Economic

Gemini expands its footprint in Australia

Gemini has announced a significant expansion in Australia, reinforcing its long-term growth strategy across Asia. The move includes appointing James Logan, gaining AUSTRAC registration, and launching new AUD banking rails for faster deposits and trading.

Australians can now deposit funds instantly through Osko and the New Payments Platform (NPP), avoiding international transfer delays and fees. Users can seamlessly buy, sell, and trade cryptocurrencies using AUD on the Gemini app and the Gemini ActiveTrader platform.

According to Gemini’s Global State of Crypto Report 2025, 22% of Australians already hold digital assets- a rate matching that of the United States.

James Logan will lead Gemini’s Australian operations, overseeing strategy, partnerships, and customer growth. With a background in financial services and senior roles at exchanges like Luno and Bitget, Logan brings deep expertise in digital asset adoption and trust building.

He described Gemini’s expansion as ‘an exciting milestone strengthening Australia’s access to secure and transparent crypto trading.’

Gemini’s mission to bridge traditional finance and the future of money underpins its commitment to trust, transparency, and innovation. The company views its expansion as the start of a long-term effort to empower Australians with secure tools to participate in the next generation of digital finance.

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AI and cloud to drive Google’s partnership with LA28 and Team USA

Google has announced a significant partnership with LA28, Team USA, and NBCUniversal ahead of the 2026 and 2028 Olympic and Paralympic Games.

The collaboration aims to create a more interactive and personalised experience for fans, athletes, and the 70,000 volunteers helping deliver the LA28 Games.

The agreement will combine innovations across Google Search, Gemini, and Google Cloud. AI tools will assist Team USA with training analysis, while viewers will benefit from more innovative search functions during NBCUniversal’s coverage.

Gemini will also support athletes and organisers with enhanced data insights and communication tools.

Google Cloud will power what is set to be the most technologically advanced Games in history. It will optimise event logistics, analyse performance data, and provide real-time analytics to NBCUniversal.

Meanwhile, YouTube will host exclusive Olympic content, expanding NBCUniversal’s storytelling reach through short-form video.

The partnership underscores how AI and cloud technologies are shaping the future of global events. Fans attending or watching from home will enjoy more immersive, on-demand access to the athletes, competitions, and stories driving LA28.

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ABB sells Robotics division to SoftBank in $5.4 billion deal

The Swedish-Swiss electrical engineering corporation ABB has agreed to sell its Robotics division to Japan’s SoftBank Group for an enterprise value of $5.375 billion, abandoning plans for a spin-off.

However, the move marks one of the most significant robotics transactions in recent years, and reflects both firms’ ambition to drive the next era of AI-based automation.

A divestment that will allow ABB to focus on its core businesses in electrification and automation, while SoftBank expands its ‘Physical AI’ strategy.

ABB said the sale would create immediate shareholder value and that proceeds would be used according to its capital allocation principles.

The Robotics division, which employs around 7,000 people and generated $2.3 billion in 2024 revenues, will become part of SoftBank’s portfolio upon completion of the deal, expected by mid-to-late 2026. The transaction is projected to yield ABB a pre-tax book gain of about $2.4 billion.

SoftBank founder Masayoshi Son said the acquisition aligns with his vision to combine artificial superintelligence and robotics to ‘propel humanity forward’.

ABB’s CEO Morten Wierod said the partnership would unite ABB’s industrial expertise with SoftBank’s AI capabilities, strengthening its global leadership in advanced robotics.

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Discord incident highlights growing vendor security risks

A September breach at one of Discord’s customer service vendors has exposed user data, highlighting the growing cybersecurity risks associated with third-party providers. Attackers exploited vulnerabilities in the external platform, but Discord’s core systems were not compromised.

Exposed information includes usernames, email addresses, phone numbers, and partial payment details, such as the last four digits of credit card numbers. No full card numbers, passwords, or messages were accessed, which limited the scope of the incident compared to more severe breaches.

Discord revoked the vendor’s system access, launched an investigation, and engaged law enforcement and forensic experts. Only users who contacted support were affected. Individuals impacted are being notified by email and advised to remain vigilant for potential scams.

The incident underscores the growing risk of supply chain attacks, where external service providers become weak points in otherwise well-secured organisations. As companies rely more on vendors, attackers are increasingly targeting these indirect pathways.

Cybersecurity analysts warn that third-party breaches are on the rise amid increasingly sophisticated phishing and AI-enabled scams. Strengthening vendor oversight, improving internal training, and maintaining clear communication with users are seen as essential next steps.

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Opal’s global rollout spans 15 countries with major feature upgrades

Google is expanding access to Opal, its no-code AI mini-app builder. Introduced two months ago within Google Labs, the tool enables users to create AI-powered mini-apps through natural language prompts, eliminating the need for coding.

According to Megan Li, Senior Product Manager at Google Labs, the expansion follows strong early engagement from creators. Users can access Opal at opal.withgoogle.com and join its builder community through Discord.

New debugging features aim to make workflows more transparent and efficient. Users can now run workflows step by step in a visual editor or adjust specific steps in the console, with real-time error reporting.

Performance upgrades have been introduced to speed up app creation, while parallel run capabilities enable simultaneous workflow steps. The rollout covers India, Canada, Japan, South Korea, Vietnam, Indonesia, Brazil, Singapore, Colombia, El Salvador, Costa Rica, Panamá, Honduras, and Argentina.

Meanwhile, Google DeepMind has launched Gemini 2.5 Computer Use, a specialised model capable of interacting with user interfaces. Available in preview through the Gemini API, it can be accessed via Google AI Studio and Vertex AI Studio.

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Kazakhstan turns to AI to fight the shadow economy

Kazakhstan’s Prime Minister Olzhas Bektenov has directed the full implementation of AI across government agencies to meet President Kassym-Jomart Tokayev’s goal of reducing the shadow economy’s share in GDP to 15 percent in 2025.

At a government session, Bektenov said progress must go beyond reports and correspondence, calling for structural reforms in taxation, digitalisation, and business regulation. He urged ministries to pursue a ‘transparent economy’ through comprehensive AI and data integration initiatives.

The State Revenue Committee of Kazakhstan will lead the digital transformation, supported by a new Data Processing Centre established by the Ministry of Artificial Intelligence and Digital Development.

Bektenov stressed that digitalisation projects such as cashless payments and the digital tenge have already proven effective in curbing unrecorded transactions and improving financial oversight.

AI will also be deployed in customs risk profiling and cargo inspection analysis to detect fraud and reduce corruption.

The Ministries of Finance, Justice, Trade, and National Economy were instructed to integrate databases under the Smart Data Finance system and to finalise an automated risk management system for company registration by 25 November.

Deputy Prime Minister Serik Zhumangarin will oversee coordination.

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AI recreations of Robin Williams spark outrage

Zelda Williams has urged people to stop sending her AI-generated videos of her late father, Robin Williams, calling the practice disturbing and disrespectful. The actor and director said the videos are exploitative and misrepresent what her father would have wanted.

In her post, she said such recreations are ‘dumb’ and a ‘waste of time and energy’, adding that turning human legacies into digital imitations is ‘gross’. She criticised those using AI to simulate deceased performers for online engagement, describing the results as emotionless and detached.

The discussion intensified after the unveiling of ‘AI actor’ Tilly Norwood, created by Dutch performer Eline Van der Velden. Unions and stars such as Emily Blunt condemned the concept, warning that AI-generated characters risk eroding human creativity and emotional authenticity.

Williams previously supported SAG-AFTRA’s campaign against the misuse of AI in entertainment, calling digital recreations of her father’s voice ‘personally disturbing’. She has continued to call for respect for real artists and their legacies.

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Africa launches world’s largest tokenised economy with $5.5 billion

Global Settlement Network (GSN) and Diacente Group have partnered to establish Africa’s most advanced tokenised economy, valued at $5.5 billion in real-world infrastructure. The collaboration digitises assets across food production, minerals, renewable energy, and trade.

The initiative aims to create an inclusive, efficient economic system, leveraging blockchain to enhance emerging markets’ global participation.

Uganda leads with its first Central Bank Digital Currency (CBDC) pilot, deployed on GSN’s permissioned blockchain and backed by treasury bonds. Agro-processing hubs, mining operations, and solar plants underpin the tokenisation effort.

Fully compliant with KYC and AML regulations, the digital shilling enables over 40 million users to transact securely via smartphones and USSD, fostering financial inclusion across East Africa.

The project supports Uganda’s Vision 2040 and the African Union’s Agenda 2063, aligning with the goals of the African Continental Free Trade Area. Leaders project one million jobs and $10 billion in annual exports.

Ryan Kirkley, GSN co-founder, calls it a ‘programmable economy grounded in real assets,’ while Diacente’s Edgar Agaba emphasises attracting investment and empowering local industries through transparent, tech-driven systems.

The partnership sets a precedent for emerging markets, reducing reliance on intermediaries and unlocking global capital. Tokenisation integrated with national development drives sustainable growth, offering a scalable model for digital economies based on real infrastructure and regulatory collaboration.

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Power grid spending surges as US braces for data centre and AI boom

US electric utilities are set to spend nearly $208 billion on the power grid in 2025 and more than $1.1 trillion over the next five years, according to the Edison Electric Institute. The surge in investment reflects rising demand from data centres, artificial intelligence, and wider electrification across the economy.

EEI data shows that investor-owned utilities spent $765 billion on capital projects in the five years to 2024. The new spending represents a significant increase and is aimed at upgrading and expanding infrastructure to keep pace with the accelerating demand for electricity.

The growing investment comes as demand from energy-intensive technologies continues to rise. Data centres and AI workloads are driving sustained growth in US power consumption, placing unprecedented pressure on existing infrastructure and prompting utilities to scale up their spending plans.

David Weeks, supply chain industry practice lead at Moody’s, warned that the escalating energy crisis could become a limiting factor across multiple industries. He said grid constraints and permitting delays must be factored into corporate supply chain strategies to avoid future disruptions.

As electrification spreads across the economy, grid reliability and capacity are becoming critical considerations for companies. The planned investment underscores the urgency of modernising the power grid to support economic growth while adapting to new technological demands.

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