Europe establishes a ChatGPT working committee to develop a standard set of AI privacy guidelines. India says G20 individuals see the need for worldwide crypto guidelines.

The EDP Board has made a step to creating a unified policy on AI privacy standards on ChatGPT. Read more tech news.

Good morning tech fam, here are some quick tech updates for you to catch on to!

What's New Today:  Andy Jassy, CEO of Amazon, discusses AI, 27,000 job cuts, and more.

Fast-Track Insights: India says G20 individuals see the need for worldwide crypto guidelines.

By establishing a task force on ChatGPT, the European Data Protection Board (EDPB) has taken a significant step toward establishing a standard policy on artificial intelligence privacy regulations. This action comes in response to Italy's recent unilateral decision to restrict ChatGPT and Germany's data protection commissioner's indication that Germany may follow suit. Additionally, Spain's AEPD has announced that it will investigate ChatGPT for potential data breaches. ChatGPT is an artificial intelligence program that has gained attention for its capacity to quickly and comprehensively respond to various inquiries. With north of 100 million month-to-month dynamic clients, it is the quickest-developing customer application ever. Nonetheless, its rapid development affects well-being, protection, and work.

Amazon President Andy Jassy, in a yearly letter to partners, expounded on the violent year that the organization went through. He talked about the 'hard choice' of laying off 27,000 representatives in light of cost-cutting and the measures he needed to take to develop the platform. Amazon's second period of cutbacks occurred last month when the organization terminated 9,000 workers. In the main stage, the organization made 18,000 work cuts. During the new cutbacks, Jassy composed a letter to the representatives where he guaranteed that the choice "is best for the organization long haul".

AI's most pressing ethical issue is ensuring that these systems are developed and used responsibly and ethically. This requires careful consideration of the potential risks and benefits of AI, as well as the social and economic impacts that it may have. It also requires that AI system developers and users consider ethical principles such as fairness, transparency, and accountability. Another ethical issue related to AI is privacy. AI systems often rely on large amounts of personal data to function, and there is a risk that this data could be misused or mishandled. Concerns have been raised about the potential for AI systems to violate individuals' privacy rights and perpetuate discrimination and bias. Read More

Indian finance minister Nirmala Sitharaman said on Thursday there was a more prominent acknowledgment among a gathering of 20-part nations that any new guidelines on the crypto resources should be universally organized, and said crypto resources not upheld by national banks could fall and cause macroeconomic shakiness. "The G20 and its individuals concur that it won't be imaginable to have a free, independent nation managing the crypto resources," Sitharaman told a news gathering after a gathering of G20 finance priests and national bank lead representatives.