EU Lawmakers Set New Rules to Regulate AI; Spotify’s Profit Soars; Vinted Considers Share Sale

Date:

European Union (EU) lawmakers have made significant progress in the regulation of artificial intelligence (AI). A critical element of new rules, known as the draft AI Act, has been agreed upon. Lawmakers have reached a consensus on most of Article 6, which will define the types of AI systems that need to be subjected to more rigorous regulatory scrutiny. This development marks an important step towards establishing a regulatory framework for AI in the EU.

Streaming giant Spotify has reported a surge in profit for the third quarter of 2023. The company now has 226 million premium subscribers, an increase from 220 million in the previous quarter and surpassing expectations by 2 million. Spotify’s strong performance can be attributed to the success of its cost-cutting measures and price hikes. The Stockholm-based firm reported a net income of €65 million on €3.4 billion in revenue for the period ending on September 30th.

Vinted, an e-commerce platform for preloved fashion, is considering a secondary share sale valued at over €200 million. The Lithuanian company is exploring its financial options with the assistance of Morgan Stanley, although discussions are still at an early stage. This potential share sale comes shortly after the launch of Vinted’s product verification service, which aims to authenticate the value of high-priced items listed on the platform.

The above news presents the latest developments in AI regulation, the impressive financial performance of Spotify, and Vinted’s exploration of a secondary share sale. These updates highlight the ongoing advancements and accomplishments in the technology and e-commerce sectors.

Please note that this article is generated by OpenAI’s language model.

See also  OpenAI Employees Demand Board Resignation & Altman's Return

Frequently Asked Questions (FAQs) Related to the Above News

What is the draft AI Act?

The draft AI Act is a set of rules being developed by European Union lawmakers to regulate artificial intelligence (AI). It aims to define the types of AI systems that should undergo more rigorous regulatory scrutiny.

What progress has been made in the regulation of AI by the European Union?

Lawmakers in the European Union have made significant progress in AI regulation by reaching a consensus on most of Article 6 of the draft AI Act. This is an important step towards establishing a regulatory framework for AI in the EU.

How has Spotify performed in the third quarter of 2023?

Spotify has reported a surge in profit for the third quarter of 2023. The company now has 226 million premium subscribers, surpassing expectations by 2 million and showing growth from the previous quarter.

What factors contributed to Spotify's strong performance?

Spotify's strong performance can be attributed to its cost-cutting measures and price hikes. These actions have helped the company improve its financial position and increase its revenue.

What is Vinted and what financial step is it considering?

Vinted is an e-commerce platform for preloved fashion. It is considering a secondary share sale valued at over €200 million, with the assistance of Morgan Stanley. However, discussions about this potential share sale are still in the early stages.

What recent service did Vinted launch?

Vinted recently launched a product verification service. This service aims to authenticate the value of high-priced items listed on the platform and provide assurance to buyers and sellers.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

Share post:

Subscribe

Popular

More like this
Related

China Implants Xi Jinping’s Beliefs in ChatGPT-esque Model

China implants Xi Jinping's beliefs in ChatGPT-style AI model to uphold socialist values and state authority in tech innovation.

Nvidia’s Record Revenue Forecast Boosts Nasdaq, Inflation Worries Limit Gains

Nvidia's record revenue forecast boosts Nasdaq while inflation worries limit gains - market sentiment stays cautious.

Elon Musk’s Terrifying Prediction: AI Will Take Over Jobs, Harming Children’s Future

Elon Musk predicts AI will take over jobs, posing a threat to children's future. Are we ready for a world where robots replace humans?

Harvard Graduates Urged to Fight Misinformation by Nobel Peace Prize Winner

Harvard Graduates are urged by a Nobel Peace Prize Winner to combat misinformation in a powerful call to action.