GOOG - Alphabet Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
1,486.00
+5.61 (+0.38%)
As of 3:31PM EST. Market open.
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Previous Close1,480.39
Open1,479.12
Bid1,484.42 x 1100
Ask1,484.96 x 1100
Day's Range1,471.20 - 1,491.68
52 Week Range1,025.00 - 1,491.68
Volume1,212,999
Avg. Volume1,348,222
Market Cap1.025T
Beta (5Y Monthly)1.02
PE Ratio (TTM)31.89
EPS (TTM)46.60
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est1,535.55
  • Google Cloud lands Lufthansa Group and Sabre as new customers
    TechCrunch

    Google Cloud lands Lufthansa Group and Sabre as new customers

    Google's strategy for bringing new customers to its cloud is to focus on the enterprise and specific verticals like healthcare, energy, financial service and retail, among others. It's healthcare efforts recently experienced a bit of a setback, with Epic now telling its customers that it is not moving forward with its plans to support Google Cloud, but in return, Google now got to announce two new customers in the travel business: Lufthansa Group, the world's largest airline group by revenue, and Sabre, a company that provides backend services to airlines, hotels and travel aggregators. For Sabre, Google Cloud is now the preferred cloud provider.

  • Apple has soared out of the value realm, but you may still be able to find success on this stock list
    MarketWatch

    Apple has soared out of the value realm, but you may still be able to find success on this stock list

    DEEP DIVE It’s happening again: The financial media is touting a potential shifting of investors to value stocks from the growth stocks that have propelled the extended bull market in the U.S. This last happened in September and October, though the value buzz ended up being short-lived.

  • The biggest question looming over tech: Is the cloud boom over?
    MarketWatch

    The biggest question looming over tech: Is the cloud boom over?

    More than 20 years after the first documented usage of the term “cloud computing,” the first cracks appeared in the spending patterns of big data center build-out by public cloud companies.

  • GM Cruise Will Showcase First Vehicle Built For Self Driving From The Ground Up
    Investor's Business Daily

    GM Cruise Will Showcase First Vehicle Built For Self Driving From The Ground Up

    GM Cruise will reportedly show off the first purpose-built self-driving vehicle at a San Francisco event. GM stock slipped.

  • Bloomberg

    SAP Says Companies Will See Spread of Activism From Stakeholders

    (Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.SAP SE’s co-chief executive officer said companies will continue to face activism not only from shareholders, but increasingly from employees and consumers.“This will continue to be something that CEOs will have to understand and balance across the different stakeholders,” Jennifer Morgan said in an interview with Bloomberg News’s Stephanie Flanders on Tuesday at Davos.The Walldorf, Germany-based company attracted the interest of activists at Elliott Management Corp., which revealed a 1.2 billion-euro ($1.3 billion) stake when SAP announced a change in strategy in April.Read More: SAP’s an Old Company With New TricksActivists have been broadening their scope of engagement with companies. Protesters have been pressing BlackRock Inc. to divest from fossil fuel companies and others that contribute to climate change, while employees at Google have protested over the conduct of executives.Morgan -- who became co-CEO in October alongside Christian Klein and is the first female chief executive of a DAX-listed company said -- said user experience is set to be the new battleground.“If a company is not competing on experience its a race to the bottom”, she said. “When you’re in a consumer-led economy like the United States, for example, the disruption that we see happening for traditional industries is happening in the experience gap”.Morgan used fitness company Peloton Interactive Inc. as a good example of tapping into someone else’s experience “gap” saying they provide not just a better service but a real experience that people will pay more for.To contact the reporter on this story: Sarah Syed in London at ssyed35@bloomberg.netTo contact the editor responsible for this story: Giles Turner at gturner35@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Benzinga

    Macron, Trump Agree To Hold Off Tit-For-Tat Tariffs

    The United States and France have agreed that neither country will impose punitive tariffs until the end of 2020. Macron called Trump on Sunday to find common ground on the issue of taxing tech giants like Alphabet Inc.'s (NASDAQ: GOOG)(NASDAQ: GOOGL) Google. “The two leaders agreed it is important to complete successful negotiations on the digital services tax, and they also discussed other bilateral issues,” a White House spokesperson said in a written statement.

  • Dow Jones Futures Fall As Asia Sells Off: Stock Market Rally Faces Next Test
    Investor's Business Daily

    Dow Jones Futures Fall As Asia Sells Off: Stock Market Rally Faces Next Test

    Futures fell as Asia markets sold off Tuesday: Earnings season is the next test for the hot stock market rally. Netflix and Texas Instruments earnings are due Tuesday night.

  • Is Salesforce Stock A Buy? Investors Mull Digital Transformation Amid Acquisitions
    Investor's Business Daily

    Is Salesforce Stock A Buy? Investors Mull Digital Transformation Amid Acquisitions

    CRM stock has lagged software group peers as investors digest a number of big industry acquisitions, such as Tableau. Could digital transformation growth drive a Salesforce stock rally?

  • The Next $1 Trillion Stock After Microsoft, Apple, Alphabet Is ...
    Investor's Business Daily

    The Next $1 Trillion Stock After Microsoft, Apple, Alphabet Is ...

    Three S&P; 500 stocks joined in the trillion-dollar club: Microsoft, Apple and now Alphabet. Analysts think they know which stock will be next.

  • Bloomberg

    Trump’s French Trade Truce Only Puts Off the Battle

    (Bloomberg Opinion) -- Who said Davos doesn’t make a difference? As world leaders, business executives and cheerleaders for the planet descended on the Swiss resort for the annual World Economic Forum, one diplomatic victory was being chalked up on the sidelines: A presidential truce between Donald Trump and Emmanuel Macron over France’s plan to tax tech companies, which the U.S. says discriminates against its national champions.After threats of retaliatory trade tariffs on both sides, Macron took to Twitter to declare a “great” discussion with Trump that would lead to a “good agreement” on de-escalation. Trump retweeted that assessment, responding in the affirmative with “excellent!” But it’s hard to see much worth celebrating yet.What this truce amounts to isn’t exactly clear, for one thing, and it’s certainly not being trumpeted in the way that Trump’s “beautiful monster” of a phase-one deal with China was last week. Avoiding an escalation of tariffs is obviously a good thing. But Trump has already leveled so many trade threats at France and the European Union — driven by hatred of the trade surpluses they run with the U.S. — that it’s hard to feel excited at the prospect of one less gun barrel. If Trump actually ends up retracting his specific threat to hit $2.4 billion of French products with tariffs, that still doesn’t automatically guarantee protection for Airbus aircraft or German cars.It’s also not clear what Macron has gifted Trump in order to get de-escalation onto the agenda. According to the Wall Street Journal, France may have simply offered to “pause” its tech tax until a worldwide solution is agreed upon by the Organization for Economic Co-operation and Development — where support from the U.S. is obviously crucial. That’s not as huge a climb down as it initially seems: Paris could feasibly suspend the collection of digital tax payments due in April without scrapping the principle or the structure of its tax, as my Bloomberg News colleagues write elsewhere. But it still looks like Trump’s threats have paid off on one level.If the original sin is that today’s tech giants — Google parent Alphabet Inc., Facebook Inc., Amazon.com Inc. — aren’t paying their fair share in tax, we seem to be veering a long way from absolution. Things would be different if Europe could set aside its differences and agree on the fundamental good that a digital tax across its 28 members (soon to be 27) would bring. Brussels estimates global tech firms pay an average tax rate of 9.5%, compared with 23.2% for bricks-and-mortar peers. But the EU is divided on the need to overhaul the data economy, with low-tax jurisdictions like Ireland and the Netherlands resisting a common levy on digital firms.The Trump administration has shown itself adept at exploiting these divisions. France’s move to go it alone with a digital tax was politically popular, but fiscally weak. It is only expected to bring in 500 million euros ($555 million) a year, a digital drop in the ocean of France’s approximately 80 billion-euro deficit. Despite being fundamentally righteous, it allowed Trump to poke the soft underbelly of European unity by training his tariff weapon on Paris — and confronted the Macron administration with the prospect of pain for key exporters. The U.S. trade deficit with France was $16.2 billion in 2018.The pressure is now on to get consensus among more than 135 countries in the OECD-led push for an agreement on how to tax digital profits. It’s a solution favored by the likes of Apple Inc.’s Tim Cook, which speaks to how companies prefer the predictability of global solutions over patchy national ones. But until such a solution is actually agreed, it will be hard to celebrate this latest Franco-American “truce.” It has allowed France and Europe to save face by avoiding the reality of a new trade confrontation with Trump as he fights for re-election. It has offered tech firms a way to save money. But it hasn’t really saved the world from the threat of more trade wars. Davos can’t achieve everything.To contact the author of this story: Lionel Laurent at llaurent2@bloomberg.netTo contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Lionel Laurent is a Bloomberg Opinion columnist covering Brussels. He previously worked at Reuters and Forbes.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Market Exclusive

    Market Morning: Biden v Facebook, Idahoans Splurge in Oregon, BoJo Threatens the Axe,

    Biden Can’t Abide Facebook Joe Biden is going after Facebook (NASDAQ:FB). He wants to get rid of a law that protects Facebook and other social media sites from liability for posts by its users. This would mean that Facebook could potentially be sued by anyone who claims that a post on Facebook caused or was […]The post Market Morning: Biden v Facebook, Idahoans Splurge in Oregon, BoJo Threatens the Axe, appeared first on Market Exclusive.

  • Macron, Trump May Have Tariff Truce in 2020 Digital Tax Spat
    Bloomberg

    Macron, Trump May Have Tariff Truce in 2020 Digital Tax Spat

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Presidents Emmanuel Macron and Donald Trump agreed to a truce in their dispute over digital taxes that will mean neither France nor the U.S. will impose punitive tariffs this year.Macron said on Monday he had a “great discussion” with Trump on the issue, without giving details.“We will work together on a good agreement to avoid tariff escalation,” he said on Twitter.“Excellent!” Trump said in a reply to Macron’s post, without providing additional information. Trump is en route to Davos, Switzerland, for the World Economic Forum.A White House readout of the call was notably more muted, saying only that the “two leaders agreed it is important to complete successful negotiations on the digital services tax” and “discussed other bilateral issues.” And neither a White House spokesman nor officials with the U.S. Trade Representative’s office would confirm that the U.S. president had called off his announced tariffs.Still, the possible respite may defuse transatlantic tensions that had been building between Washington and Brussels along another potential trade war front. Last week, Trump signed a cease-fire with China in phase one of a broader deal aimed at balancing trade between the world’s two largest economies.The European Union is an even bigger U.S. trading partner than China and supply chains between the two economies, particularly in automotive and financial services industries, are intertwined in ways that would make a tit-for-tat tariff dispute even more harmful to the world economy.Macron’s government still hopes to find a solution that fits within discussions at the Organization for Economic Cooperation and Development’s work on the issue, according to a French official who asked not to be identified in line with government rules.European finance ministers meeting in Brussels Tuesday will discuss progress of the OECD talks. While the OECD is still working on its proposal for taxing tech companies around the world, France pushed ahead with its own levy last year that hit U.S. internet giants like Google, Apple Inc. and Amazon.com Inc.“We now have an agreement between the two presidents to avoid any tariff escalation and avoid any trade war,” French Finance Minister Bruno Le Maire told reporters in Brussels before the meeting. “It’s remains a difficult negotiation -- with digital tax, the devil is in the details and we need to resolve the details.”Paris and Washington have discussed the possibility of France suspending the collection of the digital tax payments due in April as long as the U.S. refrains from imposing new tariffs, French officials said. But that wouldn’t constitute a withdrawal of the levy, they added. For its part, the French government denies its national tax is discriminatory and warned that the EU would retaliate if the U.S. imposed additional levies.The U.S. has said that the French tax discriminates against American technology companies, citing Section 301 of a 1974 American law that Trump has thus far reserved to justify tariffs against China. That opened the door to the U.S.’s threat to hit $2.4 billion of French goods with tariffs in retaliation.Among the French products targeted with duties of as much as 100% were luxury items like wine, cheese and makeup. One American wine merchant called it the biggest threat to the industry since Prohibition a century ago.For its part, the French government had warned that the EU would retaliate if the U.S. imposed additional tariffs.The dispute was another headache for European trade officials scrambling to expand their policy arsenal as the U.S. takes aim at a rules-based system for global trade that Trump argues is outdated and tilted against America. It also coincided with a change in leadership at the European Commission, the EU’s executive arm.EU trade commissioner Phil Hogan visited Washington last week for the first time in the job, partly to plead for talks rather than tariffs in disagreements like the French digital tax. At stake, he said, was transatlantic trade in goods and services valued at more than $3 billion a day.“Sounds like a fairly healthy relationship to me,” Hogan said Thursday in the U.S. capital. “So why put tariffs on these EU products to make them more expensive for your people?”The truce follows weeks of discussions between Treasury Secretary Steven Mnuchin and Le Maire, who were scheduled to meet Wednesday in Davos, Switzerland, the alpine resort town where government officials and business leaders gather during the winter to discuss whatever is ailing the global economy.The dispute has ramifications outside France as other countries try to come up with ways to generate revenue from the digital economy. Mnuchin told the Wall Street Journal that the U.K. and Italy will face American tariffs if they proceed with similar levies on foreign tech firms.U.S. and EU trade relations started to sour in 2018 when the Trump administration invoked national-security considerations to impose tariffs on steel and aluminum from Europe. As a U.S. military ally, the EU was infuriated and promptly retaliated with levies on iconic American brands such as Harley-Davidson Inc. motorcycles and Levi Strauss & Co. jeans.A subsequent U.S. threat to wreak significantly more economic damage by targeting the European auto industry with duties on the same security grounds led to a hastily agreed truce and a pledge by both sides to work toward reducing industrial tariffs across the board.Since then, the Trump administration has refused to start the tariff-cutting negotiations unless Europe includes agriculture in them. Also, it imposed levies on EU products in retaliation over government aid to Airbus SE that was deemed illegal by the World Trade Organization, and disabled the WTO’s appellate body,The EU, meanwhile, is pressing ahead with a plan for tariffs against the U.S. in a parallel WTO case over unlawful subsidies to Boeing Co.Trump, scheduled to speak Tuesday in Davos at the World Economic Forum’s annual meeting, on Sunday reiterated his frustration with Europe as a trading partner.“Europe has had tremendous barriers to us doing business with them. All those barriers are coming down. They have to come down,” he told a conference of farmers in Austin, Texas. “If they don’t come down, we’re going to have to do things that are very bad for them.”He added, “Europe was, in many ways, more difficult -- and is more difficult -- than China.”(Updates with possible French concession in the 11th paragraph)\--With assistance from Jonathan Stearns, Justin Sink and Chelsea Mes.To contact the reporters on this story: Ania Nussbaum in Paris at anianussbaum@bloomberg.net;William Horobin in Paris at whorobin@bloomberg.netTo contact the editors responsible for this story: Ben Sills at bsills@bloomberg.net, Brendan Murray, Wendy BenjaminsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Why Apple CEO Tim Cook Invested in a Shower Head
    Bloomberg

    Why Apple CEO Tim Cook Invested in a Shower Head

    (Bloomberg) -- Tim Cook rarely invests his time and money in products without the Apple Inc. logo. But when he tried a prototype shower head at his local gym about five years ago, he made an exception. Philip Winter, who helped create the Nebia shower head, recalls moving to San Francisco in 2014 to get his idea off the ground. The shower head sprays in a way that uses less water, but still keeps people warm. Crafted from materials including aluminum, the system looks like something Apple might design, if it made bathroom hardware. To develop the product, Winter persuaded gyms in Silicon Valley to run pilot tests. After installing the shower head early in the morning, he’d wait outside locker rooms to get feedback. That’s when he met Cook, who happened to use an early version at the gym in Palo Alto, California, where the Apple chief executive officer worked out most mornings.Cook was drawn to the environmental aspect, according to Winter, who asked the Apple boss if he’d be willing to make an investment.  Despite the first prototype being “crude,” the Apple CEO was excited about the product because there hadn’t been much recent innovation in the shower market. He also appreciated the design, Winter said. Cook backed Nebia Inc. about five years ago and contributed in later financing rounds, too. The startup has raised almost $8 million in total, according to Crunchbase. Winter wouldn’t disclose how much Cook invested, but said it was “significant.” The Nebia co-founder said Cook used his own money and stressed that the startup hasn’t received any formal help from Apple, which declined to comment. Still, Cook shared some of the knowledge he’s amassed leading the world’s largest technology company, advising Nebia on suppliers and pushing the startup to prioritize user experience, design and sustainability.“His emails are very long, well crafted and detailed,” Winter said.Cook also told Winter to look for other investors who believe in the product, rather than venture capitalists simply looking to make a quick return. Eric Schmidt, the former CEO of Google, is also a Nebia backer, through the Schmidt Family Foundation. Nebia unveiled a new version of its shower system on Tuesday that is smaller and cheaper. It will cost $199, down from $499 for the current version. Winter asked Cook about four potential partnerships while developing the new model. Cook wasn’t keen about the first three, but supported a deal with faucet maker Moen because of its reputation, Winter said. To contact the author of this story: Mark Gurman in Los Angeles at mgurman1@bloomberg.netTo contact the editor responsible for this story: Alistair Barr at abarr18@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Benzinga

    Huawei Partners With TomTom To Develop Google Maps Alternative

    Chinese telecom giant Huawei Technologies Co. Ltd. is collaborating with Dutch digital maps supplier TomTom NV  (OTC: TMOAF ) to make an alternative to Google Maps for its phones, according to Reuters ...

  • Here’s a smarter way to save money and energy in your home
    Quartz

    Here’s a smarter way to save money and energy in your home

    At CES 2020, Schneider Electric and Legrand unveiled smarter electrical panels, which allow users to track and manage energy consumption through voice-enabled apps.

  • TheStreet.com

    Uber Rises as It's Named Morgan Stanley's Top Internet Pick, Sells Uber Eats India

    Uber rises after being named Morgan Stanley's top U.S. internet stock pick for 2020. The company also announces the sale of Uber Eats in India.

  • Bloomberg

    The Davos Bubble Swallows Anyone Who Tries to Pop It

    (Bloomberg Opinion) -- “Davos is not one thing. There are many Davoses at Davos.” This haiku-like meditation on the annual Swiss junket — which is known for preaching the gospel of touchy-feely stakeholder capitalism against a backdrop of $43 hot dogs, $10,000 hotel rooms, and several hundred trips by private plane — could have come from any number of its rich, powerful and blissfully un-self-aware attendees.That it comes from a co-founder of the anti-capitalist movement Occupy Wall Street, Micah White, as part of a long explanation of why he is attending Davos this year, says a lot about why global capitalism’s biggest tent is still standing even in an age of populist anger. The Davos bubble is turning out to be quite good at swallowing those who would like to pop it — however justified their cynicism.Davos was, let’s face it, supposed to have been “canceled” by now. Last year’s event resembled one long guilt trip: Billionaires awkwardly batting away ideas like higher taxes for the rich; Sir David Attenborough telling an audience packed with private-jet users that “the Garden of Eden is no more;” and historian Rutger Bregman going viral with his description of Davos as a hypocritical talking shop. “Stop talking about philanthropy, and start talking about taxes,” he berated attendees.Well, this year, Davos is back — minus Bregman — and it’s more Davos-y than ever. The private jets are still flying in, only now they’re being asked to fill their tanks with “ Sustainable Aviation Fuel.” Davos organizer Klaus Schwab is still welcoming powerful CEOs, but has made sure to ask them to commit to a net-zero economy by 2050. The rooms will be painted with renewable sources like seaweed. The carpets will be made from end-of-life fishing nets and fluff. And lest anyone think the debates on offer have gotten more humble, there are 25 panels under the banner, “How To Save The Planet.”Davos isn’t just good at greenwashing the globalists. It’s also good at co-opting the populists. The junket has shrewdly realized that offering a stage to an anti-Davos crowd can work in its favor. Micah White, for one, is excited to dip his toe into “the most powerful gathering in the world.” He will be lecturing a money-and-politics crowd that he once wanted to smash apart on how to turn “protest into progress.” There will be other incongruities: Greta Thunberg will tread the same boards as Donald Trump; France’s Bruno Le Maire will promote a tax on tech firms in front of Google’s Sundar Pichai.It’s this veneer of exclusive neutrality that Davos clearly wants to promote as its value proposition, rather than just being a hyper-efficient version of LinkedIn. “We bring together people of influence, and we hope that they use their influence in a positive way,” Schwab told the New York Times. Or, in other words: Everyone who matters is here — even if they disagree, Davos wins in the end. Like an Alpine version of Soho House, Davos is a (not-for-profit) club that lives and dies by its guest list. White’s description of “many Davoses” includes secretive back-room meetings that don’t get filmed — a Davos within Davos, in other words.This seems intuitively strange in an era of political activism and social media, when boycotts seem to spring up out of nowhere and cause serious brand damage. Couldn’t Davos be simply replaced? Author Anand Giridharadas suggested that genuine do-gooders had no reason to be wandering into a billionaires’ tent. Instead, they could work through the United Nations to create a new global conference. “We could create a new body. We could have it rotate among certain countries,” he told Project Syndicate last year.It’s an interesting point — we could. But national versions of Davos, such as those promoted by France or Saudi Arabia, have failed at being either as neutral or as exclusive as the original. Maybe coming up with a new Davos isn’t as easy as it seems. Or maybe Davos is simply really good at protecting its brand. In 2018, the conference warned imitators that it would “use all means to protect the Davos brand against illicit appropriation.” It has preserved its image as a truly global stage, even as incidents such as a ban on Russian businessmen targeted by sanctions (later lifted) show how it’s not politics-free.White’s final warning to Davos critics is a well-aimed one: “Rejecting Davos is easy when one has not been invited to attend.” (This applies to yours truly.) Maybe the world’s most exclusive tent will only fall when it extends its membership to all-comers. Until then, expect the private jets to keep flying in — on sustainable fuel.(A division of Bloomberg LP, the parent company of Bloomberg News, runs its own event, the New Economy Forum, which has been held in Singapore and Beijing.)To contact the author of this story: Lionel Laurent at llaurent2@bloomberg.netTo contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Lionel Laurent is a Bloomberg Opinion columnist covering Brussels. He previously worked at Reuters and Forbes.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Investopedia

    Key Levels for Alphabet Stock in the First Half of 2020

    Alphabet stock keeps reaching new highs even though the internet content giant missed earnings estimates on Oct. 26.

  • Barrons.com

    The ‘Best Job in America’ Pays $105,000

    “Because of the stiff competition to recruit and retain this talent, more companies are investing in their employees’ experiences at work,” says Amanda Stansell, senior economic research analyst at Glassdoor.

  • Alphabet CEO backs temporary ban on facial-recognition, Microsoft disagrees
    Reuters

    Alphabet CEO backs temporary ban on facial-recognition, Microsoft disagrees

    The EU's proposal for a temporary ban on facial-recognition technology won backing from Alphabet Chief Executive Sundar Pichai on Monday but got a cool response from Microsoft President Brad Smith. While Pichai cited the possibility that the technology could be used for nefarious purposes as a reason for a moratorium, Smith said a ban was akin to using a meat cleaver instead of a scalpel to solve potential problems. "I think it is important that governments and regulations tackle it sooner rather than later and give a framework for it," Pichai told a conference in Brussels organised by think-tank Bruegel.

  • Financial Times

    Can we ever trust Google with our health data?

    Google hopes that one day it might be able to save your life. Google’s broader health mission was outlined at a conference in San Francisco earlier this month, where its top doctor set out to show why the company may be the most ambitious of the many trying to use technology to transform healthcare. “We have 10 companies with 1bn users and five with 5bn or some insane numbers,” said David Feinberg.

  • Artificial Intelligence ‘Needs to Be Regulated,’ Says Google CEO
    Bloomberg

    Artificial Intelligence ‘Needs to Be Regulated,’ Says Google CEO

    (Bloomberg) -- Alphabet Inc.’s chief executive officer urged the U.S. and European Union to coordinate regulatory approaches on artificial intelligence, calling their alignment “critical.”In a rare public speech in Brussels at an event hosted by European economic think tank Bruegel on Monday, Sundar Pichai, who is also CEO of Google, said “there is no question in my mind that artificial intelligence needs to be regulated,” but that “we don’t have to start from scratch” with entirely new rules in some cases.The comments come weeks before the EU is set to unveil its plans to legislate the technology, which could include new legally binding requirements for AI developers in “high-risk sectors,” such as healthcare and transport, according to an early draft obtained by Bloomberg. The new rules could require companies to be transparent about how they build their systems.While in Brussels, Pichai is also due to meet with Margrethe Vestager, the competition chief responsible for more than 8 billion euros ($8.9 billion) of antitrust fines levied against Google. In addition to competition, she now also oversees the bloc’s digital policies, including the plans to legislate AI.Alphabet has battled intense regulatory pressure in Europe for years. The search giant is challenging the EU’s multi-billion-dollar antitrust fines and has sought to fight off copyright and other forms of platform regulation emanating from Brussels in recent years.The Google chief cautiously welcomed plans for rules that take “a proportionate approach, balancing potential harms with social opportunities.”Facial recognition technology and so-called deep fakes-- or manipulated audio and video clips -- are two areas where AI could be used destructively, and companies have a responsibility “to get this right,” Pichai said. He said Google has released open datasets to help researchers build better tools to detect fakes and that it has chosen not to offer general-purpose facial recognition application programming interfaces.Pichai touted the company’s recent developments in AI, including a Google Health algorithm that can spot breast cancer more accurately than doctors and other research for accurately predicting the weather as well as advancements by its self-driving car unit, Waymo.The Google chief said existing rules like Europe’s privacy legislation GDPR and regulation for medical devices like AI-assisted heart monitors would serve as strong foundations for governing AI in some areas, but that for self-driving cars, governments would need to establish regulations.But Google has also come under intense criticism over how it handles users’ privacy with some of its AI projects. Google faces a U.S. federal inquiry after the Wall Street Journal in November reported how it collects the health-care data from millions of Americans to design new AI software. It’s also facing scrutiny over the methods it uses for training algorithms that run Google Assistant.To contact the reporter on this story: Natalia Drozdiak in Brussels at ndrozdiak1@bloomberg.netTo contact the editors responsible for this story: Giles Turner at gturner35@bloomberg.net, Amy ThomsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.