Right-wing think tank claims digital markets bill is a ‘recipe for disaster’ September 19, 2023 Proposed legislation to regulate digital markets is a “recipe for disaster” and risks spooking tech companies by handing Britain’s competition watchdog unbridled power, according to a new paper by the Institute of Economic Affairs (IEA). The right-wing think tank has today published a paper which warns the Digital Markets, Competition and Consumers bill (DMCC) will [...]
New AI principles hint at pro-innovation future of UK regulation September 19, 2023 Britain’s competition watchdog has set out guidelines to steer the development of artificial intelligence (AI), which lawyers suggest could be a blueprint for a pro-innovation future of AI regulation. The Competition and Markets Authority (CMA) has proposed seven principles to guide the use and development of the foundation models that underpin AI giants like OpenAI’s [...]
Cambridge chip designer Riverlane aims to be the next Arm with quantum game-changer September 18, 2023 A Cambridge start-up aiming to rival chip designer Arm said it has made a significant breakthrough that could accelerate the development of quantum computers. Riverlane, which was spun out from Cambridge University and is valued at £150m, has created a “quantum decoder chip”, which it claims can fix high error rates — a problem that [...]
AI will grab jobs from people working from home first, warn Oxford professors September 18, 2023 Artificial intelligence (AI) is more likely to replace the jobs of people working from home, a study by two Oxford professors has warned. Work that can be done remotely is the most susceptible to automation, Oxford University AI academics Carl-Benedikt Frey and Michael Osborne have suggested in a draft paper. And AI is less likely [...]
Proton boss: UK banks won’t function if encryption disappears September 17, 2023 The issue of encryption has become a pressing conundrum for both tech companies and lawmakers involved in the UK’s Online Safety Bill in recent months. Now at least they agree that there is currently no viable technology to access messages without compromising user privacy. Encryption is a crucial way of turning messages into an unreadable [...]
Arm IPO pockets advisers $84m in bumper payday September 17, 2023 The float of British chipmaker Arm pocketed its advisors $84m worth of fees in the biggest payout bonanza in nearly five years, according to new analysis.
Arm Mk 2: Another British tech firm snubs London for New York float September 17, 2023 Imagination, which licences designs to companies including Apple, has quietly registered for a public listing in New York
TikTok fined £296m by watchdog over how it processed children’s data September 15, 2023 TikTok has been fined 345 million euro (£296 million) by Ireland’s data watchdog following an investigation into how the social media platform processed children’s data. The fine was imposed on TikTok Technology Limited (TTL) by the Data Protection Commission (DPC) after the probe into how certain privacy settings and features complied with obligations under the EU’s General Data [...]
Arm maintaining its lofty US valuation will be indicator for London IPO revival September 15, 2023 Shares in Softbank’s Arm have taken flight, surging nearly 25 per cent above their Nasdaq debut price, marking a triumphant return to the public markets after a seven-year hiatus for the chip designer. A loud reception has bolstered market experts’ optimism for beleaguered IPOs, which has faced substantial headaches in recent years, such as rising [...]
Tech Nation returns: Start-up network set for comeback under Brent Hoberman September 14, 2023 The start-up quango which controversially had its funding pulled by government this year is set to reopen in Birmingham under new ownership next month.