Weekly News丨Meta fined for violating users’ privacy...

Weekly News

August 4-10, 2023

→ Cyberspace Administration of China plans to regulate facial recognition technology application 

→ Generative AI helps 70 percent Japanese enterprises shorten work hours

→ NFT digital bubble bursts 

→ China’s electric vehicle development accelerates to take the lead 

→ Chinese tech giants buy $5b chips from NVIDIA

→ Meta fined for violating users’ privacy 

→ TSMC reaches deal with Apple on chip defect cost 

→ AI PC era to start this fall: Intel CEO 

Industry Updates

Cyberspace Administration of China plans to regulate facial recognition technology application

The Cyberspace Administration of China has unveiled draft regulations and begun soliciting public opinions regarding the security management of facial recognition technology in order to regulate relevant technology use.

Generative AI helps 70 percent Japanese enterprises shorten work hours

The trend of improving work efficiency with the help of generative artificial intelligence (AI) is growing, according to Nihon Keizai Shimbun. Around 70 percent of Japan’s main enterprises plan to shorten their work hours this way. 

NFT digital bubble bursts

Due to the crash of encrypted currency (especially Bitcoin), the trade volume of the Non-Fungible Token (NFT) market has dropped 90 percent in the past two years, according to the website of Spain’s El País. The NFT digital bubble has burst.

[Photo/pixabay]

China’s electric vehicle development accelerates to take the lead

China’s domestic brands are taking the lead in the electric vehicle market in terms of development and application of advanced assistant driving system by leveraging their advantage of early entry into the industry, according to the website of Consumer News and Business Channel. 

Enterprise News

Chinese tech giants buy $5b chips from NVIDIA

Baidu, ByteDance, Tencent, and Alibaba ordered a $5 billion worth of chips from NVIDIA, according to the UK’s Financial Times. These chips are vital for developing AI systems.

Meta fined for violating users’ privacy

It is confirmed by the Norwegian Data Protection Authority that Meta, the parent company of US social media giant Facebook, will be fined one million kroner every day from August 14. 

TSMC reaches deal with Apple on chip defect cost

The Taiwan Semiconductor Manufacturing Company has reached a deal with Apple that when the company produces Apple’s customized chips, it will bear the relevant cost of product defects unavoidable during the new production process.

[Photo/pixabay]

AI PC era to start this fall: Intel CEO

The upcoming 14th generation Core processor will open up an AI PC era, said Intel CEO during a telephone conference on the company’s financial report of the second quarter in 2023. The processor is expected to be released at the third quarter of 2023. 

[Photo/pixabay]