This week’s headline features the story from the European Union artificial intelligence rules are facing a make-or-break moment as negotiators try to hammer out the final details this week — talks complicated by the sudden rise of generative AI that produces human-like work. The big techs are advocating against the quoted “overregulation” that could subdue sector innovation.
Europe: Europe's world-leading artificial intelligence rules are facing a do-or-die moment. Stakeholders stress the necessity of effective AI regulation and the need for “more flexible and dynamic” regulations. The key challenge for EU negotiators revolves around regulating foundation models, posing a challenge to the law's logic based on specific use-case risks.
North America: ONE launches West India North America Service to enhance connectivity in the Indian subcontinent. Making the service rotation as Bin Qasim – Hazira – Nhava Sheva – Mundra – Damietta – Algeciras – New York – Savannah – Jacksonville – Charleston – Norfolk – Damietta – Jeddah – Bin Qasim. The proposed services will be operated by a fleet of 9 vessels all operated by ONE with the intended aim of providing customers with a fast and direct service.
South America: At the ninth CII India-LAC Conclave on the theme ‘Furthering Economic Partnerships for Shared and Sustained Growth’, External Affairs Minister S. Jaishankar S emphasized the scope of deeper two-way engagement between India, and Latin America and the Caribbean (LAC).
Asia: The gathering of Seven digital and technology ministers was held as part of the Hiroshima AI Process — a framework for G7 countries to discuss international regulations for generative AI, among other purposes.
Australia: Australia’s relationship with China remains fractious even as the country seeks to mend ties with its largest trading partner. While trade pressures push Australia to engage with China, security concerns, especially regarding the South China Sea, prevent a full reset in relations.
Africa: The South African rand weakened against a broadly stronger U.S. dollar on Thursday after local data showed a rise in producer inflation, a widening budget deficit and a trade deficit.
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