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World Economic Forum Chief Warns of Three Possible 'Bubbles' in Global Economy

3 months 1 week ago
An anonymous reader shares a report: The world should watch out for three possible bubbles in financial markets, including AI, the head of the World Economic Forum said on Wednesday, in comments that came amid sharp falls in global technology stocks. Brokers and analysts say the falls are a cause for caution but not panic as markets have been touching record highs and some valuations are looking overblown. "We could possibly see bubbles moving forward. One is a crypto bubble, second an AI bubble, and the third would be a debt bubble," WEF president Borge Brende told reporters during a visit to Brazil's financial hub, Sao Paolo.

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Europe's Self-Driving Cars Aren't Even at the Starting Line

3 months 1 week ago
Europe's self-driving car industry has fallen far behind the United States and China. Self-driving taxis developed by Tesla and Waymo have become commonplace in several American cities. Waymo overtook Lyft's market share in San Francisco in June. China operates a thriving robotaxi industry led by Baidu, WeRide and Pony AI. Europe has no established player and runs pilot projects in only a handful of cities. The most promising is Volkswagen-backed Moia in Germany. Markus Villig, chief executive of Estonian ride-hailing company Bolt Technology, told Brussels officials in mid-October that Europeans will move about their cities in American robotaxis by 2030 unless the European Commission acts quickly. He called for investment, regulatory clarity and restrictions on foreign competitors. Traffic laws governing self-driving tests vary at national and city levels across Europe. Commission President Ursula von der Leyen delivered a speech in Turin about AI adoption days before Villig's visit. Last week, Henna Virkkunen, the commission's technology chief, gathered carmakers and technologists to create a harmonized framework for self-driving cars. Waymo announced plans to provide driverless rides in the United Kingdom starting in 2026.

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