AI that alters voice and imagery in political ads will require disclosure

Google will soon require that political ads using artificial intelligence be accompanied by a prominent disclosure if imagery or sounds have been synthetically altered.

AI-generated election ads on YouTube and other Google platforms that alter people or events must include a clear disclaimer located somewhere that users are likely to notice, the company said in an update this week to its political content policy.

The new rule starts in mid-November, just under a year before the U.S. presidential election. It will also affect campaign ads ahead of next year’s elections in India, South Africa, the European Union and other regions where Google already has a verification process for election advertisers.

Though fake images, videos or audio clips are not new to political advertising, generative AI tools are making it easier to do, and more realistic. Some presidential campaigns in the 2024 race — including that of Florida GOP Gov. Ron DeSantis — already are using the technology.

The Republican National Committee in April released an entirely AI-generated ad meant to show the future of the United States if President Joe Biden is reelected. It employed fake but realistic photos showing boarded-up storefronts, armored military patrols in the streets, and waves of immigrants creating panic.

Apple slides $200B on China iPhone curbs

Apple shares tumbled Thursday, on track to wipe out $200 billion of market value in just two days, as China plans to expand a ban on the use of iPhones to government-backed agencies and state companies.

Shares of the Cupertino-based company fell as much as 5.1%, bringing its two-day slump to 6.8%. Apple is the biggest component in major U.S. equity indexes, adding to a broader selloff sparked in part by a litany of woes in China.

The world’s second-biggest economy has been slumping amid a protracted crisis in its real estate market, threatening demand for everything from commodities to consumer electronics. The iPhone maker counts China as its biggest foreign market and global production base.

Adding to Apple’s troubles are rising U.S. Treasury yields as bonds sell off on worries the Federal Reserve will have to step up its fight against inflation as the U.S. economy remains resilient.

Former FTX exec pleads guilty to criminal charges

A former top executive at the failed FTX cryptocurrency exchange pleaded guilty Thursday to making tens of millions of dollars in illegal campaign contributions to U.S. politicians and engaging in a criminal conspiracy to operate an unlicensed money transfer business.

Ryan Salame, the former co-chief executive of FTX Digital Markets, is the fourth high-ranking official at the company or its affiliates to plead guilty to criminal charges.

Under a deal with prosecutors, he agreed to forfeit up to $1.55 billion in assets. He could also be called as a witness to testify at the trial of FTX founder Sam Bankman-Fried, who was arrested last year in the Bahamas and extradited to the U.S. to face charges that he committed a host of crimes while running the popular digital currency trading platform.

Salame, 30, entered his plea before a judge in Manhattan, admitting to the court that he illegally used millions of dollars from a hedge fund controlled by Bankman-Fried to make political contributions in 2020 and 2021 to both Democrats and Republicans.

The purpose of those donations, he said, was to fund political initiatives supported by Bankman-Fried, while concealing his role as the person orchestrating the campaign gifts.

Compiled from Associated Press and Bloomberg reports.