Regulators summon 34 online companies after imposing record fine on Alibaba
China’s tech companies have been given a month to fix anti-competitive practices and publicly pledge to follow the rules or risk suffering the same fate as ecommerce group Alibaba, which was fined $2.8bn at the weekend.
China’s market and internet regulators and the tax administration issued the ultimatum at a meeting on Tuesday with the country’s 34 leading tech companies, including Tencent, ByteDance, Meituan and Alibaba. Read More
Daily Archives: April 15, 2021
Europe eyes strict rules for artificial intelligence
Non-compliant companies could face a fine of up to €20 million or 4 percent of turnover.
The European Union wants to avoid the worst of what artificial intelligence can do — think creepy facial recognition tech and many, many Black Mirror episodes — while still trying to boost its potential for the economy in general.
According to a draft of its upcoming rules, obtained by POLITICO, the European Commission would ban certain uses of “high-risk” artificial intelligence systems altogether, and limit others from entering the bloc if they don’t meet its standards. Companies that don’t comply could be fined up to €20 million or 4 percent of their turnover. The Commission will unveil its final regulation on April 21. Read More
Rick's Cafe AI 