Ireland’s Data Protection Commission (DPC) has launched a cross-border investigation into Google Ireland Limited to determine whether the company complied with EU data protection laws during the development of its artificial intelligence model, PaLM2. This investigation seeks to shed light on the use of personal data of EU citizens in the training of this advanced language model.
PaLM2, introduced in May 2023, is a language model that stands out for its multilingual, reasoning and coding capabilities, offering significant improvements over previous versions.
Google claims that PaLM2 is faster and more efficient, and is available in four different sizes: Gecko, Otter, Bison and Unicorn, each tailored to different use cases. Gecko, for example, is lightweight enough to run on mobile devices, even offline.
The Irish DPC has stressed the importance of carrying out a data protection impact assessment to ensure that individuals’ fundamental rights and freedoms are adequately protected, especially where the use of personal data could entail high risks.
UK introduces bill to recognise digital assets as legal property
The UK government has taken a major step towards modernising its property laws by introducing a bill that expands the definition of “property” to include digital assets such as cryptocurrencies, non-fungible tokens (NFTs) and carbon credits. This is the first time in UK history that digital possessions will be considered personal property under the law.
This move by the UK follows the submission of a draft consultation on cryptocurrencies by the Law Commission, which had previously suggested that cryptocurrencies should be classified as property. Under the new legislation, the definition of “property” will be expanded beyond “things in possession” and “things in action” to include a third type of “thing.” Specifically, those digital assets that confer personal rights.
The UK government anticipates that, if passed, this law will provide greater clarity in the management of digital assets under the laws of England and Wales.
Greece positions itself on the AI scene with a new data center driven by French investment
Greece continues to make strong strides in Europe’s growing artificial intelligence landscape, this time with ambitious plans for a new data centre near Athens. French company Data4 has announced an investment of almost €300 million to develop a data centre in Paiania, a suburb of the Greek capital.
Data4 CEO Olivier Micheli said the company is in negotiations with existing lenders as well as local Greek banks to finance this project, which is expected to significantly contribute to the local economy and digital ecosystem. Data4 currently operates data centres in six European countries, including Greece, and is targeting a €7 billion investment to expand by 2030.
Furthermore, the new centre in Greece could be expanded with two additional facilities, at an extra cost of 200 million euros. Although these expansions are still under negotiation with the local authorities.
Grayscale launches first XRP trust in the US with an eye toward future ETF
Renowned asset management firm Grayscale has taken a historic step by launching the first XRP trust in the United States. This could pave the way for the creation of a future exchange-traded fund (ETF) of this popular token. This move offers accredited investors direct exposure to XRP, Ripple’s digital asset.
The recent approval of the Bitcoin ETF by the SEC has opened the door for other similar products, such as Ethereum ETFs, and while expectations for a Solana ETF seem to have cooled, XRP is emerging as a strong candidate to follow in the same footsteps. Grayscale, always one step ahead, has laid out a detailed four-phase plan for the lifecycle of its XRP trust, with the possibility of applying for conversion to an ETF in the future.
What distinguishes this trust from a traditional ETF is its lighter structure in terms of regulation, as it does not require immediate approval from the SEC and is aimed at a more select audience of investors.
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