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‘Get the companies under control!’: Microsoft president tells UK to get AI safety in order June 28, 2023 Microsoft president Brad Smith has reiterated that the UK needs to prioritise AI safety in its quest to become a global leader in new technologies. “Let’s get the companies under control”, Smith said, speaking at a packed Chatham House event on Wednesday afternoon, where he argued that a licensing regime is necessary on both a [...]
PwC set to hand 25,000 junior staff a real-terms pay cut – despite FRC plea to give them more June 28, 2023 Big four firm PwC has reportedly told its junior auditors their pay is going to be frozen, amid concerns it will make the industry less attractive. According to reports in the FT, around 25,000 staff members are set to get lower pay rises, with the accountancy giant citing the challenging market conditions and pay rises’ [...]
London fintech Upp. pockets $10m as it eyes global expansion June 27, 2023 London-based fintech Upp. has secured $10m (£7.8m) in seed funding as its artificial intelligence and machine learning model wins over investors. The startup, which uses AI to automate online retail, has garnered support in a funding round spearheaded by Californian venture capital firm Bonfire Ventures. Mark Mullen, co-founder of Bonfire Ventures, said Upp. is “the [...]
AI can be ‘force for good’ but needs regulation, says Keir Starmer June 26, 2023 Artificial intelligence (AI) can be a “force for good”, Sir Keir Starmer has told a UK-India summit in Westminster. The Labour leader said the invention was an “incredible form of technology” being developed “at pace” – but that the UK needed to develop regulations to monitor its application. Speaking at the UK India week 2023 [...]
What we were able to change with the Financial Services and Markets Bill – part one June 26, 2023 In the first of a three part series, Lord Holmes of Richmond highlights improvements to the Financial Services and Markets Bill.
Why Abakar Saidov is backing the future of UK tech June 22, 2023 Tech entrepreneur Abakar Saidov tells Charlie Conchie why the UK is the place for him Billion-dollar artificial intelligence (AI) firm Beamery is not the Saidov brothers’ first business venture. When the pair left Russia in the mid-90s with their parents, they lied about their age to get a paper round before investing the profits in [...]
We can’t base artificial intelligence laws off of the risks we only imagine to be real June 21, 2023 We’ve heard endless calls to ‘do something’ on artificial intelligence, but politicians are still basing their thinking on the risks they assume to be real, not the ones we know about, writes James Boyd-Wallis. Last week, Rishi Sunak said he wants to balance safety and innovation to realise the potential of artificial intelligence. But to [...]
UK must balance innovation with safety to help firms adopt AI, tech bosses say June 19, 2023 The UK must not let safety concerns about the use of artificial intelligence (AI) fall by the wayside as it pushes for a pro-innovation model for regulating the technology, tech bosses have warned. Chancellor Jeremy Hunt has reportedly told ministers to speed up the adoption of AI across the private and public sector, including the [...]
There’s no time for us to dither on creating sensible rules for artificial intelligence tech June 19, 2023 From artificial intelligence to fintech, we must go further. Competition is fierce, so we need flexible but strong rules to ensure innovative companies can prosper in the UK in both fields, writes Nicholas Lyons
UK businesses face regulatory minefield as EU votes in new Artificial Intelligence Act June 18, 2023 UK businesses must brace themselves to adhere to new EU artificial intelligence (AI) standards if they plan to trade in the bloc, lawyers and industry experts have said. It comes as members of the European Parliament voted overwhelmingly last week to adopt the Artificial Intelligence Act, which aims to encourage “human-centric and trustworthy” AI. Tamara [...]