New Delhi, July 16 (IANS) As the Western powers aim to harness AI to gain a strategic advantage in the new world order, the fact that this game-changing technology is currently concentrated in the hands of private companies has emerged as an important issue on how governments deal with the new technological landscape, according to a new report.This was highlighted at the G7 summit in France last month where the leaders of the world’s largest AI companies sat alongside heads of state and govern…
Latest AI industry News & Updates
Washington, June 23 (IANS) Microsoft Chief Executive Satya Nadella has issued a sharp warning against the growing concentration of power in the artificial intelligence industry, arguing that a handful of companies should not dictate the future of a technology that is reshaping economies, workplaces and societies.In an exclusive interview with The Wall Street Journal, Nadella outlined a vision for the next phase of the AI boom that centres on lower-cost models, greater user control and broader ac…
Washington, June 11 (IANS) US President Donald Trump has said he will soon meet the country’s leading artificial intelligence executives and suggested his administration is exploring ways to ensure Americans directly benefit from the enormous wealth being created by the rapidly expanding AI industry.Speaking at the White House after signing the Secure America Act, Trump described artificial intelligence as the most transformative industry the United States has ever seen and said maintaining Amer…
Seoul, April 7 (IANS) Samsung Electronics on Tuesday estimated its first-quarter operating profit to have surpassed 50 trillion won ($33.1 billion) for the first time, driven by strong demand for premium memory chips from the artificial intelligence (AI) industry.The South Korean tech giant projected an operating profit of 57.2 trillion won for the January-March period, surging from 6.61 trillion won a year earlier, according to earnings guidance released by Samsung Electronics.The operating pro…
Seoul, April 6 (IANS) South Korean stocks continued to trade higher late on Monday morning as investors anticipated a strong performance by Samsung Electronics in its first-quarter earnings guidance this week, boosting optimism in the artificial intelligence (AI) industry.The benchmark Korea Composite Stock Price Index (KOSPI) rose 116 points, or 2.16 per cent, to 5,493.3 as of 11:20 am (local time), reports Yonhap news agency.On Tuesday, Samsung Electronics is set to release its preliminary fir…
Seoul, Feb 19 (IANS) Science Minister Bae Kyung-hoon shared South Korea’s vision and latest policies in the artificial intelligence (AI) industry on Thursday at a global technology conference held in India, the ministry said.Bae took part in the ‘India AI Impact Summit 2026’, which kicked off on Thursday in New Delhi for a two-day run, sharing visions on utilising AI technology to serve the common values of humanity, according to the Ministry of Science and ICT.The ministry said the summit s…
Seoul, Feb 2 (IANS) Samsung SDI said on Monday it remained in the red in the fourth quarter of 2025 due mainly to sluggish demand for electric vehicles in the United States, although the performance of its energy storage system (ESS) business limited the losses.Net profit came to 207.8 billion won ($142.4 million) for the October-December period, compared with a loss of 242.7 billion won posted in the same period of 2024, the company said in a regulatory filing, reports Yonhap news agency.The co…
Seoul, Jan 22 (IANS) South Korea on Thursday formally enacted a comprehensive law governing the safe use of artificial intelligence (AI) models, becoming the first country globally in doing so, establishing a regulatory framework against misinformation and other hazardous effects involving the emerging field.The Basic Act on the Development of Artificial Intelligence and the Establishment of a Foundation for Trustworthiness, or the AI Basic Act, officially took effect Thursday, according to the …
Seoul, Jan 5 (IANS) Bank of Korea (BOK) Governor Rhee Chang-yong said on Monday that economic polarisation and uncertainty are expected to persist this year, stressing the need for careful and balanced policymaking.Rhee made the remarks during a meeting with the heads of financial companies and officials from relevant industries in Seoul, which was also attended by Financial Services Commission Chairman Lee Eog-weon and Financial Supervisory Service Governor Lee Chan-jin, reports Yonhap news age…
Seoul, Dec 24 (IANS) The number of South Koreans relocating to new homes fell to the lowest level in 51 years for any November amid sluggish housing transactions and demographic changes, data showed on Wednesday.Around 428,000 people changed residences last month, down 8.2 percent from a year earlier, according to data from the Ministry of Data and Statistics, reports Yonhap news agency.This marks the lowest November figure since 1974, when 394,000 people moved.Population mobility has been decli…