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News/Media Alliance Calls on FTC, DOJ to Investigate Google’s Misappropriation of Digital News Publishing, Stop Expansion of Generative AI Overviews Offering

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Today, the News/Media Alliance sent a letter to the Federal Trade Commission (FTC) and the Department of Justice (DOJ), urging the agencies to investigate Google’s monopolistic taking of digital news publishing and stop its latest expansion through its use of generative artificial intelligence (AI) within its ubiquitous search product “before the effects become irreversible.”

ARLINGTON, Va., May 29, 2024 /PRNewswire/ — Today, the News/Media Alliance sent a letter to the Federal Trade Commission (FTC) and the Department of Justice (DOJ), urging the agencies to investigate Google’s monopolistic taking of digital news publishing and stop its latest expansion through its use of generative artificial intelligence (AI) within its ubiquitous search product “before the effects become irreversible.”

“AI companies and news publications should coexist, but one-sided, forced offerings without the ability to opt out does not achieve that goal.”

Focusing on Google’s new AI Overviews offering, the letter notes that Google is misappropriating newspaper, magazine and digital media publishers’ investments into high-quality journalism, starving publishers of traffic and creating conditions that encourage users to remain on its platform instead of clicking through to get the information directly from the original content creators.

Google’s Search Generative Experience (SGE), first introduced on May 10, 2023, and released nationwide effective May 14, 2024, uses publisher content to generate comprehensive “AI Overview” answers to user queries. In practice, this means Google is generating “new” content derived from the content in its search index, including original and breaking news content, which it prioritizes at the top of its search results. By letting “Google do the googling,” the express intention of AI Overviews is to reduce demand to third-party websites.

“Google is already known as the world’s dominant search engine, and the Department of Justice (“DOJ”) showed at trial how Google illegally monopolized that market. Now, Google is abusing its power in search to use publishers’ content – without payment or permission – to power Google AI Overviews and its other GAI products to exclude competition.” – News/Media Alliance letter to the FTC and DOJ

News/Media Alliance President and CEO, Danielle Coffey said, “AI companies and news publications should coexist, but one-sided, forced offerings without the ability to opt out does not achieve that goal. Google claims that this new product will result in increased traffic, but one of many studies estimates that 90% of users will never leave Google’s search results page. Disintermediating publishers and readers and preventing publishers from monetizing their content will inevitably lead to the further decline of our news ecosystem and critical reporting Americans want and need.”

In addition, by replacing the need for users to visit publishers’ underlying websites, Google’s AI Overviews have significantly reduced publishers’ ability to monetize their content through advertising, subscriptions, and affiliate links, and instead driven that monetization directly to Google.

The letter also raises Google’s recently enacted Site Reputation Abuse policy that has effectively eradicated publishers’ coupon pages, and sports betting, lottery, and gaming content from Google Search results, harming not only publishers but also the millions of readers and businesses who rely on such content.

“Adding insult to injury, Google’s SGE/AI Overviews almost immediately began showing promo codes in response to some queries, even as it delisted rival publishers’ coupon sites offering identical types of promotions,” the letter states.

Coffey said, “Over time the value exchange that once existed with opting into Google search is no longer the reality. Feeding more of our content to users inside Google’s walls has not in fact led to proportionally increased revenue, as the dominant search engine asserts. Our white paper previously submitted on this topic demonstrates the cause and effect of this dynamic. This is yet another practice that cuts against publisher’s interests and will lead to further decline of quality content these AI offerings rely upon to deliver accurate results. This is bad for society, and bad for the AI offerings themselves.”

Read the full letter here.

Media Contact

Lindsey Loving, News/Media Alliance, 571-366-1000, lindsey@newsmediaalliance.org, www.newsmediaalliance.org

 

View original content:https://www.prweb.com/releases/newsmedia-alliance-calls-on-ftc-doj-to-investigate-googles-misappropriation-of-digital-news-publishing-stop-expansion-of-generative-ai-overviews-offering-302157540.html

SOURCE News/Media Alliance

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Strictly Money Launches Crowdcube Campaign, Inviting European Investors to Fuel its Growth Journey

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LONDON, Dec. 27, 2024 /PRNewswire/ — Strictly Money Ltd, the London-based fintech, has launched a crowdfunding campaign on Crowdcube to invite European investors to fuel its next phase of growth. Crowdcube, Europe’s largest private market investment platform, has powered success stories like Revolut, Qonto, and Monzo. Regulated by the UK’s Financial Conduct Authority (FCA), Crowdcube provides a trusted and innovative platform for investors to participate in transformative ventures.

Strictly Money’s primary objective with this campaign is to accelerate its growth, fuel product development, and expand its shareholder base. The funding will enable Strictly Money to launch its payment card and banking app in early 2025 and to strengthen its market presence in Scandinavia, the UK, and Ireland. The company plans to introduce hedge fund returns products, broadening investment options for consumers by the end of 2025.

Discover how you can be part of Strictly Money’s growth journey by visiting our Crowdcube campaign at https://crowdcube.getstrictlymoney.com.

Will Povey, CEO and Co-Founder of Strictly Money, said: “At Strictly Money, our vision is to empower everyday investors with access to wealth-building tools and opportunities that were previously reserved for high-net-worth individuals. With this crowdfunding campaign, we aim to bring together a diverse community of investors who share our passion for financial innovation and inclusivity. This funding will not only help us launch our innovative debit card and app but also drive the development of new products that deliver real value to our users.”

About Strictly Money:

Strictly Money is a UK-based financial technology company set to launch a debit card and a cutting-edge banking app in early 2025. The company aims to democratize access to high-performing hedge fund returns, providing innovative investment strategies and financial solutions tailored to investors, savers, and entrepreneurs. Strictly Money’s mission is to open up premium investment opportunities traditionally limited to high-net-worth individuals (HNWIs). For more information, visit https://strictly-money.com.

For media inquiries contact:
Mary Prendergast
Email: ir@getstrictlymoney.com 

Important Notice: 

Investing in startups and early-stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution. It should be done only as part of a diversified portfolio. Crowdcube is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. Please read the full Risk Warning on Crowdcube’s website before deciding to invest.

Logo – https://mma.prnewswire.com/media/2588210/Strictly_Money_Logo.jpg

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HackIndia 2025 Expands to Reach 25,000 Students Across 150 Universities, Breaking Barriers to Web3 and AI Opportunities

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NEW DELHI, Dec. 26, 2024 /PRNewswire/ — HackIndia, the nation’s largest Web3 and AI hackathon series, is set to make a groundbreaking return in 2025. Building on the extraordinary success of HackIndia 2024, which engaged 9,000 students across 50 universities, HackIndia 2025 will grow its reach to 25,000 students across 150 universities, further solidifying its position as a transformative platform for India’s budding tech talent.

Organized by CSharpCorner, HackIndia’s mission is clear: to connect Indian students and universities with emerging Web3 and AI technologies by providing education, resources, and opportunities while eliminating barriers to entry. The initiative is not just a hackathon—it is a movement to empower India’s youth by fostering innovation, skill development, and career growth.

Empowering Students Through Innovation
HackIndia 2025 introduces an exciting new feature that will fuel real-world innovation. For the first time, teams will gain access to accelerated grants and industry mentors to develop their Web3 and AI projects beyond the hackathon stage. This initiative will enable young developers to transform their ideas into tangible solutions, pushing the boundaries of Web3 innovation in India.

Furthermore, HackIndia 2025 is addressing a crucial need for students by providing career pathways. The ten events will feature opportunities for participants to network with leading employers, explore career options, and even interview for roles within the Web3 and AI sectors. This addition reflects HackIndia’s broader commitment to not only educating students but also helping them secure meaningful employment.

A Legacy of Impact
HackIndia was created as part of CSharpCorner’s dedication to helping Indian students learn, earn, and grow. As a global community of 3 million developers and tech enthusiasts, CSharpCorner has consistently championed opportunities for Indian students, helping them access cutting-edge technology and mentorship. By expanding HackIndia year after year, the initiative has become a launchpad for India’s next generation of innovators, empowering them to succeed in the global tech economy.

“HackIndia is not just a series of events. It’s a movement,” said Stephen Simon, Director CSharp HackIndia. “By scaling HackIndia to new heights in 2025, we’re investing in India’s greatest asset—its youth—and paving the way for a brighter, more innovative future powered by Web3 and AI.”

HackIndia 2025 promises to be more than just a hackathon—it will be a stepping-stone for students to unleash their potential, build meaningful solutions, and shape the global future of technology.

View original content to download multimedia:https://www.prnewswire.com/news-releases/hackindia-2025-expands-to-reach-25-000-students-across-150-universities-breaking-barriers-to-web3-and-ai-opportunities-302339709.html

SOURCE CSharp Inc

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PEAK6 to Relocate Global Headquarters to Austin, Texas

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CHICAGO, Dec. 27, 2024 /PRNewswire/ — PEAK6 Investments LLC (“PEAK6”) today announced that, effective January 1, 2025, it will move its global headquarters from its current location in Chicago, Illinois to the company’s existing office in Austin, Texas, which it established in 2021. PEAK6 affiliates PEAK6 Group LLC, PEAK6 Strategic Capital LLC, PEAK6 APX Holdings LLC and PEAK6 LLC will also relocate their global headquarters to Austin. PEAK6 will maintain its office in Chicago.

Texas has been a cornerstone of PEAK6’s growth for over a decade,” said PEAK6 Co-Founder and Co-CEO, Matt Hulsizer, who continued, “With the majority of our talented workforce now based in Texas and Austin emerging as our largest office, moving our headquarters was an important decision to be closer to our team. We’re excited for the next chapter of PEAK6 that will be written from our new headquarters.”

Austin’s unique blend of creativity, technology and culture provides the ideal environment for PEAK6. The city’s highly educated workforce, business climate, and strong entrepreneurial spirit have enabled us to attract top talent and drive innovation.

About PEAK6

PEAK6 uses technology to find a better way of doing things. The company’s first tech-based solution was developed in 1997 to optimize options trading, and over the past two decades, the same formula has been used across a range of industries, asset classes, and business stages to consistently deliver superior results. Today, PEAK6 seeks transformational opportunities to provide capital and strategic support to entrepreneurs and forward-thinking businesses.

PEAK6’s core brands include PEAK6 Capital Management, PEAK6 Strategic Capital, Apex Fintech Solutions, We Insure, FOCUS, Zogo, Evil Geniuses and Poker Power.

View original content to download multimedia:https://www.prnewswire.com/news-releases/peak6-to-relocate-global-headquarters-to-austin-texas-302339437.html

SOURCE PEAK6 Investments

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