AI application

 European Union officials worked into the late hours last week hammering out an agreement on world-leading rules meant to govern the use of artificial intelligence in the 27-nation bloc. The Artificial Intelligence Act is the latest set of regulations designed to govern technology in Europe destined to have global impact.Here's a closer look at the AI rules: WHAT IS THE AI ACT AND HOW DOES IT WORK? The AI Act takes a “risk-based approach" to products or services that use artificial intelligence and focuses on regulating…

Artificial intelligence is the buzziest of buzz words on Wall Street. Apart, that is, for the two firms that are seen to be at the cutting edge of the technology. While the likes of Nvidia Corp. and lesser-known AI plays have soared on the back of excitement over the potential boost to their business, Microsoft Corp. and Google parent Alphabet Inc. have underperformed this year. Their stock lethargy reflects both payback from AI investment that will likely be slower than for others, as well…