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 [...]
Vestager: AI law on the way – but it might take a year April 30, 2023 The European Union is likely to reach a political agreement this year that will pave the way for the world’s first major artificial intelligence (AI) law, the bloc’s tech regulation chief Margrethe Vestager said on Sunday. This follows a preliminary deal reached on Thursday by members of the European Parliament to push through the draft of the [...]
Analysis: Big tech beats forecasts – but they’re not out of the woods yet April 28, 2023 Meta, Microsoft, and Google’s parent, Alphabet, Amazon all showed signs of resilience this week after a bruising period for the tech sector. After many US tech firms laid off thousands of staff in response to low growth and inflationary pressures, each of these leading tech giants reported quarterly revenues and profits that beat analyst estimates, [...]
Amazon share price tanks after software giant announces fall in cloud spend April 28, 2023 The brakes appeared to be coming on to Amazon’s cloud growth spending as the tech giant said it was looking to cut costs. The news overshadowed the company’s quarterly sales, and an announcement that its profits that topped expectations. Amazon’s value rose $125bn (£100bn) but remarks by its chief financial officer Brian Olsavsky, drove the [...]
Sunak’s challenge is to design flexible but firm rules for artificial intelligence April 28, 2023 ChatGPT has thrown artificial intelligence into the mainstream, and now it's Rishi Sunak's job to design rules which don't prevent its growth, but keep us safe.
WPP chief says use of AI in advertising is an ‘opportunity’ not a threat April 27, 2023 Contrary to some commentators’ fears, chief of WPP Mark Read has called artificial intelligence a “massive opportunity to optimise creative” work rather than representing a threat. Speaking to the Financial Times, Read revealed the advertising giant has already been using artificial intelligence and automation to “amplify” its creative work for some years. He added that [...]
Google parent Alphabet announces stock buyback after modest beat on ad sales April 26, 2023 Alphabet Inc said on Tuesday it would buy back $70bn (£56.3bn) in stock and posted first-quarter profit and revenue above estimates as demand rose for cloud services and ad sales held up better than expected. Investors cheered the buyback plan, sending shares of the Google parent as much as 4 per cent higher in after-hours trade before [...]
Microsoft: Shares jump eight per cent as AI helps software giant’s sales beat expectations April 26, 2023 Microsoft beat Wall Street’s estimates for quarterly revenue and profit on Tuesday, driven by growth in its cloud computing and Office productivity software businesses, and the company said artificial intelligence products were stimulating sales. The company forecast revenue in its main segments for the current quarter would match or top Wall Street targets. Shares gained 8.3 per cent in after-market [...]
Time moves fast in AI years, and Britain is nowhere near ready April 25, 2023 The latest version of ChatGPT makes the AI chatbot which went viral last year look like the dumb younger sibling but the UK still can’t figure out what to do - or how to use - artificial intelligence.
Sunak pledges £100m ‘world leader’ AI boost as firms wooed at business summit April 24, 2023 Prime minister Rishi Sunak has insisted his government is undertaking “the most transformative changes to financial services regulations since the Big Bang”. Sunak insisted the Financial Services and Markets Bill was a “very significant piece of legislation”. He pledged that once the law was implemented, Solvency II reforms would “unlock tens of billions of pounds [...]