As we close the book on 2024, we welcome you to our Holiday Edition, where we unwrap the biggest stories that defined a whirlwind year in AI and cyber affairs—a celebration of relentless innovation, jaw-dropping rivalries, and high-stakes power plays that kept us captivated all year round.
Cisco faces fallout from a massive data leak exposing critical files, while China accuses the U.S. of cyber espionage amid rising tech tensions. AI governance sparks debate as Europe enforces strict rules, and ASIC sues HSBC for $23M scam failures. Global cyber affairs take center stage this week.
ASIC is suing HSBC Australia over $23M in scam losses, alleging systemic failures in fraud detection and delays in resolving complaints. Meanwhile, Singapore's proposed anti-scam law aims to freeze accounts of scam victims to prevent further losses, sparking debate on privacy and autonomy.
Global cyber affairs are in overdrive! Australia’s $50M social media crackdown, Nvidia’s $35B AI earnings, and claims of AI breaching parliamentary security highlight a whirlwind week. With 2025 looming, the pace of tech, trade, and policy shifts is only set to accelerate.
Welcome to the high-speed autobahn of global cyber affairs, where the headlines don’t just come fast—they come with a side of digital whiplash. In Australia, the government’s $50 million social media crackdown has tech giants scrambling, parents cheering, and teenagers lamenting their scrolling days might be numbered. Meanwhile, Labor MP Linda Burney’s claim of an AI breach in parliamentary security sounds like the start of a cyber-thriller, though officials were quick to deny any rogue robots in the halls of power. Add in Ticketek’s 24-hour outage due to a “heightened threat level,” and it’s clear even ticket sales aren’t safe from the digital drama.
On the global front, Nvidia is smashing records like it’s going out of style, pulling in $35 billion in Q3 earnings and cementing its role as the AI overlord of our age. Its Hopper and Blackwell chips are redefining what’s possible, while the company’s expansion into Southeast Asia shows no signs of slowing down. And just as we catch our breath, Donald Trump’s upcoming administration promises to shake up AI policy, with Elon Musk leading the charge into a deregulated digital frontier—or, as some might say, an Elon-led experiment in innovation chaos.
But don’t blink—2025 is already barreling toward us with news, events, and shifts that will reshape global trade and the social landscape. The pace is only accelerating from here, so buckle up and hold on tight.
Nvidia’s Q3 earnings report delivered a spectacular $35 billion in revenue, surpassing expectations by $2 billion and showcasing the company’s dominance in AI hardware and software. The data center segment led the charge with a 154% sales increase, reaching $26.3 billion, as demand for AI infrastructure soared. CEO Jensen Huang highlighted the success of the Hopper chips and the highly anticipated Blackwell chips, which are already ramping up production faster than expected. Despite conservative guidance for Q4, Nvidia’s trajectory remains clear, with analysts projecting a path to a $4 trillion market cap and continued leadership in the AI revolution. With a 195% year-to-date stock surge and a market cap of $3.6 trillion, Nvidia’s growth story is a green light for investors to join the AI wave into 2025.
Nvidia CEO Jensen Huang strengthened the company’s global footprint this week by pledging collaboration with Indonesian firms to advance AI technology. Speaking at Indonesia AI Day, Huang committed Nvidia’s expertise to benefit industrial and societal advancement, with President Prabowo Subianto emphasizing the immense potential of AI for Indonesia’s future. The Sahabat-AI initiative, led by Indosat Ooredoo Hutchison and PT GoTo Gojek Tokopedia, aims to create culturally nuanced AI systems with Nvidia’s GPUs and AI Enterprise software. This collaboration, alongside OpenAI CEO Sam Altman’s prior engagement with Indonesian policymakers, highlights the country’s growing role in the AI ecosystem. As Nvidia expands its influence in Southeast Asia, its stellar Wall Street performance and global partnerships position the company as a key player in AI innovation heading into 2025.
Australia is set to introduce sweeping legislation aimed at banning social media access for children under 16, imposing fines of up to $50 million on platforms that fail to comply with age verification rules. The reforms, spearheaded by Communications Minister Michelle Rowland, now include Snapchat after initial concerns it might be exempt.
Framed as a "Digital Duty of Care," the legislation seeks to shield young Australians from the growing mental health and safety risks of social media. However, doubts persist over the readiness of age assurance technologies and exemptions for messaging platforms like WhatsApp and Facebook Messenger, which could weaken the reform's impact.
While Prime Minister Anthony Albanese champions this move as long overdue, critics warn of implementation gaps and unintended consequences. Privacy concerns, the immaturity of age verification systems, and political hesitations from crossbenchers and the Greens threaten to delay progress.
With a 12-month lead time before enforcement, the government faces mounting pressure to deliver robust, enforceable reforms. Without clear mechanisms to close loopholes and ensure compliance, this initiative risks falling short of its promise to protect Australia’s youth from the harm of unchecked social media.
Source: Facebook. Linda Burney
Labor MP Linda Burney has sparked a heated debate by claiming that artificial intelligence (AI) technology has been used to breach Australia’s parliamentary security. Speaking during a public hearing on AI in the public sector, Burney stated,
“One of the issues for us as parliamentarians is security, and we know that in some cases when security has been breached… AI has been involved.”
The Department of Parliamentary Services, however, denied the claim, asserting it was unaware of any breaches involving AI in physical or cyber security. Burney’s office declined to comment further on the issue.
The inquiry highlighted the growing concern over AI's dual-use potential, with its ability to create sophisticated cyberattack tools like deepfakes and phishing schemes, as well as its use in strengthening cybersecurity. The Department of Parliamentary Services emphasised that AI has brought “positive benefits for efficiency and productivity” while noting the risks associated with its malicious use. These risks underscore the need for robust governance as AI continues to advance.
Australian law enforcement agencies have also recognized AI’s potential, advocating for legislative updates to allow the use of AI-driven tools such as facial recognition and data decryption. As Australia reviews its approach to AI governance, this debate underscores the urgency of addressing both the opportunities and threats posed by AI in critical national infrastructure.
Ticketek Australia’s website was offline for over 24 hours, initially attributed to a delayed update, but later confirmed to be due to a “heightened threat level.” The company issued a placeholder message apologizing for the inconvenience and warning of potential temporary disruptions, sparking frustration among event-goers eager to secure tickets.
By Tuesday morning, the site was restored, and Ticketek issued a statement thanking customers for their patience.
“Our systems were back online earlier this morning, and we apologise for any inconvenience,” a spokesperson announced via X.
The disruption highlights increasing cybersecurity concerns as companies navigate heightened risks to digital infrastructure.
Donald Trump’s Cabinet nominations signal a sharp pivot in AI policy, with critical decisions ahead on whether to dismantle Joe Biden’s AI initiatives. Duane Pozza, a former FTC official, described this moment as an “inflection point,” with Trump poised to either roll back Biden’s 2023 AI executive order or focus on boosting U.S. competitiveness. Key figures like Matt Gaetz, Trump’s controversial pick for attorney general, could play a significant role in AI oversight. If confirmed, Gaetz may target tech companies, including Trump’s adversaries in Silicon Valley, leveraging his authority over the Justice Department’s antitrust enforcement.
Trump’s administration is expected to adopt a more traditional antitrust approach while selectively targeting specific companies. Experts predict a departure from Biden-era priorities, such as the Neo-Brandeisian framework, which examines broader consumer harm. Instead, cases against tech giants like Google and Amazon may be resolved quickly to cut costs. Meanwhile, bipartisan backing for the CHIPS and Science Act suggests Trump will maintain restrictions on China’s access to AI chips, opting for deregulation and tax credits rather than additional spending. Hanna Dohmen of Georgetown University expects these measures to remain central to countering China’s technological rise.
Elon Musk’s influence adds an unpredictable element to Trump’s AI strategy. Tapped to lead the Department of Government Efficiency (DOGE), Musk’s track record as a critic of regulation and AI innovator positions him to shape policies in his favor. While Musk has voiced concerns about AI risks, his actions—such as suing to block deepfake laws—reveal a preference for industry-led innovation over government oversight. With inexperienced Cabinet picks like Lee Zeldin and Pete Hegseth overseeing AI-related agencies, Musk’s sway could tilt Trump’s AI agenda toward deregulation, raising concerns about unchecked corporate influence.
As we close the book on 2024, we welcome you to our Holiday Edition, where we unwrap the biggest stories that defined a whirlwind year in AI and cyber affairs—a celebration of relentless innovation, jaw-dropping rivalries, and high-stakes power plays that kept us captivated all year round.
ASIC is suing HSBC Australia over $23M in scam losses, alleging systemic failures in fraud detection and delays in resolving complaints. Meanwhile, Singapore's proposed anti-scam law aims to freeze accounts of scam victims to prevent further losses, sparking debate on privacy and autonomy.
The Pacific tech war intensifies as Trump's return to power amplifies U.S. export bans, targeting China’s AI progress. ByteDance, Nvidia's largest Chinese buyer, counters with bold strategies like crafting AI chips and expanding abroad. A fragmented 2025 looms, redefining tech and geopolitics.
Australia pushes tech giants to pay for local journalism with new laws as Meta faces a global outage, raising concerns over platform reliability. Meanwhile, Meta joins hyperscalers like Google and Amazon, exploring nuclear energy to power AI ambitions and unveils a $10B AI supercluster project.
