Why Britain needs a minister for AI August 8, 2019 With the nation in a state of economic and political uncertainty, Britain’s newly appointed Prime Minister looks to technology to rejuvenate and refocus the country. He announces “a major national effort to bring advanced technology and new processes into industry”, launching the government’s first ministry of technology. Tech experts across the country rejoice as policymakers [...]
Public mistrust in AI ‘puts UK tech dominance at risk’ August 8, 2019 Public mistrust in artificial intelligence risks setting the UK back in the global tech race, according to a report published today. UK businesses must lead by example and take an ethical approach to the new technology if they are to secure consumer confidence, the Confederation of British Industry (CBI) warned. Read more: Google-owned AI firm [...]
Google-owned AI firm Deepmind suffers ballooning losses as debt mounts August 7, 2019 Deepmind, the artificial intelligence company owned by Google, has posted a huge increase in loss for the full year as its debt level reached more than £1bn. Read more: Google takes off as revenue tops expectations The London-headquartered company reported a loss of £470m in 2018, compared to £302m the previous year, according to its [...]
Phrasee reveals how artificial intelligence will change marketing August 5, 2019 We’re all aware that artificial intelligence (AI) is predicted to transform every sector of the economy, and marketing is no exception. Already, the industry is using this new technology to analyse data or give product recommendations to customers. Of course, as adoption of the technology increases, so too is anxiety over the future of jobs. [...]
Artificial intelligence could solve Britain’s productivity puzzle August 2, 2019 At a time of technological innovation and low unemployment, why is UK productivity close to 16 per cent behind other advanced economies in the world? Experts disagree on the causes of the UK’s “productivity puzzle” but they, the government, and technology companies like ours agree that artificial intelligence (AI) will form a crucial part of [...]
Two thirds of adults fear AI will take jobs August 2, 2019 The public is concerned about the impact of artificial intelligence on their jobs and personal data, while some fear the technology could ultimately be responsible for the end of humankind, a new survey has revealed. 67 per cent of UK adults worry that AI will result in machines taking peoples’ jobs, according to a study [...]
Neil Woodford fund breaches rules after Guernsey delistings July 31, 2019 Embattled fund manager Neil Woodford has breached fund restrictions after two of his major investments delisted from the Guernsey stock exchange. Woodford has been battling to reduce his Equity Income fund’s investment in illiquid securities after it was suspended following a spike in investor redemption requests. Read more: Neil Woodford’s flagship fund to stay frozen [...]
UK leads EU venture capital, but Brexit could threaten its dominance July 31, 2019 The UK is continuing to dominate European venture capital (VC) deals thanks to a rise in mega rounds but uncertainty over the movement of talent post-Brexit could hit the sector hard, a new report has cautioned. UK VCs totalled 63 per cent of Europe-wide deals during the first half of the year, driven by a [...]
Saudi Arabian wealth fund set to invest in digital health startup Babylon July 30, 2019 Saudi Arabia’s sovereign wealth fund is said to be in late-stage talks over an investment in British startup Babylon Health. The investment, which would come as part of a funding round worth hundreds of millions of dollars, could be announced later this week, the Financial Times reported, citing people with knowledge of the matter. Read [...]
Twitter shares rise on second quarter revenue boost July 26, 2019 Twitter has posted a strong rise in revenue for the second quarter as its user numbers jumped, pushing shares up more than 10 per cent. The social media firm reported an 18 per cent increase in revenue to $841m (£677m), while monetisable daily active users rose 14 per cent to 139m. Read more: Twitter buys [...]