May 19, 2024

Innovation & Tech Today


Buyer’s guide: The Top 50 Most Innovative Products
photo via Saltwater Brewery

This Week’s Top 5 Tech Stories We’re Following- May Week 1

Lots has happened this past week in the tech world! With Saltwater Brewery edible 6-pack rings continuing to make a positive change going into summer 2024, TikTok suing the U.S. over the potential ban, and more, there’s much to catch up on. So, let’s get started! 

Edible 6-Pack Rings Continue Making Positive Change

The consequences of plastic six-pack rings on wildlife and the environment have been well-documented. Despite numerous packaging varieties over time, an innovative and eco-friendly substitute for the traditional six-pack ring continues to be successful.

At Saltwater Brewery in Delray Beach, Florida, are edible six-pack rings, introducing a fresh approach to sustainable beer packaging. Crafted entirely from barley and wheat ribbons leftover from the brewing process, these rings are not only 100 percent biodegradable but also safe for consumption by animals encountering discarded materials.

TikTok Sues the US Over Potential Ban

On May 7, TikTok and its Chinese parent tech company initiated legal action against recent American legislation aiming to prohibit the popular video-sharing app unless it undergoes acquisition by an approved buyer. They argue that the law unfairly targets TikTok and constitutes an unprecedented assault on freedom of expression.

In their lawsuit, ByteDance contends that the new law ambiguously portrays its ownership of TikTok as a national security risk, effectively sidestepping First Amendment protections despite lacking evidence of any such threat. Furthermore, ByteDance asserts that the law is unconstitutional, and proponents attempt to mask it as TikTok’s ownership regulation.

2024 Profit Update for Tower Semiconductor

On May 9, Tower Semiconductor, an Israeli contract chipmaker, exceeded quarterly profit and revenue expectations, indicating optimism for progress throughout 2024 despite diminished demand for industrial and automotive chips amid an economic slowdown. Tower, renowned for its analog chips utilized in automotive, medical sensors, and power management sectors, reported 46 cents per diluted share earnings, excluding exceptional items in the first quarter of 2024, in contrast to 55 cents in the same period last year.

Senator Schumer Presents AI Legislation Framework

On May 8, Senate Majority Leader Chuck Schumer announced plans to unveil a framework in the coming weeks to address both the risks and potential benefits of artificial intelligence (AI). This framework will serve as a foundation for developing incremental tech legislation.

Concerns from both the Biden administration and lawmakers regarding the potential impact of AI on elections and its influence on the American populace have prompted calls for tech regulation. However, progress in the polarized U.S. Congress has been limited. In contrast, Europe has taken the lead, with lawmakers actively drafting AI regulations.

Apple Plans to Power AI With Chips

According to Bloomberg News, Apple intends to roll out some of its forthcoming artificial intelligence features this year by leveraging data centers powered by its proprietary chips. The move comes as the tech giant aims to embed generative AI capabilities into its products. Per the report, the company is deploying its chips in cloud-computing servers capable of handling advanced AI functions that will be introduced to Apple devices.

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