it will include the models behind popular chatbots like chatgpt. ai industry has faced scrutiny from regulators lately, over the pace at which it is developing technology to mimic human behaviour. the uk watchdog will assess whether or not ai provides an unfair advantage to companies that are able to afford the technology. let s speak now to stephanie hare, who s a tech expert. what will this review focus on? it will focus on may two things. because this is the competition authority, it will focus on ensuring open competition and consumer protection. that is very different from what we have been hearing leaders in al worrying about, which is a existential threat to humanity. it was only in the last few weeks that the godfather of ai quit and he talked about the dangers of ai. do we know what the risks are in regard to consumer protection? it we know what the risks are in regard to consumer protection? to consumer protection? it depends on how we want to consumer protection
in the united states where the central bank, the us federal reserve, has raised the cost of borrowing for the tenth time. the quarter percent rise puts the fed s main interest rate at between 5 and 5. 25% the highest it s been in 16 years. but has it done enough to tame inflation? or with banks struggling and recession looming, has the fed gone too far? our north america business correspondent samira hussain reports from new york. inflation remained stubbornly high, to try to get the cost of living back down to more normal levels the federal reserve has raised interest rates ten times in a little over a year, now it seems it may be ready to perhaps take a pause. the committee perhaps take a pause. the committee will perhaps take a pause. the committee will take - perhaps take a pause. the committee will take into account the cumulative tightening of monetary policy, le-s tightening of monetary policy, legs with which policy affects economic activity and inflation and ec
in what is being viewed in come circles as a sign that eurozone borrowing costs may soon reach their peak. the move mirrors the us federal reserve s quarter point rate rise on wednesday. central banks on both sides of the atlantic have dramatically raised rates since last year in response to a surge in inflation. professor christian de boissieu is emeritus professor of economics at the sorbonne university in paris. the lending service from the bank suggest that a credit crunch is looming. does that suggest to you that the era of credit cycle tightening has come to an end? i would first say that this credit cycle is not over yet. it is true that it cycle is not over yet. it is true thatitis cycle is not over yet. it is true that it is becoming more and more difficult for people to borrow, given the rising borrowing rates but if you take the example of the eurozone, i expect further increases in key rates before the fall. the cost of borrowing will continue to increase, there c
of a possible recession in the pipelines. our business reporter katie silva who has been looking into the details of the story for us, joins me now on the program. katie, it is always great to see you on asia business report and this seems like relatively good, doesn t it? it does. it has been welcomed in high quarters. president biden, for example, saying that it gives american families some breathing room and particularly pointing to the fact that we ve seen the greatest reduction in the costs of gas as well as food and grocery expenses things that are very important to american families. but the excitement should be tempered somewhat. of course, the us like many major economies pursues an inflation target in the order of around 2%, so 5% is still a long way off that, and if we were to take out those impacts of the fuel and food prices, that would leave us with a figure called core inflation and, in fact, core inflation actually rose, particularly driven by increase in co