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EU and US agree privacy framework to further develop global data regulations
The European Commission and the US have agreed a pact for the development of a new EU-US Data Privacy Framework , which aims to ease European concerns over any personal information that is shared with US intelligence agencies .
The EU-US agreement means Europeans will be allowed to object if they suspect that their data has been collected by American intelligence and means Meta , Google and other tech giants can continue sharing information with the US .
The news follows the recent UK and US ‘ Data Bridge ’, an extension of the Data Privacy Framework , set to boost over £ 79 million data exports , highlighting a global push for better regulation around data .
The Privacy Framework also pledges that only ‘ necessary and proportionate data ’ will be collected as a Data Protection Review Court , made up of US judges , will be created to hear the claims regarding objections .
Sridhar Iyengar , Managing Director of Zoho Europe , said : “ Data is a central business tool across many sectors , so it is encouraging to see the EU and US collaborating to further enhance its benefits . It has become one of the most valuable resources that businesses can use , informing strategic decision-making from forecasting to addressing operational inefficiencies to customer preferences and much more .
“ For the full benefits and potential of data to be realised , ensuring a safe and ethical approach to the collection , storage and use of personal data is essential for businesses .”
Quantexa commits to £ 200 million in AI investment by 2027
Quantexa , a global leader in Decision Intelligence ( DI ) solutions for the public and private sectors , has announced that it will invest an additional £ 125 million in the global Artificial Intelligence ( AI ) industry over the next three years to help clients advance the use of AI to protect , optimise and grow their organisations . By 2027 , Quantexa ’ s total global investment in AI will reach more than £ 200 million .
AI industry by £ 600 million as the multiplier effect is realised . Enterprises and government agencies are using Quantexa ’ s DI to become more effective and efficient at organising siloed , messy data to obtain 360-degree views of customers and suppliers to identify fraud , qualify eligibility for services , stop dangerous goods at borders or optimise supply chains .
The investment marks Quantexa ’ s continued advancements in AI with the preview of its generative AI technology , Q Assist . Quantexa also furthered its commitment to advancing the company ’ s existing AI Stack to enable its growing global ecosystem of clients and partners to unlock new industry-specific use cases for financial services , insurance , telecommunications , healthcare and in the public sector . Quantexa ’ s DI platform and suite of solutions for data management , customer intelligence , KYC , risk , fraud and financial crime have been deployed in over 70 countries .
Analysis from the University of Washington suggests this investment will boost the global
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