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Forbes
4 days ago
- Business
- Forbes
Massachusetts Bill Expands AI Rules For Hiring And Background Checks
Massachusetts SD 3007 reflects growing legislative interest in the regulation of artificial ... More intelligence in employment. The bill introduces compliance obligations and liability standards that may significantly affect how employers and service providers use technology to support hiring. Massachusetts is joining the growing list of states looking to regulate artificial intelligence in employment, but its latest proposal could reach further than most. State lawmakers have introduced Senate Docket 3007 (SD 3007), a bill that would impose new obligations on organizations using artificial intelligence or other automated tools to support decision-making in employment, housing, credit, education, and other critical areas. Titled An Act to Prevent Unlawful Algorithmic Discrimination, the bill aims to prevent automated systems from producing discriminatory outcomes, whether intentional or not. If enacted, the bill would add Chapter 151G to the state's General Laws and apply to any private or public organization operating within Massachusetts. The legislation would regulate the use of automated decision systems (ADS), broadly defined to include tools that use artificial intelligence or statistical models to make or inform decisions, recommendations, classifications, or categorizations. The bill's stated goal is to ensure that such systems do not result in discrimination against individuals based on race, gender, disability, or other protected characteristics, including combinations of characteristics. It does so by imposing a range of new audit, transparency, and accountability requirements on covered entities that use ADS in connection with 'fundamental opportunities,' a term that includes employment decisions such as hiring, pay, and termination. Key Requirements for Employers Using Automated Systems Under SD 3007, employers that use artificial intelligence or automated tools in employment-related decision-making would be subject to a detailed compliance framework. One of the central obligations is a recurring audit requirement. Covered entities would need to evaluate their automated systems at least every 90 days, with additional reviews required within 30 days of any substantial modification. These audits must assess whether the system results in discriminatory outcomes and, if so, whether appropriate steps have been taken to mitigate those effects. In addition to audit requirements, the bill would require employers to maintain thorough documentation about how each system was designed, the data used to train and evaluate it, and the outcomes of any completed audits. Employers would also be expected to publicly disclose summary information about the automated tools in use, including the sources of training data and the measures taken to manage known or foreseeable risks. Another key provision centers on transparency to candidates. Employers would be required to notify individuals when an automated decision system is being used in a way that may influence hiring or employment terms. Importantly, the bill grants candidates the right to opt out of automation in favor of a human review process. That opt-out mechanism must be no more burdensome than the automated pathway and may not result in any form of penalty. These requirements apply to any automated decision system used to determine eligibility for employment or to inform terms and conditions of employment, such as pay, promotion, or termination. Liability Provisions and Shared Responsibility SD 3007 introduces a strict liability framework for employers and service providers. Under the bill, a covered entity may be held liable for discriminatory outcomes regardless of whether the discrimination was intentional, whether the employer was aware of the issue, or whether the system complied with federal laws such as Title VII of the Civil Rights Act or the Fair Credit Reporting Act (FCRA). The bill also includes a provision for joint and several liability, meaning that employers and any service providers involved in the development or deployment of the automated system could be held jointly responsible for violations. This would apply even in cases where service providers had no direct control over how the tool was implemented in practice. Considerations for Background Screening Providers For the background screening industry, SD 3007 raises important considerations. Consumer reporting agencies (CRAs) provide factual, legally reportable information, such as criminal history, employment, or education verification, that employers may use as part of a broader decision-making process. These reports are not designed to render hiring decisions or recommendations but to present objective data that informs employer evaluations. Many CRAs have implemented automation to enhance process efficiency, improve consistency, and support compliance with disclosure and authorization requirements. These automated processes may include electronic data retrieval, standardization of report formatting, and system-driven notifications. While these tools streamline operations, they do not evaluate candidate suitability or drive employment outcomes. However, SD 3007 defines an 'automated decision system' as any system that makes or informs eligibility determinations. Depending on interpretation, this may encompass tools used in background screening, even if those tools do not directly influence hiring decisions. The bill does not currently distinguish between process automation, which facilitates the delivery of factual information, and decision automation, which actively determines outcomes. Under the proposed framework, a CRA could be required to conduct regular audits, disclose elements of its data sourcing and processing methods, and potentially provide human review options for systems that do not currently support decision-making functionality. Additionally, the inclusion of joint and several liability may extend legal responsibility to CRAs for how employers use screening reports, regardless of the CRA's level of involvement in the hiring process. Employers and vendors may wish to evaluate whether existing service agreements, product designs, and workflows would need to be adjusted to meet the bill's requirements if it is enacted. Operational Impacts for Employers Employers operating in Massachusetts, or those hiring Massachusetts-based candidates, would face a heightened compliance burden under SD 3007. In addition to regular audit and documentation requirements, employers would need to establish opt-out pathways, manage public disclosures, and coordinate with vendors to ensure compliance across multiple systems. Because the bill covers not only tools that make decisions but also those that inform them, employers may need to assess whether common technologies, such as applicant tracking systems with AI-driven filtering, fraud detection software, or automated adjudication tools, fall within the bill's scope. Organizations that operate in multiple jurisdictions may also face challenges developing consistent compliance strategies, especially if other states adopt differing standards for AI use in employment. Looking Ahead Massachusetts SD 3007 reflects growing legislative interest in the regulation of artificial intelligence in employment. While its core objective, preventing discriminatory outcomes in automated decision-making, is consistent with emerging national and international AI governance frameworks, the bill introduces compliance obligations and liability standards that may significantly affect how employers and service providers use technology to support hiring. Employers and background screening providers should closely monitor this legislation and begin evaluating whether current practices would align with the bill's requirements. In particular, companies may benefit from clarifying the distinction between tools that support hiring through automation and those that make or influence employment decisions directly. As artificial intelligence becomes more deeply embedded in employment practices, clear policy guidance, particularly around accountability and role-specific obligations, will remain essential to balancing fairness, innovation, and operational integrity.
Yahoo
11-07-2025
- Business
- Yahoo
Boqii Holding Limited Announces Effectiveness of Substitution Listing and 1-for-160 Reverse Split
SHANGHAI, July 11, 2025 /PRNewswire/ -- As Boqii Holding Limited ("Boqii" or the "Company") (NYSE American: BQ) previously announced, the Company ceased the listing of the American Depositary Shares (the "ADSs") representing its Class A ordinary shares of par value US$0.001 each on the NYSE American LLC ("AMEX") and listed its Class A ordinary shares of a par value of US$0.16 each on a post-reverse stock split basis for trading on AMEX in substitution for the ADSs (the "Substitution Listing"), effective on July 11, 2025 (the "Effective Date"). Immediately following the termination of the ADS Facility and on the Effective Date, the Company implemented a reverse stock split (the "Reverse Split"), pursuant to which every 160 Class A ordinary shares of a par value of US$0.001 each (the "Ordinary Shares") consolidated into one new ordinary share of a par value of US$0.16 each (each, a "New Ordinary Share"). As a result, on the Effective Date, each holder of the Company's Ordinary Shares received one (1) New Ordinary Share, with a par value of US$0.16 each, for every 160 existing Ordinary Shares previously held. Outstanding ADSs were automatically cancelled and exchanged for the corresponding number of New Ordinary Shares at a rate 15/16, or 0.9375 of a New Ordinary Share for each ADS cancelled (the "Mandatory Exchange"). All resulting fractional shares were rounded up to the nearest whole number of shares on the participant level. The New Ordinary Shares commenced trading on AMEX on a post- Reverse Split basis and after the Mandatory Exchange under the symbol "BQ" on July 11, 2025. The new CUSIP number for the New Ordinary Shares is G1311F119. About Boqii Holding Limited Boqii Holding Limited (NYSE American: BQ) is a leading pet-focused platform in China. It is the leading online destination for pet products and supplies in China with a broad selection of high-quality products including global leading brands, local emerging brands, and its own private label, Yoken, Mocare and D-cat, offered at competitive prices. Boqii's online sales platforms, including Boqii Mall and our flagship stores on third-party e-commerce platforms, provide customers with convenient access to a wide selection of high-quality pet products and an engaging and personalized shopping experience. Its Boqii Community provides an informative and interactive content platform for users to share their knowledge and love for pets. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission ("SEC"), in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Further information regarding such risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law. For investor inquiries, please contact:Boqii Holding LimitedInvestor RelationsTel: +86-21-6882-6051Email: ir@ View original content: SOURCE Boqii Holding Limited
Business Standard
09-07-2025
- Business
- Business Standard
Avirata and AFL Announce a Joint Venture 'AVIRATA AFL Connectivity Systems Limited' in India to Transform Data Centre Connectivity
NewsVoir Bengaluru (Karnataka) [India], July 9: Avirata Defence Systems (ADS) and AFL are pleased to announce the official launch of their joint venture in India, A2CS (AVIRATA AFL Connectivity Systems Limited), marking a significant milestone in their long-standing partnership. This strategic collaboration combines ADS's deep execution capabilities and localization expertise with AFL's global leadership in fiber optic connectivity and structured cabling technologies to address the fast-evolving needs of the data centre industry. Headquartered in Bangalore, the joint venture is focused on delivering high-performance, scalable, and sustainable connectivity infrastructure for hyperscalers, enterprise customers, and colocation providers. With an integrated manufacturing facility, engineering expertise, and a customer-centric delivery model, the JV is well-positioned to serve not only the Indian market but also support global customers and opportunities. "This partnership is a natural extension of the trust and synergies built over the years," said Tony Dunstan, President Australia & New Zealand, AFL. "India is a strategic market, and with this JV, we are well-positioned to address the surging demand for future-ready data centre infrastructure. We are confident that JV will provide excellent value proposition not only in India but also can be leveraged for global requirements." "The launch of this JV represents a bold step forward in our growth journey," said Chairman & Managing Director, ADS. "Together with AFL, we are not only expanding capacity - we are building a platform that integrates world-class technology with deep localization. ADS brings the ability to execute at scale, leveraging our experience in local manufacturing, supply chain agility, and regulatory alignment. This collaboration uniquely positions us to serve the growing needs of the Indian market and create meaningful impact for global customers and opportunities." The launch event, held at the A2CS' state-of-the-art facility in Bangalore, was attended by senior leadership from both companies, along with key customers, partners, and industry stakeholders. Avirata Defence Systems (ADS), a SASMOS company, is a leading provider of advanced engineering and manufacturing solutions for mission-critical systems across aerospace, defence, and industrial sectors. With a strong focus on innovation, localization, and global quality standards, ADS is committed to enabling world-class manufacturing capabilities from India to the world. AFL, a subsidiary of Fujikura Ltd. of Japan, is an international leader in providing end-to-end solutions in fiber optic products, engineering, and services for communications networks. Headquartered in Duncan, South Carolina (USA), AFL's solutions span across data centres, enterprise networks, electric utilities, OEMs, and more - delivering innovation that connects and empowers.
Fashion Value Chain
08-07-2025
- Business
- Fashion Value Chain
Avirata and AFL Announce a Joint Venture ‘AVIRATA AFL Connectivity Systems Limited' in India to Transform Data Centre Connectivity
Avirata Defence Systems (ADS) and AFL are pleased to announce the official launch of their joint venture in India, A2CS (AVIRATA AFL Connectivity Systems Limited), marking a significant milestone in their long-standing partnership. This strategic collaboration combines ADS's deep execution capabilities and localization expertise with AFL's global leadership in fiber optic connectivity and structured cabling technologies to address the fast-evolving needs of the data centre industry. AVIRATA AFL Connectivity Systems Limited JV signing Headquartered in Bangalore, the joint venture is focused on delivering high-performance, scalable, and sustainable connectivity infrastructure for hyperscalers, enterprise customers, and colocation providers. With an integrated manufacturing facility, engineering expertise, and a customer-centric delivery model, the JV is well-positioned to serve not only the Indian market but also support global customers and opportunities. 'This partnership is a natural extension of the trust and synergies built over the years,' said Tony Dunstan, President Australia & New Zealand, AFL. 'India is a strategic market, and with this JV, we are well-positioned to address the surging demand for future-ready data centre infrastructure. We are confident that JV will provide excellent value proposition not only in India but also can be leveraged for global requirements.' 'The launch of this JV represents a bold step forward in our growth journey,' said Chairman & Managing Director, ADS. 'Together with AFL, we are not only expanding capacity – we are building a platform that integrates world-class technology with deep localization. ADS brings the ability to execute at scale, leveraging our experience in local manufacturing, supply chain agility, and regulatory alignment. This collaboration uniquely positions us to serve the growing needs of the Indian market and create meaningful impact for global customers and opportunities.' The launch event, held at the A2CS' state-of-the-art facility in Bangalore, was attended by senior leadership from both companies, along with key customers, partners, and industry stakeholders. About Avirata Defence Systems (ADS) Avirata Defence Systems (ADS), a SASMOS company, is a leading provider of advanced engineering and manufacturing solutions for mission-critical systems across aerospace, defence, and industrial sectors. With a strong focus on innovation, localization, and global quality standards, ADS is committed to enabling world-class manufacturing capabilities from India to the world. About AFL AFL, a subsidiary of Fujikura Ltd. of Japan, is an international leader in providing end-to-end solutions in fiber optic products, engineering, and services for communications networks. Headquartered in Duncan, South Carolina (USA), AFL's solutions span across data centres, enterprise networks, electric utilities, OEMs, and more – delivering innovation that connects and empowers.
Yahoo
02-07-2025
- Automotive
- Yahoo
Polestar (PSNY) Drops on Lack of Positive Catalyst
Polestar Automotive Holding UK PLC (NASDAQ:PSNY) is one of the . Polestar Automotive fell by 3.6 percent on Monday to close at $1.07 apiece amid the lack of fresh catalyst to boost investing appetite. In recent news, Polestar Automotive Holding UK PLC (NASDAQ:PSNY) announced plans to raise $200 million in fresh funds through a private placement. In a statement, Polestar Automotive Holding UK PLC (NASDAQ:PSNY) said it sold more than 190 million Class A American Depositary Shares to PSD Investment at a price of $1.05 apiece. The company said proceeds from the transaction will be used for working capital requirements and general corporate purposes. A pristine electric vehicle parked in front of a modern Gothenburg skyline. Prior to the closing of the transaction, PSD Investment intends to convert 20 million of its Class B ADS shares into Class A ADS shares in order to keep the overall voting power of its Polestar shareholdings below 50 percent. While we acknowledge the potential of PSNY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. 登入存取你的投資組合
