Tag: government’s
It’s déjà vu all over again as governments put Microsoft in their crosshairs
When Satya Nadella took over as Microsoft CEO nearly 20 years ago, he turned Microsoft into tech’s choirboy. Under his leadership, the onetime corporate shark that the US government prosecuted for violating antitrust laws became meek and mild, played nice with competitors rather than squashed them, and even worked hand-in-hand with the open-source movement.
It paid off. Freed from government’s harsh spotlight, Microsoft’s market value soared, and at $2.15 trillion today, it’s the second most valuable company in the world by market cap, second only to Apple’s $2.56 trillion.
US State Governments Try Lavishing Subsidies to Attract Chip and EV Factories
Georgia, Kansas, Michigan, New York, North Carolina, Ohio and Texas have made billion-dollar pledges for a microchip or EV plant, with more state-subsidized plant announcements by profitable automakers and semiconductor giants surely to come. States have long competed for big employers. But now they are floating more billion-dollar offers and offering record-high subsidies, lavishing companies with grants and low-interest loans, municipal road improvements, and breaks on taxes, real estate, power and water….
The projects come at a transformative time for the industries, with automakers investing heavily in electrification and chipmakers expanding production in the U.S. following pandemic-related supply chain disruptions that raised economic and national security concerns. One of the driving forces behind them are federal subsidies signed into law last summer that are meant to encourage companies to produce electric vehicles, EV batteries, and computer chips domestically. Another is that states are flush with cash thanks to inflation-juiced tax collections and federal pandemic relief subsidies. The number of big projects and the size of state subsidy packages are extraordinary, said Nathan Jensen, a University of Texas professor who researches government economic development strategies.
“It is kind of a Wild West moment,” Jensen said. “It’s wild money and every state seems to be in on it.”
Many of the companies drawing the biggest subsidy offers — such as Intel, Hyundai, Panasonic, Micron, Toyota, Ford and General Motors — are profitable and operate around the globe. Some lesser-known names in the nascent EV field are getting big offers too, such as Rivian, Volkswagen-backed Scout Motors and Vietnamese automaker VinFast. The subsidy offers are generally embraced by politicians from both major parties and the business elite, who point to promises of hundreds or thousands of jobs, massive investments in construction and equipment, and what they contend are immeasurable trickle-down benefits.
Still, academics who study such subsidies find them to be a waste of money and rarely decisive in a company’s choice of location.
Read more of this story at Slashdot.
UK government’s AI strategy to rely on existing regulations instead of new laws
The UK government has today published a white paper outlining its plans to regulate general purpose artificial intelligence.
The paper, published by the newly formed Department for Science, Innovation and Technology (DSIT), sets out guidelines for what it calls “responsible use” and outlines five principles it wants companies to follow. They are: safety, security and robustness; transparency and explainability; fairness; accountability and governance; and contestability and redress.
However, in order to “avoid heavy-handed legislation which could stifle innovation”, the government has opted not to give responsibility for AI governance to a new single regulator, instead calling on existing regulators such as the Health and Safety Executive, Equality and Human Rights Commission, and Competition and Markets Authority to come up with their own approaches that best suit the way AI is being used in their sectors.
UK to challenge governments that use tech for ‘tools of oppression’
The UK government’s International Technology Strategy, unveiled Wednesday, is a roadmap for helping the country reach “tech superpower status” by 2030 and challenge foreign governments that use technology for “tools of oppression.”
The strategy outlines four principles — to be open, responsible, secure and resilient — and details various priorities and actions, including international collaboration, to support the delivery of the UK’s Science and Technology Framework and establish a set of global technology-based partnerships to deliver “mutually beneficial” objectives.
UK to challenge governments that use tech for ‘tools of oppression’
The UK government’s International Technology Strategy, unveiled Wednesday, is a roadmap for helping the country reach “tech superpower status” by 2030 and challenge foreign governments that use technology for “tools of oppression.”
The strategy outlines four principles — to be open, responsible, secure and resilient — and details various priorities and actions, including international collaboration, to support the delivery of the UK’s Science and Technology Framework and establish a set of global technology-based partnerships to deliver “mutually beneficial” objectives.