EU Tech Chief Calls for Voluntary AI Code of Conduct Within Months 

European Commission Executive Vice President Margrethe Vestager speaks to the press at the EU-US Trade and Technology Council (TTC) meeting in the Kulturens hus in Lulea, Sweden, on May 31, 2023. (AFP)
European Commission Executive Vice President Margrethe Vestager speaks to the press at the EU-US Trade and Technology Council (TTC) meeting in the Kulturens hus in Lulea, Sweden, on May 31, 2023. (AFP)
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EU Tech Chief Calls for Voluntary AI Code of Conduct Within Months 

European Commission Executive Vice President Margrethe Vestager speaks to the press at the EU-US Trade and Technology Council (TTC) meeting in the Kulturens hus in Lulea, Sweden, on May 31, 2023. (AFP)
European Commission Executive Vice President Margrethe Vestager speaks to the press at the EU-US Trade and Technology Council (TTC) meeting in the Kulturens hus in Lulea, Sweden, on May 31, 2023. (AFP)

The United States and European Union should push the artificial intelligence (AI) industry to adopt a voluntary code of conduct within months to provide safeguards while new laws are developed, EU tech chief Margrethe Vestager said on Wednesday.

The European Union's AI Act, with rules on facial recognition and biometric surveillance, could be the world's first comprehensive legislation governing the technology, but is still going through the legislative process.

"In the best of cases it will take effect in two and a half to three years’ time. That is obviously way too late," Vestager told reporters before a meeting of the joint EU-U.S Trade and Technology Council in Sweden. "We need to act now."

EU industry chief Thierry Breton said last week that Alphabet and the European Commission aimed to develop an AI pact as concerns mount about the impact on society particularly from generative AI, like ChapGPT, that create content.

Leaders of the G7 nations called earlier this month for the development of technical standards to keep AI "trustworthy", urging international discussions on topics such as governance, copyrights, transparency and the threat of disinformation

Vestager said there needed to be agreement on specifics, not just general statements, suggesting the European Union and the United States could help drive the process.

"If the two of us take the lead with close friends, I think we can push something that will make us all much more comfortable with the fact that generative AI is now in the world and is developing at amazing speeds," she said.

Vestager, a European Commission vice president, said a code of conduct come emerge quickly while governments and legislators from the EU to Canada to India establish rules.

"That is the kind of speed you need, to discuss in the coming weeks, a few months, and of course also involve industry ... in order for society to trust what is ongoing," she said.



Lenovo Q1 Revenue Jumps 20%, Beats Estimates as PC Market Recovers

An employee gestures next to a Lenovo logo at Lenovo Tech World in Beijing, China November 15, 2019. (Reuters)
An employee gestures next to a Lenovo logo at Lenovo Tech World in Beijing, China November 15, 2019. (Reuters)
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Lenovo Q1 Revenue Jumps 20%, Beats Estimates as PC Market Recovers

An employee gestures next to a Lenovo logo at Lenovo Tech World in Beijing, China November 15, 2019. (Reuters)
An employee gestures next to a Lenovo logo at Lenovo Tech World in Beijing, China November 15, 2019. (Reuters)

China's Lenovo Group reported a 20% rise in quarterly revenue on Thursday, as the global personal computer market showed signs of recovery after a two-year slump.

For the three months ending in June, the company's revenue rose to $15.4 billion, above the average estimate of $14.1 billion expected by analysts polled by LSEG.

This marks a third consecutive quarter of revenue growth for Lenovo after it suffered five straight quarters of revenue declines amid the post-COVID slowdown.

The global personal computer market has shown signs of recovery, with IDC data indicating a return to growth during the first quarter of this year after nearly two years of declines.

For the three months ended June, global PC shipments rose by 3% to 64.9 million units. Lenovo maintained its position as the market leader, holding a 23% market share, according to IDC.

Lenovo's shares down 0.99% in Thursday afternoon trading.

Lenovo has diversified beyond its core PC business, expanding into software and services in recent years.

The company's infrastructure solutions group, which includes servers and other hardware, grew 65% to $3 billion in revenue. Its solutions and services group grew 10% to $1.9 billion for the quarter.

Currently its non-PC business already made by 47% of its revenue mix and company chairman and CEO Yuanqing Yang told Reuters in an interview that this share will grow to 50% in the near future.

Yang said a resurgence in IT spending by businesses and AI-driven demand will boost the company's business lines across the board, including PCs, servers, and enterprise software.

The PC market is being fueled by the emerging trend of "AI PCs" - computers equipped with specialized chips optimized for AI software.

Lenovo, among the first to unveil AI PCs, launched two models in May. Yang projects 10% of Lenovo's shipped PCs will be AI PCs by year-end, potentially rising to 50-60% by 2026.

The AI boom coincides with rising China-US geopolitical tensions, including restrictions on advanced AI technology exports.

Yang said Lenovo was accustomed to such challenges and complies with regulations in all operating regions, enabling it to navigate these issues.

Lenovo's net income for the quarter was $243 million, above the average estimate of $222.94 million expected by analysts polled by LSEG.