E-commerce and trade

SK Telecom unveils $700B cybersecurity upgrade

SK Telecom has announced a major cybersecurity initiative worth KRW 700 billion, designed to restore trust and enhance information security after a recent incident.

The company’s new programme, called the Accountability and Commitment Program, includes four elements to protect customers and reinforce transparency.

A central part of the initiative is the Information Protection Innovation Plan, which involves a five-year investment to build a world-class cybersecurity system.

The project will follow the US National Institute of Standards and Technology’s Cybersecurity Framework and aims to position SK Telecom as Korea’s leader in information security by 2028.

To further support affected customers, the company is upgrading its Customer Assurance Package and introducing a Customer Appreciation Package to thank users for their patience and loyalty.

A subscription cancellation fee waiver has also been included to reduce friction for those reconsidering their service.

SK Telecom says it will maintain its commitment to customer safety and service reliability, pledging to fully address all concerns and enhance security and service quality across the board.

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OpenAI rejects Robinhood’s token offering

OpenAI has publicly disavowed Robinhood’s decision to sell so-called ‘OpenAI tokens’, warning that these blockchain-based contracts do not offer real equity in the company.

In a statement posted on X, OpenAI made clear that it had not approved, endorsed, or participated in the initiative and emphasised that any equity transfer requires its direct consent.

Robinhood recently announced plans to offer tokenised access to private firms like OpenAI and SpaceX for investors in the EU. The tokens do not represent actual shares but mimic price movements using blockchain contracts.

Despite OpenAI’s sharp rejection, Robinhood’s stock surged to record highs following the announcement.

A Robinhood spokesperson later claimed the tokens were linked to a special purpose vehicle (SPV) that owns OpenAI shares, though SPVs do not equate to direct ownership either.

The company said the move aims to give everyday investors indirect exposure to high-profile startups through digital contracts.

Robinhood CEO Vlad Tenev defended the strategy on X, saying the token sale was just the beginning of a broader effort to democratise access to private markets.

OpenAI, meanwhile, declined to comment further.

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Google launches Veo 3 video for Gemini users globally

Google has begun rolling out its Veo 3 video-generation model to Gemini users across more than 159 countries. The advanced AI tool allows subscribers to create short video clips simply by entering text prompts.

Access to Veo 3 is limited to those on Google’s AI Pro plan, and usage is currently restricted to three videos per day. The tool can generate clips lasting up to eight seconds, enabling rapid video creation for a variety of purposes.

Google is already developing additional features for Gemini, including the ability to turn images into videos, according to product director Josh Woodward.

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New digital stylist reshapes Mango’s e-commerce experience

Mango has launched a new AI-powered personal stylist designed to elevate the online shopping experience. Called Mango Stylist, the tool offers fashion advice and outfit suggestions based on each user’s preferences, creating a more interactive and intuitive way to browse.

Available through the Mango app and Instagram chat, the assistant uses natural language to provide styling tips and product recommendations tailored to the individual. It builds on Mango’s previous investment in generative AI and complements its existing customer service assistant, Iris.

The rollout is part of Mango’s broader 4E Strategic Plan, which prioritises technological innovation and customer engagement. By integrating Mango Stylist into its e-commerce platforms, the brand aims to streamline shopping and drive value across key markets, including the UK, Spain, Germany and the US.

Behind the scenes, Mango’s digital, data, and fashion teams collaborated on the project, drawing from over 15 machine learning platforms to fine-tune everything from pricing to product suggestions. The fashion chain sees this development as a major step towards delivering a seamless hybrid shopping experience.

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Robotics set to have a ChatGPT moment

Vinod Khosla, the venture capitalist behind early bets in OpenAI, predicts a breakthrough in robotics akin to ChatGPT will arrive within two to three years. He envisions adaptable, humanoid robots able to handle kitchen tasks, from chopping vegetables to washing dishes, for around £230 to £307 per month.

Current robots, particularly those from Chinese manufacturers, struggle in new environments and lack true self‑learning, a gap Khosla believes will soon close. He adds that while large established firms like Apple have not taken the lead, startups are where transformative innovation is most likely to come.

Nvidia CEO Jensen Huang sees a vast future in physical AI. Huang labels the robotics sector a multitrillion‑dollar opportunity and highlights autonomous vehicles as the first major commercial application. Similarly, Amazon plans to increase hiring in AI and robotics.

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AliExpress agrees to binding EU rules on data and transparency

AliExpress has agreed to legally binding commitments with the European Commission to comply with the Digital Services Act (DSA). These cover six key areas, including recommender systems, advertising transparency, and researcher data access.

The announcement on 18 June marks only the second case where a major platform, following TikTok, has formally committed to specific changes under the DSA.

The platform promised greater transparency in its recommendation algorithms, user opt-out from personalisation, and clearer information on product rankings. It also committed to allowing researchers access to publicly available platform data through APIs and customised requests.

However, the lack of clear definitions around terms such as ‘systemic risk’ and ‘public data’ may limit practical oversight.

AliExpress has also established an internal monitoring team to ensure implementation of these commitments. Yet experts argue that without measurable benchmarks and external verification, internal monitoring may not be enough to guarantee meaningful compliance or accountability.

The Commission, meanwhile, is continuing its investigation into the platform’s role in the distribution of illegal products.

These commitments reflect the EU’s broader enforcement strategy under the DSA, aiming to establish transparency and accountability across digital platforms. The agreement is a positive start but highlights the need for stronger oversight and clearer definitions for lasting impact.

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Crypto spending in Europe is rising with stablecoins leading

Crypto is gaining traction as a go-to payment method across Europe, with stablecoins playing a leading role. According to a June report from Oobit, more than 75% of crypto purchases made by European users over the past month were settled using stablecoins.

Retail and travel dominate the spending landscape. In countries like Germany, Spain, and Poland, crypto is most commonly used for food, drink, and other retail items. Meanwhile, travel expenses top the list in France, Italy, Greece, and Ireland.

Notably, over half of all crypto transactions were related to everyday shopping, with Poland alone making up a third of those purchases.

Poland, Lithuania, and Estonia are at the forefront of stablecoin adoption. Poland led the region, with over 30% of Oobit’s retail crypto transactions occurring there—most settled in USDC.

Lithuania also showed strong growth, particularly in euro-backed EURR transactions, which have doubled recently. Supportive regulation across these nations, including MiCA-compliant laws, is encouraging the trend.

The findings reflect a wider transition in how crypto is used. Instead of serving purely as an investment, digital currencies are increasingly woven into daily financial activities, showing their value in practical, real-world scenarios.

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Meta pursues two AI paths with internal tension

Meta’s AI strategy is facing internal friction, with CEO Mark Zuckerberg and Chief AI Scientist Yann LeCun taking sharply different paths toward the company’s future.

While Zuckerberg is doubling down on superintelligence, even launching a new division called Meta Superintelligence Labs, LeCun argues that even ‘cat-level’ intelligence remains a distant goal.

The new lab, led by Scale AI founder Alexandr Wang, marks Zuckerberg’s ambition to accelerate progress in large language models — a move triggered by disappointment in Meta’s recent Llama performance.

Reports suggest the models were tested with customised benchmarks to appear more capable than they were. That prompted frustration at the top, especially after Chinese firm DeepSeek built more advanced tools using Meta’s open-source Llama.

LeCun’s long-standing advocacy for open-source AI now appears at odds with the company’s shifting priorities. While he promotes openness for diversity and democratic access, Zuckerberg’s recent memo did not mention open-source principles.

Internally, executives have even discussed backing away from Llama and turning to closed models like those from OpenAI or Anthropic instead.

Meta is pursuing both visions — supporting LeCun’s research arm, FAIR, and investing in a new, more centralised superintelligence effort. The company has offered massive compensation packages to OpenAI researchers, with some reportedly offered up to $100 million.

Whether Meta continues balancing both philosophies or chooses one outright could determine the direction of its AI legacy.

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Lloyds Bank to test neurosymbolic AI for better customer support

Lloyds has partnered with UnlikelyAI to test neurosymbolic AI across its operations to enhance customer service and reinforce its commitment to responsible AI. The trial will occur in Lloyd’s Innovation Sandbox and focus on ensuring accurate, consistent and explainable outputs.

UnlikelyAI combines neural networks with logic-based symbolic reasoning to produce AI that avoids hallucinations and supports transparent decision-making. The firm was founded by William Tunstall-Pedoe, the creator of voice assistant Evi, which helped build Amazon’s Alexa.

Lloyds hopes the technology will drive more personalised customer support and improve internal efficiency. The bank recently migrated its AI platforms to Google Cloud, further strengthening its digital infrastructure.

The announcement follows increased scrutiny from MPs over banks’ reliance on AI and tech vulnerabilities. Lloyds CEO Charlie Nunn believes new large language models could significantly improve customer interaction and personalised advice.

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DeepSeek gains business traction despite security risks

Chinese AI company DeepSeek is gaining traction in global markets despite growing concerns about national security.

While government bans remain in place across several countries, businesses are turning to DeepSeek’s models for low cost and firm performance, often ranking just behind OpenAI’s ChatGPT and Google’s Gemini in traffic and market share.

DeepSeek’s appeal lies in its efficiency. With advanced engineering techniques like its ‘mixture-of-experts’ system, the company has reduced computing costs by activating fewer parameters without a noticeable drop in performance.

Training costs have reportedly been as low as $5.6 million — a fraction of what rivals like Anthropic spend. As a result, DeepSeek’s models are now available across major platforms, including AWS, Azure, Google Cloud, and even open-source repositories like GitHub and Hugging Face.

However, the way DeepSeek is accessed matters. While companies can safely self-host the models in private environments, using the mobile app or website means sending data to Chinese servers, a key reason for widespread bans on public-sector use.

Individual consumers often lack the technical control enterprises enjoy, making their data more vulnerable to foreign access.

Despite the political tension, demand continues to grow. US firms are exploring DeepSeek as a cost-saving alternative, and its models are being deployed in industries from telecoms to finance.

Even Perplexity, an American AI firm, has used DeepSeek R1 to power a research tool hosted entirely on Western servers. DeepSeek’s open-source edge and rapid technical progress are helping it close the gap with much larger AI competitors — quietly but significantly.

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