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UK central bank to ease capital rules despite AI stability concerns, as Apple sues OpenAI
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UK central bank to ease capital rules despite AI stability concerns, as Apple sues OpenAI
The Bank of England is planning to relax post-2008 lending regulations while publicly warning of AI's financial risks, as Apple launches a trade secrets lawsuit against OpenAI.
- Bank of England governor Andrew Bailey warned Tuesday of a "triple whammy" of AI risks but did not recommend any new policies to guard against high valuations, Politico reported.
- Apple has sued OpenAI, alleging the company orchestrated a campaign to steal trade secrets, including through the startup of former Apple design chief Sir Jony Ive.
- OpenAI said in response to the lawsuit: "We have no interest in other companies' trade secrets."
- OpenAI's second-in-command, Fidji Simo, stepped down last week, leaving a leadership vacuum as the company prepares for a stock market debut.
Latest developments
- Apple has accused former engineer Zhang Liu in its lawsuit of exploiting an unknown Zero-Day vulnerability to steal confidential files from its cloud storage.
- The lawsuit states Liu accessed Apple's systems for weeks after leaving the company, downloading engineering designs and technical specifications for unreleased products.
Coverage
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