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Placy: Cyprus-Born AI Assistant Transforming Real Estate

In a significant development for the real estate industry, Placy, a Cyprus-born AI assistant, has been launched to revolutionise the sector. Conceived by industry veterans Sergey Osipov, Mike Vasiliev, and Alex Alexeev, Placy aims to simplify and enhance the real estate market with advanced AI capabilities. This innovative tool provides personalised, insightful guidance to real estate professionals, streamlining operations and improving efficiency.

The Genesis and Vision

Placy was developed with a deep understanding of the challenges faced by the real estate market. The creators envisioned an AI-powered solution that transcends traditional property portals, providing real-time, actionable insights. According to Vasiliev, “The time for property portals is over. The next decade is all about AI co-pilots.”

Functionality and Impact

Placy leverages AI to analyse property listings, state registries, and social media, delivering comprehensive information in multiple languages. This capability allows real estate agents to automate up to 50% of their tasks at a fraction of the cost. As Sotiris Komodromos, Placy’s Chief Commercial Officer, explains, “The objective is to automate 50% of the real estate agent’s tasks at 25% of the cost, safeguarding the profession while creating the instruments for the realtor of the future.”

Placy Pro, an advanced version of the assistant, supports agents by reducing their working hours through ongoing automation. This tool is designed to handle various aspects of real estate transactions, from understanding local regulations to identifying ideal properties for clients, making it an indispensable asset for modern real estate professionals.

Strategic Advantages and Future Prospects

Launching from Cyprus offers unique advantages, including an open market, an enthusiastic community, and high commission rates. Osipov’s extensive local market knowledge, gained over nine years in Cyprus, further enhances Placy’s potential for rapid adoption and success.

Placy’s introduction heralds a new era in real estate, where technology and human expertise converge to create a seamless, efficient experience for all stakeholders. As the industry evolves, AI assistants like Placy are poised to become integral to real estate operations, driving innovation and efficiency.

In summary, Placy represents a significant leap forward for the real estate industry, embodying the future of AI-driven solutions. Its creators are poised to lead this transformation, making Placy an essential tool for real estate professionals in Cyprus and beyond.

Apple Loses €13 Billion Tax Battle Against EU: A Landmark Decision for Big Tech

In a landmark ruling, the European Court of Justice has upheld the European Union’s demand for Apple to pay €13 billion in back taxes to Ireland, marking a significant defeat for the tech giant. This decision sets a major precedent for the regulation of Big Tech companies, as it reaffirms the EU’s commitment to curbing tax avoidance by multinational corporations operating within its borders.

The case, which dates back to 2016, centres around allegations that Apple received illegal state aid from Ireland through preferential tax arrangements. The European Commission argued that these agreements allowed Apple to avoid paying its fair share of taxes on profits generated in Europe, effectively granting the company an unfair competitive advantage. The Commission initially ordered Apple to repay €13 billion, a decision the company contested in court.

Apple’s defence has always hinged on the argument that it followed the tax laws as they were written and that the profits in question were largely attributable to its operations outside of Europe. Despite this, the EU maintained that Apple’s arrangement with Ireland constituted illegal state aid, as it allowed the company to channel significant revenue through the country while paying a fraction of the taxes it would have owed in other jurisdictions.

This ruling is seen as a watershed moment in the ongoing debate around tax fairness and the role of multinational corporations in the global economy. For the European Union, the outcome reaffirms its position as a global leader in the push for corporate tax transparency and accountability. By holding Apple accountable for its tax practices, the EU is sending a clear message to other tech giants, signalling that no company, regardless of its size or influence, is above the law.

The implications of this decision are likely to reverberate throughout the tech industry, with other major corporations potentially facing increased scrutiny over their tax arrangements. In recent years, there has been growing public and governmental pressure to ensure that Big Tech companies contribute their fair share to the economies in which they operate. This ruling could catalyze further regulatory action, both within the EU and globally.

For Apple, the financial impact of the ruling is significant, but perhaps more important is the reputational damage it may suffer. As one of the world’s most valuable companies, Apple has long been in the spotlight for its tax practices, and this decision is likely to reignite debates over corporate responsibility and the ethics of tax avoidance.

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