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Meta, the company behind Facebook and Instagram, have had plans to use Facebook and Instagram user date to train generative AI.
The Information Commissioner’s Office (ICO), shared concerns with Meta that they had received from users in the UK. The ICO were subsequently pleased to report that Meta have responded by pausing and reviewing their plans.
ICO reported: “In order to get the most out of generative AI and the opportunities it brings, it is crucial that the public can trust that their privacy rights will be respected from the outset.”
ICO have confirmed that they will continue to monitor all the major developers of generative AI to check they have appropriate safeguards in place and make sure that the information rights of UK users are protected.
See: https://ico.org.uk/about-the-ico/media-centre/news-and-blogs/2024/06/statement-in-response-to-metas-plans-to-train-generative-ai-with-user-data/
The Chancellor, Rachel Reeves, has announced an expansion of the British Business Bank’s (BBB) Growth Guarantee Scheme (GGS). This provides a 70% government guarantee on commercial loans to SMEs of up to £2 million, cutting credit risk.
The government is consulting on potential measures that target Electronic Sales Suppression (ESS). Proposals include the introduction of new software standards for Point of Sale systems. Electronic Sales Suppression (ESS) involves businesses using software or devices to manipulate Electronic Point of Sale (EPOS) systems to hide transactions and evade tax.
