In today's ExchangeWire news digest: new research suggest developing AI models may breach draft EU legislation; V Pappas quits as TikTok COO; and the hearing for FTC's attempt to block Microsoft-Activision begins.

AI firms risk falling short of draft EU legislation

New research from Stanford University has warned that firms developing artificial intelligence models may fall short of the EU’s draft rules for the tech. The paper outlines the possibility of companies investing billions of dollars into developing AI models clashing with global regulators’ attempts to control it. In the Stanford-led study, 10 AI models were ranked against a number of draft EU rules, including summarising copyrighted data and disclosing the technology’s energy consumption. Each model fell short of one or more requirement, with six of the ten scoring less than 50%. 

TikTok COO steps down

V Pappas has announced their departure from social media giant TikTok. Pappas held the position of chief operating officer at the viral video app for five years, having previously served as YouTube’s global head of creative insights and audience development. In an internal email, Pappas told staff, “given all the successes reached at TikTok, I finally feel the time is right to move on and refocus on my entrepreneurial passions”.

FTC attempts to block Microsoft-Activision as hearing begins

The US Federal Trade Commission has begun stating its case to block Microsoft’s planned acquisition of Activision Blizzard before a federal court. The regulator is seeking an injunction against the USD$75bn (~£58.7bn) deal on the grounds that it could allow Microsoft to stifle competition in the gaming industry, particularly the flourishing cloud-gaming market.

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PressBox Digest

impact.com Announces Stellar Line-Up of Speakers at Flagship iPX2023 London Event

Havas Media Network Partners With Adelaide in North America to Build Industry-First Meaningful Ad Unit (MAU)

NumberEight & Adverty Announce Strategic Partnership for Market-First Real-time Demographic Targeting in In-Play Advertising

MiQ Partners with Legacy Media to Leverage ESG Data for Enhanced Sustainability Offering in the UK

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Fact of the Day

USD1.9tn (~£1.4tn) – Microsoft's market cap by close of 2022.

Source: Investing.com

Last week's tech teasers

Last week’s tech teasers were all about the Cannes Lions Awards, which marked 70 years of celebrating creativity. How well did you follow the action? Find out below:

• Wunderman Thompson – won two Grand Prix at Cannes Lion this year 🏆
• Spike Lee –  received Cannes’ first Maker of the Year award 🎥
• Spotify Wrapped – won Gold for 'Personalised Storytelling & Experience'  🥇
• Clean Creative – interrupted Richard Edelman in protest 🪧
• 6% – the amount by which entries to Cannes Lions up from 2022 📈

Challenge yourself on ad tech, martech, media, and commerce, by signing up to The Stack, where we publish a new quiz every Friday.