FTI Consulting News Bytes – 20 December 2024

FTI Consulting News Bytes

And that’s a wrap! In our final edition of TMT News Bytes for 2024, we start with a topic that has dominated the tech space all year—AI. This week, UKAI, a trade body set up to represent the AI sector, called on the government to introduce a dedicated regulator to oversee the development of AI. Next, we delve into Adsilico’s recent efforts to create AI-generated synthetic hearts to create safer, more inclusive medical devices. Elsewhere, a UK tech company raised £2.3 million in pre-seed funding to protect businesses targeted by disinformation attacks. We also reflect on another chapter in the UK’s online safety journey, with Ofcom publishing its first set of online safety rules for social media platforms and other sites to follow. Lastly, we cover reports suggesting that tensions are boiling over between Apple and Meta as the two tech giants attempt to navigate compliance with the European Union’s Digital Markets Act (‘DMA’).   

On behalf of TMT, we wish you and yours a Merry Christmas and a Happy New Year. 

This week’s news

UK AI regulator is on the Christmas wishlist

The UKAI, an AI industry group, has called for the establishment of a dedicated regulator for AI, citing its growing role in the economy, reports The Times. The organisation argued that a specific regulator is necessary to oversee the complexity of AI development across sectors and provide unified guidance, similar to the role of the Financial Conduct Authority for financial services. It comes as the government announced a consultation on Tuesday to find a legal framework that supports both AI and the creative industries. A proposed exemption to copyright laws, allowing tech companies to use music, books and other media to train their AI models, will likely anger many in the creative industry. However, in return, tech companies could be required to be more transparent about the content they have used to train their models, according to the Financial Times.

Could AI give me a new heart?

BBC News explored the potential of AI-generated synthetic hearts that can replicate various biological attributes such as age, weight, gender, health conditions and ethnic backgrounds, offering a more diverse population for clinical trials. By testing medical devices like stents and prosthetic valves on thousands of these digital hearts rather than just hundreds of human or animal participants, Adsilico aims to create safer, more inclusive medical devices and bring them to market quicker. Adsilico strives for a future where animal testing is no longer needed. However, challenges remain with data quality and biases in AI models, particularly concerning underrepresented populations.

Refute raises £2.3 million to take on fake news

Refute, a London-based company, has raised £2.3 million in pre-seed funding to help businesses protect themselves from coordinated disinformation campaigns, reported Tech.eu. These attacks, often state-sponsored or carried out by competitors, target companies, their executives, and supply chains across multiple channels such as social media, news, and blogs. Refute uses a data-driven approach to identify and respond to these campaigns quickly, allowing businesses to detect attacks early, reduce false positives and optimise their responses. With disinformation posing significant risks to business resilience, Refute’s solution aims to safeguard organisations from reputational damage and financial losses. The funding round was led by Playfair and Episode 1, with participation from Notion Capital and Amadeus Capital Partners. 

Ofcom introduces rules to clamp down on online harm

On Monday, Ofcom published the first set of online safety rules, requiring social media platforms and other sites to remove illegal content. This prompted a range of reactions. The Mirror highlighted criticism from The Molly Rose Foundation, established by the family of Molly Russell who took her own life after viewing suicide content on social media. The charity suggested the initial measures would allow “preventable illegal harm to continue to flourish”, noting its astonishment that not one single measure targeted suicide and self-harm material that met the criminal threshold. The Telegraph focused on “crisis protocols” due to be published by Ofcom in the Spring, which will require social media platforms to remove hate speech “even if they’re not sure it’s illegal”. 

Apple keeping things private

According to Bloomberg, Apple and Meta are said to be at loggerheads following repeated requests for access to the iPhone maker’s software tools. Apple has argued that granting access could compromise user privacy and security. The move highlights the escalating tension between the two tech giants as they navigate compliance with the European Union’s Digital Markets Act (DMA). Meta is said to have made 16 requests granting them access to iPhone mirroring, AirPlay and Apple devices connected to Bluetooth. The article added that the European Commission intends to review how Apple must comply with interoperability rules.

Top Tweets of the Week 

• Financial Times: Europe signs €10.6bn Iris² satellite deal in bid to rival Musk’s Starlink 
• Martyn Landi, Technology Correspondent at PA Media: “As Apple Intelligence starts rolling out in the UK, I spoke to @gregjoz about why the launch is a big deal for Apple, and generative AI in general” 
• TechCrunch: “Slip Robotics snags $28M for its bots that can load a truck in five minutes” 

Number of the week

25% The increase in size of brussels sprouts this year, according to The Guardian