technology

Trump calls Pelosi ‘incompetent’ for launching impeachment inquiry
White House official says Trump ‘is expected to sign’ short-term spending bill

President Donald Trump argues at December meeting about border security with Senate Minority Leader Chuck Schumer and House Minority Leader Nancy Pelosi as Vice President Mike Pence looks on in the Oval Office. (Mark Wilson/Getty Images)

Continuing their yearslong feud, President Donald Trump on Tuesday called Speaker Nancy Pelosi “incompetent” over House Democrats’ impeachment probe.

The president also lashed out at the media, saying their coverage of his unscheduled visit to Walter Reed National Military Medical Center on Saturday shows news outlets are “sick.” There also were indications from the president’s staff that he will not trigger another government shutdown later this week.

Christians turn to artificial intelligence to stop porn use
Evangelical groups increasingly relying on technology in budding ‘purity-industrial complex’

Michigan-based tech firm Covenant Eyes has developed an app that uses artificial intelligence to detect pornography on a user’s screen and alert "allies" about it.

Evangelical groups are turning to artificial intelligence and machine learning technologies to help their members fight addiction to online pornography in a budding industry that one scholar calls an emerging “purity-industrial complex.” 

As pornography has exploded beyond just websites to apps and social media platforms such as Instagram, Snapchat, Reddit, Tumblr and others, tech companies closely affiliated with church groups are capitalizing on the fears of devout Christians that “porn is the greatest threat to Christian purity and even the moral standard of the nation,” said Samuel Perry, an assistant professor of sociology at the University of Oklahoma and author of “Addicted to Lust.”

Banks see Fed payments proposal opening door to fintech rivals
Banking industry pushes for tight rules on companies moving into banking-like services

Prompted by the Federal Reserve’s plan to build an instant payment system, banks are pushing for tight rules on tech firms moving into banking-like services. (iStock)

A plan by the Federal Reserve to build its own network to transfer funds quickly has pitted technology firms seeking a foothold in the financial sector against banks that have traditionally dominated the payments business. 

Tech firms see the new payment system as an opportunity to get into the payments business, and banks, facing a new rival, are pushing for tight rules on companies moving into banking-like services, according to advocates on both sides of the issue.

Google looks past Project Maven to work anew with the Pentagon
Company’s 2018 withdrawal from drone video program sent shockwaves through national security world

A Google sign at its 2019 Developer Days conference in Shanghai, China. (Lyu Liang/VCG via Getty Images)

More than a year after pulling out of a contract with the Pentagon that relied on technologies based on artificial intelligence to sort through drone videos, Google says it is ready to work with the Defense Department on a wide variety of applications that don’t involve weapons.

Google’s decision to engage with the Pentagon on non-weapons-related technologies stems from the company’s artificial intelligence principles published last year, said Kent Walker, senior vice president for global affairs at Google.

Proposed foreign investment scrutiny adds to fintech deal risk
New rules would expand the types of transactions that come under CFIUS jurisdiction

New foreign investment rules proposed by the Treasury Department are compounding regulatory risks for mergers and acquisitions in the global fintech market. (Bill Clark/CQ Roll Call file photo)

New foreign investment rules proposed by the U.S. Treasury Department are compounding regulatory risks for mergers and acquisitions in the global financial technology market, analysts say.

The proposed rules, which are expected to be finalized and in force by early 2020, expand the types of transactions that come under the jurisdiction of the Committee on Foreign Investment in the United States, a Treasury-led interagency panel that probes national security issues in cross-border deals.

Fintech Beat explains how open banking is poised to revolutionize financial services
Open Banking 101, Ep. 28

Open banking is shaking up financial experiences for customers across the globe (iStock).

Open banking is set to shake up financial experiences for customers across the globe, enabling customers to allow third parties to access financial information needed to develop new apps and services. Fintech Beat sits down with the head of policy at Plaid, a unicorn fintech sitting in the middle of the revolution, to discuss the process of information sharing and how regulation shapes it.

Libra’s regulatory hurdles appear taller after House hearing
Still to be decided: How the cryptocurrency would be regulated

Libra, known as a stablecoin, would be backed by a basket of dollars, euros and other traditional currencies called the Libra Reserve. (iStock)

Facebook CEO Mark Zuckerberg provided only a few additional details about the company’s proposed cryptocurrency to a House Financial Services Committee on Oct. 23 that generally didn’t like what it heard. 

Zuckerberg said Facebook wouldn’t proceed with the proposed Libra until it had satisfied regulators’ concerns. That pledge and the harsh criticism from lawmakers on both sides the aisle appears to narrow, if not eliminate, the company’s path to approval, at least for a project as sweepingly ambitious as Libra is.

Transportation and data service providers battle for bandwidth
FCC chairman says it’s time to take ’fresh look’ at how frequencies are used

FCC Chairman Ajit Pai has talked about taking a “fresh look” at using radio frequencies for transportation safety purposes, but he hasn't put the change on the agency’s agenda yet. (Tom Williams/CQ Roll Call file photo)

Two big industries are fighting over radio frequencies that each could use to provide game-changing services.

On one side is the transportation industry, including auto and truck makers and their suppliers. The frequencies would allow smart vehicles of the near future to talk to each other to use roadways more efficiently and avoid collisions.

Fintech Beat and FRT team up to cover all things fintech in DC
Fintech Beat, Ep. 27

An attendee at Fintech Week 2019 asks a question during a panel. (Photo by CQ Roll Call)

America can’t afford to sit out the artificial intelligence race
Federal government must lead with purpose, smart policy and appropriate investment

Whether society and government enable or inhibit the artificial intelligence race, and the extent to which they do so, will be a critical question of the next decade, Chambliss, Samp and Phillips write. (iStock)

OPINION — Artificial intelligence is everywhere. If you shop online or occasionally speak to a voice assistant in the morning, you are already embracing the changes this technology has created. Many people are familiar with the advances of autonomous vehicles or facial recognition technology, and some may be curious, or even anxious, about how they will affect safety or privacy.

Make no mistake, AI is a transformative technology that is influencing our daily lives and will touch every sector of the global economy. Whether society and government enable or inhibit the AI race, and the extent to which they do so, will be a critical question of the next decade. Regardless of the answer, the technology will forge ahead. To sit out this race, add hurdles or not take it seriously, would not be a wise decision.