Jack Ma, co-founder of Alibaba, made a rare public appearance on Sunday, expressing optimism about the future of Ant Group, the fintech affiliate he also helped establish. Speaking at Ant’s 20th-anniversary celebration, Ma highlighted the transformative potential of AI, stating that the changes driven by AI in the next two decades will surpass current expectations. His remarks, reported by Chinese media outlet 36kr, marked a notable return to the spotlight following his retreat from public life amid regulatory challenges.
Reflecting on Ant Group’s turbulent journey, Ma acknowledged the value of criticism and encouragement in fostering the company’s growth. Ant, the operator of China’s leading mobile payment app Alipay, faced a regulatory crackdown after Ma’s public critique of Chinese regulators in 2020. This led to the cancellation of Ant’s $300 billion IPO, followed by a stringent overhaul of its operations to align with financial regulations. The reforms included Ma relinquishing control of the company in 2023.
Despite these challenges, Ant is charting a path forward, underscored by a leadership transition announced Sunday. President Cyril Han will succeed Eric Jing as CEO starting March 1, 2024. Ma’s renewed confidence in Ant’s potential, especially in the AI era, signals a fresh chapter for the fintech giant as it emerges from years of regulatory scrutiny.
Google has rolled out a comprehensive feature update for Pixel and Android devices this December, introducing smarter tools and usability enhancements. Key among these is the expansion of Gemini AI extensions, enabling seamless interactions with Spotify, messaging, and smart home devices. Gemini now remembers user preferences, such as dietary habits, to provide personalised suggestions. It also powers enhanced accessibility tools, such as image Q&A in the Lookout app for visually impaired users.
Pixel devices received significant upgrades, including theft-protection updates requiring biometric authentication for sensitive changes. Expressive captions were introduced to reflect emotions like whispering or applause in Android content. The Pixel 9 series stands out with improved screenshot management, HDR support for Instagram, and smarter call-screening features. Pixel Fold devices now offer a dual-screen portrait mode, enhancing photo framing.
Wearables and tablets weren’t left out. The Pixel Watch now integrates with Nest Doorbell, allowing users to view visitors at the door. Expanded fitness metrics are now available across various Pixel and Fitbit models, while the Pixel Tablet gained support for VPNs and new lock screen widgets.
FCC Chairwoman Jessica Rosenworcel has proposed requiring US communications providers to certify annually that they have plans to defend against cyberattacks. The move comes amid growing concerns over espionage by ‘Salt Typhoon,’ a hacking group allegedly linked to Beijing that has infiltrated several American telecom companies to steal call data.
Rosenworcel highlighted the need for a modern framework to secure networks as US intelligence agencies assess the impact of Salt Typhoon’s widespread attack. A senior US official confirmed the hackers had stolen metadata from numerous Americans, breaching at least eight telecom firms.
The FCC proposal, which Rosenworcel has circulated to other commissioners, would take effect immediately if approved. The announcement follows a classified Senate briefing on the breach, but industry giants like Verizon, AT&T, and T-Mobile have yet to comment.
A senior US official revealed that a Chinese hacking group, known as ‘Salt Typhoon,’ has stolen vast amounts of Americans’ metadata in a broad cyberespionage effort targeting US telecommunications. While specific figures remain undisclosed, the hackers are said to have breached at least eight American telecom firms, including Verizon, AT&T, and T-Mobile.
Call record metadata — detailing who called whom, when, and where — was a key target, exposing sensitive personal and professional patterns. In some cases, telephone audio intercepts were also reportedly stolen. The campaign remains active, with the White House prioritising efforts to counter the intrusions.
Government agencies, including the FBI and the National Security Council, have briefed lawmakers and President Joe Biden on the matter, highlighting the severity of the breach. Efforts to secure the nation’s telecommunications infrastructure are ongoing.
The UK Competition and Markets Authority (CMA) has approved the merger between Vodafone and Three, two of the country’s largest telecom operators, in a $19 billion deal. The merger, which has faced intense scrutiny, was initially investigated due to concerns over potential price hikes, reduced services, and lower investments in mobile networks. However, the CMA approved the deal with conditions to address these concerns, including commitments for significant investment in a nationwide 5G network.
The companies must also cap mobile tariffs for the next three years and maintain contractual terms for mobile virtual network operators (MVNOs) during that period. The CMA’s decision marks a shift from previous cases where “4-3” mergers in the telecom sector were allowed only with significant structural changes. This approval is seen as a pragmatic approach, with the CMA confident that competition will be strengthened by a well-resourced trio of mobile operators in the UK.
Vodafone’s CEO, Margherita Della Valle, welcomed the approval, emphasising the benefits for consumers and businesses, including wider coverage and faster mobile speeds. The merger is expected to accelerate the UK’s position in European telecommunications, with a combined investment in the sector. The CMA and Ofcom will oversee the implementation of the agreed measures to ensure competition is maintained.
US agencies have briefed senators on ‘Salt Typhoon,’ a Chinese cyber-espionage campaign allegedly targeting American telecommunications networks. Officials claim the hackers stole call metadata and other sensitive information, affecting at least eight US telecom firms and dozens of companies worldwide. The breaches have sparked bipartisan concern, with some senators pressing for stronger preventive measures and legislation.
Telecom giants like Verizon, AT&T, and T-Mobile acknowledged the incidents but downplayed the impact on customer data. Federal agencies, including the FBI and Cybersecurity and Infrastructure Security Agency, emphasised the challenge of fully removing hackers from networks, while incoming FCC Chair Brendan Carr pledged to strengthen cybersecurity defences.
China has denied the allegations, calling them disinformation. Meanwhile, a Senate subcommittee hearing on December 11 will focus on the risks posed by such cyber threats and explore ways to protect US communications infrastructure.
A senior United States cybersecurity official has urged Americans to embrace encryption to safeguard their communications, citing ongoing efforts to expel alleged Chinese hackers from US telecom networks. Jeff Greene, Executive Assistant Director for Cybersecurity at the Cybersecurity and Infrastructure Security Agency (CISA), emphasised the importance of avoiding plaintext communications and recommending encrypted apps like Signal and WhatsApp.
US authorities have accused hackers from China of infiltrating telecommunications companies, such as T-Mobile, to access sensitive data, including call records and intercepted audio, predominantly from Washington, DC. Beijing has denied the allegations, calling them disinformation. Greene acknowledged that removing the hackers entirely from the networks could take an unpredictable amount of time, further underscoring the need for encryption to ensure secure communications.
The advice marks a notable shift from previous US government positions that questioned strong encryption’s impact on public safety. As concerns over foreign cyber intrusions grow, Greene’s remarks highlight encryption as a critical tool for Americans facing prolonged cybersecurity threats.
AT&T has unveiled plans to achieve over $18 billion in free cash flow by 2027, supported by its fibre and 5G network expansions across the US. Shares rose over 4%, reaching their highest level since May 2021, as the company detailed its growth strategy at an investor presentation.
The wireless giant plans to double fibre internet coverage while improving 5G connectivity. It aims to create bundled packages combining high-speed fibre data and wireless phone services to attract more customers. Current fibre coverage of 28.3 million locations is expected to exceed 50 million by 2029.
Customer demand has been bolstered by AT&T’s unlimited plans, which feature added benefits like extra hotspot data. Over the next three years, the company intends to return $40 billion to shareholders through dividends and share buybacks while maintaining annual capital investments of $22 billion.
The company raised its 2024 adjusted earnings per share forecast to between $2.20 and $2.25, slightly above analyst expectations. It also plans to exit its legacy copper network operations by 2029 and recently reported $16.77 billion in free cash flow for 2023.
The Netherlands Authority for Consumers and Markets (ACM) is receiving complaints related to the Digital Services Act (DSA), but it currently lacks formal authority to act until the law is fully transposed by the national parliament. The DSA, which aims to regulate large online platforms and protect users, became applicable in February 2024, but enforcement will only begin once the Netherlands passes the necessary implementing legislation.
Martijn Snoep, Chairman of the ACM, highlighted that enforcement under the DSA is expected to lead to clashes between regulators and Big Tech leaders, although he plans to approach this more neutrally. The ACM focuses on three main areas: ensuring platforms comply with basic rules, protecting minors online, and tackling irresponsible hosting providers. While the Dutch regulator is investigating non-compliant companies, it cannot yet take enforcement actions against foreign firms or force them to share information.
The ACM has received 227 complaints, mostly regarding companies based outside the Netherlands, and while it can redirect these to other regulators, it cannot yet act on them. Snoep emphasised that, despite challenges, the Netherlands is preparing to enhance its regulatory capacity to ensure fair compliance, though he prefers waiting before introducing new legislation on emerging issues like online child safety or advertising.
Despite the slow start, the ACM is confident that over time, as the industry adapts to a more regulated environment, digital platforms will gradually become more compliant with the DSA’s requirements.
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.
