US Passes Bill Forcing ByteDance to Divest TikTok or Face Ban; EU Approves World’s First AI Law; Spotify to Launch Music Videos

by Aimee Newell Tarín on 14th Mar 2024 in News

On today’s ExchangeWire news digest: US Passes Bill Forcing ByteDance to Divest TikTok or Face Ban; EU Approves World’s First AI Law; Spotify to Launch Music Videos

On Wednesday, the US House of Representatives passed the bill which will see TikTok banned in the US if its Chinese parent company ByteDance does not divest it within 165 days. The bill passed with overwhelming bipartisan support, with 352 in favour versus 65 against. The bill is the latest in a series of measures which aim to address national security concerns about China. Both Democratic and Republican lawmakers have reported that their offices are receiving a large volume of calls from concerned citizens who oppose the legislation.

While the US makes moves to ban one of the world’s largest video platforms, the European parliament has approved the world’s first comprehensive law regarding AI. The AI Act, which is currently the world’s only set of binding requirements to mitigate AI risks, places the EU at the forefront of global attempts to tackle dangers associated with the technology. The act classifies products according to risk, and adjusts scrutiny correspondingly – AI will be regulated based on its capacity to harm society. Applications which are deemed to pose a “clear risk to fundamental rights” will be banned; those which are considered high-risk will have to adhere to a strict set of requirements.

In the music streaming landscape, Spotify has announced it will be launching music videos for Premium users across eleven markets. The beta version began rolling out on Wednesday with a limited catalogue of videos from a range of artists – eventually, the streaming giant plans to include thousands of songs. The regions testing out the new function include the UK, Germany, Sweden, Colombia, Indonesia, and Kenya, among others.