Future of work

UK government confirms crypto as protected personal property

A significant shift in property law has occurred in the United Kingdom, as digital assets are gaining formal recognition as personal property.

The Property Digital Assets Act has received Royal Assent, giving owners of cryptocurrency and non-fungible tokens clearer legal rights and stronger protection. Greater certainty over ownership aims to reduce disputes and strengthen trust in the sector.

The government aims to boost the country’s position as a global centre for legal innovation, rather than merely reacting to technological change. The new framework reassures fintech companies that England, Wales and Northern Ireland can support modern commercial activity.

As part of a wider growth plan, the change is expected to stimulate further investment in a legal services industry worth more than £ 40 billion annually.

Traditional law recognised only tangible items and legal rights, yet digital assets required distinct treatment.

The Act creates a new category, allowing certain digital assets to be treated like other property, including being inherited or recovered during bankruptcy. With cryptocurrency fraud on the rise, owners now have a more straightforward path to remedy when digital assets are stolen.

Legal certainty also simplifies commercial activity for firms handling crypto transactions. The move aligns digital assets with established forms of property rather than leaving them in an undefined space, which encourages adoption and reduces the likelihood of costly disagreements.

The government expects the new clarity to attract more businesses to the UK and reinforce the country’s role in shaping future digital regulation.

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NSA warns AI poses new risks for operational technology

The US National Security Agency (NSA), together with international partners including Australia’s ACSC, has issued guidance on the secure integration of AI into operational technology (OT).

The Principles for the Secure Integration of AI in OT warn that while AI can optimise critical infrastructure, it also introduces new risks for safety-critical environments. Although aimed at OT administrators, the guidance also highlights issues relevant to IT networks.

AI is increasingly deployed in sectors such as energy, water treatment, healthcare, and manufacturing to automate processes and enhance efficiency.

The NSA’s guidance, however, flags several potential threats, including adversarial prompt injection, data poisoning, AI drift, and reduced explainability, all of which can compromise safety and compliance.

Over-reliance on AI may also lead to human de-skilling, cognitive overload, and distraction, while AI hallucinations raise concerns about reliability in safety-critical settings.

Experts emphasise that AI cannot currently be trusted to make independent safety decisions in OT networks, where the margin for error is far smaller than in standard IT systems.

Sam Maesschalck, an OT engineer, noted that introducing AI without first addressing pre-existing infrastructure issues, such as insufficient data feeds or incomplete asset inventories, could undermine both security and operational efficiency.

The guidance aims to help organisations evaluate AI risks, clarify accountability, and prepare for potential misbehaviour, underlining the importance of careful planning before deploying AI in operationally critical environments.

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Google drives health innovation through new EU AI initiative

At the European Health Summit in Brussels, Google presented new research suggesting that AI could help Europe overcome rising healthcare pressures.

The report, prepared by Implement Consulting Group for Google, argues that scientific productivity is improving again, rather than continuing a long period of stagnation. Early results already show shorter waiting times in emergency departments, offering practitioners more space to focus on patient needs.

Momentum at the Summit increased as Google announced new support for AI adoption in frontline care.

Five million dollars from Google.org will fund Bayes Impact to launch an EU-wide initiative known as ‘Impulse Healthcare’. The programme will allow nurses, doctors and administrators to design and test their own AI tools through an open-source platform.

By placing development in the hands of practitioners, the project aims to expand ideas that help staff reclaim valuable time during periods of growing demand.

Successful tools developed at a local level will be scaled across the EU, providing a path to more efficient workflows and enhanced patient care.

Google views these efforts as part of a broader push to rebuild capacity in Europe’s health systems.

AI-assisted solutions may reduce administrative burdens, support strained workforces and guide decisions through faster, data-driven insights, strengthening everyday clinical practice.

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ESMA could gain direct supervision over crypto firms

The European Commission has proposed giving the European Securities and Markets Authority (ESMA) expanded powers to oversee crypto and broader financial markets, aiming to close the regulatory gap with the United States.

The plan would give ESMA direct supervision of crypto service providers, trading venues, and central counterparties, while boosting its role in asset management coordination. Approval from the European Parliament and the Council is still required.

Calls for stronger oversight have grown following concerns over lenient national regimes, including Malta’s crypto licensing system. France, Austria, and Italy have called for ESMA to directly oversee major crypto firms, with France threatening to block cross-border licence passporting.

Revisions to the Markets in Crypto-Assets Regulation (MiCA) are also under discussion, with proposals for stricter rules on offshore crypto activities, improved cybersecurity oversight, and tighter regulations for token offerings.

Experts warn that centralising ESMA supervision may slow innovation, especially for smaller crypto and fintech startups reliant on national regulators. ESMA would need significant resources for the expanded mandate, which could slow decision-making across the EU.

The proposal aims to boost EU capital market competitiveness and increase wealth for citizens. EU stock exchanges currently account for just 73% of the bloc’s GDP, compared with 270% in the US, highlighting the need for a more integrated regulatory framework.

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Will the AI boom hold or collapse?

Global investment in AI has soared to unprecedented heights, yet the technology’s real-world adoption lags far behind the market’s feverish expectations. Despite trillions of dollars in valuations and a global AI market projected to reach nearly $5 trillion by 2033, mounting evidence suggests that companies struggle to translate AI pilots into meaningful results.

As Jovan Kurbalija argues in his recent analysis, hype has outpaced both technological limits and society’s ability to absorb rapid change, raising the question of whether the AI bubble is nearing a breaking point.

Kurbalija identifies several forces inflating the bubble, such as relentless media enthusiasm that fuels fear of missing out, diminishing returns on ever-larger computing power, and the inherent logical constraints of today’s large language models, which cannot simply be ‘scaled’ into human-level intelligence.

At the same time, organisations are slow to reorganise workflows, regulations, and skills around AI, resulting in high failure rates for corporate initiatives. A new competitive landscape, driven by ultra-low-cost open-source models such as China’s DeepSeek, further exposes the fragility of current proprietary spending and the vast discrepancies in development costs.

Looking forward, Kurbalija outlines possible futures ranging from a rational shift toward smaller, knowledge-centric AI systems to a world in which major AI firms become ‘too big to fail’, protected by government backstops similar to the 2008 financial crisis. Geopolitics may also justify massive public spending as the US and China frame AI leadership as a national security imperative.

Other scenarios include a consolidation of power among a handful of tech giants or a mild ‘AI winter’ in which investment cools and attention pivots to the next frontier technologies, such as quantum computing or immersive digital environments.

Regardless of which path emerges, the defining battle ahead will centre on the open-source versus proprietary AI debate. Both Washington and Beijing are increasingly embracing open models as strategic assets, potentially reshaping global standards and forcing big tech firms to rethink their closed ecosystems.

As Kurbalija concludes, the outcome will depend less on technical breakthroughs and more on societal choices, balancing openness, competition, and security in shaping whether AI becomes a sustainable foundation of economic life or the latest digital bubble to deflate under its own weight.

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OpenAI launches nationwide AI initiative in Australia

OpenAI has launched OpenAI for Australia, a nationwide initiative to unlock the economic and societal benefits of AI. The program aims to support sovereign AI infrastructure, upskill Australians, and accelerate the country’s local AI ecosystem.

CEO Sam Altman highlighted Australia’s deep technical talent and strong institutions as key factors in becoming a global leader in AI.

A significant partnership with NEXTDC will see the development of a next-generation hyperscale AI campus and large GPU supercluster at Sydney’s Eastern Creek S7 site.

The project is expected to create thousands of jobs, boost local supplier opportunities, strengthen STEM and AI skills, and provide sovereign compute capacity for critical workloads.

OpenAI will also upskill more than 1.2 million Australians in collaboration with CommBank, Coles and Wesfarmers. OpenAI Academy will provide tailored modules to give workers and small business owners practical AI skills for confident daily use.

The nationwide rollout of courses is scheduled to begin in 2026.

OpenAI is launching its first Australian start-up program with local venture capital firms Blackbird, Square Peg, and AirTree to support home-grown innovation. Start-ups will receive API credits, mentorship, workshops, and access to Founder Day to accelerate product development and scale AI solutions locally.

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EU partners with EIB to support AI gigafactories

The European Commission and the European Investment Bank Group (EIB) have signed a memorandum of understanding to support the development of AI Gigafactories across the EU. The partnership aims to position Europe as a leading AI hub by accelerating financing and the construction of large-scale AI facilities.

The agreement establishes a framework to guide consortia responding to the Commission’s informal Call for Expression of Interest. EIB advisory support will help turn proposals into bankable projects for the 2026 AI Gigafactory call, with possible co-financing.

The initiative builds on InvestAI, announced in February 2025, mobilising €20 billion to support up to five AI Gigafactories. These facilities will boost Europe’s computing infrastructure, reinforce technological sovereignty, and drive innovation across the continent.

By translating Europe’s AI ambitions into concrete, large-scale projects, the Commission and the EIB aim to position the EU as a global leader in next-generation AI, while fostering investment and industrial growth.

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€700 million crypto fraud network spanning Europe broken up

Authorities have broken an extensive cryptocurrency fraud and money laundering network that moved over EUR 700 million after years of international investigation.

The operation began with an investigation into a single fraudulent cryptocurrency platform and eventually uncovered an extensive network of fake investment schemes targeting thousands of victims.

Victims were drawn in by fake ads promising high returns and pressured via criminal call centres to pay more. Transferred funds were stolen and laundered across blockchains and exchanges, exposing a highly organised operation across Europe and beyond.

Police raids across Cyprus, Germany, and Spain in late October 2025 resulted in nine arrests and the seizure of millions in assets, including bank deposits, cryptocurrencies, cash, digital devices, and luxury watches.

Europol and Eurojust coordinated the cross-border operation with national authorities from France, Belgium, Germany, Spain, Malta, Cyprus, and other nations.

The second phase, executed in November, targeted the affiliate marketing infrastructure behind fraudulent online advertising, including deepfake campaigns impersonating celebrities and media outlets.

Law enforcement teams in Belgium, Bulgaria, Germany, and Israel conducted searches, dismantling key elements of the scam ecosystem. Investigations continue to track down remaining assets and dismantle the broader network.

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Google launches Workspace Studio for AI-powered automation

Google has made Workspace Studio generally available, allowing employees to design, manage, and share AI agents directly within Workspace. Powered by Gemini 3, these agents automate tasks ranging from simple routines to complex business workflows, all without coding.

The platform aims to save time on repetitive work, freeing employees to focus on higher-value activities.

Agents can understand context, reason through problems, and integrate with core Workspace apps such as Gmail, Drive, and Chat, as well as enterprise platforms like Asana, Jira, Mailchimp, and Salesforce.

Early adopters, including cleaning solutions leader Kärcher, have utilised Workspace Studio to streamline workflows, reducing planning time by up to 90% and consolidating multiple tasks into a single minute.

Workspace Studio allows users to build agents using templates or natural language prompts, making automation accessible to non-specialists. Agents can manage status reports, reminders, email triage, and critical tasks, such as legal notices or travel requests.

Teams can also easily share agents, ensuring collaboration and consistency across workflows.

The rollout to business customers will continue over the coming weeks. Users can start creating agents immediately, explore templates, use prompts for automations, and join the Gemini Alpha program to test early features and controls.

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Google boosts Nigeria’s AI development

The US tech giant, Google, has announced a $2.1 million Google.org commitment to support Nigeria’s AI-powered future, aiming to strengthen local talent and improve digital safety nationwide.

An initiative that supports Nigeria’s National AI Strategy and its ambition to create one million digital jobs, recognising the economic potential of AI, which could add $15 billion to the country’s economy by 2030.

The investment focuses on developing advanced AI skills among students and developers instead of limiting progress to short-term training schemes.

Google will fund programmes led by expert partners such as FATE Foundation, the African Institute for Mathematical Sciences, and the African Technology Forum.

Their work will introduce advanced AI curricula into universities and provide developers with structured, practical routes from training to building real-world products.

The commitment also expands digital safety initiatives so communities can participate securely in the digital economy.

Junior Achievement Africa will scale Google’s ‘Be Internet Awesome’ curriculum to help families understand safe online behaviour, while the CyberSafe Foundation will deliver cybersecurity training and technical assistance to public institutions, strengthening national digital resilience.

Google aims to create more opportunities similar to those of Nigerian learners who used digital skills to secure full-time careers instead of remaining excluded from the digital economy.

By combining advanced AI training with improved digital safety, the company intends to support inclusive growth and build long-term capacity across Nigeria.

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