The usual mix of international companies, startups, government representatives and investors descended on Tel Aviv for the annual DLD Innovation Festival, a celebration that has become the central event of Israel's innovation week. Amidst all the hubbub of schmoozing and networking, two major Asian companies announced the launch of accelerators in Israel.
China's antitrust regulator imposed a fine equivalent to $2.8 billion against Alibaba Group Holding Ltd. for abusing its dominant position over rivals and merchants on its e-commerce platforms, a record penalty in the country that comes amid a wave of scrutiny on the business empire of company founder Jack Ma. China's State Administration for Market Regulation said Saturday in Beijing that Alibaba punished certain merchants who sold goods both on Alibaba and on rival platforms, a practice that it dubbed "er xuan yi"--literally, "choose one out of two." As part of the penalty, regulators will require that Alibaba carry out a comprehensive revamp of its operations and submit a "self-examination compliance report" within the next three years, they said. The 18.2 billion yuan fine is equivalent to 4% of the company's domestic annual sales, the regulator added. Under Chinese rules, antitrust fines are capped at 10% of a company's annual sales.
"Once a new technology rolls over you, if you're not part of the steamroller, you're part of the road." Some technologies fizz out over a period of time while some stay on the sidelines and then gain traction after startups, SMEs, and other MNCs fund it or integrate it in their operations. Regardless of changing trends, technology is inevitable. As time passes by, technology gets more and more advanced and pervades every facet of our lives from the way we live to the way we work. Driverless electric cars, AR and VR technology, and robot surgeons are some talk of the town technologies that have created a revolution that will grow for as long as humans continue to advance in their capabilities.
GOOGLE announced a draft of updates, changes, and new introductions to their latest products and innovations at their annual conference in California. The multinational tech giant focused on virtual reality and artificial intelligence during the showcase, and also announced a few new developments for their operating system, Android, which will affect its 1.4 billion users. Google's Android Pay – its rival being Apple Pay – just launched in the U.K. yesterday, having previously been an exclusive to the U.S. It also plans to expand Android Pay to Singapore and Australia this year, . Apple Pay on the other hand is already in China, Canada, Australia and Singapore, with Hong Kong and Spain in the works. The company will also be adding features to the Android operating system (O.S.) in a bid to outdo Apple's current O.S. Android users can expect better graphic and battery performances, and is also adopting a new security feature which allows users to encrypt specific files rather than the whole device.