Fear of AI and GenAI Behind Eurpean Union Record $1.3 Billion Meta Fine

The European Union (EU) recently handed Meta, the owner of the Facebook social media platform, the largest data privacy fine on record, a EUR 1.2 billion ($1.29 billion) penalty for failing to properly safeguard European Facebook users’ data stored and processed in US data centers. The EU penalty is driven by concerns over artificial intelligence (AI) and Generative AI (GenAI), according to research conducted by GlobalData.

Tech Giants Advance in Generative AI with Multifaceted Approach, Says GlobalData

As the global appetite for generative artificial intelligence (GenAI) reaches unprecedented levels, technology behemoths such as Microsoft, Google, Meta, and Amazon are not merely allocating substantial resources to develop novel GenAI models but are also actively pursuing advancements in product offerings, foundational infrastructure, and strategic collaborations to strengthen their positions across the GenAI technology spectrum.