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ChatGPT Rolls Out Service in Italy Weeks After Ban

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ChatGPT

OpenAI chatbot ChatGPT officially rolled out its service in Italy a few weeks after the company announced a set of privacy controls for its generative AI chatbot.

Currently, web users accessing ChatGPT from an Italian IP address are no longer met with a notification telling them that the service is disabled for users in Italy. Rather, they are met with a warm note saying “OpenAI is pleased to resume offering ChatGPT in Italy”.

Users are further mandated to be +18 and above to access the chatbot, or 13+ with consent from a parent or guardian to use the service.

The changes in how OpenAI presents ChatGPT to users in Italy are intended to satisfy an initial set of conditions set by the local data protection authority (DPA) for it to resume service with managed regulatory risk.

ChatGPT commencement of operation in Italy is coming after it was banned by the Italian data protection authority after it noted that there were privacy concerns relating to the model, which was created by US start-up OpenAI and is backed by Microsoft.

The move was followed by an order from the local data protection authority that it must stop processing Italians’ data for the ChatGPT service. This prompted the Italian regulator to ban and investigate OpenAI with immediate effect.

Also, the Garante announced it has opened an investigation into ChatGPT over suspected breaches of the European Union’s General Data Protection Regulation (GDPR), saying it’s concerned OpenAI has unlawfully processed Italians’ data. Garante also flagged worries over a lack of age restrictions on ChatGPT, and how the chatbot can serve factually incorrect information in its responses.

The regulator therefore disclosed that it will issue refunds to all users in Italy who bought the ChatGPT Plus subscription service last month and notes, too, that it is “temporarily pausing” subscription renewals there so that users won’t be charged while the service is suspended.

In a bid to ensure its Chatbot aligns with Italian regulators, OpenAI reinstated its service in the European country with enhanced transparency and rights for European users and non-users.

Investors King understands that OpenAI sent a letter to the Italian SA describing the measures it implemented to comply with the order issued by the SA on 11 April. OpenAI explained that it had expanded the information to European users and non-users, that it had amended and clarified several mechanisms, and deployed amenable solutions to enable users and non-users to exercise their rights.

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Fintech

From Trading to Credit: Robinhood Launches No-Fee Credit Card with Gold Membership Perks

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Robinhood

Robinhood Markets Inc. has announced the launch of its highly anticipated no-fee credit card and it was accompanied by exclusive perks for Gold membership subscribers.

This bold move is a step in the company’s mission to evolve into a comprehensive financial services provider.

The Robinhood Gold Card boasts an array of enticing features. Chief among them is the absence of annual costs or foreign transaction fees, positioning it as an attractive option for consumers seeking financial flexibility.

Moreover, cardholders stand to benefit from a generous 3% cash back on all categories of purchases, a competitive offer in comparison to industry rivals.

Vlad Tenev, CEO of Robinhood, emphasized the company’s commitment to innovation and industry leadership in an interview.

He expressed the intention to not merely introduce a credit card, but to revolutionize the market with a product that sets new standards for customer satisfaction and financial empowerment.

The announcement has sparked enthusiasm among investors, with Robinhood’s shares witnessing a 6.9% surge in early market trading following the news.

This surge further underscores the market’s confidence in the company’s strategic direction and its potential to disrupt traditional financial services.

Beyond the credit card venture, Robinhood has been steadily diversifying its offerings. With the introduction of retirement products and the expansion of commission-free trading services internationally, the company is positioning itself as a formidable player in the global finance landscape.

As Robinhood continues to innovate and expand its suite of services, its trajectory suggests a promising future as a leading force in democratizing access to financial tools and services.

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Telecommunications

NCC Files Copyright Infringement Charges Against MTN Nigeria and Others

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Karl O Toriola - Investorsking.com

The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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Telecommunications

MTN’s MoMo Sees 32.2% Surge in Transaction Volumes

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MTN Nigeria - Investors King

MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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