Future of work

Basis lands $34 million to revolutionise accounting

Basis, an AI startup, has secured $34 million in a Series A funding round to develop its AI-powered accounting automation product. The round, led by Khosla Ventures, attracted a diverse group of investors, including NFDG (the AI-focused fund managed by former GitHub CEO Nat Friedman and ex-Apple executive Daniel Gross), OpenAI board members Larry Summers and Adam D’Angelo, and Google’s chief scientist Jeff Dean.

The New York-based company is part of a growing group of AI startups creating autonomous agents—systems capable of performing tasks independently. Basis’ product, designed specifically for accounting firms, can handle various workflows such as entering transactions, verifying data accuracy, and integrating with popular ledger systems like QuickBooks and Xero. The product has already shown promising results, with large firms like Wiss reporting a 30% reduction in time spent on manual accounting tasks. Basis functions similarly to a junior accountant, allowing staff to focus on reviewing the AI’s work rather than completing tasks themselves.

Basis also aims to address the critical shortage of accountants in the US, exacerbated by retiring baby boomers and a decline in younger generations entering the profession. According to the Bureau of Labor Statistics, the accounting sector employs over 3 million people, but the number of candidates sitting for the CPA exam has fallen by 33% between 2016 and 2021. The shortage has led many firms to outsource work to countries like India. Moreover, with AI’s potential to automate tasks traditionally performed by accountants, the sector is expected to experience significant disruption. A 2023 OpenAI paper suggested that automation powered by large language models could eventually impact all accountant and auditor roles.

Partnership aims to advance AI in electric vehicles

Synopsys and SiMa.ai, two Silicon Valley-based companies, have announced a partnership to accelerate the development of energy-efficient AI chips designed for automotive applications. Synopsys, a leader in chip-design software, will collaborate with SiMa.ai, a startup known for its low-power hardware and software tailored for diverse AI functions.

The collaboration aims to meet the increasing demand for advanced AI technologies in electric vehicles, where efficient energy use is critical. SiMa.ai’s technology supports a range of applications, from driver-assistance systems that improve safety to voice assistants enabling hands-free commands. These tools often require different types of hardware, and the partnership allows automakers to simulate and select the best combinations for their needs.

The companies see this as a step towards integrating features like voice assistants into cars within the next three years. SiMa.ai’s CEO, Krishna Rangasayee, highlighted the importance of adapting data centre-level AI performance into power-efficient solutions for vehicles, ensuring both high performance and minimal energy consumption.

New carbon removal tech targets paper mills and sewage

Major firms including Google, Stripe, and Shopify have pledged $80 million to support innovative carbon capture technologies, targeting emissions from paper mills and sewage plants in the US. This investment is part of the Frontier coalition’s strategy to develop cost-effective solutions for reducing atmospheric carbon.

Two start-ups, CO280 and CREW, will benefit from the funding. CO280 plans to deploy carbon capture technology adapted from the oil industry to trap emissions from paper mills. Meanwhile, CREW will enhance wastewater treatment processes with limestone to absorb carbon dioxide, leveraging rocks’ natural CO2-attracting properties.

The coalition’s aim is to drive down the cost of carbon removal to $100 per metric ton in the US, a significant reduction from current prices. Frontier’s head of deployment, Hannah Bebbington, highlighted the potential to integrate these technologies into older industries, paving the way for large-scale, affordable carbon removal in the near future.

EU begins work on major satellite network

The European Union has officially launched the development of its IRIS² satellite constellation, a €10.6 billion initiative designed to enhance secure governmental communications and secure Europe’s digital independence. The project, involving over 280 satellites, is set to provide encrypted services for EU governments while also supporting new commercial opportunities.

Amid rising concerns about digital sovereignty and the rapid expansion of competing networks like Elon Musk’s Starlink, IRIS² marks the EU’s third major space programme after Galileo and Copernicus. Despite initial setbacks, including disputes over costs and industrial work shares, the European Space Agency expects the first launch by mid-2029 and full deployment by the end of 2030.

The project’s development has not been without challenges. Europe’s leading satellite manufacturers, Airbus and Thales Alenia Space, withdrew from the main consortium due to financial concerns but remain involved as suppliers. IRIS² aims to position Europe as a competitive force in a market currently dominated by Starlink and Amazon’s Kuiper network.

Parliamentarians urged to bridge the global digital divide

At the ‘IGF Parliamentary Track – Session 1’ session in Riyadh, parliamentarians, diplomats, and digital experts gathered to address persistent gaps in global digital governance. The session spotlighted two critical UN-led initiatives: the World Summit on the Information Society (WSIS) and the Global Digital Compact (GDC), underscoring their complementary roles in bridging the digital divide and addressing emerging digital challenges like AI and data governance.

Ambassador Muhammadou M.O. Kah, Chair of the Commission for Science and Technology for Development, stressed the urgency of digital inclusion. ‘Digital technologies are transforming our world at a remarkable pace, but we must confront the persistent divide,’ he said, remembering that twenty years after WSIS first set out a vision for an inclusive digital society, one-third of the world’s population remains unconnected, with inequalities deepening between urban and rural areas, genders, and socioeconomic groups.

The Global Digital Compact, introduced as a ‘refresh’ of WSIS priorities, emerged as a key focus of the discussion. From the UN Tech Envoy’s Office, Isabel de Sola presented the GDC’s five pillars: affordable internet access, tackling misinformation, data governance, fostering inclusive digital economies, and ensuring safe AI implementation. De Sola emphasised, ‘We need a holistic approach. Data governance, AI, and connectivity are deeply interconnected and must work in tandem to serve society fairly.’

Sorina Teleanu, the session’s moderator and Head of knowledge at Diplo, highlighted the need for urgent action, stating: ‘We have the Global Digital Compact, but what’s next? It’s about implementation—how we take global commitments and turn them into real, practical solutions at national and local levels,’ she urged parliamentarians to exercise their oversight role and push for meaningful progress.

The session exposed a growing disconnect between governments and parliaments on digital policy. Several parliamentarians voiced concerns about exclusion from international processes that shape national legislation and budgets. ‘We cannot act effectively if we are not included or informed,’ a delegate from South Africa noted, calling for better integration of lawmakers into global frameworks like the GDC and WSIS.

To close these gaps, speakers proposed practical solutions, including capacity-building programs, toolkits for mapping GDC priorities locally, and stronger regional parliamentary networks. ‘Parliamentarians are closest to the people’ Ambassador Kah reminded attendees, ‘they play a crucial role in translating global commitments into meaningful local action’

The discussion ended with a renewed call for collaboration: greater inclusion of lawmakers, better alignment of international frameworks with local needs, and stronger efforts to bridge the digital divide. As the world approaches WSIS’ 20-year review in 2025, the path forward requires a unified, inclusive effort to ensure digital advancements reach all corners of society.

All transcripts from the Internet Governance Forum sessions can be found on dig.watch.

Digital futures at a crossroads: aligning WSIS and the Global Digital Compact

The path toward a cohesive digital future was the central theme at the ‘From WSIS to GDC: Harmonising Strategies Towards Coordination‘ session held at the Internet Governance Forum (IGF) 2024 in Riyadh. Experts, policymakers, and civil society representatives converged to address how the World Summit on the Information Society (WSIS) framework and the Global Digital Compact (GDC) can work in unison. At the heart of the debate lay two critical imperatives: coordination and avoiding fragmentation.

Panelists, including Jorge Cancio of the Swiss Government and David Fairchild of Canada, underscored the IGF’s central role as a multistakeholder platform for dialogue. However, concerns about its diminishing mandate and inadequate funding surfaced repeatedly. Fairchild warned of ‘a centralisation of digital governance processes,’ hinting at geopolitical forces that could undermine inclusive, global cooperation. Cancio urged an updated ‘Swiss Army knife’ approach to WSIS, where existing mechanisms, like the IGF, are strengthened rather than duplicated.

The session also highlighted emerging challenges since WSIS’s 2005 inception. Amrita Choudhury from MAG and Anita Gurumurthy of IT for Change emphasised that AI, data governance, and widening digital divides demand urgent attention. Gurumurthy lamented that ‘neo-illiberalism,’ characterised by corporate greed and authoritarian politics, threatens the vision of a people-centred information society. Meanwhile, Gitanjali Sah of ITU reaffirmed WSIS’s achievements, pointing to successes like digital inclusion through telecentres and distance learning.

Amid these reflections, the IGF emerged as an essential event for harmonising WSIS and GDC goals. Panellists, including Nigel Cassimire from the Caribbean Telecommunications Union, proposed that the IGF develop performance targets to implement GDC commitments effectively. Yet, as Jason Pielemeier of the Global Network Initiative cautioned, the IGF faces threats of co-optation in settings hostile to open dialogue, which ‘weakens its strength.’

Despite these tensions, hope remained for creative solutions and renewed international solidarity. The session concluded with a call to refocus on WSIS’s original principles—ensuring no one is left behind in the digital future. As Anita Gurumurthy aptly summarised: ‘We reject bad politics and poor economics. What we need is a solidarity vision of interdependence and mutual reciprocity.’

All transcripts from the Internet Governance Forum sessions can be found on dig.watch.

Advancing gender equality in the digital age: UN Women and ITU outline strategies for the GDC

Global digital policies and initiatives addressing gender equality were the focus of a recent forum on the Global Digital Compact (GDC). Participants examined strategies to close gender gaps in AI, digital access, and technology leadership, with an emphasis on mainstreaming gender perspectives into digital strategies. The conversation highlighted the urgency of tackling barriers faced by women in accessing and benefiting from technology.

Speakers pointed to the persistent digital gender divide, noting that 189 million more men than women use the internet globally. Papa Seck from UN Women stressed the importance of collecting gender-disaggregated data to guide policy decisions and track progress. Discussions also emphasised the need for safer online spaces for women and measures to combat technology-facilitated gender-based violence.

Promoting women’s digital skills and representation in STEM fields emerged as key priorities. Helene Molinier, representing UN Women’s Action Coalition, called for targeted investments in digital education for women and girls. Roy Eriksson, Finland’s Global Gateway Ambassador, highlighted the role of multi-stakeholder partnerships in implementing gender-responsive initiatives. Radka Sibille of the EU delegation advocated for inclusive policies to ensure women are not left behind in the digital economy.

The role of digital public infrastructure (DPI) in fostering gender equality was also discussed. Hajjar El Haddaou of the Digital Cooperation Organization emphasised the importance of designing DPI solutions with a gender-responsive approach. Participants agreed that collaboration among governments, private sector actors, and civil society is essential to achieve these goals.

Looking forward, participants proposed integrating gender considerations into global initiatives such as the Beijing+30 review and establishing a dedicated gender action line within the World Summit on the Information Society (WSIS). Caitlin Kraft-Buchman from Women at the Table urged sustained efforts across UN processes to ensure gender equality remains a central focus in digital policy-making.

The forum concluded with optimism about the potential of technology to empower women and drive progress. However, participants underscored the need for continued cooperation and investment to bridge the digital gender divide and build an inclusive digital future for all.

United Nations takes steps to safeguard submarine cables

The United Nations has established a dedicated body to safeguard submarine cables, which transmit over 99% of global data, including emails, video streams, and government communications. The initiative aims to address the vulnerability of this critical infrastructure to natural disasters, accidents, and suspected acts of sabotage. Around 200 cable failures are reported annually, with incidents such as a 2022 tsunami cutting off the Pacific island of Tonga for a month.

The new body, comprising 40 experts from public and private sectors, will focus on ensuring cables are built and maintained with greater resilience. While its mandate does not extend to investigating potential sabotage, it seeks to expedite repairs and minimise disruptions. ITU Deputy Secretary-General Tomas Lamanauskas emphasised the importance of this effort, citing the impact cable failures have on economies and societies worldwide.

As cable disruptions become increasingly common, experts believe the UN’s efforts will help stabilise a crucial global network. A follow-up summit in Nigeria is planned for February, continuing discussions on enhancing undersea cable resilience and safeguarding international data flow.

AI agents set to transform businesses in 2025

Autonomous agents and profitability are predicted to define the AI landscape in 2025, according to industry experts. These agents, designed to perform tasks like scheduling or making purchases without direct user input, are gaining momentum due to advancements in reasoning techniques. OpenAI CFO Sarah Friar anticipates rapid progress in this area, emphasising their potential to simplify everyday activities.

The emergence of step-by-step reasoning methods, exemplified by OpenAI’s recent models, has paved the way for this evolution. Friar, who joined the Microsoft-backed company earlier this year, also highlighted the approaching milestone of AGI, predicting its arrival in the near term. Such developments promise to reshape the capabilities of AI, enabling it to surpass human efficiency in economically valuable tasks.

Industry leaders are already witnessing the transformative impact of AI. George Mathew from Insight Partners cited significant productivity gains, such as digital sales teams that operate at a fraction of traditional labour costs. Similarly, Molly Alter of Northzone forecasted 2025 as a turning point for AI profitability, shifting the focus from growth to improved profit margins through streamlined processes.

Beyond startups, established firms are integrating AI into their workflows. For example, BNY Mellon has equipped thousands of employees with tools to create AI-powered agents. CEO Robin Vince highlighted these tools’ ability to deliver insights and solutions that were previously unattainable, underscoring AI’s growing role in enhancing business efficiency and client services.

Swiss robotics firm Anybotics secures $60M to expand in the US

Swiss robotics firm Anybotics has raised an additional $60 million, closing its Series B round at $110 million. Known for its Anymal quadruped robot, the company focuses on automating routine inspections in complex industrial environments such as oil and gas, mining, and utilities. Equipped with sensors and cameras, Anymal enhances safety and productivity by detecting issues like thermal anomalies and gas leaks, minimising human exposure to hasardous areas.

Since first announcing the Series B round 18 months ago, the Swiss Zürich-based startup has doubled its robot deployments, with nearly 200 units now operational across various industries. Clients include major companies such as Novelis and Iamgold, as well as Stanford University, which uses the technology for advanced research.

The new funding will support Anybotics’ expansion into the US following the opening of its San Francisco office. Co-led by Qualcomm Ventures and Supernova Invest, the investment ensures the company can scale its operations globally, with plans for a broader product portfolio and industry applications in the future.