Britain to Give New Tech Regulator Statutory Powers

Skyscrapers in The City of London financial district are seen from City Hall in London, Britain, May 8, 2021. REUTERS/Henry Nicholls
Skyscrapers in The City of London financial district are seen from City Hall in London, Britain, May 8, 2021. REUTERS/Henry Nicholls
TT

Britain to Give New Tech Regulator Statutory Powers

Skyscrapers in The City of London financial district are seen from City Hall in London, Britain, May 8, 2021. REUTERS/Henry Nicholls
Skyscrapers in The City of London financial district are seen from City Hall in London, Britain, May 8, 2021. REUTERS/Henry Nicholls

Britain will give statutory powers to a new technology regulator so it can enforce pro-competition rules and prevent tech giants including Google and Facebook from using their dominance to push out smaller firms and disadvantage consumers.

“The government will introduce legislation to put the Digital Markets Unit on a statutory footing in due course,” the Department of Culture, Media and Sport (DCMS) said in a statement on Thursday.

A spokesperson for the DCMS declined to comment when asked if legislation will be included in the government's program for the coming year, due to be outlined in the Queen's Speech on May 10.

The Digital Markets Unit (DMU) was launched in non-statutory form within the Competition and Markets Authority (CMA) last year to make sure tech companies don't abuse their market power.

The change would give the unit stronger enforcement powers, Reuters reported.

The DCMS said its proposals would make it easier for people to switch between Apple iOS and Android phones or between social media accounts without losing their data.

Smartphone users could get more choice of search engines and social media platforms and more control over how their data is used by companies.

The DCMS said small and medium-size businesses would get better pricing from big tech firms that they use to trade online. The firms would need to warn smaller companies about changes to their algorithms that drive traffic and revenues.

The proposed measures would also make sure news publishers are able to monetize their online news content and be paid fairly for it. The DMU would have the power to step in to solve pricing disputes between news outlets and platforms. App developers would be able to sell their apps on fairer and more transparent terms.

“We want to level the playing field and we are arming this new tech regulator with a range of powers to generate lower prices, better choice and more control for consumers while backing content creators, innovators and publishers, including in our vital news industry,” said digital minister Chris Philp.

The DCMS said the DMU will be able to levy fines of up to 10% of annual global turnover.



AI Cloud Provider SMC Plans Global Rollout

People attend a media tour of Sustainable Metal Cloud's Sustainable AI Factory in Singapore July 25, 2024. REUTERS/Caroline Chia/File Photo Purchase Licensing Rights
People attend a media tour of Sustainable Metal Cloud's Sustainable AI Factory in Singapore July 25, 2024. REUTERS/Caroline Chia/File Photo Purchase Licensing Rights
TT

AI Cloud Provider SMC Plans Global Rollout

People attend a media tour of Sustainable Metal Cloud's Sustainable AI Factory in Singapore July 25, 2024. REUTERS/Caroline Chia/File Photo Purchase Licensing Rights
People attend a media tour of Sustainable Metal Cloud's Sustainable AI Factory in Singapore July 25, 2024. REUTERS/Caroline Chia/File Photo Purchase Licensing Rights

Singapore-headquartered AI cloud provider Sustainable Metal Cloud (SMC) is planning to expand globally as its sees fast-growing demand for its energy saving technology, its CEO said on Thursday.

"Due to client demand, we’re looking to expand in EMEA (Europe Middle East and Africa) and North America," CEO and co-founder Tim Rosenfield said, Reuters reported.

The startup, a partner of AI chip giant Nvidia, already operates what it calls "sustainable AI factories" in Australia and Singapore and is set to launch in India and Thailand.

Its clients in Singapore, where it operates over 1,200 of Nvidia's high-end H100 AI chips, include Facebook owner Meta who uses SMC's cloud to run its Llama 2 AI model.

While most data centres depend on air cooling technology, SMC uses immersion technology, submerging servers from Dell fitted with GPUs (graphics processing units) from Nvidia in a synthetic oil called polyalphaolefin to draw heat away faster.

The technology behind the approach reduces energy consumption by up to 50% compared to traditional air cooling, according to the CEO.

Demand for AI is expected to increase 10-fold compared with 2023, according to the International Energy Agency (IEA).

The electricity consumption of data centres globally is expected to top 1,000 terawatt-hours in 2026, roughly equivalent to Japan's total annual consumption, the IEA said in March.

SMC is currently raising $400 million in equity and $550 million in debt according to a source with direct knowledge of the matter.

The company declined to comment. The fundraising was first reported by Bloomberg.