Economic

Humanoid robots and AI take centre stage as Musk joins Davos 2026

Elon Musk made his first appearance at the World Economic Forum in Davos despite years of public criticism towards the gathering, arguing that AI and robotics represent the only realistic route to global abundance.

Speaking alongside BlackRock chief executive Larry Fink, Musk framed robotics as a civilisational shift rather than a niche innovation, claiming widespread automation will raise living standards and reshape economic growth.

Musk predicted a future where robots outnumber humans, with humanoid systems embedded across industry, healthcare and domestic life.

He highlighted elder care as a key use case in ageing societies facing labour shortages, suggesting that robotics could compensate for demographic decline rather than relying solely on migration or extended working lives.

Tesla’s Optimus humanoid robots are already performing simple factory tasks, with more complex functions expected within a year.

Musk indicated public sales could begin by 2027 once reliability thresholds are met. He also argued autonomous driving is largely resolved, pointing to expanding robotaxi deployments in the US and imminent regulatory decisions in Europe and China.

The global market for humanoid robotics remains relatively small, but analysts expect rapid expansion as AI capabilities improve and costs fall.

Musk at Davos 2026 presented robotics as an engine for economic acceleration, suggesting ubiquitous automation could unlock productivity gains on a scale comparable to past industrial revolutions.

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OpenAI ads in ChatGPT signal a shift in conversational advertising

The AI firm, OpenAI, plans to introduce advertising within ChatGPT for logged-in adult users, marking a structural shift in how brands engage audiences through conversational interfaces.

Ads would be clearly labelled and positioned alongside responses, aiming to replace interruption-driven formats with context-aware brand suggestions delivered during moments of active user intent.

Industry executives describe conversational AI advertising as a shift from exposure to earned presence, in which brands must provide clarity or utility to justify inclusion.

Experts warn that trust remains fragile, as AI recommendations carry the weight of personal consultation, and undisclosed commercial influence could prompt rapid user disengagement instead of passive ad avoidance.

Regulators and marketers alike highlight risks linked to dark patterns, algorithmic framing and subtle manipulation within AI-mediated conversations.

As conversational systems begin to shape discovery and decision-making, media planning is expected to shift toward intent-led engagement, authority-building, and transparency, reshaping digital advertising economics beyond search rankings and impression-based buying.

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The House of Lords backs social media ban for under-16s

The upper house of the Parliament of the United Kingdom,, the House of Lords has voted in favour of banning under-16s from social media platforms, backing an amendment to the government’s schools bill by 261 votes to 150. The proposal would require ministers to define restricted platforms and enforce robust age verification within a year.

Political momentum for tighter youth protections has grown after Australia’s similar move, with cross-party support emerging at Westminster. More than 60 Labour MPs have joined Conservatives in urging a UK ban, increasing pressure ahead of a Commons vote.

Supporters argue that excessive social media use contributes to declining mental health, online radicalisation, and classroom disruption. Critics warn that a blanket ban could push teenagers toward less regulated platforms and limit positive benefits, urging more vigorous enforcement of existing safety rules.

The government has rejected the amendment and launched a three-month consultation on age checks, curfews, and curbing compulsive online behaviour. Ministers maintain that further evidence is needed before introducing new legal restrictions.

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Greece selected for Binance’s EU crypto approval

Binance has applied for a pan-European MiCA licence in Greece, positioning the country as a key regulatory gateway into the EU. The MiCA framework harmonises oversight across member states, enabling licensed firms to operate EU-wide under a single approval.

Contrary to expectations that Malta or Latvia would host the filing, the exchange selected Athens, where it has already established a holding company. The Hellenic Capital Market Commission is reportedly fast-tracking the review with support from leading accounting firms.

Company representatives said the MiCA regime offers legal clarity, regulatory certainty, and a framework that supports responsible innovation. Approval could lead to Binance expanding its corporate presence in Greece, including the opening of new offices and local staffing.

Regulatory urgency is intensifying as the July deadline approaches, particularly for firms operating across multiple EU jurisdictions. A successful application would strengthen Binance’s European strategy, expanding market access and reinforcing regulatory compliance.

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Ransomware attack on Under Armour leads to massive customer data exposure

Under Armour is facing growing scrutiny following the publication of customer data linked to a ransomware attack disclosed in late 2025.

According to breach verification platform Have I Been Pwned, a dataset associated with the incident appeared on a hacking forum in January, exposing information tied to tens of millions of customers.

The leaked material reportedly includes 72 million email addresses alongside names, dates of birth, location details and purchase histories. Security analysts warn that such datasets pose risks that extend far beyond immediate exposure, particularly when personal identifiers and behavioural data are combined.

Experts note that verified customer information linked to a recognised brand can enable compelling phishing and fraud campaigns powered by AI tools.

Messages referencing real transactions or purchase behaviour can blur the boundary between legitimate communication and malicious activity, increasing the likelihood of delayed victimisation.

The incident has also led to legal action against Under Armour, with plaintiffs alleging failures in safeguarding sensitive customer information. The case highlights how modern data breaches increasingly generate long-term consequences rather than immediate technical disruption.

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AI Glasses Impact Grants by Meta aim to boost social projects

Meta has launched a new AI Glasses Impact Grants programme to support US-based organisations using its AI-powered glasses for social and economic benefit. The initiative aims to scale existing projects and encourage new applications through financial support and technical access.

Grant recipients will be selected under two tracks. Accelerator Grants target organisations already using Meta’s AI glasses to expand their impact, while Catalyst Grants support new use cases developed with the Wearables Device Access Toolkit.

More than 30 organisations will receive funding, with awards ranging from $25,000 to $200,000 depending on project scope. Successful applicants will also join the Meta Wearables Community, a network of developers, researchers, and innovators focused on advancing wearable technology.

Practical use cases already include agricultural monitoring, sports injury documentation, and film education. Farmers use the glasses for real-time crop diagnostics, athletic trainers capture injury data hands-free, and film students record footage and pre-visualise shoots more easily.

Meta says the grants are designed to help organisations turn experimental ideas into scalable solutions. The company aims to expand the real-world impact of its AI glasses across education, accessibility, and community development.

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Higher education urged to lead on AI skills and ethics

AI is reshaping how people work, learn and participate in society, prompting calls for universities to take a more active leadership role. A new book by Juan M. Lavista Ferres of Microsoft’s AI Economy Institute argues that higher education institutions must move faster to prepare students for an AI-driven world.

Balancing technical training with long-standing academic values remains a central challenge. Institutions are encouraged to teach practical AI skills while continuing to emphasise critical thinking, communication and ethical reasoning.

AI literacy is increasingly seen as essential for both employment and daily life. Early labour market data suggests that AI proficiency is already linked to higher wages, reinforcing calls for higher education institutions to embed AI education across disciplines rather than treating it as a specialist subject.

Developers, educators and policymakers are also urged to improve their understanding of each other’s roles. Technical knowledge must be matched with awareness of AI’s social impact, while non-technical stakeholders need clearer insight into how AI systems function.

Closer cooperation between universities, industry and governments is expected to shape the next phase of AI adoption. Higher education institutions are being asked to set recognised standards for AI credentials, expand access to training, and ensure inclusive pathways for diverse learners.

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Adobe upgrades Premiere and After Effects with new AI features

New AI-powered upgrades have been unveiled for video creators, expanding tools in Premiere, After Effects, and Firefly Boards ahead of the Sundance Film Festival. The updates, introduced by Adobe, aim to streamline post-production, improve collaboration, and enhance creative control.

Premiere now offers AI-assisted object selection, redesigned shape masks, and tighter integration with Firefly Boards. Editors can brainstorm ideas, explore visuals, and move assets into workflows using AI models from Adobe, Google, OpenAI, and others.

After Effects is also receiving major updates, including native 3D parametric meshes, access to more than 1,300 Substance 3D materials, improved vector workflows, and expanded variable-font animation tools. The additions are designed to support more advanced motion design and visual storytelling.

Alongside the product upgrades, Adobe announced an extra $10 million in funding through its Film & TV Fund to support emerging filmmakers from underserved communities. New partners include Rideback RISE and Dimz Inc., with existing collaborations continuing.

According to the Sundance Institute, 85% of films submitted to the 2026 festival were created using Creative Cloud tools. Adobe said it will continue investing in AI-driven workflows, professional training, and industry partnerships to support the next generation of storytellers.

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Generative AI fuels surge in online fraud risks in 2026

Online scams are expected to surge in 2026, overtaking ransomware as the top cyber-risk, the World Economic Forum warned, driven by the growing use of generative AI.

Executives are increasingly concerned about AI-driven scams that are easier to launch and harder to detect than traditional cybercrime. WEF managing director Jeremy Jurgens said leaders now face the challenge of acting collectively to protect trust and stability in an AI-driven digital environment.

Consumers are also feeling the impact. An Experian report found 68% of people now see identity theft as their main concern, while US Federal Trade Commission data shows consumer fraud losses reached $12.5 billion in 2024, up 25% year on year.

Generative AI is enabling more convincing phishing, voice cloning, and impersonation attempts. The WEF reported that 62% of executives experienced phishing attacks, 37% encountered invoice fraud, and 32% reported identity theft, with vulnerable groups increasingly targeted through synthetic content abuse.

Experts warn that many organisations still lack the skills and resources to defend against evolving threats. Consumer groups advise slowing down, questioning urgent messages, avoiding unsolicited requests for information, and verifying contacts independently to reduce the risk of generative AI-powered scams.

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Siri to receive major AI upgrade with powerful enhancements

Apple is reportedly preparing a major overhaul of Siri by replacing the current system with an AI chatbot powered by Google’s Gemini technology. The change could mark the most significant upgrade to the assistant since its original launch.

Internal reports suggest the project aims to make Siri more conversational, capable of handling complex requests and sustained dialogue, rather than simple commands.

Future versions of iOS, iPadOS, and macOS are expected to introduce the new system. Users would still activate Siri with familiar voice commands or device buttons, regardless of the underlying technology.

Improved understanding of personal data could allow the assistant to manage calendars, photos, files, and settings more intuitively. Content creation features such as email drafting and note summarisation are also expected.

Growing competition from AI chatbots like ChatGPT and Gemini has increased pressure on Apple to modernise its digital assistant. Reports suggest a formal reveal could take place at a future developer event, followed by a broader rollout with upcoming iPhone releases.

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