Digital cooperation

Chinese hedge funds boost AI for competitive edge

China’s hedge fund industry is undergoing a transformative shift, spurred by High-Flyer’s integration of AI in its trading strategies. The multi-billion-dollar fund not only uses AI to enhance its portfolio but also created DeepSeek, a game-changing LLM that has disrupted the dominance of Western AI firms like those in Silicon Valley.

The breakthrough has ignited an AI arms race among Chinese asset managers, including firms like Baiont Quant, Wizard Quant, and Mingshi Investment Management, as they rush to incorporate AI into their investment workflows.

AI-powered trading has gained momentum, with many hedge funds now using AI to process market data and generate trading signals based on investor risk profiles. As competition for “alpha” (outperformance) intensifies, the demand for AI talent is surging.

Companies like Wizard Quant and Mingshi are actively recruiting top AI engineers, and even mutual funds, such as China Merchants Fund, have adopted DeepSeek to boost their efficiency. The open-source model has democratised access to AI, lowering the entry barrier for smaller Chinese funds, which had previously been unable to compete with their Western counterparts due to high costs.

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Dapr integrates AI agent support for developers

Dapr, the open-source microservices runtime introduced by Microsoft in 2019, has added new capabilities to support AI agents, broadening its appeal to developers creating scalable distributed applications.

Initially designed to simplify microservice-based app development, Dapr’s new functionality builds on its existing concept of virtual actors, making it easier to incorporate AI agents into systems.

The newly launched Dapr Agents offer developers a framework to efficiently run AI agents at scale with statefulness, making it ideal for applications involving large language models (LLMs).

However, this update allows seamless integration with popular AI providers, such as AWS Bedrock, OpenAI, and Hugging Face. Developers also benefit from Dapr’s orchestration and resource-efficient model, ensuring agents can spin up quickly when needed and retain state after tasks are completed.

Dapr Agents currently support Python, with plans for .NET and other languages like Java and Go coming soon.

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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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Zhipu AI raises 500 million yuan amid rising competition

Chinese startup Zhipu AI has secured 500 million yuan (£54.8 million) in funding from the state-owned Huafa Group, following a separate 1 billion yuan capital raise earlier this month.

Huafa Group, a government-backed conglomerate based in Zhuhai, Guangdong province, announced its investment as Chinese cities compete to support AI firms, a sector seen as critical in Beijing’s technological rivalry with the US.

The funding comes amid increasing competition in China’s AI industry, particularly with Hangzhou-backed DeepSeek, whose large language models have gained attention for their cost-effectiveness and performance against Western alternatives.

Zhipu AI, established in 2019 and recognised as one of China’s ‘AI tigers,’ has received investments from major tech firms including Tencent, Meituan, and Xiaomi. The startup was valued at 20 billion yuan (£2.2 billion) in a funding round last July, according to business registration platform Qichacha.

With the new funding, Zhipu AI aims to enhance technological innovation and further develop its GLM foundation model.

However, the company faces challenges on the international stage, having been added to the US Commerce Department’s export control list in January, restricting its access to American components.

Despite these hurdles, China continues to bolster its AI sector as it seeks to establish a leading position in global artificial intelligence development.

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Mark Cuban: AI is a tool, not the answer

Mark Cuban, the tech entrepreneur and investor, spoke at the SXSW conference, where he highlighted the importance of AI for small businesses. He stressed that while AI can be a valuable tool, it should never be seen as the ultimate answer to business success. Cuban explained that AI can help entrepreneurs by making it easier to start and grow businesses, answering questions, and aiding in tasks like research, emails, and sales calls. However, he cautioned against over-relying on AI.

Cuban encouraged entrepreneurs to spend time learning about AI, pointing out how much easier it is to start a business today compared to the past, thanks to the availability of AI tools and internet access. He acknowledged that AI can make mistakes and isn’t perfect, but noted that human experts can also be wrong. In creative fields, Cuban argued that while AI can help with certain tasks like video creation, it’s not a substitute for human creativity, especially when it comes to things like writing scripts or generating quality art.

The tech mogul highlighted that AI should amplify human skills, not replace them. He warned that those who neglect to use AI might find themselves at a disadvantage, as competitors who utilise AI will have the edge.

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Synapsia signs major contract for AI-powered urban solutions in Abu Dhabi

Italy’s Synapsia has signed a $2.5 billion agreement with UAE’s Bold Technologies to provide AI-powered city management solutions for Abu Dhabi.

The partnership aims to enhance urban infrastructure, transportation, and emergency response through AI. Payments will be made in five instalments over 18 months, subject to project milestones.

The initiative, described as a ‘cognitive city project,’ will use AI to improve efficiency by integrating real-time data across various sectors.

As part of the deal, the companies will establish a new entity, My Aion Inc., which is expected to launch an initial public offering on the Abu Dhabi stock exchange between 2027 and 2029.

Italy has been strengthening economic ties with Gulf nations under Prime Minister Giorgia Meloni, with the UAE pledging to invest $40 billion in Italy.

The agreement also highlights the UAE’s ambition to position itself as a leader in AI, competing with regional players such as Qatar and Saudi Arabia.

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AI will enhance, not replace, programmers, says IBM CEO

At the SXSW conference, IBM CEO Arvind Krishna addressed two key topics: global trade and the role of artificial intelligence in programming. Krishna expressed his belief that global trade remains vital for economic growth, citing the historical correlation between increased trade and GDP growth.

He also argued that embracing international talent through policies supporting immigration would benefit the US, allowing it to remain competitive in the global market.

Turning to AI, Krishna disagreed with predictions that AI would soon take over coding entirely. Instead, he believes AI will increase programmer productivity by assisting with simpler tasks, allowing developers to focus on more complex problems.

He argued that AI could boost the output of existing teams, helping companies gain market share by enabling faster production and more efficient workflows.

While AI may revolutionise some aspects of work, Krishna maintained that it won’t replace human workers entirely. Drawing a parallel with the initial fears surrounding calculators and Photoshop, he described AI as a tool that enhances rather than replaces human expertise.

His comments come amid growing discussions about the future role of AI in various industries, including programming. Krishna also acknowledged the ongoing challenges in AI, such as intellectual property concerns and the need for energy-efficient models.

Krishna further stated that while AI would become cheaper and more accessible, it would not be the key to groundbreaking scientific discoveries. Instead, he emphasised the potential of quantum computing to accelerate innovation, with IBM’s ongoing investments in the technology.

His remarks highlighted both the promise and the limitations of AI, positioning it as an important tool in advancing industries but not a solution to all challenges.

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Elea introduces AI-powered solution for pathology labs

Elea, a Hamburg-based startup, is harnessing the power of AI to tackle inefficiencies in healthcare, starting with pathology labs.

The company’s AI operating system replaces outdated systems, offering a voice-powered solution that automates tasks such as report transcription and data handling.

Elea’s tool promises to significantly reduce the time it takes for labs to generate reports, with initial results showing a reduction from weeks to just a few days.

The AI system is designed to integrate seamlessly into existing lab processes, acting as an all-in-one solution that coordinates tasks traditionally managed by separate systems.

Elea’s cloud-based platform uses speech-to-text and text-to-structure technologies to automate everything from report writing to handling laboratory equipment, streamlining operations and reducing human error.

Founded in 2024, Elea has already secured a partnership with a major German hospital group, and it plans to expand internationally, particularly into the US The company recently raised €4 million in seed funding to support its growth.

Elea is betting on a gradual scaling strategy, aiming to improve productivity in pathology labs before potentially expanding its AI tools to other areas of healthcare, such as radiology.

Despite potential challenges, including accuracy concerns and data privacy, Elea is confident in its ability to revolutionise lab work.

By focusing on operational workflows, the German company hopes to improve both the speed and reliability of healthcare services, offering a glimpse into the future of AI in the medical field.

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Tech giants join forces to promote global standards for data provenance and AI transparency

OASIS Open, a global open-source and standards organisation, and the Data & Trust Alliance, a consortium focused on responsible data and AI practices, have announced the formation of the OASIS Data Provenance Standards Technical Committee (DPS TC).

The committee will build upon version 1.0.0 of the Data Provenance Standards developed by the Data & Trust Alliance’s cross-industry Working Group, expanding industry participation to establish formal technical standards for data transparency, accountability, and trust. Founding sponsors include Cisco, IBM, Intel, Microsoft, and Red Hat.

As AI adoption accelerates, organisations face increasing challenges in verifying data sources, ensuring compliance, and maintaining data integrity. The DPS TC aims to create a standardised metadata framework that tracks data lineage, transformations, and compliance across various platforms. This initiative will help organisations improve governance practices, mitigate risks related to data privacy and intellectual property, and enhance transparency in AI-driven applications.

The committee’s work will focus on:

  • Standardised data lineage tracking: Establishing clear and consistent methods for documenting data origins and transformations.
  • Compliance and risk management: Supporting organisations in meeting regulatory and ethical standards for data use.
  • Interoperability across platforms: Ensuring metadata models can be applied consistently across different databases, tables, and data pipelines.
  • Transparency for data users: Providing businesses and individuals with visibility into how data is sourced and managed.

IBM has already tested an early version of the standards, integrating them into its governance framework. According to Christina Montgomery, Chief Privacy and Trust Officer at IBM, this resulted in measurable improvements in data diligence and management processes.

The DPS TC will hold its first meeting on 8 April 2025, with participation open to organisations, industry leaders, and experts through OASIS membership. The committee aims to refine existing standards and develop implementation tools, with a goal of introducing broadly applicable metadata quality metrics within the next 12 to 18 months.

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Reliance Jio and SpaceX partner for Starlink in India

Mukesh Ambani’s Reliance Jio has struck a deal with Elon Musk’s SpaceX to bring Starlink satellite internet services to India, marking a surprising turn after months of rivalry over spectrum allocation.

Under the agreement, Jio will stock Starlink equipment in its retail stores, giving the US company direct access to thousands of outlets across the country.

Move like this one comes after New Delhi sided with Musk’s preferred method of spectrum allocation, despite Ambani’s earlier concerns that Starlink could dominate India’s telecom sector.

The deal follows a similar partnership between Starlink and Bharti Airtel, India’s second-largest telecom provider, both of which depend on government approval for operations to begin. While Airtel’s shares dipped slightly after the Jio announcement, Reliance Industries saw a marginal rise in trading.

Starlink, which has been awaiting licenses since 2022 due to national security concerns, is using the agreement as a low-cost entry into India’s fast-growing satellite internet market, expected to reach $1.9 billion by 2030.

For Musk, the stakes in India go beyond Starlink, as he recently secured a deal to open Tesla’s first showroom in the country.

However, high tariffs on imported electric vehicles remain a challenge. Meanwhile, Jio and SpaceX are also exploring other areas of cooperation, while Jio continues its own satellite broadband plans with Luxembourg-based SES.

Despite past disputes, the partnership signals a shift from competition to collaboration in India’s evolving telecom landscape.

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