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Data Act

Does the EU draft Data Act put trade secrets at risk?

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German engineering giant Siemens and German business software firm SAP have joined American IT juggernauts in denouncing new EU legislation on the use of data produced by consumer goods and other smart devices. Before the Data Act can be enacted as law, EU member states and EU legislators are working on its specifics.

Data Act
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The proposed law, which addresses corporate and consumer data from the EU, is one of several pieces of legislation designed to restrain the influence of American tech titans and aid the EU in achieving its digital and environmental goals.

The proposed rule has drawn criticism from the United States for being overly onerous, and German businesses have voiced concern that a section requiring corporations to exchange data with third parties in order to supply aftermarket or related data-driven services could jeopardize trade secrets.

Also Read: What is Apple’s rapid security response?

“It risks undermining European competitiveness by mandating data sharing, including core know-how and design data, with not only the user, but also third parties,” the companies warned in a joint letter to Commission President Ursula von der Leyen, EU antitrust chief Margrethe Vestager, and EU industrial chief Thierry Breton.

According to them, “effectively, this could mean that EU companies will have to divulge data to third-country rivals, particularly those not operating in Europe and against which the Data Act’s safeguards would be ineffective.”

The chief executives of the two firms, Siemens Healthineers, German medical technology company Brainlab, German software developer DATEV, and lobbying group DIGITALEUROPE were among the signatories to the letter, dated May 4, obtained by Reuters.

The letter urged that the list of devices covered by the law not be expanded and called for measures to allow companies to reject requests to divulge data where trade secrets, cybersecurity, health, and safety are in danger. The Commission acknowledged receiving the letter and stated that while it recognized the value of trade secrets, corporations shouldn’t exploit them as an excuse.

The Data Act does not seek to alter international or domestic trade secret laws. Trade secrets shouldn’t, however, be a justification for avoiding sharing data, said Johannes Bahrke, a spokesperson for the EU Commission, at a daily press briefing.

The EU draft Data Act is a proposed legislation aimed at regulating data access and use within the EU. While the Act primarily deals with personal data, it also has provisions that could impact trade secrets.

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One provision of the draft Data Act requires companies to disclose certain information about their data processing activities, including information about algorithms used to process data. This provision could potentially put trade secrets at risk, as companies may be required to disclose proprietary algorithms that give them a competitive advantage However, the draft Data Act also includes safeguards to protect trade secrets.

For example, companies would be able to request that certain information be kept confidential, and there are provisions in the Act that limit the disclosure of confidential information to specific parties, such as regulators or courts.

Nvidia

Nvidia short sellers lose $5 billion as shares rise more than 90%

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As reported by financial data company S3 Partners, short sellers of Nvidia Corporation have suffered losses of 5.09 billion USD to date in the current year since the stock has increased by more than 90 percent.

According to the company’s Wednesday report, the stock is the top losing equity short that has occurred in 2023, which is followed by Apple & Tesla.

Nvidia
Image Source: finance.yahoo.com

According to the report, while the stock has increased approximately 30 percent in that time, Apple’s short sellers have suffered a loss of 4.47 billion USD up to this point in 2023. According to the article, Tesla’s short sellers have suffered a loss of 3.65 billion USD so far this year since the stock has increased by around 33 percent.

Also Read: Google Rolls Out Passkeys to (Eventually) Kill Passwords

For the year thus far, Nvidia’s short interest has decreased by 7.04 million shares or 18 percent. The percentage of float that is short currently stands at 1.32 percent, which is the lowliest level since October 2022.

Following a disappointing statement from Advanced Micro Devices, Inc. (AMD) late on Tuesday, Nvidia stocks were down 1.1 percent in noon trading on Wednesday, along with drops in other chip manufacturers.

Shares are borrowed by investors who offer securities “short,” anticipating a decline in the stock price that will allow them to repurchase the shares at a less expensive rate, give them back to the lender as well, and earn the difference in cost.

NVIDIA Corp. creates and produces chipsets, processors, as well as associated multimedia software for computers. Tegra Processor, The Graphics Processing Unit (GPU), & All the additional components make up its functional units.

The GPU market is made up of product brands such as GRID used for visual computing customers and is based on the cloud, Tesla along with DGX for AI data scientists & big data experts, Quadro for creators, and GeForce for gaming enthusiasts.

Also Read: IBM to pause hiring in the plan to replace 7,800 jobs with AI

The Tegra Processor section incorporates a full computer into just one chip containing multi-core central processing units and graphics processing units to power supercomputing for controllers & smartphone games and entertainment gadgets in addition to robots that are autonomous, drones, and even vehicles.

The compensation based on stock cost, business infrastructure, support costs, expenditures related to the acquisition, legal settlement expenses, and various other non-recurring charges is all included in the “All Other” division.

Rapid Security Response

What is Apple’s rapid security response?

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Apple on Monday made the initial release of “rapid security” updates available to the public in an effort to quickly address security flaws that are being actively exploited or represent a serious risk to its users. The so-called Rapid Security Response upgrades, according to a notice, “deliver important security improvements between software updates.”

Rapid Security Response
Image Source: 9to5mac.com

Rapid Security Responses were made available so that Apple consumers may update their devices more quickly than it normally takes for a software update.

Apple claims that the feature is turned on by default and that, with some exceptions, some quick patches can be downloaded without a reboot.

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For users of iOS 16.4.1, iPadOS 16.4.1, and macOS 13.3.1, the rapid security update is now available. After being installed, it will change the software version to a letter, such as iOS 16.4.1(a), iPadOS 16.4.1(a), and macOS 13.3.1(a).

The quick security fix won’t be available to users of earlier versions of Apple’s os. In later software updates, according to Apple, fixes will be added.

The deployment on Monday, however, hasn’t gone as planned. Some customers reported having trouble installing the update. On an iPhone, iPad, and Mac used for testing by TechCrunch, the upgrades were downloaded but were not instantly installed.

Researchers have recently found new exploits created by spyware producers QuaDream and NSO Group that target iPhone users worldwide. Both spyware producers took advantage of previously unknown flaws in Apple software that let their government clients steal data covertly from a victim’s device.

Citizen Lab reported last month that Apple’s Lockdown Mode, a feature introduced last year to thwart similar targeted attacks, had effectively stopped at least one NSO-developed attack that took advantage of a flaw in HomeKit, the company’s smart home feature.

Apple’s rapid security response refers to the company’s approach to quickly identifying and addressing security vulnerabilities in its products. Apple has a dedicated team of security experts who work to proactively identify potential security risks and develop solutions to mitigate them.

Additionally, Apple has implemented various security measures such as two-factor authentication, encryption, and sandboxing to prevent unauthorized access to its products and services. In the event that a security vulnerability is discovered, Apple typically responds quickly by releasing a software update to address the issue.

The company also works closely with security researchers to identify and address vulnerabilities before they can be exploited by malicious actors.

Overall, Apple’s rapid security response is an essential aspect of the company’s commitment to protecting its users’ privacy and security.

From Candy to Billions: The Success Story of John Franklyn Mars

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John Franklyn Mars is an American businessman, born on October 15, 1935. He made a significant portion of his wealth from the family-owned firm. When their father passed away in 1999, John, along with his siblings Jacqueline, and Forrest Junior, received shares in the candy company Mars, Inc.

American conglomerate Mars, Inc. produces candy, pet food, and various other food items in addition to offering services for caring for animals. According to Forbes, it is the sixth-largest privately held firm in the country.

Image Source: alchetron.com

The Mars brand is well-known for its confectionery products, including Mars bars, M&Ms, Skittles, Snickers, Milky Way bars, & Twix, as well as non-candy snacks and foods. Not only that, but Mars also produces well-known pet food brands, which include Pedigree, Nutro, Whiskas, and Royal Canin.

John Franklyn Mars, the 29th-richest individual globally as of July 24, 2020, is projected to have a net worth of 31.3 billion USD, as per Forbes. But it wasn’t the only factor that propelled him to the top of Forbes’ list, his loyalty to the company also helped him cross many hurdles in life.

Also Read: From Homeless to Millionaire: Penny Streeter Success Story

John Mars entered his family’s firm in 1953 after earning his degrees from Yale University and the Hotchkiss School located in Lakeville, Connecticut, where he was born in 1935 to Forrest Mars Senior, who had a significant impact on the development of the business.

When John was a young child, his father declined to spend money on a luxury lifestyle so that he could grow his business, teaching him valuable lessons about sustainable lifestyles with food and money.

As time passed, he formed the practice of working for whatever he desired in life, refusing to accept privileges such as posh clothing, vehicles, or other luxuries. To make John and his brother Forrest Mars Junior useful people rather than playboys, their father subjected them to this hard lifestyle.

John Franklyn Mars was rewarded for his effort in childhood when he was young and able to support himself. John began serving in the US Army after receiving his Yale diploma in 1956 and served there for two years, from 1956 to 1958. With his father’s permission, he joined the family business. His first task was to launch an Australian pet food firm far from his home.

Even though the mission was difficult for a beginner businessman to complete, he purposefully came to Australia and began working on it. He developed his business steadily while picking up numerous lessons along the way, and today he oversees the company’s global pet food operations.

Another issue arose when, for the first moment in the entire history of the business, Hershey overtook Mars as the number one firm in the United States in 1988, demoting it to second place.

John helped his brother, Forrest Jr., restore the firm to its former status at this time, by acquiring Ethel M Chocolates, a business that their father had started after giving them control of Mars. This measure increased the company’s operations, and when combined with some wise choices, it helped the business regain its respectability in 1991.

John overcame every challenge on his way to becoming a prosperous businessman and is now regarded as Mars’ major leader and main intellect.

He is also credited with pushing the company towards automation, which enabled it to expand outside of the United States by improving productivity. So, John Mars’  training in the initial aspect of life made him reach unprecedented heights of accomplishment.

ChatGPT

Italy Restores ChatGPT after OpenAI Responds to Regulator

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According to the agency and the corporation, the ChatGPT chatbot has been reinstated in Italy after OpenAI resolved concerns expressed by the country’s data protection body.

After the Italian data protection authority, designated as Garante, temporarily suspended the chatbot and opened an investigation into the artificial intelligence program’s alleged violation of privacy laws, OpenAI powered by Microsoft, banned ChatGPT in Italy this past month.

ChatGPT
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Garante had granted OpenAI till Sunday for it to alleviate its worries before permitting the chatbot to resume operations in the nation.

Garante claimed a month ago that ChatGPT didn’t have any legal justification for the huge collection and storage of users’ personal data required to train the chatbot.

Also Read: OpenAI rolls out ‘incognito mode’ on ChatGPT

Garante had also charged OpenAI with failing to verify the legal age of ChatGPT users, who are required to be 13 or older. In response, OpenAI announced it will provide a tool to confirm the age of users in Italy at the time of registration.

The firm announced on Friday that it would make its privacy policy as well as input from users’ opt-out form more visible.

According to a company spokesperson, it will also make available an enhanced way for users in the European Union to take advantage of their privilege to protest its utilization of private information to train its models.

Individuals who wish to opt-out must fill out an elaborate form with their personal information, including any proof of data processing via pertinent prompts.

Garante expressed its appreciation for the measures made to balance technical advancement with adherence to human rights and expressed the hope that the firm would continue on this road toward achieving compliance with European data security standards.

Although ChatGPT’s swift growth has drawn the interest of lawmakers as well as regulators in multiple nations, Italy was the first Western European nation to restrict it.

Also Read: How Will ChatGPT Change Education and Teaching?

On Thursday, a panel of EU parliamentarians approved new regulations requiring companies using generative AI tools, including ChatGPT, to declare any copyrighted data used to create their systems.

The organization that unifies Europe’s national privacy regulators, the European Data Protection Board, established an investigation force on the chatbot previously this month in response to Garante’s concern regarding ChatGPT.

Garante stated that it will cooperate with the special task team and carry out its investigation into ChatGPT.

advertising

Is advertising the future of streaming?

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The rise of streaming services has revolutionized the way we consume media. With a plethora of streaming options, from Netflix to Hulu to Disney+, there has never been a better time to be a viewer.

However, with the increased competition between streaming services, the need for revenue has become more critical. Advertising has emerged as one of the ways streaming services can generate revenue, but is it the future of streaming?

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Advertising has been a part of television for decades, and with the rise of streaming services, it was only a matter of time before it made its way into the world of online streaming.

The appeal of advertising is clear: it generates revenue for the streaming service, allows for more affordable subscription prices, and can provide targeted advertisements to viewers. This is especially beneficial for smaller streaming services that don’t have the financial power of Netflix or Amazon Prime.

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The fastest-growing segment of the streaming industry right now is free, ad-supported platforms. Many platforms have quietly accumulated large content collections and millions of users over the course of their existence.

And now, they’re beginning to make a greater impact as consumers hunt for cheaper means to access entertainment and companies look for innovative ways to monetize. Free streaming has its allure already present in the name—it’s cost-free!

According to an increasing number of streaming customers, they already pay more than they would like to for their subscriptions, and a Deloitte poll conducted in the fall of last year indicated that 44% of respondents had canceled at least one subscription service in the previous six months.

In addition, Deloitte discovered that 59% of customers would be content to view a few adverts per hour as a substitute for a less expensive or even free subscription.

Netflix has already found that their ad-supported option, which costs $6.99 a month and features a few advertisements per hour, generates more revenue per user than pure subscriptions. There is also an ad-supported option for Disney Plus as well. As does Peacock, the newest Max service, and a growing portion of the rest of the sector. It seems that advertisements are the streaming industry’s future.

Also Read: Amazon sees cloud slowdown in April, shares erase gains

However, it may have its drawbacks too. Advertising may not be enough to sustain smaller streaming services in the long run. The streaming market is becoming increasingly saturated, with new services popping up all the time. To stay competitive, streaming services need to offer something unique, and advertising may not be enough to differentiate them from the competition.

Services like Netflix and Amazon Prime have the financial power to invest in original content, which is a significant draw for viewers. Smaller services may not have the same luxury, and relying solely on advertising may not be enough to keep them afloat.