Top 10 in Tech – July 2023

1- Apple Announced Lots of New Products in WWDC2023 

Apple’s annual Worldwide Developers Conference (WWDC) took place from June 6-10, 2023, and featured a number of exciting announcements, including the introduction of Apple Vision Pro, an Mixed Reality Headset; the 15-inch MacBook Air, along with the powerhouse Mac Studio and Mac Pro; the breakthrough M2 Ultra chip; and exciting new features coming to iOS 17, iPadOS 17, macOS Sonoma, watchOS 10, tvOS 17, and AirPods. 

Source: Apple

2- Meta Introduced Quest 3  

Meta, the parent company of Facebook, has announced the Meta Quest 3, the next generation of its virtual reality headset. The Quest 3 features a higher resolution display, a more powerful processor, and a slimmer, more comfortable design. It will also support Meta’s new Meta Reality technology, which promises to provide a more immersive VR experience. The Quest 3 will be released this fall, starting at $499.99 for the 128GB model.

Source: Meta 

3- The SEC has Filed a Lawsuit Against Binance and Coinbase 

The SEC has filed a lawsuit against Binance, the world’s 2nd largest cryptocurrency exchanges, alleging that the company illegally sold securities to U.S. investors. The SEC claims that Binance offered and sold tokens, including BNB and BUSD, to U.S. investors without registering them with the SEC. The SEC also alleges that Binance misled investors about its efforts to prevent U.S. investors from accessing its platform. The coinbase lawsuit came in less than 24 Hours after Binance Lawsuit, focusing on the exchange operating as an unregistered securities exchange. 

Source: TechCrunch

4- New European Union Regulations on AI 

The European Union has proposed a new regulation on artificial intelligence (AI), which would be the first of its kind in the world. The regulation would create a risk-based framework for the development and use of AI, with stricter rules for AI systems that pose a high risk to people’s rights and freedoms. The regulation would cover a wide range of AI applications, including facial recognition, biometric identification, and predictive policing. It would require AI systems to be transparent, explainable, and fair, and would give people the right to access and correct their data. 

Source: Europarl

5- IBM to Acquire Apptio for $4.6 Billion  

On June 26, 2023, IBM announced that it had entered into a definitive agreement to acquire Apptio, a leader in financial and operational IT management and optimization (FinOps) software, for $4.6 billion. The acquisition will accelerate the advancement of IBM’s IT automation capabilities and enable enterprise leaders to deliver enhanced business value across technology investments. Apptio’s FinOps software provides organizations with visibility into their IT spending, helping them optimize their costs and make better decisions about allocating resources. IBM’s acquisition of Apptio will combine the company’s strengths in IT automation and hybrid cloud with Apptio’s FinOps expertise, creating a comprehensive solution for IT financial management. 

Source: NewsRoom

6- Getir to Leave Spain 

Getir, a Turkish food delivery startup, will cease its operations in Spain and lay off its entire workforce of 1,560 after failing to raise enough capital in a recent funding round. The company’s decision to leave Spain comes after a number of other high-profile tech startups have also pulled out of the country in recent months, citing a challenging economic environment and regulatory hurdles. 

Source: Reuters

7- Meta is Developing a Text-based Social Media App to Compete with Twitter 

Meta, the parent company of Instagram, is developing a new text-based social media app that is codenamed “Project 92” or “Barcelona.” The app is designed to be a more “sanely run” alternative to Twitter, and it will integrate with ActivityPub, a decentralized social media protocol. This means that users will be able to take their accounts and followers with them to other apps that support ActivityPub, such as Mastodon. 

Source: The Verge

8- YouTube is Testing a New Way to Detect Ad Blockers 

YouTube is testing a new way to detect ad blockers that could prevent users from watching videos if they are using one. The new system, which is still in development, uses machine learning to identify users who are using ad blockers. If a user is detected as using an ad blocker, they will be shown a prompt asking them to disable it. If the user refuses to disable the ad blocker, they will not be able to watch videos. 

Source: The Verge

9- U.S. Considers Restrictions on AI Chip Exports to China  

The United States is considering new restrictions on the export of artificial intelligence (AI) chips to China, according to people familiar with the matter. The move is part of a broader effort by the Biden administration to counter China’s growing technological prowess. The new restrictions would target chips that are used in AI applications, such as facial recognition and autonomous driving. The restrictions would be similar to those that the U.S. has already imposed on other sensitive technologies, such as semiconductors and telecommunications equipment. 

Source: WSJ

10- Google Hit with EU Charge Sheet Over Ad-tech Dominance 

The European Commission has charged Google with abusing its dominance in the ad tech market. The Commission alleges that Google has used its market power to favour its advertising services over its competitors. 

Source: Bloomberg