ReportWire

Tag: iab-technology & computing

  • TikTok says it has 150 million US users amid renewed calls for a ban | CNN Business

    TikTok says it has 150 million US users amid renewed calls for a ban | CNN Business

    [ad_1]



    CNN
     — 

    TikTok now has 150 million monthly active users in the United States, CEO Shou Chew confirmed on Tuesday, in a clear attempt to highlight the platform’s vast and growing reach in the country amid renewed calls for a ban.

    “That’s almost half the US coming to TikTok to connect, to create, to share, to learn, or just to have some fun,” Chew said in a TikTok video on Tuesday. The figure also includes about five million businesses that use TikTok to reach customers, Chew said.

    The new disclosure comes just days before Chew is scheduled to appear before a Congressional committee to defend the fate of the app in the United States. A growing number of lawmakers in the United States and abroad have raised national security concerns about the short-form video app because of TikTok’s ties to China through its parent company, ByteDance.

    TikTok acknowledged to CNN last week week that federal officials are demanding the app’s Chinese owners sell their stake in the social media platform, or risk facing a US ban of the app. In 2020, when the Trump administration made a similar threat, TikTok said it had 100 million US users.

    “Now, this comes at a pivotal moment for us,” Chew said in the video Tuesday. “Some politicians have started talking about banning TikTok, now this could take TikTok away from all 150 million of you.”

    “I’ll be testifying before Congress later this week to share all that we’re doing to protect Americans using the app and deliver on our mission to inspire creativity and to bring joy,” Chew added.

    The Singaporean chief executive ended his brief video by appealing to users on the app to leave comments on the clip telling lawmakers directly, “What you want your elected representatives to know about what you love about TikTok.”

    Chew is scheduled to appear before the House Energy and Commerce Committee on Thursday morning to “testify on TikTok’s consumer privacy and data security practices, the platforms’ impact on kids, and its relationship with the Chinese Communist Party,” according to a statement last week from the committee.

    [ad_2]

    Source link

  • Google begins rolling out its ChatGPT rival | CNN Business

    Google begins rolling out its ChatGPT rival | CNN Business

    [ad_1]



    CNN
     — 

    Google is opening up access to Bard, its new AI chatbot tool that directly competes with ChatGPT.

    Starting Tuesday, users can join a waitlist to gain access to Bard, which promises to help users outline and write essay drafts, plan a friend’s baby shower, and get lunch ideas based on what’s in the fridge.

    A company representative told CNN it will be a separate, complementary experience to Google Search, and users can also visit Search to check its responses or sources. Google said in a blog post it plans to “thoughtfully” add large language models to search “in a deeper way” at a later time.

    Google said it will start rolling out the tool in the United States and United Kingdom, and plans to expand it to more countries and languages in the future.

    The news comes as Google, Microsoft, Facebook and other tech companies race to develop and deploy AI-powered tools in the wake of the recent, viral success of ChatGPT. Last week, Google announced it is also bringing AI to its productivity tools, including Gmail, Sheets and Docs. Shortly after, Microsoft announced a similar AI upgrade to its productivity tools.

    Google unveiled Bard last month in a demo that was later called out for providing an inaccurate response to a question about a telescope. Shares of Google’s parent company Alphabet fell 7.7% that day, wiping $100 billion off its market value.

    Like ChatGPT, which was released publicly in late November by AI research company OpenAI, Bard is built on a large language model. These models are trained on vast troves of data online in order to generate compelling responses to user prompts. The immense attention on ChatGPT reportedly prompted Google’s management to declare a “code red” situation for its search business.

    But Bard’s blunder highlighted the challenge Google and other companies face with integrating the technology into their core products. Large language models can present a handful of issues, such as perpetuating biases, being factually incorrect and responding in an aggressive manner.

    Google acknowledged in the blog post Tuesday that AI tools are “not without their faults.” The company said it continues to use human feedback to improve its systems and add new “guardrails, like capping the number of exchanges in a dialogue, to try to keep interactions helpful and on topic.”

    Last week, OpenAI released GPT-4, the next-generation version of the technology that powers ChatGPT and Microsoft’s new Bing browser, with similar safeguards. In the first day after it was unveiled, GPT-4 stunned many users in early tests and a company demo with its ability to draft lawsuits, pass standardized exams and build a working website from a hand-drawn sketch.

    [ad_2]

    Source link

  • DeSantis needles Trump as he breaks silence on hush money case | CNN Politics

    DeSantis needles Trump as he breaks silence on hush money case | CNN Politics

    [ad_1]



    CNN
     — 

    Breaking his silence on Donald Trump’s legal troubles, Florida Gov. Ron DeSantis on Monday criticized the Manhattan district attorney who is pursuing charges against the former president and vowed his office would not be involved if the matter trickles into Trump’s adopted home state.

    But DeSantis, a rising rival for the 2024 Republican presidential nomination, stopped well short of offering support for the former president and instead seemed to poke fun at the situation Trump has found himself in as he attempts a political comeback and a third campaign for the White House. A grand jury is in the final stages of determining whether Trump should face charges over an alleged payment to adult film star Stormy Daniels related to a supposed affair.

    “I don’t know what goes into paying hush money to a porn star to secure silence over some type of alleged affair,” DeSantis said as laughter broke out at a news conference in Panama City, Florida. “I just, I can’t speak to that.”

    DeSantis added: “I’ve got real issues to deal with here in the state of Florida.”

    The dismissive quips traveled quickly across the state to Mar-a-Lago, where Trump has decamped while he awaits for word on the New York grand jury’s findings. His allies immediately started attacking DeSantis across social media, suggesting he would face a political price for failing to recognize Republicans are rallying around Trump amid his mounting legal threats.

    Trump responded in a statement posted to his social media site, Truth Social, leveling a series of personal attacks against DeSantis.

    “Ron DeSanctimonious will probably find out about FALSE ACCUSATIONS & FAKE STORIES sometime in the future, as he gets older, wiser, and better known, when he’s unfairly and illegally attacked by a woman, even classmates that are ‘underage’ (or possibly a man!). I’m sure he will want to fight these misfits just like I do!” Trump wrote.

    As part of the post Trump also shared a photo that suggested DeSantis had behaved inappropriately with teenage girls while teaching history in Georgia in his early 20s, an image the former president previously shared on social media to go after the Florida governor.

    The episode Monday was illustrative of the increasingly fraught rivalry between two of the GOP’s biggest stars as they battle for party supremacy — one made more awkward by their proximity inside the Sunshine State. Trump has suggested his arrest is forthcoming, and if he is in Florida at that moment, it could require a coordinated effort by police in DeSantis’ state.

    DeSantis said he is not aware of any arrangements with local law enforcement regarding Trump, and he said he had “no interest in getting involved in some type of manufactured circus.”

    The delayed remarks by DeSantis stand in stark contrast to the forceful defense he offered on Trump’s behalf last August when federal authorities seized documents from the former president’s Palm Beach estate. Just hours after the raid, DeSantis on Twitter called the FBI search at Mar-a-Lago “another escalation in the weaponization of federal agencies against the regime’s political opponents, while people like Hunter Biden get treated with kid gloves.”

    But there was no such tweet this time from DeSantis, who had remained quiet for days amid reports that a New York grand jury was interviewing witnesses and has largely avoided discussing Trump at all amid escalating attacks from the former president and his allies. DeSantis instead last week held events focused on relief for Hurricane Ian victims and the pandemic. He posted a picture from the World Baseball Classic picture standing next to the Miami Marlins mascot.

    Over the weekend, as other Republicans criticized Manhattan District Attorney Alvin Bragg, a Democrat, for pursuing charges in a case that dates back to the 2016 election, Trump allies engaged in a coordinated pressure campaign to get DeSantis to speak out in defense of the former president.

    “Thank you, Vice President @Mike_Pence and @VivekGRamaswamy, for pointing out how Radical Left Democrats are trying to divide our Country in the name of Partisan Politics,” Trump campaigdn adviser Jason Miller wrote on Twitter. “Radio silence from Gov. @RonDeSantisFL and Amb. @NikkiHaley.”

    Trump’s son, Donald Trump Jr., wrote in a tweet on Sunday: “Pay attention to which Republicans spoke out against this corrupt BS immediately and who sat on their hands and waited to see which way the wind was blowing.”

    MAGA, Inc sent several emails tracking which Republicans had commented on the potential criminal charges and hitting DeSantis for “remaining silent.” Trump allies acknowledged that this was a concerted effort to force DeSantis to weigh in on the matter, believing that he would have to offer support to Trump.

    When DeSantis finally weighed in Monday, it came during an unrelated press conference about central bank digital currencies, a recent area of concern among some conservatives but hardly the topic of the day, given the revelations about Trump’s legal case. He didn’t address Trump’s legal situation until asked by an individual from the Florida Standard, a conservative website friendly to DeSantis.

    DeSantis echoed other criticism of Bragg, accusing the Democrat of seeking charges against Trump for political reasons. He compared Bragg to the local state attorney in Tampa, Andrew Warren, who DeSantis controversially removed from office last year over his politics, and linked them both to George Soros, the Hungarian-born billionaire and progressive donor often at the center of conservative conspiracies.

    “If you have a prosecutor who is ignoring crimes happening every single day in his jurisdiction, and he chooses to go back many, many years ago to try to use something about porn star hush money payments, you know, that’s an example of pursuing a political agenda and weaponizing the office, and I think that that’s fundamentally wrong,” DeSantis said.

    But DeSantis also seemed to downplay Bragg’s pursuit of Trump as a lesser concern compared to issues related to crime in the city.

    “That’s bad, but the real victims are ordinary New Yorkers, ordinary Americans in all these different jurisdictions that they get victimized every day because of the reckless political agenda that the Soros DAs bring to their job,” he said. “They ignore crime and they empower criminals.”

    Haley weighed in later Monday, saying a prosecution of Trump would be “for political points.” The former South Carolina governor, who announced her White House campaign last month, told Fox News’ Bret Baier, “And I think what we know is that when you get into political prosecutions like this, it’s more about revenge than it is about justice.”

    “I think the country would be better off talking about things that the American public cares about than to sit there and have to deal with some revenge by some political people in New York,” added Haley, who served as ambassador to the United Nations under Trump.

    This story has been updated with additional information.

    [ad_2]

    Source link

  • Lawmakers say TikTok is a national security threat, but evidence remains unclear | CNN Business

    Lawmakers say TikTok is a national security threat, but evidence remains unclear | CNN Business

    [ad_1]



    CNN
     — 

    As TikTok CEO Shou Zi Chew prepares for his first congressional grilling on Thursday, much of the focus will undoubtedly be on the short-form video app’s potential national security risks.

    Concerns about TikTok’s connections to China have led governments worldwide to ban the app on official devices, and those fears have factored into the increasingly tense US-China relationship. The Biden administration has threatened TikTok with a nationwide ban unless its Chinese owners sell their stakes in the company.

    But more than two years after the Trump administration first issued a similar threat to TikTok, security experts say the government’s fears, while serious, currently appear to reflect only the potential for TikTok to be used for foreign intelligence, not that it has been. There is still no public evidence the Chinese government has actually spied on people through TikTok.

    TikTok doesn’t operate in China. But since the Chinese government enjoys significant leverage over businesses under its jurisdiction, the theory goes that ByteDance, and thus indirectly, TikTok, could be forced to cooperate with a broad range of security activities, including possibly the transfer of TikTok data.

    “It’s not that we know TikTok has done something, it’s that distrust of China and awareness of Chinese espionage has increased,” said James Lewis, an information security expert at the Center for Strategic and International Studies. “The context for TikTok is much worse as trust in China vanishes.”

    When Rob Joyce, the National Security Agency’s director of cybersecurity, was asked by reporters in December to articulate his security concerns about TikTok, he offered a general warning rather than a specific allegation.

    “People are always looking for the smoking gun in these technologies,” Joyce said. “I characterize it much more as a loaded gun.”

    Technical experts also draw a distinction between the TikTok app — which appears to operate very similarly to American social media in the amount of user tracking and data collection it performs — and TikTok’s approach to governance and ownership. It’s the latter that’s been the biggest source of concern, not the former.

    The US government has said it’s worried China could use its national security laws to access the significant amount of personal information that TikTok, like most social media applications, collects from its US users.

    The laws in question are extraordinarily broad, according to western legal experts, requiring “any organization or citizen” in China to “support, assist and cooperate with state intelligence work,” without defining what “intelligence work” means.

    Should Beijing gain access to TikTok’s user data, one concern is that the information could be used to identify intelligence opportunities — for example, by helping China uncover the vices, predilections or pressure points of a potential spy recruit or blackmail target, or by building a holistic profile of foreign visitors to the country by cross-referencing that data against other databases it holds. Even if many of TikTok’s users are young teens with seemingly nothing to hide, it’s possible some of those Americans may grow up to be government or industry officials whose social media history could prove useful to a foreign adversary.

    Another concern is that if China has a view into TikTok’s algorithm or business operations, it could try to exert pressure on the company to shape what users see on the platform — either by removing content through censorship or by pushing preferred content and propaganda to users. This could have enormous repercussions for US elections, policymaking and other democratic discourse.

    Security experts say these scenarios are a possibility based on what’s publicly known about China’s laws and TikTok’s ownership structure, but stress that they are hypothetical at best. To date, there is no public evidence that Beijing has actually harvested TikTok’s commercial data for intelligence or other purposes.

    Chew, the TikTok CEO, has publicly said that the Chinese government has never asked TikTok for its data, and that the company would refuse any such request.

    If there’s a risk, it’s primarily concentrated in the relationship between TikTok’s Chinese parent, ByteDance, and Beijing. The main issue is that the public has few ways of verifying whether or how that relationship, if it exists, might have been exploited.

    TikTok has been erecting technical and organizational barriers that it says will keep US user data safe from unauthorized access. Under the plan, known as Project Texas, the US government and third-party companies such as Oracle would also have some degree of oversight of TikTok’s data practices. TikTok is working on a similar plan for the European Union known as Project Clover.

    But that hasn’t assuaged the doubts of US officials, likely because no matter what TikTok does internally, China would still theoretically have leverage over TikTok’s Chinese owners. Exactly what that implies is ambiguous, and because it is ambiguous, it is unsettling.

    In congressional testimony, TikTok has sought to assure US lawmakers it is free from Chinese government influence, but it has not spoken to the degree that ByteDance may be susceptible. TikTok has also acknowledged that some China-based employees have accessed US user data, though it’s unclear for what purpose, and it has disclosed to European users that China-based employees may access their data as part of doing their jobs.

    Multiple privacy and security researchers who’ve examined TikTok’s app say there aren’t any glaring flaws suggesting the app itself is currently spying on people or leaking their information.

    In 2020, The Washington Post worked with a privacy researcher to look under the hood at TikTok, concluding that the app does not appear to collect any more data than your typical mainstream social network. The following year, Pellaeon Lin, a Taiwan-based researcher at the University of Toronto’s Citizen Lab, performed another technical analysis that reached similar conclusions.

    But even if TikTok collects about the same amount of information as Facebook or Twitter, that’s still quite a lot of data, including information about the videos you watch, comments you write, private messages you send, and — if you agree to grant this level of access — your exact geolocation and contact lists. TikTok’s privacy policy also says the company collects your email address, phone number, age, search and browsing history, information about what’s in the photos and videos you upload, and if you consent, the contents of your device’s clipboard so that you can copy and paste information into the app.

    TikTok’s source code closely resembles that of its China-based analogue, Douyin, said Lin in an interview. That implies both apps are developed on the same code base and customized for their respective markets, he said. Theoretically, TikTok could have “privacy-violating hidden features” that can be turned on and off with a tweak to its server code and that the public might not know about, but the limitations of trying to reverse-engineer an app made it impossible for Lin to find out whether those configurations or features exist.

    If TikTok used unencrypted communications protocols, or if it tried to access contact lists or precise geolocation data without permission, or if it moved to circumvent system-level privacy safeguards built into iOS or Android, then that would be evidence of a problem, Lin said. But he found none of those things.

    “We did not find any overt vulnerabilities regarding their communication protocols, nor did we find any overt security problems within the app,” Lin said. “Regarding privacy, we also did not see the TikTok app exhibiting any behaviors similar to malware.”

    TikTok has faced claims that its in-app browser tracks its users’ keyboard entries, and that this type of conduct, known as keylogging, could be a security risk. The privacy researcher who performed the analysis last year, Felix Krause, said that keylogging is not an inherently malicious activity, but it theoretically means TikTok could collect passwords, credit card information or other sensitive data that users may submit to websites when they visit them through TikTok’s in-app browser.

    There is no public evidence TikTok has actually done that, however. TikTok has said the keylogging function is used for “debugging, troubleshooting, and performance monitoring,” as well as to detect bots and spam. Other research has shown that the use of keyloggers is extremely widespread in the technology industry. That does not necessarily excuse TikTok or its peers for using a keylogger in the first place, but neither is it proof positive that TikTok’s product, by itself, is any more of a national security threat than other websites.

    There have also been a number of studies that report TikTok is tracking users around the internet even when they are not using the app. By embedding tracking pixels on third-party websites, TikTok can collect information about a website’s visitors, the studies have found. TikTok has said it uses the data to bolster its advertising business. And in this respect, TikTok is not unique: the same tool is used by US tech giants including Facebook-parent Meta and Google on a far larger scale, according to Malwarebytes, a leading cybersecurity firm.

    As with the keylogging tech, the fact TikTok uses tracking pixels does not on its own transform the company into a national security threat; the risk is that the Chinese government could compel or influence TikTok, through ByteDance, to abuse its data collection capabilities.

    Separately, a report last year found TikTok was spying on journalists, snooping on their user data and IP addresses to find out when or if certain reporters were sharing the same location as company employees. TikTok later confirmed the incident and ByteDance fired several employees who had improperly accessed the TikTok data of two journalists.

    The circumstances surrounding the incident suggest it was not the type of wide-scale, government-directed intelligence effort that US national security officials primarily fear. Instead, it appeared to be part of a specific internal effort by some ByteDance employees to hunt down leaks to the press, which may be deplorable but hardly uncommon for an organization under public scrutiny. (Nevertheless, the US government is reportedly investigating the incident.)

    Joyce, the NSA’s top cyber official, told reporters in December that what he really worries about is “large-scale influence” campaigns leveraging TikTok’s data, not “individualized targeting through [TikTok] to do malicious things.”

    To date, however, there’s no public evidence of that taking place.

    TikTok may collect an extensive amount of data, much of it quietly, but as far as researchers can tell, it isn’t any more invasive or illegal than what other US tech companies do.

    According to security experts, that’s more a reflection of the broad leeway we’ve given to tech companies in general to handle our data, not an issue that’s unique or specific to TikTok.

    “We have to trust that those companies are doing the right thing with the information and access we’ve provided them,” said Peiter “Mudge” Zatko, a longtime ethical hacker and Twitter’s former head of security who turned whistleblower. “We probably shouldn’t. And this comes down to a concern about the ultimate governance of these companies.”

    Lin told CNN that TikTok and other social media companies’ appetite for data highlights policy failures to pass strong privacy laws that regulate the tech industry writ large.

    “TikTok is only a product of the entire surveillance capitalism economy,” Lin said. “And governments around the world are ignoring their duty to protect citizens’ private information, allowing big tech companies to exploit user information for gain. Governments should try to better protect user information, instead of focusing on one particular app without good evidence.”

    Asked how he would advise policymakers to look at TikTok instead, Lin said: “What I would call for is more evidence-based policy.”

    [ad_2]

    Source link

  • Google suspends Chinese shopping app Pinduoduo over malware | CNN Business

    Google suspends Chinese shopping app Pinduoduo over malware | CNN Business

    [ad_1]


    Hong Kong
    CNN
     — 

    Google has suspended Pinduoduo, a popular Chinese budget shopping app, from its Play Store after finding malware in versions of the app.

    In a Tuesday statement, Google said versions of the app that are not in the Play Store have been found to contain malware.

    “We have suspended the Play version of the app for security concerns while we continue our investigation,” a Google spokesperson said.

    It has also enforced Google Play Protect, which scans apps installed on Android phones for harmful behavior, on the allegedly malicious apps, according to the statement.

    “Google Play Protect enforcement has been set to block installation attempts of these identified malicious apps. Users that have malicious versions of the app downloaded to their devices are warned and prompted to uninstall the app,” the spokesperson said.

    In a statement to CNN, Pinduoduo said it was informed by Google Play on Tuesday morning that its app had been “temporarily suspended” because the current version is “not compliant with Google’s Policy.” It said Google Play did not share more details.

    “We are communicating with Google for more information. We have been told that there are several other apps that have been suspended as well,” a Pinduoduo spokesperson said.

    In a later statement Pinduoduo said it strongly rejects “the speculation and accusation that Pinduoduo app is malicious just from a generic and non-conclusive response from Google.”

    It reiterated that “there are several apps that have been suspended from Google Play at the same time.”

    CNN has asked Google for information on whether other apps have also been suspended.

    Malware, short for malicious software, refers to any software developed to steal data or damage computer systems and mobile devices. When hidden in apps, it can be used to gain unauthorized access to information on a user’s phone.

    Pinduoduo is one of China’s most popular e-commerce platforms, with approximately 900 million users. It made its name with a group buying business model, allowing people to save money by enlisting friends to buy the same item in bulk.

    Riding on the domestic success of Pinduoduo, its US-listed parent company PDD last year launched Temu, an online shopping platform in the United States.

    Temu, which runs an online superstore for virtually everything — from home goods to apparel to electronics — has quickly become the most downloaded app in the US for both iOS and Android.

    Since its rollout in September, the app had been downloaded 24 million times as of last month, racking up more than 11 million monthly active users, according to Sensor Tower.

    Google did not mention Temu in its statement. The app is still available to download on the Play Store.

    [ad_2]

    Source link

  • China imports 27 foreign video games as it reopens market to global titles | CNN Business

    China imports 27 foreign video games as it reopens market to global titles | CNN Business

    [ad_1]


    Hong Kong
    CNN
     — 

    China has approved 27 foreign video games, including titles to be released by Tencent, NetEase and Bilibili, as it gradually reopens the world’s largest mobile entertainment market to international titles.

    It was the second batch of foreign games to be allowed to enter the Chinese market since December.

    The latest titles include “Seven Deadly Sins: Grand Cross,” a popular global role-playing game from South Korea’s Netmarble, and “Merge Mansion,” a mobile merge game from Finland’s Metacore, according to a list published by the National Press and Publication Administration (NPPA) on Monday.

    Tencent

    (TME)
    will distribute the two games in mainland China.

    NetEase

    (NTES)
    will release “Audition: Everybody Party,” a Chinese version of the hit dancing game “Audition Online,” which was developed by South Korea’s T3 Entertainment.

    Bilibili

    (BILI)
    will publish the localized version of “Uma Musume: Pretty Derby,” a hugely popular franchise from Japan’s Cygames.

    Other Chinese publishers on the list include XD, Yostar and iDreamSky Technology.

    Among the 27 games, seven were made in Japan, followed by five from South Korea.

    Online game stocks pulled higher in Asia on Tuesday.

    In South Korea, shares in Netmarble Corp were up 7%. Devsisters Corp, whose hit game “Cookie Run” was also on the NPPA’s list, soared 15%. Nexon Games, whose popular “Blue Archives” and “MapleStory” were given the greenlight, surged 16%.

    In Hong Kong, Bilibili was up as much as 9.1%. It last jumped 5.4%. XD advanced 2.8%. iDreamSky Technology was up 3.2%.

    “We believe this implies a more supportive regulatory policy towards foreign titles that further support a healthier and normalized development of online gaming industry going forward,” said Citi analysts on Tuesday.

    “We expect there could be two to three more imported batches in 2023, bringing total imported titles to 100 to 120.”

    The NPPA’s move came two months after the iconic “World of Warcraft” franchise went offline in mainland China, after US publisher Blizzard and its Chinese distributor NetEase broke off talks to extend their 14-year partnership. That left many Chinese players devastated.

    The regulator suspended licensing for all video games for nine months from July 2021 to April 2022, as the government launched a far-reaching tech crackdown and introduced stringent measures to cap playing times for minors in order to curb extreme cases of gaming addiction.

    The NPPA lifted the freeze on domestic titles last April, in a sign that Beijing’s crackdown on the tech sector was easing. But foreign games were still unable to access the Chinese market until December, when the regulator finally approved 45 foreign titles, including “Pokémon Unite” by Nintendo and “Valorant” by Riot Games.

    [ad_2]

    Source link

  • FCC cracks down on spammy text messages | CNN Business

    FCC cracks down on spammy text messages | CNN Business

    [ad_1]


    Washington
    CNN
     — 

    The Federal Communications Commission is cracking down on spammy text messages with new rules for telecom companies, citing a surge of consumer complaints in recent years tied to unwanted robotexts.

    The new rules require phone providers to block text messages from suspicious sources including phone numbers that appear to be “invalid, unallocated, or unused.” Carriers will also have to block text messages coming from phone numbers that claim not to ever send text messages, or that the government has identified as numbers not used for texting, the FCC said.

    The move mirrors a similar US government effort to shut down illegal robocalls, which has led to at least one phone provider being cut off entirely from the US telephone network. Robocall monitoring services say the effort has largely been successful at reducing the volume of robocalls. But in recent years, an explosion of spam and scam text messages appears to have taken their place, leading to more than 18,000 consumer complaints at the FCC last year.

    The FCC is mulling additional regulations that could, among other things, apply Do Not Call registry protections to text messages for the first time. The FCC said it is also considering making it harder for marketers to use a single consumer consent to flood that user with calls and text messages from multiple sources and numbers.

    Unwanted or scam robotexts can be an even greater risk to consumers than unwanted robocalls, the FCC said, because unlike phone calls, text messages may contain malicious links that can infect a smart device with dangerous software.

    “Scam artists have found that sending us messages about a package you never ordered or a payment that never went through along with a link to a shady website is a quick and easy way to get us to engage on our devices and fall prey to fraud,” said FCC Chairwoman Jessica Rosenworcel in a statement.

    The FCC voted to adopt the new rules in a unanimous 4-0 decision.

    [ad_2]

    Source link

  • Silicon Valley Bank left a void that won’t easily be filled | CNN Business

    Silicon Valley Bank left a void that won’t easily be filled | CNN Business

    [ad_1]

    A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.


    New York
    CNN
     — 

    It’s difficult to overstate the influence that Silicon Valley Bank had over the startup world and the ripple effect its collapse this month had on the global tech sector and banking system.

    While SVB was largely known as a regional bank to those outside of the tight-knit venture capital sphere, within certain circles it had become an integral part of the community – a bank that managed the idiosyncrasies of the tech world and helped pave the way for the Silicon Valley-based boom that has consumed much of the economy over the past three decades.

    SVB’s collapse was the largest bank failure since the 2008 financial crisis: It was the 16th largest bank in the country, holding about $342 billion in client funds and $74 billion in loans.

    At the time of its collapse, about half of all US venture-backed technology and life science firms were banking with SVB. In total, it was the bank for about 2,500 venture firms including Andreessen Horowitz, Sequoia Capital, Bain Capital and Insight Partners.

    But the influence of SVB went beyond lending and banking – former CEO Gregory Becker sat on the boards of numerous tech advocacy groups in the Bay Area. He chaired the TechNet trade association and the Silicon Valley Leadership Group, was a director of the Federal Reserve Bank of San Francisco and served on the United States Department of Commerce’s Digital Economy Board of Advisors.

    There’s no doubt that the failure of Silicon Valley Bank left a large void in tech. The question is how that gap will be filled.

    To find out, Before the Bell spoke with Ahmad Thomas, president and CEO of the Silicon Valley Leadership Group. The influential advocacy group is working to convene its hundreds of member companies – including Amazon, Bank of America, BlackRock, Google, Microsoft and Meta – to discuss what happens next.

    This interview has been edited for length and clarity.

    Before the Bell: What’s the feeling on the ground with tech and VC leadership in Silicon Valley?

    Ahmad Thomas: Silicon Valley Bank has been a key part of our fabric here for four decades. SVB was truly a pillar of the community and the innovation economy. The absence of SVB – that void – and coalescing leaders to fill that void is where my energy is focused and that is not a small task.

    I would say there was a fairly high level of unease a few days ago, and I believe the swift steps taken by leaders in Washington have helped quell a fair amount of that unease, but looking at Credit Suisse and First Republic just over the last couple of days, clearly we are in a situation that is going to continue to develop in the weeks and months ahead.

    So how do you fill it?

    We’re working to be a voice around stability, particularly about the fundamentals of the innovation economy. We can acknowledge the void given the absence of Silicon Valley Bank, but I do think we need voices out there to be very clear in highlighting that the fundamentals and the innovation infrastructure remains robust here in Silicon Valley.

    This is a moment where I think people need to take a step back, let cooler heads prevail, and understand that there are opportunities both from an investment standpoint, a community engagement standpoint and corporate citizenship standpoint for new leaders in Silicon Valley to step up.

    Are you working to advocate for more permanent regulation in DC?

    It’s far too early for that. But if there are opportunities to enhance access to capital to entrepreneurs to founders of color or in marginalized communities and if there are opportunities to try and drive innovation and economic growth, we will always be at the table for those conversations.

    Do you have any ideas about how long this crisis will continue for? What’s your outlook?

    The problem is twofold: A crisis of confidence and the set of economic conditions on the ground. The economic conditions remain volatile for a variety of reasons: The softening economy, inflationary pressures and the interest rate environment. But I think right now we need to focus on stabilizing confidence in the investor community, in our business executive community and in the broader set of stakeholders around the strength of the innovation economy. That is something we need to shore up near term.

    From CNN’s Mark Thompson

    Switzerland’s biggest bank, UBS, has agreed to buy its ailing rival Credit Suisse (CS) in an emergency rescue deal aimed at stemming financial market panic unleashed by the failure of two American banks earlier this month.

    “UBS today announced the takeover of Credit Suisse,” the Swiss National Bank said in a statement. It said the rescue would “secure financial stability and protect the Swiss economy.”

    UBS is paying 3 billion Swiss francs ($3.25 billion) for Credit Suisse, about 60% less than the bank was worth when markets closed on Friday. Credit Suisse shareholders will be largely wiped out, receiving the equivalent of just 0.76 Swiss francs in UBS shares for stock that was worth 1.86 Swiss francs on Friday.

    Extraordinarily, the deal will not need the approval of shareholders after the Swiss government agreed to change the law to remove any uncertainty about the deal.

    Credit Suisse had been losing the trust of investors and customers for years. In 2022, it recorded its worst loss since the global financial crisis. But confidence collapsed last week after it acknowledged “material weakness” in its bookkeeping and as the demise of Silicon Valley Bank and Signature Bank spread fear about weaker institutions at a time when soaring interest rates have undermined the value of some financial assets.

    Read more here.

    From CNN’s David Goldman

    A week after Signature Bank failed, the Federal Deposit Insurance Corporation said it has sold most of its deposits to Flagstar Bank, a subsidiary of New York Community Bank.

    On Monday, Signature Bank’s 40 branches will begin operating as Flagstar Bank. Signature customers won’t need to make any changes to do their banking Monday.

    New York Community Bank bought substantially all of Signature’s deposits and a total of $38.4 billion worth of the company’s assets. That includes $12.9 billion of Signature’s loans, which New York Community Bank purchased at a steep discount -— it paid just $2.7 billion for them. New York Community Bank also paid the FDIC stock that could be worth up to $300 million.

    At the end of last year, Signature had more than $110 billion worth of assets, including $88.6 billion of deposits, showing how the run against the bank two weeks ago led to a massive decline in deposits.

    Not included in the transaction is about $60 billion in other assets, which will remain in the FDIC’s receivership. It also doesn’t include $4 billion in deposits from Signature’s digital bank business.

    Read more here.

    [ad_2]

    Source link

  • India cuts internet to 27 million as Punjab police hunt Sikh separatist | CNN

    India cuts internet to 27 million as Punjab police hunt Sikh separatist | CNN

    [ad_1]



    CNN
     — 

    Indian authorities have blocked internet access for about 27 million people in the state of Punjab for a third straight day – one of the country’s most extensive blackouts in recent years – as police search for a Sikh separatist on the run.

    The Punjab government initially announced a 24-hour internet ban on Saturday as authorities launched an operation to arrest Amritpal Singh, a popular leader within the separatist Khalistan movement that seeks to establish a sovereign state for followers of the Sikh religion.

    The internet shutdown – which affects everyone in the northern Indian state – was extended Sunday by the government to midday Monday under a law that allows the connection to be cut to “prevent any incitement to violence and any disturbance of peace and public order.”

    Police in Punjab have justified the internet shutdown as a means to maintain law and order and stop the spread of “fake news.”

    Dramatic scenes captured on video and broadcast on local television showed hundreds of Singh’s supporters, some holding swords and sticks, walking through the streets of Punjab. Police and paramilitary troops were deployed across several districts in the state in a bid to maintain law and order.

    At least 112 people have been arrested, Punjab police said Sunday, while Singh remains on the run.

    For decades, some Sikhs have demanded that an independent nation called Khalistan be carved in the state of Punjab for followers of the minority faith. Over the years, violent clashes have erupted between followers of the movement and the Indian government, claiming many lives.

    The violence reached a climax in June 1984 when the Indian army stormed the Golden Temple in Amritsar, Sikhism’s holiest shrine, to capture armed separatists, killing thousands and reducing much of the building to rubble. The carnage roiled the Sikh community and India’s former prime minister Indira Gandhi, who ordered the operation, was assassinated by her Sikh bodyguards in the aftermath.

    The Khalistan movement is outlawed and considered a grave national security threat by the Indian government, but maintains a level of support among some Sikhs within the country and overseas.

    In a statement Sunday, the World Sikh Organization of Canada (WSO) condemned the “draconian” operation to arrest Singh and said it feared “Singh’s detention may be used to orchestrate a false encounter and facilitate his extrajudicial murder.”

    Over the weekend, some of Singh’s supporters vandalized the Indian High Commission in London, prompting UK authorities to condemn the incident.

    The British High Commissioner to India, Alex Ellis, called the acts “disgraceful” and “totally unacceptable.”

    In a statement late Sunday, the Indian Ministry of External Affairs said it is “expected that the UK government would take immediate steps to identify, arrest and prosecute” those involved in the incident.

    “There is no place in our city for this kind of behaviour. An investigation has been launched by the Met into today’s events,” London mayor Sadiq Khan tweeted Sunday.

    Internet shutdowns have become increasingly common in India, which has more than 800 million internet users – the world’s second largest digital population, behind China.

    Earlier this month, a report by Access Now, a New York-based advocacy group that tracks internet freedom, said India imposed 84 internet shutdowns in 2022, marking the fifth consecutive year the world’s largest democracy of more than 1.3 billion people has topped the global list.

    The disruptions “impacted the daily lives of millions of people for hundreds of hours,” the report said.

    The internet has become a vital social and economic lifeline for large swathes of the population and connects the country’s isolated rural pockets with its growing cities.

    The government has repeatedly attempted to justify blocking internet access on the grounds of preserving public safety amid fears of mob violence. But critics say the shutdowns are yet another blow to the country’s commitment to freedom of speech and access to information.

    [ad_2]

    Source link

  • UK bans TikTok on government devices | CNN Business

    UK bans TikTok on government devices | CNN Business

    [ad_1]


    Washington
    CNN
     — 

    The United Kingdom banned TikTok from official government devices on Thursday, adding to similar restrictions imposed by allies in Canada, the European Union and the United States.

    The social media app is not widely used by UK officials, according to a government announcement, but the measure reflects concerns about TikTok’s links to China through its parent company, ByteDance, and the possibility that the Chinese government could pressure the companies to hand over users’ personal information.

    “This is a proportionate move based on a specific risk with government devices,” UK Cabinet Office Minister Oliver Dowden told lawmakers Thursday.

    In a statement Thursday, TikTok expressed disappointment at the decision.

    “We believe these bans have been based on fundamental misconceptions and driven by wider geopolitics, in which TikTok, and our millions of users in the UK, play no part,” a spokesperson said. “We remain committed to working with the government to address any concerns but should be judged on facts and treated equally to our competitors.”

    The company has said it is voluntarily working to address the security concerns by taking technical and bureaucratic measures to wall off US and EU user data from its global operations. It has also said that it has not received any request from the Chinese government for user information and would resist such calls.

    In the statement Thursday, TikTok said: “We have begun implementing a comprehensive plan to further protect our European user data, which includes storing UK user data in our European data centres and tightening data access controls, including third-party independent oversight of our approach.”

    The UK announcement comes a day after TikTok said the US government had requested the company’s Chinese owners sell their shares or else risk a ban.

    In December, President Joe Biden signed legislation prohibiting TikTok on federal government devices, joining what has become a list of more than half of US states.

    US lawmakers have proposed expanding the Biden administration’s authority to enact a nationwide ban on TikTok. A bipartisan group of senators this month unveiled legislation that would give the Commerce Department broad latitude to review and ban technologies linked to foreign adversaries, a proposal the White House quickly welcomed.

    [ad_2]

    Source link

  • The way we work is about to change | CNN Business

    The way we work is about to change | CNN Business

    [ad_1]


    New York
    CNN
     — 

    In just a few months, you’ll be able to ask a virtual assistant to transcribe meeting notes during a work call, summarize long email threads to quickly draft suggested replies, quickly create a specific chart in Excel, and turn a Word document into a PowerPoint presentation in seconds.

    And that’s just on Microsoft’s 365 platforms.

    Over the past week, a rapidly evolving artificial intelligence landscape seemed to leap ahead again. Microsoft and Google each unveiled new AI-powered features for their signature productivity tools and OpenAI introduced its next-generation version of the technology that underpins its viral chatbot tool, ChatGPT.

    Suddenly, AI tools, which have long operated in the background of many services, are now more powerful and more visible across a wide and growing range of workplace tools.

    Google’s new features, for example, promise to help “brainstorm” and “proofread” written work in Docs. Meanwhile, if your workplace uses popular chat platform Slack, you’ll be able to have its ChatGPT tool talk to colleagues for you, potentially asking it to write and respond to new messages and summarize conversations in channels.

    OpenAI, Microsoft and Google are at the forefront of this trend, but they’re not alone. IBM, Amazon, Baidu and Tencent are working on similar technologies. A long list of startups are also developing AI writing assistants and image generators.

    The pitch from tech companies is clear: AI can make you more productive and eliminate the grunt work. As Microsoft CEO Satya Nadella put it during a presentation on Thursday, “We believe this next generation of AI will unlock a new wave of productivity growth: powerful copilots designed to remove the drudgery from our daily tasks and jobs, freeing us to rediscover the joy of creation.”

    But the sheer number of new options hitting the market is both dizzying and, as with so much else in the tech industry over the past decade, raises questions of whether they will live up to the hype or cause unintended consequences, including enabling cheating and eliminating the need for certain roles (though that may be the intent of some adopters).

    Even the promise of greater productivity is unclear. The rise of AI-generated emails, for example, might boost productivity for the sender but decrease it for recipients flooded with longer-than-necessary computer-generated messages. And of course just because everyone has the option to use a chatbot to communicate with colleagues doesn’t mean all will chose to do so.

    Integrating this technology “into the foundational pieces of productivity software that most of us use everyday will have a significant impact on the way we work,” said Rowan Curran, an analyst at Forrester. “But that change will not wash over everything and everyone tomorrow — learning how to best make use of these capabilities to enhance and adjust our existing workflows will take time.”

    Anyone who has ever used an autocomplete option when typing an email or sending a message has already experienced how AI can speed up tasks. But the new tools promise to go far beyond that.

    The renewed wave of AI product launches kicked off nearly four months ago when OpenAI released a version of ChatGPT on a limited basis, stunning users with generating human-sounding responses to user prompts, passing exams at prestigious universities and writing compelling essays on a range of topics.

    Since then, the technology — which Microsoft made a “multibillion dollar” investment in earlier this year — has only improved. Earlier this week, OpenAI unveiled GPT-4, a more powerful version of the technology that underpins ChatGPT, and which promises to blow previous iterations out of the water.

    In early tests and a company demo, GPT-4 was used to draft lawsuits, build a working website from a hand-drawn sketch and recreate iconic games such as Pong, Tetris or Snake with very little to no prior coding experience.

    GPT-4 is a large language model that has been trained on vast troves of online data to generate responses to user prompts.

    It’s the same technology that underpins two new Microsoft features:”Co-pilot,” which will help edit, summarize, create and compare documents across its platforms, and Business Chat, an agent that essentially rides along with the user as they work and tries to understand and make sense of their Microsoft 365 data.

    The agent will know, for example, what’s in a user’s email and on their calendar for the day, as well as the documents they’ve been working on, the presentations they’ve been making, the people they’re meeting with, and the chats happening on their Teams platform, according to the company. Users can then ask Business Chat to do tasks such as write a status report by summarizing all of the documents across platforms on a certain project, and then draft an email that could be sent to their team with an update.

    Curran said just how much these AI-powered tools will change work depends on the application. For example, a word processing application could help generate outlines and drafts, a slideshow program may help speed along the design and content creation process, and a spreadsheet app should help more users interact with and make data-driven decisions. The latter he believes will make the most significant impact to the workplace in both the short and long-term.

    The discussion of how these technologies will impact jobs “should focus on job tasks rather than jobs as a whole,” he said.

    Although OpenAI’s GPT-4 update promises fixes to some of its biggest challenges — from its potential to perpetuate biases, sometimes being factually incorrect and responding in an aggressive manner — there’s still the possibility for some of these issues to find their way into the workplace, especially when it comes to interacting with others.

    Arijit Sengupta, CEO and founder of AI solutions company Aible, said a problem with any large language model is that it tries to please the user and typically accepts the premise of the user’s statements.

    “If people start gossiping about something, it will accept it as the norm and then start generating content [related to that],” said Sengupta, adding that it could escalate interpersonal issues and turn into bullying at the office.

    In a tweet earlier this week, OpenAI CEO Sam Altman wrote the technology behind these systems is “still flawed, still limited, and it still seems more impressive on first use than it does after you spend more time with it.” The company reiterated in a blog post that “great care should be taken when using language model outputs, particularly in high-stakes contexts.”

    Arun Chandrasekaran, an analyst at Gartner Research, said organizations will need to educate their users on what these solutions are good at and what their limitations are.

    “Blind trust in these solutions is as dangerous as complete lack of faith in the effectiveness of it,” Chandrasekaran said. “Generative AI solutions can also make up facts or present inaccurate information from time to time – and organizations need to be prepared to mitigate this negative impact.”

    At the same time, many of these applications are not up to date (GPT-4’s data that it’s trained on cuts off around September 2021). The onus will have to be on the users to do everything from double check the accuracy to change the language to reflect the tone they want. It will also be important to get buy-in and support across workplaces for the tools to take off.

    “Training, education and organizational change management is very important to ensure that employees are supportive of the efforts and the tools are used in the way they were intended to,” Chandrasekaran said.

    [ad_2]

    Source link

  • Microsoft is bringing ChatGPT technology to Word, Excel and Outlook | CNN Business

    Microsoft is bringing ChatGPT technology to Word, Excel and Outlook | CNN Business

    [ad_1]



    CNN
     — 

    Microsoft on Thursday outlined its plans to bring artificial intelligence to its most recognizable productivity tools, including Outlook, PowerPoint, Excel and Word, with the promise of changing how millions do their work every day.

    At an event on Thursday, the company announced that Microsoft 365 users will soon be able to use what the company is calling an AI “Co-pilot,” which will help edit, summarize, create and compare documents. But don’t call it Clippy. The new features, which are built on the same technology that underpins ChatGPT, are far more powerful (and less anthropomorphized) than its wide-eyed, paperclip-shaped predecessor.

    With the new features, users will be able to transcribe meeting notes during a Skype call, summarize long email threads to quickly draft suggested replies, request to create a specific chart in Excel, and turn a Word document into a PowerPoint presentation in seconds.

    Microsoft is also introducing a concept called Business Chat, an agent that essentially rides along with the user as they work and tries to understand and make sense of their Microsoft 365 data. The agent will know what’s in a user’s email and on their calendar for the day as well as the documents they’ve been working on, the presentations they’ve been making, the people they’re meeting with, and the chats happening on their Teams platform, according to the company. Users can then ask Business Chat to do tasks such as write a status report by summarizing all of the documents across platforms on a certain project, and then draft an email that could be sent to their team with an update.

    Microsoft’s announcement comes a month after it brought similar AI-powered features to Bing and amid a renewed arms race in the tech industry to develop and deploy AI tools that can change how people work, shop and create. Earlier this week, rival Google announced it is also bringing AI to its productivity tools, including Gmail, Sheets and Docs.

    The news also comes two days after OpenAI, the company behind Microsoft’s artificial intelligence technology and the creator of ChatGPT, unveiled its next-generation model, GPT-4. The update has stunned many users in early tests and a company demo with its ability to draft lawsuits, pass standardized exams and build a working website from a hand-drawn sketch.

    OpenAI said it added more “guardrails” to keep conversations on track and has worked to make the tool less biased. But the update, and the moves by larger tech companies to integrate this technology, could add to challenging questions around how AI tools can upend professions, enable students to cheat, and shift our relationship with technology. Microsoft’s new Bing browser has already been using GPT-4, for better or worse.

    A Microsoft spokesperson said 365 users accessing the new AI tools should be reminded the technology is a work in progress and information will need to be double checked. Although OpenAI has made vast improvements to its latest model, GPT-4 has similar limitations to previous versions. The company said it can still make “simple reasoning errors” or be “overly gullible in accepting obvious false statements from a user,” and does not fact check.

    Still, Microsoft believes the changes will improve the experience of people at work in a significant way by allowing them to do tasks easier and less tedious, freeing them up to be more analytical and creative.

    [ad_2]

    Source link

  • The US government is once again threatening to ban TikTok. What you should know | CNN Business

    The US government is once again threatening to ban TikTok. What you should know | CNN Business

    [ad_1]



    CNN
     — 

    Nearly two-and-a-half years after the Trump administration threatened to ban TikTok in the United States if it didn’t divest from its Chinese owners, the Biden administration is now doing the same.

    TikTok acknowledged to CNN this week that federal officials are demanding the app’s Chinese owners sell their stake in the social media platform, or risk facing a US ban of the app.

    The new directive comes from the multiagency Committee on Foreign Investment in the United States (CFIUS), following years of negotiations between TikTok and the government body. (CFIUS is the same group that previously forced a sale of LGBTQ dating app Grindr from Chinese ownership back in 2019.)

    The ultimatum from the US government represents an apparent escalation in pressure from Washington as more lawmakers once again raise national security concerns about the app. Suddenly, TikTok’s future in the United States appears more uncertain – but this time, it comes after years in which the app has only broadened its reach over American culture.

    Here’s what you should know.

    Some in Washington have expressed concerns that the app could be infiltrated by the Chinese government to essentially spy on American users or gain access to US user data. Others have raised alarms over the possibility that the Chinese government could use the app to spread propaganda to a US audience. At the heart of both is an underlying concern that any company doing business in China ultimately falls under Chinese Communist Party laws.

    Other concerns raised are not unique to TikTok, but more broadly about the potential for social media platforms to lead younger users down harmful rabbit holes.

    If this latest development is giving you déjà vu, that’s because it echoes the saga TikTok already went through in the United States that kicked off in 2020, when the Trump administration first threatened it with a ban via executive order if it didn’t sell itself to a US-based company.

    Oracle and Walmart were suggested as buyers, social media creators were in a frenzy, and TikTok kicked off a lengthy legal battle against the US government. Some critics at the time blasted then-president Donald Trump’s crusade against the app as political theater rooted in xenophobia, calling out Trump’s unusual suggestion that the United States should get a “cut” of any deal if it forced the app’s sale to an American firm.

    The Biden administration eventually rescinded the Trump-era executive order targeting TikTok, but replaced it with a broader directive focused on investigating technology linked to foreign adversaries, including China. Meanwhile, CFIUS continued negotiations to strike a possible deal that would allow the app to continue operating in the United States. Then scrutiny began to kick up again in Washington.

    Lawmakers renewed their scrutiny of TikTok for its ties to China through its parent company, ByteDance, after a report last year suggested US user data had been repeatedly accessed by China-based employees. TikTok has disputed the report.

    In rare remarks earlier this month at a Harvard Business Review conference, TikTok CEO Shou Chew doubled down on the company’s prior commitments to address the lawmakers’ concerns.

    “The Chinese government has actually never asked us for US user data,” Chew said, “and we’ve said this on the record, that even if we where asked for that, we will not provide that.” Chew added that “all US user data is stored, by default, in the Oracle Cloud infrastructure” and “access to that data is completely controlled by US personnel.”

    TikTok CEO, Shou Zi Chew is interviewed at offices the company uses on Tuesday February 14, 2023 in Washington, DC.(Photo by Matt McClain/The Washington Post via Getty Images)

    As for the concerns that the Chinese government might use the app to spew propaganda to a US audience, Chew emphasized that this would be bad for business, noting that some 60% of TikTok’s owners are global investors. “Misinformation and propaganda has no place on our platform, and our users do not expect that,” he said.

    In response to the CFIUS divestiture request, a TikTok spokesperson told CNN this week that a change in ownership wouldn’t impact how US user data is accessed.

    “If protecting national security is the objective, divestment doesn’t solve the problem,” TikTok spokesperson Maureen Shanahan said in a statement. “A change in ownership would not impose any new restrictions on data flows or access. The best way to address concerns about national security is with the transparent, US-based protection of US user data and systems, with robust third-party monitoring, vetting, and verification, which we are already implementing.”

    TikTok is really only a national security risk insofar as the Chinese government may have leverage over TikTok or its parent company. China has national security laws that require companies under its jurisdiction to cooperate with a broad range of security activities. The main issue is that the public has few ways of verifying whether or how that leverage has been exercised. (TikTok doesn’t operate in China, but ByteDance does.)

    Privacy and security researchers who have looked under the hood at TikTok’s app say that, as far as they can tell, TikTok isn’t much different from other social networks in terms of the data it collects or how it communicates with company servers. That’s still a lot of personally revealing information, but it doesn’t imply that TikTok’s app itself is inherently malicious or a kind of spyware.

    That’s why the concern really focuses on TikTok and ByteDance’s relationship to the Chinese government, and why the Biden administration is pushing for TikTok’s Chinese owners to sell their shares.

    India banned TikTok in the summer of 2020, following a violent border clash between the country and China, in a move that abruptly disconnected the more than 200 million users the app had amassed there.

    While stopping short of banning the app on personal devices, a number of other countries, including the United States, Canada and United Kingdom have recently enacted bans of TikTok on official, government devices.

    Late last year, President Joe Biden signed legislation prohibiting TikTok on federal government devices, and more than half of US states have enacted a similar mandate at the state level. A TikTok spokesperson previously blasted this ban as “little more than political theater.”

    “The ban of TikTok on federal devices passed in December without any deliberation, and unfortunately that approach has served as a blueprint for other world governments,” the spokesperson added.

    [ad_2]

    Source link

  • Meta rolls out paid verification option for Facebook and Instagram users in US | CNN Business

    Meta rolls out paid verification option for Facebook and Instagram users in US | CNN Business

    [ad_1]


    New York
    CNN
     — 

    Facebook and Instagram users in the United States will soon be able to pay to get a coveted blue check on their account.

    Meta on Friday began testing a paid verification option for US users of the two social networks, CEO Mark Zuckerberg announced on Instagram. The company plans to gradually roll out the paid option to more US users over the next few weeks.

    First tested in February in Australia and New Zealand, Meta Verified starts at $11.99 a month on the web or $14.99 a month on mobile. In addition to verification, the option offers perks such as extra protection from impersonation accounts and direct access to customer support.

    To avoid fake accounts, customers who want to get the blue badge would need to provide a government ID which matches their profile name and picture. Users must also be above 18 to be eligible for the new service.

    “This new feature is about increasing authenticity and security across our services,” Zuckerberg wrote in February in an Instagram broadcast channel.

    Meta joins other platforms, like Discord, Reddit and YouTube, which have their own subscription-based models. Twitter relaunched its own verification subscription service, Twitter Blue, in December, after an onset of fake “verified” accounts forced it to pull the feature. Twitter Blue costs $11 a month for iOS and Android subscribers, part of owner Elon Musk’s attempt to raise its subscriptions business after buying the platform for $44 billion.

    For Meta, the move offers the promise of another revenue stream beyond advertising, at a time when its core ad sales business is under pressure from a number of factors, including privacy changes on Apple and tightening budgets amid recession fears.

    [ad_2]

    Source link

  • SVB collapse was driven by ‘the first Twitter-fueled bank run’ | CNN Business

    SVB collapse was driven by ‘the first Twitter-fueled bank run’ | CNN Business

    [ad_1]


    New York
    CNN
     — 

    The massive amount of customer withdrawals that led to the collapse of Silicon Valley Bank had all the hallmarks of an old-fashioned bank run, but with a new twist befitting the primary industry the bank served: much of it unfolded online.

    Customers withdrew $42 billion in a single day last week from Silicon Valley Bank, leaving the bank with $1 billion in negative cash balance, the company said in a regulatory filing. The staggering withdrawals unfolded at a speed enabled by digital banking and were likely fueled in part by viral panic spreading on social media platforms and, reportedly, in private chat groups.

    In the day leading up to the bank’s collapse, multiple prominent venture capitalists took to Twitter in particular, and used their large platforms to raise alarms about the situation, sometimes typing in all caps. Some investors urged startups to rethink where they kept their cash. Founders and CEOs then shared tweets about the concerning situation at the bank in private Slack channels, according to The Wall Street Journal.

    On the other side of a screen, startup leaders raced to withdraw funds online – so many, in fact, that some told CNN the online system appeared to go down. Still, the end result was a modern race to withdraw funds, which House Financial Services Chair Patrick McHenry later described in a statement as ” the first Twitter-fueled bank run.”

    “Even back in the ancient days, way before we had any form of modern communication, this stuff tended to be rumors that moved really fast. The reason it would happen is people would walk down the street and observe people standing outside of banks,” Andrew Metrick, Janet L. Yellen Professor of Finance and Management at the Yale School of Management, told CNN. “Now we don’t have that, but we have Twitter.”

    The experience of the bank run was also far removed from prior eras when a large number of customers would physically show up at a bank to withdraw funds (though some did line up outside Silicon Valley Bank locations, too.) Now, many could do so online or through mobile devices.

    “What made the Silicon Valley Bank run unique was (1) the ease with which its customers could execute withdrawals and (2) the speed with which news of Silicon Valley Bank’s impending demise spread,” Ben Thompson, an analyst who tracks the tech industry, wrote in a post on Monday. “It was the speed, fueled by zero distribution costs for both rumors and withdrawals, that was so destabilizing.”

    Silicon Valley Bank was arguably uniquely susceptible to those factors given its tech-focused customer base. Moreover, its clients, many of whom were venture-backed businesses, were far more likely than the average consumer to keep more than the standard maximum FDIC insured amount of $250,000 in their accounts.

    “The FDIC covers 250K, but am I going to recover my whole 8 figures?” one startup founder told CNN last week, after the bank had collapsed. Other large tech companies kept even larger sums with the bank. That likely made the bank’s customers even more susceptible to the panic spreading online.

    Some prominent tech figures, including Mark Suster, a partner at venture capital firm Upfront Ventures, urged those in the VC community to “speak out publicly to quell the panic” around Silicon Valley Bank last week and cautioned against creating “mass hysteria.”

    “Classic ‘runs on the bank’ hurt our entire system,” he wrote in a lengthy Twitter thread on Thursday. “People are making public jokes about this. It’s not a joke, this is serious stuff. Please treat it as such.”

    His calls for calm weren’t enough. The next day, the US Federal Deposit Insurance Corporation stepped in and took control of the bank, which only added to the viral panic on Twitter.

    “YOU SHOULD BE ABSOLUTELY TERRIFIED RIGHT NOW,” Jason Calacanis, a tech investor, wrote on Twitter Sunday. “THAT IS THE PROPER REACTION.”

    Hours later, the Biden administration stepped in and guaranteed the bank’s customers would have access to all their money starting Monday.

    [ad_2]

    Source link

  • Baidu stock rebounds after falling sharply in wake of ChatGPT-style bot demo | CNN Business

    Baidu stock rebounds after falling sharply in wake of ChatGPT-style bot demo | CNN Business

    [ad_1]


    Hong Kong
    CNN
     — 

    Shares in Chinese search giant Baidu rebounded sharply a day after it unveiled ERNIE Bot, its answer to the ChatGPT craze.

    Its stock soared 14.3% on Friday in Hong Kong, making it the biggest winner in the Hang Seng Index

    (HSI)
    . They also gained 3.8% in New York during US trade Thursday.

    A day earlier, Baidu

    (BIDU)
    was the biggest loser of the same index. Its Hong Kong shares fell 6.4% after a public demonstration of its bot failed to impress investors. Since February, more than 650 companies had joined the ERNIE ecosystem, CEO Robin Li said during the presentation.

    The reversal came after the company said more than 30,000 businesses had signed up to test out its chatbot service within two hours of its demonstration.

    “The high degree of enterprise interest is positive, and we expect Baidu to continue to capture China’s enterprise demand for generative AI,” Esme Pau, Macquarie’s head of China and Hong Kong internet and digital assets, told CNN.

    She said the company’s shares were bouncing back Friday as some users, including analysts, shared positive feedback of their own experiences trying out ERNIE, which suggested the bot had more advanced capabilities.

    During the presentation, Baidu showed how its chatbot could generate a company newsletter, come up with a corporate slogan and solve a math riddle.

    But its stock slumped on Thursday because the demo was “pre-recorded, and not live, which makes investors skeptical about the robustness of the ERNIE Bot,” according to Pau.

    Baidu’s demonstration also came just days after the launch of GPT-4, which “raised the bar for ERNIE,” she added.

    GPT-4 is the latest version of the artificial intelligence technology behind ChatGPT. The service has impressed users this week with its ability to simplify coding, rapidly create a website from a simple sketch and pass exams with high marks.

    Pau noted that Baidu’s shares were already “down modestly” before showing off its software on Thursday, highlighting pressure from investors who had raised expectations following the GPT-4 launch.

    “ERNIE also does not have the [same] multilingual capability as GPT-4, and has yet to improve for English queries,” she said. “Also, the ERNIE launch did not provide sufficient quantifiable metrics compared to the GPT-4 launch earlier this week.”

    Like ChatGPT, ERNIE is based on a language model, which is trained on vast troves of data online in order to generate compelling responses to user prompts.

    Li said Baidu’s expectations for ERNIE were “close to ChatGPT, or even GPT-4.”

    But he acknowledged the software was “not perfect yet,” adding it was being launched first to enterprise users. The service is not yet available to the public.

    Baidu announced its chatbot last month. Some critics say the service will add fuel to an existing US-China rivalry in emerging technologies.

    Li tried to shake off that comparison during the launch, saying the bot “is not a tool for the confrontation between China and the United States in science and technology, but a product of generations of Baidu technicians chasing the dream of changing the world with technology.”

    “It is a brand new platform for us to serve hundreds of millions of users and empower thousands of industries,” he said.

    Baidu says its service stands out because of its advanced grasp of Chinese queries, as well as its ability to generate different types of responses.

    “ERNIE Bot can produce text, images, audio and video given a text prompt, and is even capable of delivering voice in several local dialects such as the Sichuan dialect,” the company said in a statement.

    By comparison, GPT-4 is also able to analyze photos, but currently only generates text responses, according to its developer, OpenAI.

    Baidu isn’t the only Chinese firm working on such technology. Last month, Alibaba

    (BABA)
    announced plans to launch its own ChatGPT-style tool, adding to the list of tech giants jumping on the chatbot bandwagon.

    So far, Baidu has a first mover advantage in the space in China, according to analysts.

    “Our view is ERNIE is three to six months ahead of its potential contenders,” said Pau.

    — CNN’s Mengchen Zhang contributed to this report.

    [ad_2]

    Source link

  • New Zealand joins US push to curb TikTok use on official phones with parliament ban | CNN Business

    New Zealand joins US push to curb TikTok use on official phones with parliament ban | CNN Business

    [ad_1]


    Hong Kong
    CNN
     — 

    New Zealand will ban TikTok on all devices with access to its parliament by the end of this month, becoming the latest country to impose an official bar on the popular social media platform owned by a Beijing-based tech conglomerate.

    Led by the United States, a growing number of Western nations are imposing restrictions on the use of TikTok on government devices citing national security concerns.

    Rafael Gonzalez-Montero, chief executive of New Zealand’s parliamentary service, said in a Friday statement that the risks of keeping the video-sharing app “are not acceptable.”

    “This decision has been made based on our own experts’ analysis and following discussion with our colleagues across government and internationally,” he wrote.

    “On advice from our cyber security experts, Parliamentary Service has informed members and staff the app TikTok will be removed from all devices with access to the parliamentary network,” he added.

    But those who need the app to “perform their democratic duties” may be granted an exception, he said.

    CNN has reached out to TikTok and its Beijing-based owner ByteDance for comment.

    In an email to members of parliament seen by CNN, Gonzalez-Montero told lawmakers that the app would be removed from their corporate devices on March 31, after which they would not be able to re-download it.

    He also instructed legislators to uninstall the app from their private devices adding that failure to comply may render them unable to access the parliamentary network.

    New Zealand lawmaker Simon O’Connor, who is also a co-chair of the Inter-Parliamentary Alliance on China (IPAC), told CNN that he welcomed the decision, calling it “a good one”.

    “I – and IPAC as a whole – have had serious concerns about data privacy for some time,” he said, adding that TikTok’s replies to his previous enquiries about data security had been “unsatisfactory”.

    IPAC is a cross-border group formed by legislators from democratic countries that is focused on relations with China and is often critical of Beijing’s leaders.

    New Zealand’s decision came on the heels of similar actions already taken by its Western allies, despite the country’s track record of a more cautious approach when it comes to dealing with Beijing, in part because China is such a significant trade partner.

    The United States, UK and Canada have ordered the removal of the app from all government phones, citing cybersecurity concerns.

    All three countries are part of the the so-called “Five Eyes” alliance that cooperates with each other on intelligence gathering and sharing. Australia and New Zealand make up the five.

    The Chinese video-sharing app is also barred in all three of the European Union’s main government institutions.

    Tik Tok has become one of the world’s most successful social media platforms and is hugely popular among younger people.

    The short video sharing app has more than 100 million users in the United States alone.

    New Zealand’s latest move came just hours after TikTok acknowledged that the Biden administration had threatened to ban its operation nationwide unless its Chinese owners agreed to spin off their share of the social media platform.

    US officials have raised fears that the Chinese government could use its national security laws to pressure TikTok or its parent company ByteDance into handing over the personal information of TikTok’s US users, which might then benefit Chinese intelligence activities or influence campaigns.

    China has accused the United States of “unreasonably suppressing” TikTok and spreading “false information” about data security.

    FBI Director Christopher Wray told the US Senate Intelligence Committee earlier this month that he feared the Chinese government could use TikTok to sway public opinion in the event that China invaded Taiwan, the self-ruled island that Beijing claims sovereignty over despite never having ruled it.

    TikTok has repeatedly denied posing any sort of security risk and has said it is willing to work with regulators to address any concerns they might have.

    [ad_2]

    Source link

  • Twitter could have a new rival — a platform created by Meta | CNN Business

    Twitter could have a new rival — a platform created by Meta | CNN Business

    [ad_1]


    New York
    CNN
     — 

    Facebook-parent Meta is exploring building a new, standalone platform for sharing text updates, the company confirmed to CNN on Friday, in what could mark the most high-profile new contender to take on Twitter as it falters under Elon Musk.

    “We believe there’s an opportunity for a separate space where creators and public figures can share timely updates about their interests,” a Meta spokesperson said in a statement to CNN, which essentially described Twitter’s mission statement without naming the platform.

    The platform, plans for which were earlier reported by Platformer and MoneyControl, would be decentralized, meaning users could ostensibly create different servers or communities, each with their own rules rather than one central platform controlled by Meta. The concept is similar to Reddit or Discord, but a departure from how Meta’s other platforms function.

    If Meta’s new platform were decentralized, it could allow third parties to build apps and features into the platform, potentially giving users experiences beyond what Meta itself might build.

    The effort, codenamed P92, is in its early stages and is being led by Instagram head Adam Mosseri, according to Platformer.

    Meta declined to comment beyond its statement, including in response to questions about the new platform’s potential features or a timeline for launch.

    A number of upstart platforms have in recent months attempted to capitalize as Twitter struggles with frequent outages, the return of controversial users and a drop-off in advertisers. Many of them had an early jump in users following Musk’s takeover at Twitter, but have since struggled to gain widespread adoption.

    Mastodon, a decentralized social network that was launched in 2016, grew its user base from 300,000 users to more than 2.5 million in the weeks after Musk completed his acquisition of Twitter in late October. But its growth has slowed in recent months, in part as users struggle with the somewhat less straightforward and user-friendly nature of a decentralized platform.

    A new service from Meta, however, could benefit from the existing, large user base of the company’s other platforms, including the two billion people who use Facebook daily.

    Plans for a new platform come as Meta is also shifting the strategy for its older platforms, emphasizing video and recommended content in an effort to better compete with TikTok. Earlier this week, Facebook head Tom Alison told CNN that the app is testing reincorporating messaging so that users don’t have to go to a separate app to share content they find on Facebook.

    [ad_2]

    Source link

  • Google Glass is being discontinued, again | CNN Business

    Google Glass is being discontinued, again | CNN Business

    [ad_1]


    New York
    CNN
     — 

    Google will no longer sell the latest Enterprise Edition of Google Glass, the company announced this week, effectively killing off an innovative but failed wearable product line from another era that many consumers may have assumed was long gone.

    First unveiled in 2013, Google Glass was initially marketed for a general audience, with the promise of giving people access to a computer on their face rather than having to pull out a phone. But the smartglasses were discontinued in 2015 after beta versions failed to gain traction due to its high price tag, clunky design and concerns about privacy.

    Google then shifted the focus from consumers to enterprise. The first Enterprise edition of Glass, announced in 2017, was pushed for use in industries such as manufacturing and logistics. The Enterprise Edition 2, released in 2019, was Google’s last attempt at saving the Glass product. But the $999 product failed to catch on.

    “Thank you for over a decade of innovation and partnership,” Google wrote on its FAQ page announcing the decision. The company will continue to support the phased out Enterprise Edition until September.

    Google did not respond to CNN’s request for comment.

    Google’s decision to discontinue the product comes amid cost cuts across the company. Like many of its peers, Google has recently announced plans to lay off thousands in response to recession fears and shifting pandemic demand for digital products.

    Still, the dream of Google Glass lives on. Snapchat’s parent company sells Spectacles, another set of smartglasses that has struggled over the years to gain traction. Apple is reportedly working on augmented reality glasses. And even after the setback of Glass, Google said last year it was continuing to test other AR glasses.

    “Augmented reality (AR) is opening up new ways to interact with the world around us,” the company said in a blog post last summer. “It can help us quickly and easily access the information we need — like understanding another language or knowing how best to get from point A to point B.”

    A decade after Google launched Glass with a similarly ambitious objective, the future is still coming into focus.

    [ad_2]

    Source link

  • Biden administration demands TikTok’s Chinese owners spin off their share or face US ban | CNN Business

    Biden administration demands TikTok’s Chinese owners spin off their share or face US ban | CNN Business

    [ad_1]



    CNN
     — 

    The Biden administration has threatened to ban TikTok from the United States unless the app’s Chinese owners agree to spin off their share of the social media platform, TikTok acknowledged Wednesday evening.

    The apparent ultimatum by a US multiagency panel known as the Committee on Foreign Investment in the United States (CFIUS) marks a possible turning point in the long-running negotiations between federal officials concerned about TikTok’s links to China and a wildly popular social media company with more than 100 million US users.

    The recent divestiture request was first reported Wednesday by the Wall Street Journal; TikTok later confirmed to CNN that CFIUS had contacted the company, adding that it did not dispute the Journal’s report. But TikTok declined to discuss specifics of the US government’s request, including details around its timing.

    “If protecting national security is the objective, divestment doesn’t solve the problem,” TikTok spokesperson Maureen Shanahan said in a statement. “A change in ownership would not impose any new restrictions on data flows or access. The best way to address concerns about national security is with the transparent, US-based protection of US user data and systems, with robust third-party monitoring, vetting, and verification, which we are already implementing.”

    TikTok has been negotiating with CFIUS — a group composed of the Departments of Treasury, Justice, Homeland Security, Defense and Commerce, among others — for more than two years on a deal that might allow the app to continue operating in the US market in the face of security and privacy concerns. US officials have raised fears that the Chinese government could use its national security laws to pressure TikTok or its Chinese parent ByteDance into handing over the personal information of TikTok’s US users, which might then benefit Chinese intelligence activities or influence campaigns.

    The Treasury Department, which chairs CFIUS, declined to comment.

    The talks with TikTok have stretched on without resolution, prompting criticism of the Biden administration by some US lawmakers who have pushed to ban the app through legislation.

    Late last year, Congress passed, and President Joe Biden signed, legislation blocking TikTok from US government devices, following in the footsteps of numerous state governments. Since then, the European Union and Canada have also followed suit, reflecting growing suspicion among western governments to TikTok. But so far, there has been no evidence that the Chinese government has actually accessed TikTok user data, and no government has enacted a broader ban targeting TikTok on personal devices.

    TikTok has sought to address policymakers’ concerns with voluntary technical and bureaucratic safeguards that it says will help ensure US user data may only be accessed by US employees. Part of that initiative, which the company calls Project Texas, involves storing personal data with the US cloud giant Oracle. TikTok launched a similar push in Europe this month that it calls Project Clover.

    That has not stopped TikTok’s US critics. Some US lawmakers have moved to expand Biden’s authority to impose a nationwide TikTok ban on top of the restrictions targeting US government devices, and independent of the CFIUS process — a proposal the White House quickly welcomed. The heat will likely intensify next week as TikTok CEO Shou Chew is expected to face a grilling before the House Energy and Commerce Committee.

    Wednesday’s development suggests a shift has occurred in the typically opaque CFIUS talks, though the exact nature of the movement remains unclear, according to Harry Broadman, a former CFIUS official.

    “It could be that the divestiture demand is the end of the discussion, but it’s also equally likely that the divestiture is a component of what CFIUS wants in terms of safeguarding national security,” Broadman said. “Unless I’m in the room at CFIUS, it’s really hard to know where the discussions are, and frankly, what’s discussed in public does not often coincide with what’s going on around the table.”

    [ad_2]

    Source link