Google & TikTok Implement Changes to Comply With Digital Markets Act; Temasek in Discussions to Invest in OpenAI

by Aimee Newell Tarín on 6th Mar 2024 in News

On today’s ExchangeWire digest: Google & TikTok Implement Changes to Comply With Digital Markets Act; Temasek in Discussions to Invest in OpenAI

With the final compliance deadline of the EU’s Digital Markets Act coming into effect on 7th March, Google has been making updates to its services. In efforts to comply with the rules curbing the dominance of big tech, the tech titan has introduced changes for users, businesses and developers in the EU. Users and businesses will now be given the choice to discontinue data sharing across all Google services, among other options. Changes for developers include updates to third party apps and app stores, alternative billing, and an external offers programme.

TikTok is another big tech player currently grappling to implement changes to meet the Digital Markets Act’s requirements. Despite continuing to contest its designation as a gatekeeper by the European Commission, the video platform must still comply with the regulations for now. TikTok has already introduced data control options such as turning off personalisation in the app. Now, it has launched a Data Portability API – this will allow registered developers to request user permission to transfer a copy of their TikTok data. EU users will be able to authorise either a one-time or recurring transfer, selecting specific categories of data or their full archive.

In the APAC region, Singapore’s Temasek Holdings is in discussion about with OpenAI about investing in the company. The deal would be the first time the AI company receives funding from a state-backed group. Senior executives from Temasek, one of the world’s largest investors, have reportedly met with OpenAI’s chief executive Sam Altman several times. The negotiations come as Altman looks to fund plans to launch a semiconductor business which would allow the AI giant to become less dependent on the Nvidia chips it currently uses.