EU demands clarity from Microsoft on AI risks in Bing
The European Commission could fine Microsoft if it doesn’t provide adequate information on risks stemming from generative AI features in search engine Bing by May 27.
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AI, ’s use in finance may need new rules, ECB says
The European Central Bank stated that the use of artificial intelligence in finance is still in its early stages and needs to be monitored and possibly regulated to prevent harm to consumers and ensure market functioning.
Will markets keep up gains this year?
The CEO of a financial advisory and fintech firm predicts that the US and European stock market rallies will continue despite the US central bank potentially not cutting rates until 2025. The expectation is based on strong earnings growth, especially in AI-focused companies, and positive economic forecasts from institutions like the IMF and Bloomberg. Additionally, signs of economic rebound in China and Europe are contributing to the optimistic outlook. The anticipation of interest rate cuts in response to a potential economic slowdown is also seen as a factor that could bolster equities. Savvy investors are advised to adopt strategic approaches to capitalize on the upward momentum while managing potential risks. April’s US consumer price index report is awaited, with traders hoping for no return to rate hikes by the Federal Reserve. Both narratives point to a likely continuation of stock market gains, with investors advised to top up their portfolios judiciously with guidance from financial advisors.
‘Choose France’ investment push bags record $16 billion in pledges
France won a record 15 billion euros in foreign investment pledges, with Microsoft announcing a 4 billion euro investment in cloud and AI infrastructure. Other companies like Amazon, Pfizer, AstraZeneca, and Novartis also pledged investments in France. Macron’s administration has faced criticism over public finances but has focused on attracting foreign investments to create jobs and boost the economy.
World Tai Chi and Qigong Day marked in Cyprus first time
Over 90 countries celebrated World Tai Chi and Qigong Day on the last Saturday in April at 10am local time. The event has been happening for over 25 years, with more countries participating each time. This year, for the first time in Cyprus, a Tai Chi teacher led her students in a form at Eleftheria Square in Nicosia to highlight the health benefits of Tai Chi and Qigong.
Meta to expand AI image generation offerings for ads
Meta Platforms is expanding its suite of generative AI ads products to offer tools that can automatically create variations of images and overlay text atop them. The tool will launch in test form without watermarks, and Meta is still working on how labelling will work for ads. The company is also adding text-generation offerings for headlines and key selling points, as well as the capability to overlay text onto generated images directly. Advertisers will be able to upload images of their products and generate other versions by adjusting orientation or showing people using them in different settings.
Google DeepMind unveils next generation of drug discovery AI model
Fact: Google Deepmind has unveiled the third major version of its “AlphaFold” artificial intelligence model, designed to help scientists design drugs and target diseases more effectively.
Reddit shares soar as earnings show advertising, AI licensing revenue potential
Reddit shares soared 14% after strong revenue growth and improving profitability in its first earnings since its market debut.
Warren Buffett said he could make a 50% return on $1 million and predicted higher taxes. Here are 14 Q&A nuggets.
Warren Buffett said he could make a 50% return on million.
OpenAI plans to announce Google search competitor on Monday, sources say
OpenAI plans to announce its artificial intelligence-powered search product on Monday, raising the stakes in its competition with Google.