Cybersecurity: why you’re right to be cautious May 13, 2019 By Ian Hall (City AM, for the CFA Institute) The threat of cybersecurity and data-privacy attacks is under-estimated and growing, and organisations and individuals should proceed with extreme care in respect of digital information security, according to a Switzerland-based expert. David Basin, Professor of Computer Science at ETH Zurich, used a seminar at the 72nd [...]
Outernet teams up with Technicolor to create new London media landmark May 13, 2019 Entertainment venue firm Outernet Global has teamed up with French giant Technicolor to create a new immersive advertising and live entertainment space in London. The firms have agreed a partnership as part of a multi-billion-pound project to create a new media hub offering a unique broadcasting environment in the West End. Read more: UK digital advertising [...]
DEBATE: Is the term ‘fintech’ becoming redundant? May 13, 2019 Is the term ‘fintech’ becoming redundant? Rhys Powell, UK managing director at EBO.ai, says YES. It’s true that the fintech revolution has brought about positive business change, but to stay relevant in today’s modern business world, all financial organisations have had to harness the power of technology. As such, it’s now almost impossible to define where general [...]
It’s not cutting-edge AI we should feel anxious about, but mediocre automation May 8, 2019 If there were a betting market in future winners of the Nobel prize in economics, MIT’s Daniel Acemoglu would be at pretty short odds. His highly innovative work has already won him a string of prizes. So his research is always worth following – especially when he challenges the conventional wisdom, as in his paper [...]
Small businesses to be given artificial intelligence boost May 7, 2019 London may be the artificial intelligence (AI) capital of Europe, but City Hall believes the benefits of AI are failing to trickle down to small businesses. The mayor Sadiq Khan will give 200 small businesses in London a share of £200,000 to enhance their use of AI. “London is a leading hub for innovation in [...]
Softbank mulls float for $100bn Vision Fund as it looks for fresh cash injection May 3, 2019 Japanese investment giant Softbank is reportedly considering an initial public offering (IPO) of its $100bn (£77bn) Vision Fund. The firm is mulling the bumper float as part of series of options as it looks to raise more funds for its investment arm, the Wall Street Journal reported, citing people familiar with the matter. Read more: Softbank [...]
AI-powered fintech chatbot Plum closes $4.5m funding round May 2, 2019 Money management chatbot Plum has raised a fresh $4.5m (£3.45m) in funding to bring it to a total raise of $6.3m, it confirmed today. Read more: Former HSBC trader's fintech startup raises £3.8m from the crowd VC outfit Venture Friends, along with the European Bank for Reconstruction and Development (EBRD), led the funding round for [...]
Neil Woodford’s billion-dollar baby turns four May 1, 2019 By Dzmitry Lipski from interactive investor. Late last month, Woodford Patient Capital turned four. Having weighed in at launch at £800 million, making it the second-largest UK investment trust launch ever after Smithson Investment Trust, according to the AIC, Woodford's middle child has had some high-profile teething issues along the way. Total assets today stand at [...]
Our healthcare system is trapped in an impasse as pharmaceutical firms struggle to fund medical innovations May 1, 2019 The price of technological innovations in health care has once again been brought into focus. Orkambi, a new pharmaceutical treatment for a specific type of cystic fibrosis has not been approved for availability on the NHS because its price is deemed too high. Meanwhile, there is panic at the relentless rise of fatal antibiotic-resistant infections [...]
City Moves for 1 May – Who’s switching jobs at Mirriad, Discoverie Group and SCS Group? May 1, 2019 Today's City Moves includes Mirriad, Discoverie Group and SCS Group. Mirriad Mirriad, the computer vision and AI platform company, has announced abBoard change as Stephan Beringer, chief executive officer, continues his strategic refocusing of the business. John Pearson is appointed to the role of non-executive chairman, with effect from 30 April. He was previously appointed [...]