ChatGPT “occupational exposure” is a new area of study for jobs vulnerable to replacement by AI chatbots with strong language skills. A Princeton University survey suggests telemarketers, history teachers and sociologists are among those at risk, while physical laborers needn’t worry right now. A second study, by MIT graduate students, says language-dependent jobs are not destined for replacement, but are in for an AI assist. Asked to complete office tasks like writing press releases, emails and short reports, those using ChatGPT were 37 percent faster, and produced superior results. Continue reading Generative AI May Improve Knowledge Workers’ Productivity

With the federal government still in the early phase of regulating artificial intelligence, cities and states are stepping in as they begin to actively deploy AI. While managing traffic patterns is straightforward, when it comes to policing and hiring practices, precautions must be taken to guard against algorithmic bias inherited from training data. The challenges are formidable. As with human reasoning, it is often difficult to trace the logic behind a machine’s decisions, making it challenging to identify a fix. Municipalities are evaluating different solutions, the goal being to prevent programmatic marginalization. Continue reading AI Laws Becoming Decentralized with Cities First to Regulate

Nearly 37 percent of the world’s population has never used the Internet, according to the United Nations. That’s about 2.9 billion people yet to experience the technology most of the other 63 percent now take for granted. But many feel the Internet is ready for its third act, Web3 (also known as Web 3.0). Companies trying to figure out what Web3 means for their business models are not helped by the fact that there is dissent as to what it will be. Decentralized, relying on blockchain, connected to the metaverse are among the themes being discussed. Although there’s a lot being written, it’s all rather fuzzy at this time. Continue reading The Web3 Debate: Impending Revolution or Marketing Hype?

Non-fungible tokens (NFTs), digital assets stored on the blockchain, hit $10.7 billion in trading volume during the third quarter. It’s a serious pot of money and Hollywood wants a piece. Quentin Tarantino’s efforts to sell NFTs associated with his 1994 feature “Pulp Fiction” and Miramax’s lawsuit to prevent him from doing so without its own financial participation could prove seminal. While studios have undoubtedly begun adding “NFT” to contracts in express terms, the rulings as this first-in-class lawsuit wends its way through the courts will impact NFT rights for all previously made films. Continue reading Miramax’s Tarantino Lawsuit Forges a Path for Industry NFTs

President Biden, who named Big Tech critic Jonathan Kanter to lead the Justice Department’s antitrust division last week, has assembled a strong antitrust team to address concerns about the dominant strength and influence of major tech companies across industries including pharmaceuticals, agriculture, healthcare, commerce and finance. If confirmed by the Senate, Kanter will join the Federal Trade Commission’s chairperson Lina Khan, who is known for her work in antitrust and competition law, and Tim Wu, a long-time advocate of breaking up Big Tech who is now Biden’s special assistant for technology and competition policy. Continue reading Biden Assembles a Tough Antitrust Team to Rein In Big Tech

The House unveiled five bills aimed at curbing Big Tech companies, including the Ending Platform Monopolies Act, that requires “structural separation of Amazon” and makes it illegal for an online platform to own a business that uses said platform for “the sale or provision of products or services,” that “sells services as a condition for access to the platform” or that “owns businesses that create conflicts of interest.” Another bill would ban platforms from giving advantage its own products and services over those of a rival. Continue reading Lawmakers Introduce Bills to Address Dominance of Big Tech

Gaming platform Roblox went public on Wednesday and saw its shares rise from a reference price of $45 to $69.50, valuing the company at $45 billion. A year ago, the company was valued at $4 billion. The NPD Group reported that a record-breaking $56.9 billion was spent on gaming in the U.S. in 2020, up 27 percent from 2019. Sony enjoyed a 62 percent rise in profit, and Microsoft recorded a first-ever $5 billion in quarterly gaming revenue. In a hot gaming market, Roblox delayed its listing to more accurately price its shares. Continue reading Game Platform Roblox Goes Public, Now Valued at $45 Billion

The S&P 500 achieved record heights via the 37 percent rise in shares of the Big Five tech companies in the first seven months of 2020. Apple, Amazon, Alphabet, Microsoft and Facebook, the five largest publicly traded companies in the U.S., now account for 20 percent of the entire stock market’s total value. Meanwhile, according to Credit Suisse, all other stocks, fell a combined 6 percent. Apple’s valuation hit $2 trillion, the first U.S. company to do so, and only 21 weeks after its $1 trillion valuation. Continue reading Big Five Tech Companies Dominate the Rise in Stock Market

Amazon, Apple, Google, Facebook and Microsoft — the five largest U.S. tech firms — are speeding up their acquisitions, even as they are under antitrust investigation by federal officials and state attorneys general. By the end of June, the companies had disclosed 27 deals, up 29 percent from the same period last year, when they announced 21 deals. The increase in purchases could be used as proof by regulators and economists that these companies are using their wealth to dominate competitors and increase their market share. Continue reading Big Tech Firms Step Up Acquisitions Despite Antitrust Probes

In May, according to App Annie, the encrypted messaging app Signal was downloaded one million times worldwide, a result of both the COVID-19 pandemic and the more recent protests over George Floyd’s death and police brutality. Sensor Tower reports that Signal currently has 32.4 million installs. Privacy advocates have always been attracted to Signal’s ability to limit the information it can give to authorities. Signal’s end-to-end encryption is considered more secure than what is offered by Facebook’s WhatsApp and Apple’s iMessage. Continue reading Use of Messaging App Signal Skyrockets During Civil Unrest

In the economic crisis generated by the coronavirus pandemic, Big Tech companies like Amazon, Apple, Facebook and Google are thriving. Amazon and Facebook are viewed as essential services, and Apple and Google are working on tools that will help the nation’s state health departments trace COVID-19 infections. While funding for startups shrivels, these companies are hiring. Only months ago, these companies were embattled by regulators and privacy advocates. Now their lobbyists are working to delay California’s new privacy law. Continue reading Big Tech Firms Are Thriving in the Midst of Global Pandemic

Twitter and activist investor Elliott Management have come to an agreement to keep chief executive Jack Dorsey in his position, at least for now. Elliott Management, a $40 billion hedge fund that has a 4 percent stake in Twitter, sought to oust Dorsey from his position, claiming that, by splitting his attention between Twitter and Square, the chief executive let the former company lose its competitive edge and slip behind rivals. On February 21, Elliott nominated four candidates for Twitter’s board to add to the pressure. Continue reading Twitter Settles with Activist Investor, Dorsey Keeps Position

The Federal Trade Commission is contemplating a preliminary injunction against Facebook over antitrust issues related to its integration of apps and whether they work with competitors. The injunction could prevent Facebook from further integrating apps, and possibly reverse past integration as a step to breaking up the company. An injunction would require a majority vote of the five-member FTC. Prominent antitrust experts have presented a plan to separate Facebook from recent acquisitions Instagram and WhatsApp. Continue reading FTC Reportedly Considering an Injunction Against Facebook

The Democratic attorneys general of 13 states and the District of Columbia are suing to block the merger of T-Mobile and Sprint. According to legal experts, a suit in which so many states reject of the federal government’s settlement — and move to block it, without any federal support — is unprecedented. Merged, T-Mobile and Sprint, the third and fourth largest telecom carriers, would rival AT&T and Verizon Communications. The federal government approved the deal earlier this year, after demanding some concessions. Continue reading T-Mobile, Sprint Defend Proposed Merger in Federal Court

Google is tweaking its policies in advance of the 2020 presidential election. The company has decided to restrict just how minutely political advertisers can target an online audience. While advertisers will still be able to target ads based on age, gender, location and content of the websites that users visited, they will no longer be able to target audiences based on public voter records or political affiliations described as “left-leaning,” “right-leaning” or “independent.” Meanwhile, social giant Facebook is considering a similar move. Continue reading Google Reconsiders Micro-Targeted Ads Ahead of Election