The ‘innovation economy’ and why AI won’t steal your job March 30, 2025 Historically, economic progress has been driven by seismic shifts in how we value things. From the agrarian economies that once sustained early civilisations, to the industrial revolutions that mechanised production – each era reshaped society’s priorities. In the late twentieth century, the rise of the ‘knowledge economy’, placed information and cognitive thinking at the heart [...]
Elon Musk sells X to his own xAI for £25.5bn in all-stock deal March 29, 2025 Elon Musk has sold social media site X to his own xAI artificial intelligence company in a $33bn (£25.5bn) all-stock deal, the billionaire announced. Both companies are privately held, which means they are not required to disclose their finances to the public. Mr Musk said in a post on X that the move will “unlock immense potential by blending [...]
Lloyds sends 200 senior staff to Cambridge University for AI bootcamp March 28, 2025 Lloyds Banking Group has set out plans to send over 200 senior employees on an 80-hour AI bootcamp at the University of Cambridge. The FTSE 100 lender has joined with education technology firm Cambridge Spark for a “bespoke six-month training programme” to enhance AI capabilities across its management. The first cohort of 30 Lloyds leaders [...]
Deutsche Bank bets £250m on UK fintech Abound March 27, 2025 Deutsche Bank announced on Thursday morning it had given a £250m backing to UK fintech Abound, boosting the firm’s lending capacity. The latest round of funding compounds existing support from Citi, Waterfall Asset Management and LuminArx – and takes the fintech’s total credit ceiling to £1.6bn. Abound said the additional capital would provide “firepower to [...]
ChatGPT will make you dumber – if you don’t learn how to use it March 27, 2025 ChatGPT will make you dumber - if you use it incorrectly. Lewis Z Liu outlines how to use the tech to make you more intelligent, not less.
Spring Statement 2025: Reeves bets big on AI and tech March 26, 2025 Chancellor Rachel Reeves delivered her first Spring Statement on Wednesday, setting out an economic plan that could have major implications for the UK’s tech sector as she pivots towards AI. With billions in government cuts, a fresh push for AI-driven efficiencies, and no new tax hikes, the statement signalled a shift towards automation as a [...]
Labour’s attempt to use AI to power budget cuts is damaging. Here’s why March 26, 2025 The UK government is beginning to introduce AI tools for deep research, framing the technology as a tool to reduce costs and improve efficiency. Bank of England governor Andrew Bailey announced on Tuesday that Rachel Reeves needs AI to ‘move the needle’ on economic growth. Yet, tying AI to Reeves’ budget cuts risks discouraging its [...]
UK tech eyes tax moves in Spring Statement March 25, 2025 The UK’s tech sector is awaiting Rachel Reeves’ Spring Statement, as businesses look for support from the government on AI investment, digitalised healthcare, and scam prevention. Industry heavyweights are urging the Chancellor to consider targeted tax incentives and upskilling initiatives. They have also called for stronger regulatory frameworks to support growth and innovation amid burgeoning [...]
Spring Statement won’t ‘alter basics’, Starmer insists, amid tax cuts reports March 24, 2025 The Spring Statement this week will not “alter the basics” of public spending plans, Sir Keir Starmer has insisted.
Banks turn to AI to lead fraud prevention efforts March 23, 2025 As Britain’s biggest banks scale up their technology, lenders are turning to AI to fight fraud, a new report has found. NTT Data’s ‘Banking Trends 2025’ report found over half of UK banks thought generative AI was key to fraud prevention. Lenders have been urged to up their consumer protection abilities after Chair of the [...]