Monthly Brandtech Blend - February 2023

2023: the year of AI legislation?

Everything seems to be pointing towards tougher AI laws and regulations as of 2023, following growing concerns from regulators about conniving and false uses of AI. So what has already been put in place across the different regions? In Europe, for instance, the AI Act - a proposed European law on Artificial Intelligence - is the first legislation on AI by a significant regulator. You can find a thorough summary here of the EU’s key milestones in their AI journey. The EU’s approach has in fact been an exemplar of ethical AI advances. Other countries have followed with the USA publishing a draft AI Bill of Rights towards the end of last year, with the aim of piloting the implementation of automated systems, whilst other countries like the UK, Canada and Brazil, are currently working on putting in place similar regulations.The challenge, however, will be to regulate these new laws, and develop effective frameworks in order to reinforce the implementation of these regulations.

Watch this space!

Read more about it in Forbes and The Drum

A roundup of the CES 2023

The showcase of all things tech this year took place, as every other year, in Las Vegas.So what were the top AI trends observed at the Consumer Electronics Show this year? Discover below a selection of the most eye-catching gadgets:

Samsung had a lot to show for itself. From its new AI-powered smart oven with food-detecting sensors to its newest smart fridge, the 4-Door Flex, complete with an AI-powered camera that scans food labels in order to monitor the stock.

Samsung also presented AI-powered “auto-HDR” mode TVs; which use AI technology to analyze and apply high dynamic range (HDR) effects on standard dynamic range (non-HDR) content, using machine learning to examine the disparities between the two before making the conversion.

Whereas a number of wearable devices have been created to track sleep and give suggestions to optimize it, such as Apple, Fitbit, and Samsung to name but a few, Citizen’s new AI-powered, sleep-tracking smartwatch, CZ Smart, also showcased at the CES, is more sophisticated than most.

Want to find out more about all the latest tech trends showcased at the CES this year? Then just head to techcrunch.

A focus on the NRF 2023

Supply chain solutions, seamless customer experiences and sustainability took center stage at the National Retail Federation (NRF) conference which took place in New York City in January,  exploring how technology is transforming retail today. Let’s have a look at some of the new product announcements available at the NRF this year.IBM predicts 5G will dominate the retail industry’s tech investments in the coming year.For Cloud providers, the digitization of customer facing services needing computing power, is a great opportunity to provide more flexible user experiences by removing the hosting task from retailers’ hands.

To find out more about what went on at the NRF, read about it in techrepublic.

The fundamental concerns with the Cloud and Data Privacy

Financial organizations are also turning more and more to the Cloud. While the Cloud has allowed banks to tackle money laundering and fraud, it has produced technical, legal and ethical challenges. Data security and privacy need to be taken seriously in organizations at all levels.

What are the key trends which have had an impact on data security? Well, with the pandemic came remote working and increased data security risks; online banking and privacy issues; as well as an economic downturn. In addition, the ever-changing technology presents financial organizations with yet more challenges to maintain data security. And last but not least, banks need to comply with international regulatory regimes and requirements.

Consequently, data management is pivotal to the overall success of an institution. And how best to face this challenge?

Read more about this in Retailbankerinternational.