In today’s ExchangeWire’s news digest: The AI summit outcome; Amazon under fire for secret pricing algorithm; YouTube introduces new safeguarding features.
The AI Summit outcome
Last week, an AI summit was held in the UK to discuss AI related risks and possible mitigation – here’s a recap of events. At the two-day meeting, the Bletchley declaration was signed, a statement calling for global cooperation on tackling AI risks, including potential privacy breaches and job displacement. The declaration was signed by 28 countries, including the US and China. Sunak expressed a desire to ensure that safety issues are dealt with in a way that avoids hampering innovation in the industry. He also maintained that only governments are able to properly assess the risks which AI poses to national security.
Amazon under fire for secret pricing algorithm
In a lawsuit accusing Amazon of exerting monopoly power, US antitrust regulations have alleged that the tech giant generated over USD$1bn (~£820.4 m) in extra profit from a secret algorithm which controlled pricing. This algorithm was internally referred to as “Project Nessie” and had the function of increasing the prices of goods on its platform and consequently, across the market. The Federal Trade Commission accused Amazon of strategically deactivating the algorithm during periods of heightened outside scrutiny, and back on when scrutiny declined.
YouTube announces new safeguarding features
YouTube has announced additional product safeguarding measures in order to tackle child/teen safety concerns with its platform. In response to concerns over teens’ exposure to eating disorder content, the platform is introducing changes to its content recommendations aimed at teens. YouTube said it would limit repeated recommendations of videos on topics that can trigger body image issues, such as those which idealise a certain body type or fitness level. Additionally, it will limit the repeat viewing of videos which display social aggression.
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