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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/
For the first time, government departments have set individual targets for how much they will spend with small and medium-sized businesses (SME). In total, the government plans to spend £7.4 billion a year with SMEs by 2028.
For shareholders of owner-managed companies, dividends are still one of the most tax-efficient ways to take money out of the company. But with these increases coming in, it will be worth taking a fresh look at your extraction strategy.
