Breaking news

European Parliament Restricts AI Tools Over Data Security Concerns

The European Parliament has decisively disabled built-in artificial intelligence features on lawmakers’ official devices to mitigate cybersecurity vulnerabilities and protect sensitive communications. This move underscores a cautious approach to data management in an era where digital privacy is paramount.

Cybersecurity Concerns Drive Policy Change

According to internal parliamentary communication, the IT division stated it cannot fully guarantee the secure handling of confidential information when systems interact with external AI servers. Limited visibility into how data may be shared or stored created significant uncertainty, leading officials to deactivate these features on official devices.

Data Privacy And Chatbot Implications

AI tools such as Anthropic’s Claude, Microsoft’s Copilot and OpenAI’s ChatGPT often rely on user-provided data to improve performance and train algorithms. This structure raises the possibility that sensitive or proprietary information could be exposed beyond intended recipients. Lawmakers’ decision mirrors broader institutional concerns about confidentiality and reflects ongoing discussions around cross-border data protection and digital security standards.

Addressing Dependencies On U.S. Technology

The move also comes amid a broader European Union debate over reliance on U.S. technology providers. Some policymakers have argued that recent European Commission proposals to relax certain data protection requirements for AI model training could disproportionately benefit large U.S. technology companies, adding complexity to already sensitive transatlantic technology relations.

The Future Of Data Governance

Recent actions, such as the issuance of hundreds of subpoenas by the U.S. Department of Homeland Security targeting companies such as Google, Meta, and Reddit, have further intensified scrutiny over data governance practices. These measures highlight the urgent need for robust international frameworks that reconcile national security imperatives with stringent data privacy standards.

Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

Uol
The Future Forbes Realty Global Properties
eCredo
Aretilaw firm

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter