FTSE 100 close: London index claws back losses ahead of US Federal Reserve interest rate decision May 3, 2023 London’s FTSE 100 regained ground this today after nursing sharp losses yesterday driven by fears over the global banking system flaring up again. The capital’s premier index jumped 0.2 per cent to 7,788.38 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.27 per [...]
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 [...]
Dyson pours £100m into new Bristol tech centre as part of £2.75bn investment plan May 3, 2023 Dyson is pouring £100 million into a new technology centre in the UK, in addition to a new site in the Philippines and factory in Singapore, as part of its £2.75bn five-year investment plan. Dyson, which makes vacuum cleaners, fans and hair appliances, said today the new Bristol centre would be home to hundreds of [...]
Bitcoin price pushes upwards as investors wait for latest rate hike decision May 3, 2023 Bitcoin is trading comfortably above $28k and closer to $29k this morning, while Ethereum (ETH) is trading in the green for $1,866.
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 [...]
Thomson Reuters reports higher sales as it sells stakes in businesses May 2, 2023 Thomson Reuters reported higher revenue growth than expected today as the company sold off stakes in other businesses. The news and information conglomerate reported revenue growth of four per cent, jumping to $1.7bn (£1.4bn), beating analyst estimates, the firm said in a quarterly update. The company also earned $2.3bn (£1.8bn) from the sell-off of 24.5 [...]
‘Godfather of AI’ quits Google over concerns with rapid advances in tech May 2, 2023 A British scientist dubbed the “Godfather of AI” has quit his role at Google due to concerns about the dangers of artificial intelligence (AI), such as its potentially ability to spread misinformation and overhaul the jobs market. Geoffrey Hinton — who joined Google a decade ago to build on what was then the foundation of [...]
Bitcoin slips below $28,000 as investors keep a wary eye on US inflation data May 2, 2023 Bitcoin is trading a shade under $28k this morning, down 2% from yesterday as it continues to slowly drift from the key level of $30k.
Artificial intelligence could save London from losing our competitive edge to the US May 2, 2023 The future is AI and if London wants to be a global leader, we need to strike the right balance of innovation and regulation here in the City, writes Chris Hayward
14 million jobs set to be lost to labour market churn by 2027 – with AI contributing May 1, 2023 Almost 14 million jobs will be lost globally within the next five years as a result of stunted economic growth, advancement in smart technology and the rising cost of living, according to new research from the World Economic Forum (WEF). 83 million jobs will be lost in the next five years, while 69 million jobs [...]