This week, we begin with an article on the new UK ITDA & Addendum that came into force as UK GDPR-complaint restricted transfer tool, replacing the EU Standard Contractual Clauses. Next is a piece about Apple’s expansion of services by entering into the open banking industry in the UK by acquiring Credit Kudos. Then, we have a story regarding issues in crop damage assessment & how the SAR data source developed by PlanetWatchers is helping in combating the issues. Following that, we have an analysis of virtual real estate & role of decentralised finance (DeFi) in cryptocurrency lending for the same. Next is an essay on how industries apart from tech-natives are harnessing the potential of their data using IoT. Lastly, we have an article on the role played by AI in identifying unsafe online content, issues faced in the process & recommendations for improvements.
New UK IDTA and Addendum Come Into Force
The new UK International Data Transfer Agreement (“IDTA”) and Addendum to the new 2021 EU Standard Contract Clauses (“New EU SCCs”) are now in force (as of the 21 March 2022), providing much needed certainty for UK organisations transferring personal data to service providers and group companies based outside of the UK/EEA.
Apple Moves Into Open Banking
Apple has stepped into Open Banking in the UK by acquiring Credit Kudos. This is one of the startups that uses transaction data and machine learning to create very accurate credit ratings. They use API access to bank accounts to collect real-time data and feed it into their systems to provide clients with affordability and risk assessment scores and are a good example of how Open Banking data will support better lending.
PlanetWatchers Analyzes Crop Damage Through Satellite Technology
Monitoring crop damage can be challenging. Taking into account changes in climate events, weather patterns, and land management to better assess and predict crop yield, isn’t so simple either. At the first gathering of the Earth Observation community in Israel, which took place at the Starburst Accelerator Offices on Sunday – an Israeli-owned hub exclusively devoted to investing in space tech startups – professionals, researchers, and other members of the industry discussed how these problems could be solved.
‘Simplifying Loans In The Metaverse But Without A Bank’: EasyFi COO
Owning a piece of land in the metaverse is an expensive affair. In recent times, we have seen individuals as well as corporations bid millions of dollars for a virtual piece of land, $2.4 million to be precise. In an interview with indianexpress.com, Anshul Dhir, COO of EasyFi talks about how digital lands in metaverse can be bought through loans but without the involvement of any bank.
How IoT Data Is Changing Legacy Industries – And The World Around Us
For years, we’ve accepted that every company is becoming a data company. It’s not just Google, Amazon and Apple that have data coming out of their ears. With sensors now embedded in pretty much every device and product — from cars and appliances to thermostats — even the most unassuming enterprises have access to data that grows exponentially. But creating data and using it effectively are two very different things.
How AI Is Creating A Safer Online World
From social media cyberbullying to assault in the metaverse, the Internet can be a dangerous place. Online content moderation is one of the most important ways companies can make their platforms safer for users. However, moderating content is no easy task. The volume of content online is staggering. Moderators must contend with everything from hate speech and terrorist propaganda to nudity and gore.