#1 | FTC hits Facebook with $5 billion fine

The Federal Trade Commission announced a $5 billion settlement with Facebook thus concluding a 16-month-long investigation into the company’s privacy policies. The fine is the largest ever imposed by the FTC against a tech firm and includes provisions that are set to improve the handling of user data. The entire case started in March 2018 after media reported that political consulting firm Cambridge Analytica improperly accessed and used data of almost 90 million Facebook users. But despite the massive fine, which represents around nine percent of the social media giant’s 2018 revenue, markets reacted mildly. Shares of Facebook were up 1.1 percent by the end of trading on Wednesday, adding more than $6 billion to its market cap. Also, the company will pay $100 million to the Securities and Exchange Commission to settle the charges that it made misleading disclosures about the misuse of user data. Read more here: http://bit.ly/2YkKxAX  https://cnb.cx/30Vh8L5


#2 | Apple mulls purchasing Intel’s modem unit

Apple is reportedly in discussions over the potential purchasing of Intel’s modem business. The talks are in advanced stages as the chip maker plans to offload the smartphone business unit for which it has no clear path to profitability. Apple is a potential buyer of 5G modem chips that will power its 5G-ready iPhones but the company’s sole supplier of such tech is Qualcomm. Having in mind the legal battles these two corporations were engaged in, it’s likely that American phone maker wants to diversify its supply chain. Taking over Intel’s patents and staff would save Apple years of development work and provide the Cupertino-based company with a greater degree of independence. Read more here: http://bit.ly/2yaDAUh https://zd.net/30QkrmO

 

#3 | Microsoft makes a $1 billion bet on OpenAI  

Microsoft is expanding its technological and financial partnership with AI research company OpenAI. The tech giant will invest $1 billion to support the development of artificial general intelligence, the kind of human-like AI capable of learning and understanding as seen in movies and TV shows. In return, OpenAI will use the Microsoft Azure cloud exclusively for developing, running, and commercializing its software. The two companies hope that cutting edge AI technologies will help humanity to tackle global challenges such as climate change as well as to provide personalized healthcare and education. Read more here: https://tcrn.ch/2yarevk http://bit.ly/2JQKm8q

#4 | Fujifilm’s new surveillance camera can read license plates from 1km away

Fujifilm, a Japanese photography and imaging company, has developed a surveillance camera called SX800 that boasts an impressive 40X optical zoom. The device is designed to be used at international borders, forest areas, and major commercial facilities such as airports, harbors, and highways. It can read a car’s license plate from 1km or roughly 0.6 miles away and proves that just because you don’t see a security camera, that doesn’t mean one can’t see you. Read more here: http://bit.ly/2K2I30Y


#5 | US cities test dynamic parking fees to prevent over-deployments of e-scooters

The tech platform Passport is testing alternative pricing models for electric scooter parking. Instead of a flat annual fee per scooter, US cities of Omaha, Charlotte, and Detroit will use dynamic parking pricing that depends on where and for how long the scooter is parked. The first 30 minutes of parking is free and the companies can get additional fee discounts by keeping machines off the sidewalks or showing commitment to safety. The goal of this project is to check whether dynamic fees can prevent an over-distribution of scooters on streets, which is becoming a major issue in many cities. Read more here: http://bit.ly/2KhHgJJ

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