Tech5: Google, Microsoft, TCS, Infosys among 100 signatories to EU AI Pact
Forbes India's daily tech news bulletin with five headlines that caught our attention
Sep 30, 2024, 10:30 IST3 min
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Google, Microsoft, TCS, Infosys join EU’s AI Pact
Big tech companies, including Google and Microsoft, and India’s biggest IT services companies Tata Consultancy Services and Infosys are among more than 100 companies voluntarily joining the European Union’s (EU) artificial intelligence (AI) Pact, the European Commission announced on September 25.By joining the pact, the companies are signalling they’ll voluntarily work to ensure compliance with the EU’s upcoming AI Act. This diverse group includes major multinationals and SMEs across sectors such as IT, health care, and automotive. Signatories commit to implementing an AI governance strategy, mapping high-risk AI systems, and promoting AI literacy among staff.
Notably, over half have pledged additional commitments like ensuring human oversight and transparently labelling AI-generated content. The AI Act, partially in effect since August 1, 2024, will be fully applicable in two years, with certain provisions being activated sooner.
Contentious AI bill SB 1047 vetoed by California Governor Newsom
Meanwhile, in the US, California Governor Gavin Newsom has vetoed a significant AI safety bill, SB 1047, which would have held AI developers accountable for severe harm from their technologies, Bloomberg reported earlier today. Critics, including prominent Democrats and tech firms like OpenAI, argued it could hinder innovation.Newsom called the legislation “well-intentioned" but overly stringent, advocating for regulation based on empirical evidence. Senator Scott Wiener, who introduced the bill, said the veto was a setback for corporate oversight, asserting it would compromise safety. Supporters believed it would establish essential legal standards, while opponents feared it could drive AI talent out of California.
Apple no longer considering joining investment round in OpenAI
Apple has ended discussions to participate in OpenAI"s upcoming funding round, which could raise up to $6.5 billion, marking a rare investment the tech giant was considering, Wall Street Journal reported exclusively on September 27.The round, expected to close this week, will likely include Microsoft and Nvidia. Thrive Capital is leading the round with a $1-billion commitment. Other potential participants include Tiger Global Management and UAE-backed MGX. OpenAI is also restructuring from a non-profit to a for-profit entity, a complex transition that, if not completed in two years, could allow current investors to withdraw their funds, according to WSJ.
$4 billion Amazon Anthropic deal greenlighted as UK ends probe
Britain"s Competition and Markets Authority (CMA) said it will not investigate Amazon"s $4-billion partnership with AI startup Anthropic, stating it falls outside the regulator’s merger rules, Reuters reported on September 27.Amazon welcomed the decision, which aligns with a similar ruling regarding Microsoft’s collaboration with Inflection AI. However, Google’s parent holding company Alphabet"s partnership with Anthropic remains under scrutiny. An Anthropic spokesperson emphasised the company"s independence despite its strategic partnerships and significant investments from major tech players, according to Reuters. The growing trend of deals between startups and big tech has raised antitrust concerns globally.
Battery recycler Lohum planning joint venture with two US companies
Lohum, a New Delhi battery recycler and deep-tech startup, is planning to establish a joint venture in the US with ReElement Technologies and American Metals, focusing on battery recycling and supplying reconditioned materials, Electrive, a German-owned EV industry news and analysis site, reported on September 28.The partners have finalised a letter of intent to operate a plant at the Marion Advanced Technology Centre in Indiana, where ReElement is already active. The facility will have a capacity of 15.5 GWh, capable of supporting over 315,000 electric vehicles annually, with an initial investment of $30 million, according to Electrive.
In an interview with Electrive, Rajat Verma, Lohum"s CEO, emphasised the importance of building resilient supply chains through circularity. The plant aims to manage the entire battery lifecycle, from testing to recycling and mineral refining, producing materials with over 99.5 percent purity, particularly targeting lithium recovery.
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