Truss suggests mini-budget may have paid off in the long-term July 12, 2023 Liz Truss appeared to suggest her mini-budget may have paid off long-term as her new taskforce warned the UK risks lagging behind other nations unless it tackles stagnation. Britain’s shortest-serving prime minister likened sluggish growth in recent years to a “boiling a frog situation” as she attended an event to launch the Growth Commission. Members [...]
Meet the AI ‘pioneers’ behind Britain’s biggest infrastructure projects July 4, 2023 Businesses can benefit from artificial intelligence (AI) regulation creating “trusted brands”, the man using the technology to power the restoration of parliament – among other major infrastructure projects – has said. Rishi Sunak’s calls to regulate AI can benefit the industry, nPlan founder Dev Amratia has said, by allowing startups to position themselves as “safe, [...]
Wimbledon: Cameron Norrie tipped to reach final by IBM AI Draw Analysis July 3, 2023 He made the semi-finals at Wimbledon last year but this year British No1 Cameron Norrie could go one better, according to AI analysis by IBM. Andy Murray could reach the second week in south-west London but Katie Boulter faces a difficult route to the latter stages, the tech giant says. Norrie begins his campaign at [...]
‘Lean in’ to artificial intelligence, education secretary urges firms June 29, 2023 Businesses need to “lean in” to the power of artificial intelligence (AI), education secretary Gillian Keegan has said. The education secretary told City A.M. indulging in fears about AI wiping out jobs and opportunities was unproductive. Asked whether she was concerned about the impact of the new technology such as ChatGPT and Bard altering or [...]
Uhoh: Oxford study shows AI really can pick funds better than humans June 29, 2023 An Oxford University study suggests that artificial intelligence and machine learning can pick private equity funds that deliver above-average returns
Salesforce warns need to train workers in AI has ‘never been more urgent’ June 29, 2023 Companies urgently need to train staff how to use artificial intelligence tools effectively and safely, Salesforce’s UK & Ireland chief told City A.M. Chief executive Zahra Bahrololoumi said the need for “highly skilled people” who can use trustworthy data sources and protect sensitive data has “never been more clear nor urgent”. The comments come as [...]
‘Get the companies under control!’: Microsoft president tells UK to get AI safety in order June 28, 2023 Microsoft president Brad Smith has reiterated that the UK needs to prioritise AI safety in its quest to become a global leader in new technologies. “Let’s get the companies under control”, Smith said, speaking at a packed Chatham House event on Wednesday afternoon, where he argued that a licensing regime is necessary on both a [...]
KPMG: Generative AI could spur £31bn increase in UK productivity June 27, 2023 The UK’s battered economy could get a much-needed £31bn boost from the widespread adoption of generative AI, a new KPMG report has found. According to the ‘Big Four’ firm, generative AI has the potential to increase UK productivity by 1.2 per cent, the equivalent of an extra output of £31bn a year in the UK [...]
AI can be ‘force for good’ but needs regulation, says Keir Starmer June 26, 2023 Artificial intelligence (AI) can be a “force for good”, Sir Keir Starmer has told a UK-India summit in Westminster. The Labour leader said the invention was an “incredible form of technology” being developed “at pace” – but that the UK needed to develop regulations to monitor its application. Speaking at the UK India week 2023 [...]
UK banks leading European counterparts in tech readiness, new research reveals June 21, 2023 UK banks are leading against European rivals in their preparation for new technologies but still have much further to go to secure global leadership, new research shows. A new study from IT and consultancy firm Accenture – shared exclusively with City A.M. – shows that around a third of UK bank board members have technology [...]