Weekend's Update: Your Tech Reader's Digest

The three wise men are coming in a couple of days, and instead of gold, frankincense, and myrrh, they are bringing LLMs, AI Gurus, and Regulations in their bags.

The European Union aims to do it again; there is no doubt that Europe is leading by far in regulations and compliance dashboards, with an astonishing amount of regulations for tech companies, and 2025 will promise more of this.

According to Prathana Prakash from Fortune (you can read the full article here ), the new Brussels regulatory roadmap, which includes a new Digital Fairness Act and the AI Act, amongst others, would trouble the Union's relationships with the US.

What would happen remains to be seen, but you need not be an oracle to foresee the regulatory package that's been in the works since 2025.

Hungary Is taking a massive leap of faith in AI.

In recent months, Hungary has become a surprising innovation hub for central Europe. A newly developed startup culture has invited massive investments, driving Hungary to the top of European AI development.

This will definitely impact the Hungarian Economy and the region, just as Orban's government is allegedly facing a new package of sanctions from Brussels.

The AI revolution is led by a rapid increase in the startup ecosystem in Budapest, backed by a juicy boost package from the Hungarian Government, which combines a legal framework to accelerate research with tax incentives for AI startups.

We need to wait and see how this evolves. However, the AI Act proposed to be implemented this year will definitely be yet another element of discordance between Hungary and Brussels.

Germany in the Sky, without border controls

Yesterday, all major German airports faced long delays due to a failure in the system the BundesPolitzei uses to check passports and documents.

This affected all the border control counters in most German Airports, forcing the officers to perform the controls manually.

?There were reports of several hours of waiting in Hamburg, Hannover, Dusseldorf Koln Bonn, Frankfurt, and Munich Airports, while Dortmund and Karlsruhe directly cancelled all flights outside the Schengen area.

?According to a Bundespolitzei spokesperson, the problem only affected non-EU citizens since the automatic passport checkpoints were unaffected.

No root cause has been published for the incident until now, so we will probably discuss this again next week.

Revolut keeps growing

Revolut, a UK challenger in the e-banking market, has become the most valuable private tech company, hitting a 45 billion valuation after a secondary share sale.

?The company, founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, has surpassed all its competitors in terms of value, even though it is still facing a lot of controversy in terms of alleged involvement in push payment fraud and allegations of being lenient in its compliance with anti-money laundering regulations.

And these were the news for the week. We will be back next Saturday with the Weekend's Update, your Readers Digest in Cloud and Tech.