Vodafone begins job cull | OpenAI chief warns AI could damage election integrity

Vodafone to slash 11,000 jobs as new chief says firm ‘not good enough’

The UK telco giant plans to cut around a tenth of its global workforce, directly impacting UK headquarters. Margherita Della Valle, Vodafone’s new chief exec, said it has been struggling with higher energy bills and it has also seen sales dip in Germany, its biggest market, as well as Italy and Spain.

“To consistently deliver, Vodafone must change,” said Della Valle, who was appointed as Vodafone’s new chief in January. “My priorities are customers, simplicity and growth. We will simplify our organisation, cutting out complexity to regain our competitiveness.”

Matt Britzman, an analyst at investment firm Hargreaves Lansdown, agreed with Della Valle’s assessment of Vodafone’s business describing it as “lacklustre” in recent years.

https://www.bbc.co.uk/news/business-65607601

EU states green light the world’s first comprehensive crypto rules

The EU Parliament voted 517 in favour and 38 against to pass the Markets in Crypto Act, or MiCA. The legislation seeks to reduce risks for consumers buying crypto assets and mean providers can become liable if they lose investors’ crypto-assets.

The rules will impose a number of requirements on crypto platforms, token issuers and traders around transparency, disclosure, authorisation, and supervision of transactions, the EU Parliament said in a statement.

It added that the European Securities and Markets Authority (ESMA) will be able to step in and ban or restrict crypto platforms if they are seen to not properly protect investors, or threaten market integrity and financial stability.

https://www.cnbc.com/2023/04/20/eu-lawmakers-approve-worlds-first-comprehensive-crypto-regulation.html

OpenAI chief warns US Congress the use of AI in elections is a “significant area of concern”

The CEO of OpenAI Sam Altman told a Senate panel that the use of artificial intelligence to interfere with election integrity is a “significant area of concern”, adding that it is an area that needs regulation.

“I think we also need rules, guidelines, on what’s expected in terms of disclosure from a company providing a model,” Altman said about elections and AI, adding “I am nervous about it.”

Altman also advocated for licensing or registration requirements for AI with certain capabilities. That way, he said the US can hold companies to safety standards, for instance testing systems before their release and publishing the results.

https://www.nasdaq.com/articles/openai-chief-concerned-about-ai-used-to-compromise-elections

Shell explores new AI technology in deep sea oil exploration

Shell will use AI tech firm SparkCognition’s AI algorithms to process and analyse large amounts of seismic data in the hunt for new oil reservoirs.

“We are committed to finding new and innovative ways to reinvent our exploration ways of working,” Gabriel Guerra, Shell’s vice president of innovation and performance, said in a statement.

The goal is to improve operational efficiency and speed, and increase production and success in exploration. The new process can shorten explorations to less than nine days from nine months, the companies said.

https://www.usnews.com/news/technology/articles/2023-05-17/shell-to-use-new-ai-technology-in-deep-sea-oil-exploration#:~:text=May%2017%2C%202023%2C%20at%201%3A01%20a.m.&text=NEW%20YORK%20(Reuters)%20%2D%20Shell,the%20companies%20said%20on%20Wednesday.