Tech

• Over 100 technology firms have joined OpenAI in a "collective action" initiative aimed at strengthening global cyber defenses against AI-driven threats. • OpenAI President and Co-Founder Greg Brockman warned that there is a "limited window" to act as AI-powered cyberattacks become increasingly sophisticated. • The partnership focuses on sharing intelligence and developing safeguards to prevent AI models from being weaponized by malicious actors.

• The Institute for Public Policy Research (IPPR) has warned that the dominance of Big Tech companies threatens the UK's ability to remain competitive in the global AI race. • The think tank criticized the Competition and Markets Authority (CMA) for failing to create an environment where smaller competitors can thrive against tech giants. • To address these gaps, the IPPR recommends that the UK government provide the CMA with an updated strategic steer to ensure more proactive and bold enforcement.

• Leading tech companies are calling for a collective defensive surge to combat the rise of AI-enabled hacking campaigns targeting organizations globally. • The urgency follows the deployment of large language models by rogue actors to supercharge cyberattacks and breach security systems. • In June, the "Five Eyes" intelligence alliance—comprising the U.S., Britain, Canada, Australia, and New Zealand—issued a rare joint warning that AI will fundamentally transform cybersecurity.

• Over 100 tech giants, including OpenAI, Google, Microsoft, Amazon Web Services, and Anthropic, have issued a joint public appeal warning of imminent AI-enabled hacking. • The letter specifically targets critical infrastructure sectors such as energy, healthcare, financial services, and water systems, urging them to bolster their digital defenses. • This warning matters because AI-powered cyber intrusions are becoming more sophisticated, potentially threatening the stability of essential public services.

• Over 130 leading tech companies, including Google, Microsoft, OpenAI, Anthropic, IBM, and Cisco, have signed a joint call to prioritize the strengthening of cyber defenses. • The coalition is warning of a significant surge in AI-driven cyberattacks, with a specific focus on the vulnerability of critical infrastructure. • This initiative matters as the rapid advancement of AI tools allows attackers to automate and scale sophisticated threats more efficiently than ever before.

• Asian stock markets showed mixed results on Friday, with South Korea's KOSPI falling as the recent technology rally cooled ahead of upcoming economic data. • While the Shanghai Shenzhen CSI 300 dipped 0.1%, Mainland Chinese markets are positioned for an overall weekly gain of over 1% driven by positive corporate earnings. • Other regional indices saw modest gains, including Australia's ASX 200 rising 0.5%, Hong Kong's Hang Seng adding 0.3%, and Singapore's Straits Times index increasing by 0.2%.

• The U.S. FDA has approved a supplemental Biologics License Application for Pfizer and BioNTech’s 2026-2027 COVID-19 vaccine formula. • The updated vaccine, COMIRNATY ® XFG, specifically targets the XFG variant to better align with currently circulating strains of the virus. • Approval is granted for adults aged 65 and older, as well as individuals aged 5 to 64 who have underlying conditions increasing their risk of severe illness.