The U.S. and European Union are seeking to establish joint policies that advance cooperation and democratic approaches to trade, technology, and security on both sides of the Atlantic. The second meeting of the U.S.-EU Trade and Technology Council (TTC) — May 15-16 in Saclay, near Paris — emphasized how Washington, Brussels and other free-market democracies should develop a joint response to the challenges presented by dictatorships and their controlled economies. In addition to semiconductor supply chain issues, topics including China’s digital clout, export controls for technology IP and human rights were discussed. Read more

Senator Michael Bennet (D-Colorado) has introduced a new bill, the Digital Platform Commission Act, which proposes the establishment of a five-person commission to protect consumers in the Big Tech era. This, even as attorneys for groups representing Facebook and Twitter on Friday filed with the U.S. Supreme Court an emergency request to block Texas House Bill 20. The companies argue the law compels social platforms to disseminate propaganda and misinformation, including racist and pro-Nazi screeds. Calling HB 20 “an assault on the First Amendment,” the companies claim its implementation could undo billions in development. Read more

Alphabet-backed research lab DeepMind last week released a new AI system called Gato that takes a step toward artificial general intelligence, or AGI, technology that enables machines to undertake and learn the same tasks as humans. Described by DeepMind as a “general purpose AI, Gato’s debut coincides with LinkedIn co-founder Reid Hoffman and DeepMind co-founder Mustafa Suleyman securing $225 million to fund Inflection AI, an artificial intelligence company the pair launched earlier this year to simplify communication between humans and computers. Neither investors nor valuation were disclosed. Read more

Google TV is working on an app that will let users cast content from multiple streaming services to a central TV or display. A new “central casting” button announced at the Google I/O developer conference will later this year allow the Google TV app on Android phones or tablets to send content from a variety of different streaming services to your TV through a single app. The Alphabet unit also updated statistics for its Android TV ecosystem, detailing 110 million monthly active devices using the Android TV OS, which includes Google TV. That’s an increase from 2021’s 80 million monthly active devices. Read more

The bottom fell out of the cryptocurrency market last week, wiping out more than $300 billion in a sell-off that underscored the risks of the unregulated digital currencies. Bitcoin fell below $27,000, its lowest point since 2020, as part of a larger trend that saw cryptocurrency exchange Coinbase lose half its value. The stablecoin TerraUSD “imploded.” The panic has been described as the biggest reset in cryptocurrencies since Bitcoin fell by 80 percent in 2018. But the current crash is more severe, since far more people and institutions are investing in digital currencies today. Read more