E-commerce and trade

Historic UK KNP transport firm collapses after ransomware attack

A 158‑year‑old UK transport firm, KNP Logistics, has collapsed after falling victim to a crippling ransomware attack. Hackers exploited a single weak password to infiltrate its systems and encrypted critical data, rendering the company inoperable.

Cybercriminals linked to the Akira gang locked out staff and demanded what experts believe could have been around £5 million, an amount KNP could not afford. The company ceased all operations, leaving approximately 700 employees without work.

The incident highlights how even historic companies with insurance and standard safeguards can be undone by basic cybersecurity failings. National Cyber Security Centre chief Richard Horne urged businesses to bolster defences, warning that attackers exploit the simplest vulnerabilities.

This case follows a string of high‑profile UK data breaches at firms like M&S, Harrods and Co‑op, signalling a growing wave of ransomware threats across industries. National Crime Agency data shows these attacks have nearly doubled recently.

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Coinbase brings perpetual futures to US users

Coinbase has launched perpetual futures trading for eligible users in the United States, marking a major step in the platform’s regulated offerings. Starting 21 July, traders can access nano Bitcoin (BTC-PERP) and nano Ether (ETH-PERP) perpetual futures via their Coinbase Financial Markets accounts.

The offering follows Coinbase’s approval to operate as a futures commission merchant under the Commodity Futures Trading Commission. Perpetual futures, accounting for nearly 90% of crypto derivatives volume, were previously inaccessible to US users due to regulatory constraints.

These contracts differ from traditional futures by offering five-year expiration terms and no monthly rollovers. Users can trade with up to 10x leverage and enjoy low fees from 0.02%.

While this boosts capital efficiency, it also increases potential risk, especially during volatile market conditions.

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ChatGPT evolves from chatbot to digital co-worker

OpenAI has launched a powerful multi-function agent inside ChatGPT, transforming the platform from a conversational AI into a dynamic digital assistant capable of executing multi-step tasks.

Rather than waiting for repeated commands, the agent acts independently — scheduling meetings, drafting emails, summarising documents, and managing workflows with minimal input.

The development marks a shift in how users interact with AI. Instead of merely assisting, ChatGPT now understands broader intent, remembers context, and completes tasks autonomously.

Professionals and individuals using ChatGPT online can now treat the system as a digital co-worker, helping automate complex tasks without bouncing between different tools.

The integration reflects OpenAI’s long-term vision of building AI that aligns with real-world needs. Compared to single-purpose tools like GPTZero or NoteGPT, the ChatGPT agent analyses, summarises, and initiates next steps.

It’s part of a broader trend, where AI is no longer just a support tool but a full productivity engine.

For businesses adopting ChatGPT professional accounts, the rollout offers immediate value. It reduces manual effort, streamlines enterprise operations, and adapts to user habits over time.

As AI continues to embed itself into company infrastructure, the new agent from OpenAI signals a future where human–AI collaboration becomes the norm, not the exception.

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Louis Vuitton Australia confirms customer data breach after cyberattack

Louis Vuitton has admitted to a significant data breach in Australia, revealing that an unauthorised third party accessed its internal systems and stole sensitive client details.

The breach, first detected on 2 July, included names, contact information, birthdates, and shopping preferences — though no passwords or financial data were taken.

The luxury retailer emailed affected customers nearly three weeks later, urging them to stay alert for phishing, scam calls, or suspicious texts.

While Louis Vuitton claims it acted quickly to contain the breach and block further access, questions remain about the delay in informing customers and the number of individuals affected.

Authorities have been notified, and cybersecurity specialists are now investigating. The incident adds to a growing list of cyberattacks on major Australian companies, prompting experts to call for stronger data protection laws and the right to demand deletion of personal information from corporate databases.

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5G market grows as GCT begins chipset rollout

GCT Semiconductor Holding, Inc. has begun delivering samples of its latest 5G chipsets to lead customers, including Airspan Networks and Orbic. The company offers chip and module formats to meet specific testing needs.

Initial shipments aim to fulfil early demand, after which GCT will work with clients to assess performance and establish production requirements. The firm is well positioned to scale with a robust supply chain and deep experience in high-speed connectivity.

The fabless semiconductor designer targets mid-tier 5G applications and plans to introduce a Verizon-certified module. GCT has said it remains focused on accelerating its role in the global 5G market.

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ChatGPT stuns users by guessing object in viral video using smart questions

A video featuring ChatGPT Live has gone viral after it correctly guessed an object hidden in a user’s hand using only a series of questions.

The clip, shared on the social media platform X, shows the chatbot narrowing down its guesses until it lands on the correct answer — a pen — within less than a minute. The video has fascinated viewers by showing how far generative AI has come since its initial launch.

Multimodal AI like ChatGPT can now process audio, video and text together, making interactions more intuitive and lifelike.

Another user attempted the same challenge with Gemini AI by holding an AC remote. Gemini described it as a ‘control panel for controlling temperature’, which was close but not entirely accurate.

The fun experiment also highlights the growing real-world utility of generative AI. During Google’s I/O conference during the year, the company demonstrated how Gemini Live can help users troubleshoot and repair appliances at home by understanding both spoken instructions and visual input.

Beyond casual use, these AI tools are proving helpful in serious scenarios. A UPSC aspirant recently explained how uploading her Detailed Application Form to a chatbot allowed it to generate practice questions.

She used those prompts to prepare for her interview and credited the AI with helping her boost her confidence.

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Meta CEO unveils plan to spend hundreds of billions on AI data centres

Mark Zuckerberg has pledged to invest hundreds of billions of dollars to build a network of massive data centres focused on superintelligent AI. The initiative forms part of Meta’s wider push to lead the race in developing machines capable of outperforming humans in complex tasks.

The first of these centres, called Prometheus, is set to launch in 2026. Another facility, Hyperion, is expected to scale up to 5 gigawatts. Zuckerberg said the company is building several more AI ‘titan clusters’, each one covering an area comparable to a significant part of Manhattan.

He also cited Meta’s strong advertising revenue as the reason it can afford such bold spending despite investor concerns.

Meta recently regrouped its AI projects under a new division, Superintelligence Labs, following internal setbacks and high-profile staff departures.

The company hopes the division will generate fresh revenue streams through Meta AI tools, video ad generators, and wearable smart devices. It is reportedly considering dropping its most powerful open-source model, Behemoth, in favour of a closed alternative.

The firm has increased its 2025 capital expenditure to up to $72 billion and is actively hiring top talent, including former Scale AI CEO Alexandr Wang and ex-GitHub chief Nat Friedman.

Analysts say Meta’s AI investments are paying off in advertising but warn that the real return on long-term AI dominance will take time to emerge.

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DuckDuckGo adds new tool to block AI-generated images from search results

Privacy-focused search engine DuckDuckGo has launched a new feature that allows users to filter out AI-generated images from search results.

Although the company admits the tool is not perfect and may miss some content, it claims it will significantly reduce the number of synthetic images users encounter.

The new filter uses open-source blocklists, including a more aggressive ‘nuclear’ option, sourced from tools like uBlock Origin and uBlacklist.

Users can access the setting via the Images tab after performing a search or use a dedicated link — noai.duckduckgo.com — which keeps the filter always on and also disables AI summaries and the browser’s chatbot.

The update responds to growing frustration among internet users. Platforms like X and Reddit have seen complaints about AI content flooding search results.

In one example, users searching for ‘baby peacock’ reported seeing just as many or more AI images than real ones, making it harder to distinguish between fake and authentic content.

DuckDuckGo isn’t alone in trying to tackle unwanted AI material. In 2024, Hiya launched a Chrome extension aimed at spotting deepfake audio across major platforms.

Microsoft’s Bing has also partnered with groups like StopNCII to remove explicit synthetic media from its results, showing that the fight against AI content saturation is becoming a broader industry trend.

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Meta lures AI leaders as Apple faces instability

Meta has hired two senior AI researchers from Apple, Mark Lee and Tom Gunter, as part of its ongoing effort to attract top talent in AI, according to Bloomberg.

Instead of staying within Apple’s ranks, both experts have joined Meta’s Superintelligence Labs, following Ruoming Pang, Apple’s former head of large language model development, whom Meta recently secured with a reported compensation package worth over $200 million.

Gunter, once a distinguished engineer at Apple, briefly worked for another AI firm before accepting Meta’s offer.

The moves reflect increasing instability inside Apple’s AI division, where leadership is reportedly exploring partnerships with external providers like OpenAI to power future Siri features rather than relying solely on in-house solutions.

Meta’s aggressive hiring strategy comes as CEO Mark Zuckerberg prioritises AI development, pledging substantial investment in talent and computing power to rival companies such as OpenAI and Google.

Some Apple employees have been presented with counteroffers, but these reportedly fail to match the scale of Meta’s packages.

Instead of slowing down, Meta appears determined to solidify its position as a leader in AI research, continuing to lure key experts away from competitors while Apple faces challenges retaining its top engineers.

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Eric Schmidt warns that AI growth is limited by electricity

Former Google chief executive Eric Schmidt has warned that electricity, rather than semiconductors, will limit the future growth of AI.

Speaking on the Moonshots podcast, Schmidt said the push towards artificial superintelligence—AI that exceeds human cognitive ability in almost all domains—will depend on securing sufficient power instead of just developing more advanced chips.

Schmidt noted the US alone may require an extra 92 gigawatts of electricity to support AI growth, equivalent to dozens of nuclear power stations.

Instead of waiting for new plants, companies such as Microsoft are seeking to retrofit closed facilities, including the Three Mile Island plant targeted for relaunch in 2028.

Schmidt highlighted growing environmental pressures, citing Microsoft’s 34% increase in water use within a year, a trend experts link directly to rising AI workloads.

Major AI developers like OpenAI’s Sam Altman also acknowledge energy as a key constraint. Altman has invested in nuclear fusion through Helion, while firms such as Microsoft and AMD are pressing US policymakers to fast-track energy permits.

Environmental groups, including Greenpeace, warn that unchecked AI expansion risks undermining climate goals instead of supporting them.

Schmidt believes superintelligence is inevitable and approaching rapidly, predicting specialised AI tools across all fields within five years. Rather than focusing solely on AI’s capabilities, he stressed the urgent need for planning energy infrastructure today to match tomorrow’s AI demands.

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