Europe

The European Central Bank has warned that there is a risk of a "bubble" in artificial intelligence-related stocks, which could burst suddenly if investors' optimistic expectations are disappointed. It is understood that the ECB issued the warning in its semi-annual financial stability report released on Wednesday. The report listed a variety of risks, including war, tariffs and banking system vulnerability. The ECB noted that stock markets, particularly in the United States, have become increasingly dependent on a handful of companies seen as beneficiaries of the AI boom. The ECB said, "This concentration of a few large companies has triggered a bubble in the prices of AI-related assets...

Recently, the US company Meta announced that it will begin using European users' data to train its artificial intelligence, claiming that this move has legitimate interests. Meta said that in order to help users get these experiences, it will now use users' information to develop and improve Meta's AI, and users have the right to object to their information being used for these purposes. The company has added updates to its privacy policy to reflect these changes. The update will take effect on June 26, 2024. The notice has been sent to European users through Facebook's in-app notification system: "…

Artificial intelligence startup Anthropic announced that its generative AI assistant Claude will be launched in Europe on Tuesday local time. The company's basic software products have gained some traction in industries such as finance and hospitality across Europe. Anthropic will also offer a paid subscription version called Claude Pro, which will open all its models (including the most advanced Claude 3 Opus) to users. In addition, Anthropic has launched a Claude Team subscription plan for enterprises, with a monthly fee of 100…

New Jersey-based GPU cloud computing company CoreWeave has opened an office in London, which will become its European headquarters, following its latest funding round, which valued it at $19 billion. CoreWeave announced that it will open two data centers in the UK this year as part of a £1 billion ($1.25 billion) investment, marking its first expansion outside the United States. Founded in 2017, CoreWeave is one of many AI cloud computing companies to benefit from the recent boom in the field of AI, including the Cha…

Google today pledged through a press release to invest 25 million euros (currently about 194 million yuan) to help Europeans learn to use artificial intelligence. The funds are open to social enterprises and non-profit organizations, and will be used to help people who are "most likely to benefit from training" in the future. According to reports, Google will open a series of "Growth Academies" to support companies in using AI to expand their company size. At the same time, Google will expand its free online AI training courses to 18 languages. "For artificial intelligence to benefit everyone, it must be created by everyone and for everyone...

Europe is increasing its investment in generative artificial intelligence (GenAI), but is moving more cautiously relative to North America, according to new research from the Infosys Knowledge Institute (IKI). The study predicts that European companies will increase their GenAI investments by $115% to $2.8 billion over the next year. Europe is investing at a slower pace than North America, where spending is expected to approach $6 billion. This more cautious investment is mainly due to ethical and bias issues in the more stringent European market. However, European companies are more cautious about the impact of GenAI on their business…

Job opportunities for young people and highly skilled workers actually increased rather than disappeared during the boom of deep learning in the 2010s, according to a study published by the European Central Bank (ECB) on Tuesday. The study examined the link between the share of employment related to AI technology in 16 European countries between 2011 and 2019. During this period, breakthroughs in areas such as language processing, image recognition, algorithm-based recommendations and fraud detection triggered a technological revolution, with generative AI like OpenAI’s ChatGPT …