Google abused the dominant position of its Android operating system in India, using its "huge financial muscle" to illegally hurt competitors, the country's antitrust authority found in a report on its two-year probe seen by Reuters. Alphabet Inc's Google reduced "the ability and incentive of device manufacturers to develop and sell devices operating on alternative versions of Android," says the June report by the Competition Commission of India's (CCI) investigations unit. The U.S. tech giant told Reuters in a statement it looks forward to working with the CCI to "demonstrate how Android has led to more competition and innovation, not less."
Global brands from Mercedes and Amazon.com Inc (NASDAQ: AMZN) to IKEA and Walmart Inc (NYSE: WMT) are migrating to software from tech startups from banking and credit to insurance services at the cost of the traditional lenders, banks, and financial institutions, Reuters reports. The trend will worsen for the lenders by further pushing them away from the finance chain and data trove, the key to client preferences and behavior. Some upstarts have procured licenses for regulated services like lend
In a new interview, artificial intelligence expert Kai Fu-Lee attributed the rise of wealth inequality in part to the tech boom in recent decades, predicting that the trend will worsen in coming years with the continued emergence of AI.