18/01

Australia Establishes Specialized Agency to Monitor AI Risks

Australia is planning to create a special advisory body to address the risks associated with artificial intelligence (AI). The country's Minister for Science and Industry, Ed Husic, acknowledged that while AI has the potential to boost the economy, its use in business is inconsistent. A key concern is the lack of public trust in the technology, which is seen as a barrier to its adoption. Australia intends to collaborate with industry organizations to develop guidelines on AI usage, including the recommendation for tech companies to label AI-generated content. These guidelines will initially be voluntary, in contrast to the mandatory AI regulations implemented by the European Union. The Australian government aims to differentiate between "low-risk" uses of AI, such as filtering spam emails, and "high-risk" applications like deep fake content creation. By taking these steps, Australia intends to strike a balance between harnessing the benefits of AI and addressing potential harms.

https://internasional.kontan.co.id/news/australia-membentuk-badan-khusus-untuk-memantau-risiko-ai

Ship disruptions in the Red Sea push up sea freight prices

Shipping disruptions in the Red Sea caused by attacks from the Houthi armed group in Yemen are driving up the cost of consumer goods. The attacks have affected companies and raised concerns among major powers. The Houthis have threatened to expand their attacks to include US ships in response to American and British strikes on their bases in Yemen. The ongoing conflict between Israel and Palestinian Hamas militants in Gaza has also escalated. The Houthis claim to be acting in solidarity with the Palestinians. DP World CFO Yuvraj Narayan warns that European consumers will be the hardest hit by the disruptions, with the price of goods from Asia to Europe increasing significantly. War risk insurance premiums for shipments through the Red Sea are also rising.

https://internasional.kontan.co.id/news/gangguan-kapal-di-laut-merah-mendongkrak-harga-pengiriman-barang-via-laut

Blackstone Expands Business in Singapore

Global private equity firm, Blackstone, is expanding its business in Singapore, showcasing its commitment to the Southeast Asian region. Joe Baratta, Blacktone's Global Head of Private Equity, believes that now is the opportune time to pursue investment opportunities in Southeast Asia. He asserts that the expansion of their private equity business will greatly contribute to the development of the region's business landscape. Over the past decade, Blackstone's business in Singapore has grown substantially across various sectors, nurturing partnerships with investors, government, and companies. Meanwhile, Amit Dixit, Blackstone's Head of Private Equity for Asia, highlights the significance of Singapore as a hub for important investors, global businesses, and as a gateway to Southeast Asia. Blackstone's private equity branch in Asia is renowned for its size and strong track record of performance.

https://internasional.kontan.co.id/news/blackstone-ekspansi-bisnis-ke-singapur