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Hello Codebreakers,

Welcome aboard another edition of 'Culture, Code, Commerce'

Today's Highlights:

• EU's AI Regulation

• Google's AI Model Gemini

• Teens Prefer YouTube Over TikTok

• AI Is Enabling Holiday Scams

Let’s dive in!

Europe Set a New Global Standard with Ambitious AI Regulation

European Union officials finalized a groundbreaking AI regulation law, aiming to balance risk management and technological innovation.

Key Points:

• The AI Act targets high-risk AI applications, requiring extensive disclosure and testing, and bans certain practices like creating facial recognition databases from internet or security footage.

• Significant fines of up to 7% of global revenue can be imposed for violations, signaling a stringent approach towards AI regulation and compliance.

"Tech companies that want to do business in the 27-nation bloc...would be compelled to disclose data and do rigorous testing, particularly for 'high-risk' applications in products like self-driving cars and medical equipment." - Washington Post

💡 What this means for you:

• Review and potentially adjust your company's AI strategies and technologies to align with these new regulations, especially if your business interacts with EU markets. This could involve conducting thorough risk assessments and ensuring transparency in AI applications to avoid heavy penalties.

Google Unveiled 'Gemini': The Next-Gen AI Powerhouse

Google launched 'Gemini', a groundbreaking AI model designed to enhance various applications, from mobile devices to large-scale projects. It’s already outperforming OpenAI's GPT-3.5.

Key Points:

• Gemini's three models cater to different needs, with Ultra being the most advanced and Nano optimized for mobile applications.

• The model will power Google's consumer AI apps and be available for licensing via Google Cloud, indicating a new era in AI accessibility and application.

"Gemini Ultra is the first model to outperform human experts on MMLU (massive multitask language understanding), showcasing its advanced capabilities in understanding complex subjects and nuance." - CNBC

💡 What This Means for You:

• Consider integrating Gemini into your business's tech stack, especially in areas like customer service chatbots or content creation, to stay ahead in the competitive holiday market and make data-driven decisions.

Teens Prefer YouTube Over TikTok

A recent Pew Research Center report reveals that American teens favor YouTube over TikTok, with a significant increase in almost constant use of social media since 2015.

Key Points

• YouTube remains the top platform among teens, surpassing TikTok, Snapchat, Instagram, and Facebook.

• The report highlights a significant shift in social media usage among teens since 2015, with YouTube and TikTok leading while Facebook and Twitter usage declines.

"In the survey, 93% of the teens said they used YouTube, compared to 63% who said they used TikTok." - Pew Research

💡 What This Means for You:

• Integrating YouTube into your marketing strategy could be more effective for reaching teens. Evaluate your current social media strategy and consider increasing your presence on YouTube. Explore creating engaging, youth-oriented content that resonates with this audience to enhance brand visibility and engagement.

The Holiday Scam Season: AI Tools Raise the Stakes

AI technologies like ChatGPT are being exploited by scammers to create more convincing phishing emails, offering fake discount codes and shopping deals, especially during the holiday season.

Key Points:

• AI chatbots, including ChatGPT, are being used to craft grammatically correct and more persuasive phishing emails, making them harder for consumers to detect.

• Retailers are seeing an increase in phishing attempts, with less than half of U.S. online retailers having implemented high-level email authentication security.

"Less than half of U.S. online retailers have implemented a high-level security tool that authenticates that an email was actually sent by the retailer," - Email security company Proofpoint.

💡 What this means for you:

• There's a growing need for businesses to authenticate their email communications and educate their customers on safe online shopping practices. Review and strengthen your company's email security protocols. Also, consider launching an informational campaign for your customers on how to identify and avoid phishing scams, reinforcing trust in your brand's communications.

Stay informed and adapt swiftly to these changes for a competitive edge this holiday season.

Until next week,

Keep innovating!

-Kofi (editor)