tl;dr
Microsoft (NASDAQ:MSFT) may face a fine from the European Commission if it fails to provide necessary information by May 27 regarding risks associated with generative AI features in Bing, as reported by Reuters. The Commission expressed concerns about the potential dissemination of deep fakes and au...
Microsoft (NASDAQ:MSFT) may face a fine from the European Commission if it fails to provide necessary information by May 27 regarding risks associated with generative AI features in Bing, as reported by Reuters. The Commission expressed concerns about the potential dissemination of deep fakes and automated manipulation of services, which could mislead voters. The Commission stated that it would take enforcement measures as it had not received a response to its request for information sent on March 14. If the deadline is not met, Bing could face a fine of up to 1% of its total annual income, with potential periodic fines of up to 5% of its average daily income. The company may also face fines for providing incorrect or misleading information. The EU's Digital Services Act (DSA) regulates online intermediaries and platforms, aiming to protect consumers and their rights online and prevent illegal and harmful activities, with a focus on the spread of disinformation. Very large online platforms (VLOPs) with over 45M users in the EU fall under the DSA. Generative AI is identified as a risk by the regulator, particularly concerning the upcoming European Parliament elections in June.
More about Microsoft Corporation
Microsoft Corporation is an American multinational technology company known for its Microsoft Windows operating systems, Microsoft Office suite, and Xbox video game consoles. In 2020, it ranked 21st in the Fortune 500 list by total revenue. As of 2016, it was the world's largest software maker by revenue. Microsoft is part of the Big Five in the U.S. information technology industry, alongside Google, Apple, Amazon, and Facebook.
Sector: Technology
Industry: Services-Prepackaged Software
Market Cap: 312.89B
Current Price: $36.48
Change: 2.93 ( 11.54%)
52-Week Range: $31.83 - $436.81
PE Ratio (TTM): 0.364
EPS (TTM): $236.58
Dividend Yield: 0.2%
Beta: 0.17