EU-US Data Pact Approved; Baichuan Releases LLM

In today's ExchangeWire news digest: the EU-US Data Privacy Framework is approved by the European Commission; Baichuan launches a new large language model; and Roku and Shopify partner to bring shoppable ads to TV.

EU-US data transfer agreement given go-ahead

The European Commission has approved a new agreement for the transfer of data between the European Union and the United States. The EU-US Data Privacy Framework has been formally approved by the Commission after the US was deemed to afford adequate protection for EU citizens’ data under the General Data Protection Regulation (GDPR).

The decision will allow transatlantic data exchanges to resume after the dissolution of the EU-US Privacy Shield in 2020. However, it is unlikely to resolve wider concerns regarding US security agencies’ potential to pry on EU citizens, with the European Data Protection Board noting that it is missing some protections. The European Parliament has voiced opposition to some of the data collection permitted under the deal, while privacy campaigner Max Schrems may challenge the Framework before the end of August. 

Baichuan launches large language AI model

Chinese search engine provider Baichuan Intelligence has unveiled a new large language model (LLM). The Baichuan-13B, which was revealed on Tuesday (11th July), is a next-generation AI system that aims to rival other offerings in the field, with founder Wang Xiaochuan having previously stated that “China needs its own OpenAI.”

The challenger model is built on the same Transformer infrastructure as OpenAI’s ChatGPT, and is trained using both Chinese and English data. Baichuan-13B is currently available for use among academics and approved developers.

Roku and Shopify partner on shoppable ads

Smart TV manufacturer Roku and e-commerce giant Shopify have joined forces to enable consumers to buy items through their TVs. The tie-up will allow viewers to use their remote controls to engage with a Roku Action Ad for a Shopify seller, and to then make purchases via Roku Pay.

The offering is reportedly in alpha testing, and is being trialled with three partner brands. The union marks an extension of the two firms’ partnership, with Roku having created a marketing app for Shopify sellers in 2021.

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Fact of the Day

Every four years – how frequently the European Commission will review the EU-US Data Privacy Framework (after an initial review within its first year of operation).

Source: Politico