Monzo and Wise founders back £8.8m Robin AI robot lawyer project February 27, 2023 A City computing company has raised $10.5m (£8.8m) from backers including top execs from Magic Circle law firm Clifford Chance to develop an artificial intelligence (AI) driven, robot lawyer. The founders of fintech firms Monzo and Wise have also thrown their weight behind London’s Robin AI, which is seeking to disrupt the legal sector with [...]
Neeva eyes future London growth as part of wider European expansion February 15, 2023 Neeva founder and former Google ads boss Sridhar Ramaswamy has endorsed London as a world class place for tech innovation as he rolls out his AI-powered startup across Europe. Speaking with City A.M., the former Silicon Valley exec turned search-engine startup founder said being in places like London is “top of mind” for Neeva as [...]
Legal tech revolution: Firms invest in cost saving AI tools like ChatGPT to improve profitability February 15, 2023 Law firms are continuing to invest in cost-saving technologies, including artificial intelligence driven tools like ChatGPT, in seeking to stave off falling profitability. A sharp drop in M&A deals has hit US law firms’ profitability, wiping out the majority of all gains they made during Covid, the research from Thomson Reuters shows. US law firms [...]
Reining in ChatGPT: AI tech titans must navigate a regulatory maze to thrive in the UK and beyond February 14, 2023 As ChatGPT continues to amaze, and Alphabet and others try to follow suit, Jess Jones explores some of the legal and regulatory challenges facing AI tech, and what they mean for the UK’s ambition to become a science superpower. “The genie is out of the bottle – and it’s hard to imagine how it goes [...]
City will be shaken up by AI – so we asked ChatGPT for an equities strategy February 1, 2023 Artificial intelligence and machine learning is set to transform trading over the next three years, a JP Morgan survey shows, as traders anticipate the potential for new technologies to shake up trading floors. Over half of traders surveyed in JP Morgan’s eTrading survey predicted that AI and machine learning will be the most influential technology [...]
How intelligent automation has become a mainstay of financial services, and what it means for private banking January 25, 2023 The increasing levels of automation in private banking reflects a need to move into the digital age, but it also brings with it challenges. City A.M. sat down with specialist Mark Bruce, chief executive of of Britannia Financial Group to find out how intelligent automation and artificial intelligence is impacting the sector. Mark, why don’t [...]
Microsoft considering £8bn investment in Chat GPT owner, says Semafor January 10, 2023 Microsoft is in talks to invest $10bn (£8.2bn) into ChatGPT-owner Open AI, according to reports by Semafor earlier today, citing people familiar with the matter. According to the report, Microsoft’s investment would take OpenAI’s valuation up to $29bn. The deal would initially be based on a revenue share, which will see Microsoft take 75 per [...]
Fears of cheating prompt Ofqual to ‘look into’ use of AI chatbot ChatGPT January 3, 2023 Ofqual admitted looking at providing guidance to teachers over student use of the controversial AI writing tool ChatGPT. The examination and qualification regulation body said it was responding to concerns that students were using the AI chatbot to write essays. Teachers who reviewed three ChatGPT answers on English language, English literature and history said that [...]
UK government takes pro-innovation approach to AI January 2, 2023 UK government’s push to bridge the AI skills gap comes with a focus on a risk based approach. As industry predictions indicate an AI boom in 2023, the UK government has stepped up to plug the skills gap in the sector. At the end of 2022, the government evaluated the Industry-funded Masters in AI (IMAI) [...]
Eyes peeled: Five technologies to watch next year December 27, 2022 The year of the Great Tech Sell-Off is coming to a close. But in this Digital Age, technology is only going to get more exciting, useful, and ethically questionable – so here’s five technologies to watch out for next year. SOLAR Solar power is becoming cheaper, more efficient and increasingly attractive for Brits looking to [...]