Well, folks, it’s been another fascinating week for the tech sector.
In keeping with a longstanding campaign promise, U.S. President Donald Trump isn’t backing down on his plans to levy tariffs against Canada and Mexico, no matter how much the U.S. economy craters. Companies, investors, and consumers are all bracing for impact as tariff-driven uncertainty casts dark clouds over the U.S. economy.
Meanwhile, Elon Musk’s antics on Capitol Hill continue to push Tesla (TSLA) stock down at a time when many leading tech stocks are already struggling. But that’s not his only problem right now. Let’s take a look at the most important tech stories from the past week.
Elon Musk is dealing with the fallout from a Cyberattack against X and a respected tech veteran taking over one of his rivals.
AI might be ripping you off. California is taking action
What’s Happening: AI’s ability to help companies rip consumers off has become one aspect of artificial intelligence (AI) that has come sharply into focus recently. According to a report from CalMatters, “AI can help businesses charge you more based on how it evaluates your personal history and desires.” However, multiple California lawmakers have introduced bills to combat this trend.
Related: Tesla stock declines could cost Elon Musk something important
Why it Matters: Many companies have found ways to harness the power of AI to charge unnecessarily high prices, setting different costs for different consumers. Companies such as Amazon (AMZN) , Uber (UBER) and Target (TGT) have been accused of employing these practices, leading to some consumers paying more than others.
What it Means: Recently, five California lawmakers introduced bills to stop companies from using AI to make predictions that can rip off consumers. If they are successful, other states may follow suit and implement more policies curbing AI use.
The robots are coming, largely thanks to Google
What’s Happening: On March 12, Google (GOOGL) announced the launch of Gemini Robotics. As the name suggests, it is an AI model designed for robotics based on Gemini 2.0, or rather, two new AI models. According to Google Deepmind, they “lay the foundation for a new generation of helpful robots.”
Why it Matters: These models can allow robots to perform new tasks that they previously couldn’t, some of which are in the physical realm.
A video shows a robotic arm responding to a human command, picking up a banana, and placing it in a clear container. It also responds to a changing environment, following a container as it is moved.
More tech news
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- Elon Musk gets more bad news as big tech icon takes over his rival
- As Tesla stock plunges, burning questions surround Elon Musk
What it Means: This significant step forward for robotic technology indicates that a future in which humans are assisted by robots is not so far away. Something long considered a science fiction trope isn’t coming to the real world; it’s already here. This is great news for Google and bad news for companies also working on building humanoids, such as Tesla (TSLA) .
Autonomous vehicles don’t understand traffic laws
What’s Happening: Self-driving cars have taken center stage over the past year, as companies like Waymo have established a presence in major cities. Another former science fiction trope has made it to the real world, but that doesn’t mean the technology isn’t working through some hurdles.
According to reports, autonomous Waymo vehicles have received almost 600 parking tickets in San Francisco, CA alone, netting the company $65,065 in fines.
Related: Two tech leaders engage in fierce chess match over hot AI startup
Why it Matters: Autonomous vehicles are often seen as the future of transportation. While General Motors (GM) stopped funding its self-driving arm last year, Tesla has doubled down on getting self-driving cars on the road. However, this development highlights the problems that this technology is still facing.
TechCrunch reports that these vehicles mostly follow traffic laws but don’t seem capable of parking legally. Although, let’s be honest, that’s not much different from some human drivers.
What it Means: A company with Waymo’s resources will likely find a way to address this, as it won’t want to keep paying these hefty fines. The speed at which self-driving technology is moving is exciting, but this should serve as a key reminder that the industry is still facing challenges and that we are still a long way from a driverless future.
Tech stock of the week: Palantir
Palantir Technologies (PLTR) has been in the spotlight over the past week, primarily for negative reasons. As shares have trended downward, some experts have wondered if the AI stock’s impressive bull run is over. However, options trader Bob Lang sees this negative price action as an opportunity to acquire PLTR on a dip.
“We recently added Palantir to the bullpen and then quickly put the name into the main lineup,” he states. “We targeted certain price levels prior as a way to gauge where investor interest would be located if the market should swoon.”
Related: Veteran fund manager unveils eye-popping S&P 500 forecast