🌍 When machines land in the village
👋 Welcome! Today, we’re covering a range of topics from Meta’s new computer hands to AI aiding emerging economies . Get ready for a full spectrum of insights that will keep you informed and engaged!
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AI & TECH
Meta unveils wristband prototype – Meta has unveiled a new non‑invasive computer wristband that interprets hand gestures by reading neuromotor signals. Developed under the leadership of Thomas Reardon, this gesture‑sensing device aims to control computers with intuitive movements. The prototype marks a significant step toward seamless human‑computer interaction.
YouTube Shorts Adds AI Tools – YouTube Shorts is launching new generative AI features: a six‑second “image‑to‑video” tool (powered by Google’s Veo 2 model) that animates still photos, plus creative AI effects—like transforming doodles or making users appear to swim underwater—all rolling out next week in the US, Canada, Australia, and New Zealand
Trump Unleashes Aggressive AI Plan – Trump signs three executive orders launching a sweeping “AI Action Plan” aimed at boosting U.S. dominance in artificial intelligence. The directives fast‑track data center permits, loosen export and state‑level restrictions, and block “woke” bias in federal AI. Critics warn of environmental and oversight risks.
CAREER & WORK
Canadian boycotts slam U.S. – Canadian provinces and consumers have launched a broad boycott of U.S. products—especially spirits—following steep U.S. tariffs. Sales of American spirits tumbled over 66% in early spring, while overall liquor sales dropped nearly 13%. The shift is straining North American industries and threatening billions in U.S. trade revenue.
AI redefining talent strategy in Asia – Technology’s rapid advances are prompting businesses to rethink talent management—prioritizing skills and worker protections over traditional job security. About 10 % of new hires are being placed directly into emerging AI roles, signaling a major shift in workforce strategy across Asia.
Lamb Weston to slash 4 % of workforce – Global food‑processing firm Lamb Weston announced a 4 % global workforce reduction to bolster cost savings. The move aligns with a broader effort to achieve $250 million in annual savings by fiscal 2028 and has significantly boosted its stock.
ECONOMY & FINANCE
US home sales sink to 9 month low – Existing-home sales in the U.S. fell in June to their lowest level since September 2024. High mortgage rates, still above 7%, continue to deter buyers, especially first-timers. The data reflects ongoing affordability challenges and may complicate the Federal Reserve’s path forward on interest rates and inflation control.
Goldman & BNY launch money market tokens – Goldman Sachs and BNY Mellon introduced tokenized money-market funds, allowing real-time trading and settlement via blockchain. This innovation is part of Wall Street’s broader push into digital asset infrastructure, aiming to modernize traditional finance while competing with decentralized platforms and improving liquidity for institutional investors.
EU & Japan forge economic alliance –The EU and Japan signed a strategic pact to strengthen trade, supply chain resilience, and economic security. Amid rising global protectionism and China’s growing influence, both sides emphasized shared democratic values and a commitment to fair trade practices. The move marks deeper geopolitical and economic alignment.
VC & FUNDING
Gupshup unicorn status in question – Gupshup, the San Francisco‑headquartered conversational AI and messaging startup founded in India, has raised over $60 million in a mixed equity and debt round led by Globespan Capital and EvolutionX Debt Capital. The valuation wasn't disclosed, putting its unicorn status in limbo as it eyes growth across India, MEA, LatAm, and Africa.
Volca raises to power AI home services marketing – Volca, an AI‑powered marketing platform for home‑services businesses, raised $5.5 million in seed funding led by Pathlight Ventures, with support from MetaProp, GTMFund, Recall Capital and execs from Ramp, Gusto, Scale AI, Plaid, and more. Funds will fuel product development, customer support, and team growth.
BIG THINK
AI in Developing Countries: Progress Accelerator or Equity Risk?
AI is emerging as a potent tool for development in emerging economies—yet its deployment raises complex issues around fairness, governance, and autonomy.
In agriculture, countries are leveraging smart tools and drone networks to accelerate productivity. A deployed 5G‑enabled drone program in West African gold-mining regions now aids local operations—and similar initiatives are expanding to precision farming in remote fields. These technologies promise productivity gains and resource efficiency—but also introduce demands for infrastructure and local technical capacity.
In finance, mobile-data-based credit scoring systems have begun expanding access to loans for underserved populations. However, a study found these systems often embed gender bias: women receive fewer approvals and smaller loans despite better repayment histories—reflecting deeper socio-economic inequalities . Without careful design, AI-driven finance risks encoding existing inequities.
Trust in AI is notably higher in emerging economies, with roughly 60% of users expressing confidence, compared with 40% in developed countries. While this enthusiasm spurs adoption, it also increases vulnerability to unregulated or opaque systems.
Governance is advancing too. The African Union recently endorsed a continental AI strategy, emphasizing benefits, risk mitigation, and local capacity-building. But resource imbalances and policy divergence across regions may slow harmonized implementation.
Critics warn that without equitable access to compute infrastructure and regulatory know-how, low-income countries risk becoming mere data sources for Western or Chinese tech firms—reproducing global power dynamics. Capacity-building and localized AI policy frameworks are essential to ensure developing nations retain agency over critical systems.
Actionable Insights:
Prioritize Inclusive AI Governance: Governments and NGOs should co-develop fair AI systems—especially in finance and agriculture—ensuring active participation from women, smallholder farmers, and local communities.
Invest in Local Capacity & Infrastructure: Support regional data centers, skills training, and public–private partnerships so AI adds independent value rather than reinforcing digital dependency.
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THE NUMBER:
23.56 m
The men's shot put world record set by Ryan Crouser on May 27, 2023, at the Los Angeles Grand Prix.
WISDOM:
“It is our choices, Harry, that show what we truly are, far more than our abilities.”
— J.K. Rowling, Harry Potter and the Chamber of Secrets