US regulator investigates ChatGPT maker over potential harm to consumers July 13, 2023 The US Federal Trade Commission has opened an investigation into OpenAI, the maker of ChatGPT, on claims it has run afoul of consumer protection laws by putting personal reputations and data at risk, according to an FTC demand for information sent to the company. The move marks the strongest regulatory threat to the Microsoft-backed startup [...]
Reasons to be positive about the Chancellor’s Mansion House Reforms July 13, 2023 Lord Holmes examines this week's Mansion House reforms where he welcomed significant potential, and reasons for optimism.
The Square Mile and Me: Paragon Bank CEO Nigel Terrington talks paper rounds, The Lamb and office faux pas July 13, 2023 We dig into the memory bank of the City’s great and good: this week, Nigel Terrington, chief executive of Paragon Bank, takes a stroll down memory lane. What was your first job? I was a paper boy, aged around 14, in Surrey. I had to get up ridiculously early and the biggest challenge was to [...]
Bitcoin and Ethereum seeing upward movement following unexpected dip after promising US inflation figures July 13, 2023 Bitcoin was down to $30,300 early this morning, but signs of a potential bounce are just starting to show around $30,500.
One Fifth Of UK Workers Are Using AI, Without Telling The Boss July 13, 2023 Generative AI developments are moving faster than most of us can keep up with. Recent data from the Office for National Statistics’ (ONS) Opinions and Lifestyle Survey (OPN) has found that public awareness of AI has increased over the past year, with 72% of adults now able to give at least a partial explanation of [...]
Law firms filed over 1,000 legal tech patents globally – but only 1 was filed in the UK July 13, 2023 Law firms around the world are increasingly investing in technology to remain competitive, new data shared with City A.M. reveals. Exactly 1,184 patent applications for legal services technology were filed globally in the year ending September 2022, according to data obtained by Thomson Reuters from the World Intellectual Property Organisation. China filed the most with [...]
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 [...]
Bitcoin mining – a catalyst for economic growth? July 12, 2023 Susie Violet Ward dispels some myths around Bitcoin mining, and argues how it can help the UK unlock opportunities for economic growth.
FCA chief: AI could disrupt financial services ‘at a scale not seen before’ July 12, 2023 The chief of the Financial Conduct Authority has said that artificial intelligence could disrupt the financial services sector in “ways and at a scale not seen before”, warning that the regulator would look to take action against AI-based scams.
Bitcoin and Ethereum continue to hold the line ahead of today’s CPI figures July 12, 2023 Bitcoin and most other cryptocurrencies continue to march steadily sideways with the market leader trading around $30,700.