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AI & Enterprise

BIS warns AI investment boom exceeds railway, internet bubbles and collapse could threaten global economy

The Bank for International Settlements warned in its annual report released on June 28 that the AI investment frenzy could lead to a prolonged “investment collapse” and threaten the global economy. The BIS, which advises central banks, said funding could shrink sharply if big tech companies pouring billions of dollars into AI fail to deliver results commensurate with their investment. The report said the AI boom exceeds past bubbles such as railway expansion and the internet.

AI & Enterprise

D.Camp and JR East to cooperate on open innovation to support Korean startups in Japan

D.Camp said on Tuesday it will cooperate with East Japan Railway Co. (JR East) to support Korean startups entering the Japanese market and pursuing global commercialisation. The two organisations ran the “Startup OI Tokyo #SmartCity” programme in Tokyo at LiSH, a startup hub in Takanawa Gateway City. They also signed an MOU under which D.Camp will identify promising startups and connect them with collaboration opportunities, while JR East will provide a testing environment and network support.

AI & Enterprise

Europe steps up battle to cut reliance on US big tech as cloud law, political tensions intensify

European governments are expanding efforts to reduce reliance on U.S. software and cloud services and shift to European “sovereign technology.” The trend is linked to concerns over the 2018 U.S. CLOUD Act, which can require U.S. firms to provide access to data stored abroad. France is moving health data off Microsoft Azure to a sovereign cloud provider, and the European Commission has awarded sovereign cloud contracts to several European firms.