History shows AI will create more jobs than it destroys, Deutsche Bank analysts argue May 22, 2023 Analysts at Deutsche Bank have become the latest experts to argue that AI will create more jobs than it destroys. In a note examining the history of technological advancement, Deutsche Bank’s Henry Allen and Jim Reid investigate the historical response to technological breakthroughs. Looking at long-term unemployment data, the analysts point out that changes in [...]
The Notebook: Symphony CEO Brad Levy on getting clear on Whatsapp, Revolut’s regulatory woes and using AI May 22, 2023 The Notebook is a daily column where interesting people say interesting things. Today, CEO of Symphony Brad Levy writes ahead of Symphony Innovate conference on 23 May. Message received: Time for UK banks to get clear on Whatsapp In the last year, multiple banks in the US have paid a high price for staff use [...]
AI will have ‘bigger economic impact’ than Industrial Revolution, expert predicts May 14, 2023 Emerging AI technologies will have a bigger impact on the global economy than the Industrial Revolution, a leading expert has predicted. Emad Mostaque, the founder of Stability AI, the maker of a free AI-image generating tool Stable Diffusion, has suggested artificial intelligence (AI) will be bigger than Google and Facebook within a decade. Speaking on [...]
Supertool: S4’s Sorrell says AI ‘more effective than a 25-year-old media buyer’ May 11, 2023 S4’s chairman Sir Martin Sorrell is optimistic about the future of AI as his advertising agency embraces it to supercharge their productivity and reach. Sorrell said S4 had already seen an increase in viewing metrics because AI was helping employees speed up ad copywriting and aggregate data that makes it easier to hyper-personalise and target [...]
Pearson integration of AI appears to excite investors as share price rises May 9, 2023 Educational publisher Pearson is embedding AI across its products as the AI race heats up and the technology encroaches on the edtech sector. The London-based publisher said on Tuesday that projects to embed generative artificial intelligence (AI) technology — meaning tools which can create new content from large data sets — were already “well underway.” [...]
AI doing the work of over 200 people at Octopus, chief executive says May 8, 2023 Octopus Energy customers are more satisfied with AI bots answering their emails than humans, the energy provider’s chief executive revealed on Monday. Writing in the Times newspaper, the energy company’s chief executive, Greg Jackson, said the technology was doing the work of 250 people by answering customer emails and had received a 80 per cent [...]
UK antitrust agency probes AI market as calls for regulation grow louder May 4, 2023 The UK's competition regulator has launched a review into the advancement of artificial intelligence, it confirmed today, amid growing concerns over its unchecked power to potentially overhaul the jobs market and spread misinformation.
Getting a piece of the Pi: Google DeepMind and LinkedIn cofounders launch AI chatbot May 3, 2023 An artificial intelligence startup founded by the cofounders of LinkedIn and Google DeepMind has launched a new chatbot. The company, Inflection AI, said the chatbot, named Pi, uses AI technology developed in house to hold conversations with users, give feedback and work through “tricky decisions.” “We think of Pi as a digital companion on hand [...]
Pearson shares slump after ChatGPT hits rival US online education firm May 2, 2023 Shares in London-listed educational publisher Pearson fell today after US rival Chegg warned that ChatGPT was having a negative impact on its business. The California-based online learning platform said today that ChatGPT was starting to have a negative impact on the number of students using the platform, as it reported a seven per cent slump [...]
IBM could replace almost 8,000 jobs with AI, boss says as it expects hiring slowdown May 2, 2023 Artificial intelligence could replace 7,800 jobs at the technology giant, International Business Machines Corporation (IBM), according to its chief executive. Arvind Krishna told Bloomberg News on Monday that the company expected to pause hiring for non-customer facing roles, such as human resources. “I could easily see 30 per cent of that getting replaced by AI [...]