AI failures put 86% of Singapore CEOs' jobs at risk

• US lawmakers are considering new restrictions to limit the adoption of Chinese-developed artificial intelligence models by American companies. • The House Committee on Homeland Security and the Select Committee on China launched a joint investigation in April to assess the risks of this tech integration.

• The UN AI for Good Commission held its inaugural meeting in Geneva, while the White House is preparing to release a new AI framework. • Meta announced 8,000 job cuts as Mark Zuckerberg admitted AI agent development stalled for four months; meanwhile, China will ban AI companions by July 15.

• China is currently reviewing new restrictions on overseas access to its artificial intelligence models while accelerating the development of domestic inference semiconductors. • This shift threatens the current strategy of international firms, particularly Korean companies, who have relied on utilizing inexpensive Chinese AI services.

• The Chinese government is reportedly considering restrictions on overseas access to advanced AI models developed by domestic tech giants like Alibaba and ByteDance. • This move treats frontier AI software as a critical national asset, echoing concerns from state media and cybersecurity expert Zhou Hongyi regarding the need for a domestic "Mythos."

• The $2 trillion global cryptocurrency market faces a growing security threat as quantum computing and AI breakthroughs accelerate the timeline for hackers to break current blockchain encryption. • In response to these risks, U.S. President Donald Trump recently issued executive orders aimed at strengthening the quantum capabilities of the United States.

• South Korea's digital industry revenue grew 9.3% year-on-year to reach 1,378 trillion won in 2024, fueled largely by the rapid adoption of artificial intelligence. • A government survey revealed that national digital maturity has increased to 75.4%, reflecting a broader systemic shift toward digitalization.

• The IMF reports that top AI hardware exporters, including South Korea, Taiwan, Malaysia, and Thailand, outperformed growth forecasts by an average of 4.4 percentage points in Q1. • South Korea saw significant success, with an annualized growth rate of 7.5%—over four times the 1.8% projection—as semiconductor exports offset high energy costs.

• Kaspersky reports that Malaysian businesses are facing increased cybersecurity risks driven by the adoption of AI tools, poor password management, and the prevalence of hybrid work models. • The report highlights that these vulnerabilities create critical gaps in workplace security, making organizations more susceptible to data breaches and cyberattacks.

• OpenAI will globally release its most advanced AI model, GPT-5.6, this Thursday following a limited preview for select partners. • The wide rollout follows the lifting of restrictions by the Trump administration, which had previously pressured the company to stagger the release.

• OpenAI announced on Tuesday that it will globally release its most powerful new models, named Luna, Sol, and Terra, this coming Thursday. • The release follows a several-week hold as the company worked to align with the U.S. Administration on a cyber Executive Order framework.

• New York is considering the New York Privacy Act, an ambitious legislative proposal aimed at aggressively cracking down on Big Tech's data practices. • If passed, the law would mandate that companies obtain explicit consumer consent before processing data and establish new rights for data access and deletion.