On The Daily (OTD) - 24th September 2024

Top Stories Today: Microsoft and Meta.

Table of Contents

Top Stories Today

Economy & Finance

Microsoft

Microsoft announced a $1.3 billion investment over the next three years to enhance its cloud computing and artificial intelligence infrastructure in Mexico. The initiative, revealed by CEO Satya Nadella in Mexico City, aims to boost connectivity and support the adoption of AI technology among small and medium-sized businesses (SMBs). Microsoft plans to reach 5 million Mexicans and 30,000 SMBs through this effort. Additionally, Microsoft is partnering with Viasat to provide internet access to over 150,000 previously unconnected Mexicans by the end of 2025. Incoming Economy Minister Marcelo Ebrard highlighted the investment as a significant step toward rapidly advancing Mexico's AI capabilities.

Technology

Meta

Meta Platforms announced that it will not immediately participate in the European Union's AI Pact, which serves as a temporary framework before the full implementation of the EU's AI Act. While Meta supports the harmonized regulations of the AI Act, which require companies to provide detailed summaries of the data used to train their AI models, the company is currently focusing on ensuring compliance with the AI Act itself. Meta may consider joining the AI Pact at a later stage, as it continues to prepare for the rules that will take effect in August 2026.

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