Google Cloud has partnered with Air France-KLM to apply generative AI technology to the airline group’s vast data. The airline’s extensive operations, which include 551 aircraft and 93 million passengers carried in 2023, generate significant amounts of data. Google Cloud’s AI solution will analyse passenger preferences and travel patterns and optimise aircraft maintenance predictions.
The partnership aims to enhance the airline’s operations by offering more tailored services to passengers and improving maintenance efficiency, reducing the time needed for predictive analysis from hours to minutes.
Despite the collaboration, Air France-KLM will retain full control over its data. Matt Renner, President of Google Cloud’s Global Revenue, emphasised the value of airline data in driving operational insights and enhancing customer experiences.
The founder of Hydra, a notorious darknet marketplace and crypto mixing service has been sentenced to life in prison by a Russian court. Stanislav Moiseev and 15 accomplices were convicted of running a criminal network that handled over $5 billion in cryptocurrency transactions, while also producing and selling illegal drugs and psychotropic substances. Moiseev was also fined $38,100, with additional fines imposed on his accomplices.
Hydra, which was dismantled in 2022 by German authorities, accounted for 80% of all darknet-related cryptocurrency transactions at its peak. It sold stolen credit card data, counterfeit currencies, and fake identity documents. Despite its shutdown, Hydra’s criminal operations left a significant mark, with its user base reportedly including 17 million customers and 19,000 vendors.
The sentences include prison terms ranging from eight to 23 years for Moiseev’s accomplices, alongside the seizure of properties, vehicles, and nearly a ton of drugs. Russian officials have been investigating Hydra since 2016, but the convictions are subject to appeal.
Data brokers Mobilewalla and Gravy Analytics have agreed to stop using sensitive location data following a settlement with the US Federal Trade Commission (FTC). The agreement addresses concerns about tracking individuals’ religious beliefs, political leanings, and pregnancy status through mobile device data.
The settlement represents the first instance of banning the collection of location data through online advertising auctions. The FTC accused the companies of unfair practices, stating that Mobilewalla gathered information without consent from ad auction platforms. Such platforms allow advertisers to bid on specific audiences but inadvertently exposed consumers to privacy risks.
Gravy Analytics, owned by Unacast, sold location data to government contractors, prompting constitutional concerns from FTC commissioners. Mobilewalla disputed the allegations but stated the agreement allows it to continue offering insights while respecting privacy. Both companies committed to halting sensitive data usage and introducing opt-out options for consumers.
FTC Chair Lina Khan highlighted the broader risks of targeted advertising, warning that Americans’ sensitive data is at risk of misuse. The settlement is part of the Biden administration’s effort to regulate data brokers and strengthen privacy protections, as outlined by proposed rules from the US Consumer Financial Protection Bureau.
Chinese AI company SenseTime Group, which has struggled to keep up with rivals in the generative AI sector, announced a major organisational restructuring on Tuesday to shift its focus toward generative AI technologies. The Hong Kong-listed firm, which was once a leader in computer vision and surveillance, has faced a 61% drop in its share price since its IPO three years ago.
As part of its transformation, SenseTime is pivoting to make generative AI its core business, aiming to drive future growth and profitability. This comes as its traditional AI business, especially in computer vision, has seen a significant decline, with revenues from its ‘traditional AI’ segment dropping by more than 50% in the first half of the year.
SenseTime launched its own large language model, SenseNova, in early 2023, positioning it as a competitor to OpenAI’s GPT models. The company’s restructuring involves the creation of several new business units, each with its own CEO, focusing on sectors like smart healthcare, robotics, and smart retail. Despite its challenges, SenseTime continues to push for a shift toward more profitable, cutting-edge AI technologies.
Safe, the multsignature wallet and digital assets platform, has announced plans to launch a blockchain transaction processor network in 2025. Named Safenet, the network aims to provide instant cross-chain payments, eliminating the delays often experienced during blockchain transactions. Inspired by VisaNet, the network will act as a connecting layer for existing blockchains, allowing users to interact with multiple networks through a single account.
Safenet, which will be powered by processors, is designed to offer a seamless experience similar to traditional payment networks, where transactions are processed instantly. The system will also integrate fraud checks, compliance measures, and security protocols to ensure safe transactions. Initially, Safenet will support cross-chain accounts and liquidity functions, with plans to expand its services in the future.
The open system of Safenet allows more processors to join, offering additional services like security, compliance, and automation. Validators will earn rewards by validating transactions and staking in the ecosystem. Schor also mentioned that the platform could offer users the ability to access assets with partial collateral, similar to how traditional banks manage mortgages.
The Safenet network is expected to go live in 2025, with an alpha version set for the first quarter. A validator network is planned for the second quarter, and the full protocol will be launched later in the year, bringing new opportunities to the crypto space.
Investors are flocking to data centre operators in the Asia Pacific region, driven by the growing demand for AI services and robust market valuations. Major transactions, like Blackstone’s $15.58 billion acquisition of Australia’s AirTrunk, have set high benchmarks for the sector. Industry experts predict that the region’s data centres will continue to see strong valuations due to their nascent stage and promising growth, despite concerns about insufficient infrastructure in some areas.
Several notable investment opportunities have surfaced, such as the sale of stakes in Indonesian data centre NeutraDC and Telkom’s data centre arm, which could be valued at over $1 billion. These deals reflect a broader trend of investors seeking high-growth opportunities in the region. NeutraDC’s expansion plan, which aims to increase capacity to 500 megawatts by 2030, has made it an attractive target, with valuations potentially exceeding 20 times core earnings.
The Asia Pacific region has become a leader in global data centre mergers and acquisitions, surpassing half of the world’s total transactions this year. This surge is attributed to the booming AI demand, with companies rapidly expanding their data processing capacity. However, some investors warn that the sustainability of these high valuations will depend on overcoming challenges like power shortages and the reliable delivery of new infrastructure projects.
While the long-term outlook for Asia Pacific’s data centre market remains positive, experts predict that growth may slow slightly as new capacity is brought online. Investors will need to navigate execution risks to maintain the sector’s momentum and ensure the continued expansion of data centre infrastructure.
Cambodia has taken a decisive step in regulating cryptocurrencies by blocking access to 16 exchange websites, including Binance, Coinbase, and OKX. The Telecommunication Regulator of Cambodia (TRC) enforced the block on platforms without licences from the country’s Securities and Exchange Regulator (SERC). While website access is restricted, mobile apps for these platforms remain operational.
This move aligns with Cambodia’s cautious approach to cryptocurrency, where only two entities operate under a regulatory sandbox. These licensed platforms are barred from facilitating exchanges between digital assets and fiat currencies, such as the Cambodian riel or US dollars. The restrictions follow concerns over the nation’s role in global crypto scams and cybercrime, often involving money laundering and illicit online gambling.
Despite these measures, Cambodia remains active in the global crypto market, ranking among the top 20 nations for retail crypto usage per capita. Statista projects that the country’s digital assets market will generate $8 million in revenue by 2024, although growth is expected to slow in subsequent years.
Australia‘s competition watchdog has called for a review of efforts to ensure more choice for internet users, citing Google’s dominance in the search engine market and the failure of its competitors to capitalise on the rise of AI. A report by the Australian Competition and Consumer Commission (ACCC) highlighted concerns about the growing influence of Big Tech, particularly Google and Microsoft, as they integrate generative AI into their search services. This raises questions about the accuracy and reliability of AI-generated search results.
While the use of AI in search engines is still in its early stages, the ACCC warns that large tech companies’ financial strength and market presence give them a significant advantage. The commission expressed concerns that AI-driven search could lead to misinformation, as consumers may find AI-generated responses both more useful and less accurate. In response to this, Australia is pushing for new regulations, including laws to prevent anti-competitive behaviour and improve consumer choice.
The Australian government has already introduced several measures targeting tech giants, such as requiring social media platforms to pay for news content and restricting access for children under 16. A proposed new law could impose hefty fines on companies that suppress competition. The ACCC has called for service-specific codes to address data advantages and ensure consumers have more freedom to switch between services. The inquiry is expected to close by March next year.
New US export rules targeting China’s semiconductor sector are not expected to affect ASML’s financial outlook. The Dutch chip equipment maker reaffirmed its guidance for 2025 group sales of €30-35 billion, with China’s share declining to 20%, down from around 50% in 2023.
The updated US restrictions, Washington’s third crackdown in as many years, limit exports to 140 Chinese companies, including key industry players. ASML acknowledged potential impacts on its deep ultraviolet lithography system exports if enforced by Dutch authorities. However, the company emphasised its long-term demand projections remain intact, driven by global needs.
The Dutch government aligned with US security concerns but stressed independent threat assessments guide its export controls. New rules also impose tighter regulations on computational lithography software, vital for chip yield and quality, a field where ASML holds a leading position.
ASML shares rose modestly in Amsterdam trading, closing 0.9% higher at €664.10. Despite geopolitical headwinds, the firm reiterated confidence in the semiconductor industry’s overall growth trajectory.
Indonesia is set to tighten local content requirements for smartphones produced and sold domestically. The move, aimed at bolstering its manufacturing sector, follows last month’s ban on Apple’s iPhone 16 after failing to meet the current 40% local component threshold.
Apple has proposed a $100 million investment in an accessory and component plant to address the issue, but the government rejected the plan, citing fairness concerns. Deputy Industry Minister Faisol Reza confirmed ongoing discussions to finalise details of the updated requirements, though no timeframe or specific targets have been announced.
The government is considering whether research and development investments might count towards fulfilling local content rules. Apple’s developer academies, launched in Indonesia since 2018, have been seen as part of its compliance strategy for older models, though no manufacturing facilities exist in the country.
