, the mandatory third-party risk assessments both before and after deployment remain a point of contention. Despite some improvements in the new version, these provisions are seen as unnecessary and potentially damaging to the industry.

Copyright concerns remain central, with organisations like News Media Europe warning that the draft still fails to respect copyright law. They argue that AI companies should not be merely expected to make ‘best efforts’ not to use content without proper authorisation.

Additionally, the draft is criticised for failing to fully address fundamental rights risks, which, according to experts, should be a primary concern for AI model providers.

The draft is open for feedback until 30 March, with the final version expected to be released in May. However, the European Commission’s ability to formalise the Code under the AI Act, which comes into full effect in 2027, remains uncertain.

Meanwhile, the issue of copyright and AI is also being closely examined by the European Parliament.

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Intel appoints new CEO to compete in AI chip market

Intel has appointed tech industry veteran Lip-Bu Tan as its chief executive, aiming to revitalise the struggling chipmaker as it falls behind in the AI race.

Tan, set to take over next week, told employees that overcoming Intel’s challenges would not be easy but reaffirmed his commitment to an engineering-first approach.

Following the announcement, Intel’s shares surged by more than 10 per cent in after-market trading.

Once a dominant force in the semiconductor industry, Intel has been outpaced by Taiwan Semiconductor Manufacturing Co (TSMC) and Samsung Electronics, which lead in made-to-order chip production.

It also lags behind Nvidia, which has emerged as the top AI chip provider. Tan replaces Pat Gelsinger, who was ousted last year after the board lost confidence in his turnaround efforts, which included cutting 15,000 jobs and delaying chipmaking projects.

Tan, previously head of Cadence Design Systems, pledged to restore Intel’s reputation by taking calculated risks to outmanoeuvre competitors.

He intends to continue the company’s plan to manufacture chips for other firms, directly challenging TSMC. However, analysts remain cautious, questioning whether Intel will split its foundry and chip design businesses or prove its ability to deliver cutting-edge technology.

Intel also faces a growing battle in AI, where Nvidia dominates the data centre chip market. Analysts warn that without a compelling AI strategy, Intel could struggle to regain investor confidence.

Tan, however, remains optimistic, vowing to transform Intel into a world-class chipmaker while ensuring customer satisfaction.

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Google enhances Gemini AI with smarter personalisation

Google has announced an update to its Gemini AI assistant, enhancing personalisation to better anticipate user needs and deliver responses that feel more like those of a personal assistant.

The feature, initially available on desktop before rolling out to mobile, allows Gemini to offer tailored recommendations, such as travel ideas, based on search history and, in the future, data from apps like Photos and YouTube.

Users can opt in to the new personalisation features, sharing details like dietary preferences or past conversations to refine responses further.

Google assures that users must explicitly grant permission for Gemini to access search history and other services, and they can disconnect at any time.

However, this level of contextual awareness could give Google an advantage over competitors like ChatGPT by leveraging its vast ecosystem of user data.

The update signals a shift in how users interact with AI, bringing it closer to traditional search while raising questions for publishers and SEO professionals.

As Gemini increasingly provides direct, personalised answers, it may reduce the need for users to visit external websites. While currently experimental, the potential for Google to push broader adoption of AI-driven personalisation could reshape digital content discovery and search behaviour in the future.

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Major companies back global nuclear energy expansion

Several major companies, including Amazon and Google, have pledged to support the goal of tripling the world’s nuclear energy capacity by 2050.

However, this commitment was made during the CERAWeek conference in Houston, with other signatories such as shale company Occidental and Japanese firm IHI Corp. The World Nuclear Association (WNA) facilitated the pledge and expects more industries, including maritime and aviation, to join in the coming months.

Nuclear energy currently accounts for 9% of the world’s electricity, produced by 439 power reactors. As large tech companies like Amazon and Google pursue nuclear projects, including small modular reactors, the demand for uranium, essential for nuclear technology, has surged.

However, uranium supply remains constrained, mainly coming from Kazakhstan, Canada, and Australia.

With high demand, uranium prices reached a 16-year peak last year, driven by supply disruptions during the COVID-19 lockdowns.

Despite this, global nuclear power generation continues to be concentrated in just a few countries, with 411 reactors in operation as of early 2025, providing a combined 371 gigawatts of capacity.

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Indian police arrest Garantex administrator wanted by US

Indian authorities have arrested Aleksej Besciokov, an administrator of the Russian cryptocurrency exchange Garantex, at the request of the US.

Besciokov, a Russian resident and Lithuanian national, was taken into custody in Kerala on charges of money laundering and violating sanctions. The Central Bureau of Investigation (CBI) said he was planning to flee India, and Washington is expected to seek his extradition.

The arrest follows a joint operation by the US, Germany, and Finland to dismantle Garantex’s online infrastructure.

The exchange, under US sanctions since 2022, has processed at least $96 billion in cryptocurrency transactions since 2019. The US Justice Department recently charged two administrators, including Besciokov, with operating an unlicensed money-transmitting business.

Experts warn that sanctioned exchanges often attempt to bypass restrictions by setting up new entities. Blockchain research firm TRM Labs called the Garantex takedown a significant step in combating illicit finance but emphasised the need for continued vigilance against evasion tactics.

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Singapore fraud case involves $390 million in transactions

Singapore prosecutors revealed on Thursday that a fraud case involving local firms accused of illegally supplying US servers to Malaysia involves transactions worth $390 million.

Three men—Singaporeans Aaron Woon and Alan Wei, along with Chinese national Li Ming—have been charged with deceiving tech giants Dell and Super Micro by misrepresenting the servers’ final destination.

The case has been linked to Chinese AI firm DeepSeek, which is under US scrutiny over the potential use of banned Nvidia chips.

While Singapore authorities confirmed the servers may have contained Nvidia components, they did not specify whether these were the restricted high-end semiconductors subject to US export controls.

Singapore’s Law and Home Affairs Minister K Shanmugam declined to comment on the alleged connection.

Prosecutors claim Wei paid himself tens of millions in dividends, while Woon received a multimillion-dollar bonus. Singaporean authorities are investigating a wider network of 22 individuals and companies suspected of similar fraudulent practices, with six additional arrests made.

The accused are set to reappear in court on May 2, while Malaysian authorities are also probing potential legal violations.

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