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Supported By
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Good morning!
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In a world where technology changes faster than you can say ‘artificial intelligence’, we don't want you blowing the salaries you received yesterday. May isn't even done yet.
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Meanwhile, universities are scrambling to understand the impact of generative AI, while Adobe please doesn't want you to use them to make porn.
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If this newsletter was forwarded to you, click here to subscribe now.
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Below are the tech stories and news you need to know to start your day, carefully curated by Technext.
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Summary of the news
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- Global crypto hacking falls by 70% in the first quarter of 2023
- Nigerian businesses dominate the second edition of the FT-Statista 2023 annual ranking of Africa’s fastest-growing companies
- South African crypto companies will now need a license to operate
- TikTok is testing an AI chatbot called Tako
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Ecosystem
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- Global crypto hacking fell by 70% worldwide, according to a recent report from TRM Labs. The report states that $400 million was lost across nearly 40 cryptocurrency attacks in the first three months of 2023, but that figure is still down 70% from the same period in 2022. Technext reports.
- The revenue of the FinTech industry in the Middle East, North Africa and Pakistan (Menap) is set to surge to between $3.5 billion and $4.5 billion by 2025, up from $1.5 billion in 2022, amid strong economic growth and a robust banking sector. The National reports.
- Nigerian businesses dominate the second edition of the FT-Statista 2023 annual ranking of Africa’s fastest-growing companies. Six of the top 20 companies on the list are from Nigeria, with their operations ranging from financial services to real estate and retail.
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Enjoy the best rates and instant withdrawals to your local bank in easy steps. Click the link now to download the Yellow Card app and sign up.
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Policy
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- Crypto companies looking to operate in South Africa will need to apply for a license from the country’s Financial Sector Conduct Authority (FSCA) in the six months starting June 1.
- OpenAI CEO Sam Altman has warned that the company might pull its services from the European market in response to AI regulation being developed by the EU.
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Social Tech
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WhatsApp is preparing to launch usernames for its messaging service. WABetaInfo has spotted a WhatsApp username feature inside the latest beta Android app, allowing users to pick a unique username for their account. Hopefully this lets WhatsApp users share their username instead of a phone number, very much like Telegram.
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- TikTok is now testing its own AI chatbot, as well. Called “Tako,” the bot is in limited testing in select markets, where it will appear on the right-hand side of the TikTok interface, above the user’s profile and other buttons for likes, comments and bookmarks. When tapped, users can ask Tako various questions about the video using natural language queries or discover new content by asking for recommendations.
- Two months after announcing that it was beginning to test ads in search results, Instagram said it now allows for ads in search results via the Instagram Marketing API. These ads will show up in the feed that people can scroll through when they tap into a post from search results.
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Global News
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- A high court in Montenegro overrode a lower court’s previous decision that would have released Terraform Labs founder Do Kwon on bail. Bloomberg reports.
- Nvidia is nearing a $1 trillion market cap as it tracks towards an all-time share price high, off the back of an outsize earnings report that beat consensus estimates.
- Global investment in energy is slated to hit roughly $2.8 trillion in 2023, according to a new report from the International Energy Agency, with over $1.7 trillion of that set to go on clean energy technologies such as EVs, renewables and storage. CNBC reports.
- Florida Governor Ron DeSantis was set to announce his 2024 US presidential campaign on a Twitter Space with Elon Musk, but Twitter itself had other ideas.
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Latest in funding
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Airtel Data Centre provides space, power, cooling, and physical security for server, storage, and networking equipment for organizations. Organizations can house all active servers in Airtel’s purpose-built facility which offers redundant connections to the Internet, disaster avoidance, offsite data backup and business continuity.
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Other stories we are following
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