May has been a month of innovation and continued regulatory shifts in the tech sector. It can be difficult to keep up with the endless waves of change (Elon Musk’s continual indecision over purchasing Twitter spring to mind for anyone?), but the Firefly team always havs our finger on the pulse. Here’s our lowdown on what you might have missed.

Artificial intelligence reaches new heights

It’s no secret that supply chain issues and the candidate crisis have plagued businesses significantly recently. But what if AI innovation could offer the solution?

A growing number of startups are applying AI technology alongside established logistics firms to help businesses ease supply concerns.  In the recruitment arena, AI is becoming an increasingly effective tool for hiring strong candidates. Google has even gone as far to develop almost human-level intelligence. Increasing efficiencies is always beneficial; we will certainly be tracking these developments closely.

Dialling back the power of big tech

As the power of AI innovation grows, so do the legal restrictions within the technology sector. The UK Government is set to introduce new competition rules for large tech companies, paving the way for innovation among smaller businesses.

When it comes to user safety, the discussion on the Online Safety Bill continues. Campaigners argue the current provisions do not sufficiently address violence against women and girls, showing that greater protections are needed. We’re also seeing a crackdown on Big Tech’s data collection, with the global central bank calling for individuals to be given more control.

These moves highlight greater oversight is needed over the sector to ensure that everyone can engage with technology safely and freely.

As virtual reality thrives, cryptocurrencies take a nosedive

June has been a less than ideal month for the crypto world, as several stablecoins crashed in a historic market collapse. Though, if anyone fancies a trip to Gucci’s US-based stores, rest assured you can use bitcoin to complete your purchase there, so it’s not all doom and gloom.

Finally, let’s not forget about the ever-expanding possibilities of VR innovation. Everyone’s favourite music streaming service is now on board, and even the sunny seaside city of Portsmouth has recently launched a VR centre, so that we can all get our fix whilst on our summer holidays.

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