Plus: Apple launches Apple Pay in India. And American Express introduces a corporate cashback card and an AI-driven expense-management platform. Julie Chang hosts.
A quick update: We're on a new schedule! Starting tomorrow, we’ll be bringing you a single, in-depth interview about what's happening in tech, every weekday morning.
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[00:00:01] Here's your afternoon TNB Tech Minute for Wednesday, September 30. I'm Julie Cheng for The Wall Street Journal. The Federal Trade Commission has opened an investigation into Anthropic and OpenAI to determine whether they deceived consumers about the potential harms of their AI. A senior FTC official said the probe was sparked by concerns from researchers that AI could wipe out humanity, and the agency plans to issue civil subpoenas soon.
[00:00:29] Anthropic and OpenAI didn't immediately respond to requests for comment. The probe comes as the Trump administration faces pressure to regulate AI developers, though President Trump has generally favored light-touch regulation. News Corp, owner of The Wall Street Journal, has a content licensing partnership with OpenAI. Apple has launched its mobile payment services in India.
[00:00:53] Users there can now use Apple Pay on iPhones, iPads, and Apple Watches via partnership with Access Bank, one of the largest private sector lenders in the country. The move positions the tech giant to tap the millions of consumers in India that are increasingly using non-cash payments.
[00:01:10] According to the India Brand Equity Foundation, the South Asian economy's consumer market is set to grow by 46% by 2030, driven by rising incomes, a young workforce, and rapid urbanization. Finally, American Express is introducing a corporate cashback card alongside an AI-driven expense management platform.
[00:01:33] The latter features a dedicated mobile app that automates spending reports, checks expenses against company policies, and flags non-compliant purchases. The platform is geared toward middle market businesses with annual revenues between $10 and $300 million. Amex's launch comes as the company faces mounting competition in its corporate business from fintechs like Ramp and Brex. And that's it for your TNV Tech Minutes!
[00:02:02] A quick update, we are on a new schedule. Starting tomorrow, we'll be bringing you a single, in-depth interview about what's happening in tech every weekday morning. As for these tech minutes, we're retiring them! Thank you for tuning in. Thank you for tuning in.