Economic Archives | Page 431 of 708 | Digital Watch Observatory

OpenAI improves ChatGPT voice to stop unwanted interruptions

OpenAI has rolled out improvements to its ChatGPT voice assistant in an effort to make interactions more natural and less frustrating.

The latest update to Advanced Voice Mode allows users to pause mid-sentence without being cut off—a common issue with AI voice tools that often interrupt users during brief silences or deep breaths.

Free users of ChatGPT now benefit from this smoother conversational experience, while paying subscribers—including those on the Plus, Teams, Edu, Business, and Pro plans—also enjoy a more refined voice assistant.

The AI now speaks with a more engaging and creative tone, delivering answers that are clearer and more direct.

OpenAI’s goal is to create a more personable assistant that feels comfortable to speak with. According to the company, the changes make the AI more enjoyable to use and better equipped for real-time conversation.

These upgrades come as competition in the AI voice market heats up. Startups like Sesame, backed by major investors, are gaining attention with lifelike AI voices, while tech giants like Amazon are preparing to release enhanced voice assistants powered by large language models.

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USDC expands into Japan with new partnership and regulatory approval

Circle has announced a major move to introduce its stablecoin, USDC, to Japan through a partnership with SBI Holdings.

Starting 26 March, SBI VC Trade, a crypto exchange under SBI Holdings, will begin full-scale USDC trading. USDC has become the first international dollar-backed stablecoin to gain legal recognition under the country’s new stablecoin framework.

Jeremy Allaire, CEO of Circle, expressed excitement about the potential for cross-border transactions, digital payments, and financial innovation in Japan.

He cited the country’s transparent regulations as key to the successful integration of USDC into the market. With support from SBI Holdings, Circle Japan KK, and leading exchanges, the digital dollar is set to meet the needs of Japan’s evolving digital economy.

Circle is also gaining traction outside Japan, with the Philippines’ GCash wallet adding support for USDC. Stablecoins are growing in importance in the country’s remittance market.

Recently, USDC and Circle’s EURC stablecoin received regulatory approval in Dubai, becoming the first to be authorised under the Dubai Financial Services Authority’s framework.

With a market cap of $59.75 billion as of 25 March, USDC continues to grow, with $2.6 billion minted in the last 30 days.

Although Tether dominates the stablecoin market, Circle’s adherence to regulations positions it as a more widely accepted and regulated alternative.

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Strategy’s Bitcoin holdings surpass 500,000

Michael Saylor’s Strategy has surpassed 500,000 Bitcoin, acquiring 6,911 BTC for $584 million during the recent market dip.

The purchase, made between 17 March and 23 March, has boosted the company’s holdings to a total of 506,137 BTC. The average purchase price was approximately $84,529 per Bitcoin, marking a total acquisition value of around $33.7 billion.

The latest move comes shortly after the company announced the pricing of its preferred stock, which raised approximately $711 million.

Despite global concerns over trade wars and market uncertainty, Strategy remains confident in its Bitcoin investments. Analysts caution that market volatility, influenced by tariff concerns, could affect both traditional and digital assets until at least April.

Strategy’s continued accumulation of Bitcoin amid potential risks from global tariffs signals the company’s commitment to long-term cryptocurrency growth. The decision is made despite external market pressures.

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Visa-backed Rain secures funding for global growth

Rain, a global card issuing platform powered by stablecoins, has raised $24.5 million in a funding round led by Norwest Venture Partners.

Other investors include Galaxy Ventures, Goldcrest, Thayer, Hard Yaka, and existing backers such as Lightspeed Venture Partners and Coinbase Ventures.

The investment will help Rain enhance interoperability with traditional financial systems, expand internationally, and advance its stablecoin-based settlement infrastructure.

The company has grown significantly, reporting a 15-fold increase in transactions across more than 100 countries over the past year.

Rain has also secured principal membership with Visa, enabling it to issue cards in Europe, the US, and Latin America. Its platform allows businesses to create physical and virtual cards linked to both crypto wallets and fiat accounts. It also supports stablecoin settlements across multiple blockchain networks.

Norwest Venture Partners emphasised Rain’s role in bridging compliance with digital currencies, underscoring the growing interest in integrating stablecoins into mainstream financial services.

The latest funding positions Rain as a key player in the evolution of digital payments.

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IMF integrates Bitcoin into global economic reporting

The International Monetary Fund (IMF) has formally included Bitcoin and other digital assets in its latest Balance of Payments Manual (BPM7). However, it sets a global standard for tracking crypto-related financial activity.

Despite not recognising them as legal currency, the update provides a structured approach to classifying and reporting digital assets across borders.

Under the new framework, Bitcoin is a non-produced, non-financial asset, similar to land or natural resources. Stablecoins such as USDT and USDC are classified as financial instruments due to their backing by reserves and issuer liabilities.

The guidelines also cover crypto-related services, including staking and mining, ensuring greater transparency in international economic data.

The IMF’s decision coincides with increasing government involvement in Bitcoin. The US has established a strategic Bitcoin reserve, holding an estimated 200,000 BTC.

Meanwhile, El Salvador is accumulating Bitcoin despite IMF conditions tied to its financial aid package. These moves highlight Bitcoin’s growing role in national economic strategies, even as its legal status remains debated.

Reactions to the IMF’s update have been mixed. Some in the crypto community view it as a step toward Bitcoin’s mainstream acceptance.

Others argue it is merely a technical change in statistical reporting. Regardless, the new framework ensures that digital assets are officially accounted for in global financial data, potentially influencing future regulations and policies.

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US trade war escalates with new tariffs and secondary duties

US President Donald Trump announced that new automobile tariffs are imminent, though not all levies set for 2 April will be implemented immediately.

The move comes as Washington seeks to balance its aggressive trade policies with potential exemptions for certain nations. While the administration has indicated some flexibility, officials maintain that strong reciprocal tariffs will remain a key priority.

Wall Street responded positively to the prospect of a more selective approach, with US stocks climbing on optimism that the measures may be less severe than initially expected.

New tariffs will target key industries, including autos, pharmaceuticals, and semiconductors, with duties expected to reach 25%. Trump defended the tariffs, stating they are essential for national security and economic independence.

Meanwhile, the White House announced a 25% secondary tariff on any country purchasing oil or gas from Venezuela, a move that sent oil prices rising.

Countries with large trade surpluses and non-tariff barriers are expected to face the most scrutiny, with Washington focusing on a list of high-priority nations dubbed the ‘Dirty 15.’

Despite international concerns, Trump remains steadfast in his efforts to shrink the United States trade deficit, which he claims is fuelled by unfair foreign practices.

While some nations, including the United Kingdom and India, have pushed for exemptions, officials suggest that avoiding tariffs entirely will be difficult.

The administration has also signalled further investigations into other sectors, raising the likelihood of additional trade restrictions in the near future. Experts believe that while some measures may be delayed, the overall direction of US trade policy remains aggressive and unpredictable.

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EU regulators to drop Apple probe after compliance changes

EU antitrust regulators are preparing to close their year-long investigation into Apple’s web browser options on iPhones.

The inquiry, launched under the Digital Markets Act (DMA), examined whether Apple’s design restricted users from easily switching to rival browsers or search engines.

Changes implemented by the company have addressed the concerns of the European Commission, leading regulators to conclude the case.

The probe, which began in March last year, was part of the EU’s broader effort to ensure fair competition in digital markets.

Apple made modifications to its browser settings to comply with the new regulations, avoiding potential fines or further legal action. These changes align with the goal of the European Union to prevent dominant technology firms from imposing unfair restrictions on users.

Regulators are expected to officially close the investigation soon, marking a significant step in enforcing the DMA. The outcome highlights the EU’s growing influence over global tech policies, compelling major companies like Apple to adjust their practices to meet stricter competition standards.

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DeepSeek launches V3 to challenge OpenAI

Chinese AI startup DeepSeek has unveiled a major upgrade to its V3 large language model, intensifying the competition with US tech giants like OpenAI and Anthropic.

The new model, DeepSeek-V3-0324, is available via the AI development platform Hugging Face, showcasing significant advancements in reasoning and coding capabilities.

Benchmark tests have highlighted notable improvements in technical performance instead of its predecessor. DeepSeek, which has quickly gained recognition in the AI industry, continues to release competitive models, offering lower operational costs than many Western counterparts.

Following the V3 launch in December, DeepSeek also introduced its R1 model in January, further establishing its presence in the global AI market.

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DNA-testing firm 23andMe faces financial collapse

23andMe has filed for bankruptcy in the US after struggling with declining demand for its ancestry kits and a major data breach in 2023.

The firm, once valued at nearly $6 billion, has seen its market worth plummet, with shares dropping 50% to just 88 cents after co-founder Anne Wojcicki resigned as CEO. The company will continue operating during the sale process, securing $35 million in financing over the weekend.

Concerns have been raised about the fate of genetic data collected from customers, particularly as 23andMe has made multiple deals with pharmaceutical and biotech firms.

While the company insists the bankruptcy will not affect how data is managed, California’s attorney general has urged users to delete their information amid privacy concerns. Experts warn that while accounts can be deleted, some data may still exist in anonymised form.

The firm’s decline has been worsened by its inability to retain customers, as most users only purchase a kit once. The 2023 data breach, exposing the personal details of nearly 7 million users, further damaged its reputation, leading to a $30 million legal settlement.

Wojcicki, who had made several failed buyout attempts, has signalled her intention to bid again, but 23andMe has not disclosed any other potential buyers.

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US-India trade negotiations intensify over tariff disputes

India is prepared to lower tariffs on over half of US imports worth $23 billion in a bid to ease trade tensions and prevent harsh reciprocal tariffs from Washington.

With US President Donald Trump set to impose new worldwide tariffs from 2 April, Indian officials fear the move could impact 87% of the country’s exports to the United States, prompting urgent negotiations between the two nations.

Trade talks are scheduled to begin this week, led by US Assistant Trade Representative Brendan Lynch.

While India is willing to make significant tariff cuts on a wide range of goods, government sources indicate that the concessions will depend on securing relief from US duties.

Sensitive items such as meat, wheat, maize, and dairy products remain off the table, but reductions may be possible for almonds, pistachios, and certain grains. India is also pushing for a phased reduction of its automobile tariffs, which currently exceed 100%.

Despite efforts by Prime Minister Narendra Modi to strengthen ties with Washington, Trump has repeatedly criticised India’s tariff policies, labelling the country a ‘tariff abuser.’

The Modi administration is weighing broader tariff reforms but faces domestic political challenges in implementing sweeping reductions. Experts suggest that while external pressure from the US might drive some changes, major across-the-board cuts remain unlikely in the short term.

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