Why Britain needs a minister for AI August 8, 2019 With the nation in a state of economic and political uncertainty, Britain’s newly appointed Prime Minister looks to technology to rejuvenate and refocus the country. He announces “a major national effort to bring advanced technology and new processes into industry”, launching the government’s first ministry of technology. Tech experts across the country rejoice as policymakers [...]
Public mistrust in AI ‘puts UK tech dominance at risk’ August 8, 2019 Public mistrust in artificial intelligence risks setting the UK back in the global tech race, according to a report published today. UK businesses must lead by example and take an ethical approach to the new technology if they are to secure consumer confidence, the Confederation of British Industry (CBI) warned. Read more: Google-owned AI firm [...]
Google-owned AI firm Deepmind suffers ballooning losses as debt mounts August 7, 2019 Deepmind, the artificial intelligence company owned by Google, has posted a huge increase in loss for the full year as its debt level reached more than £1bn. Read more: Google takes off as revenue tops expectations The London-headquartered company reported a loss of £470m in 2018, compared to £302m the previous year, according to its [...]
Payments firm Wirecard posts surge in profit as it nets new clients August 7, 2019 German payments firm Wirecard reported a jump in profits in its half-year results today and said it expected to do better in 2019 than originally thought. The firm, which provides payments systems to businesses and cards to customers, was boosted by new relationships with companies such as supermarket Aldi. Read more: Softbank to invest €900m [...]
City Moves for 7 August – Who’s switching jobs at Oaknorth, Harworth and Adarga? August 7, 2019 Today’s City Moves includes Oaknorth, Harworth and Adarga. Oaknorth Next-generation credit platform Oaknorth has announced the appointment of Jackson Hull as its chief technology officer and chief operating officer. Jackson will be responsible for Oaknorth’s architecture and product programme, as well as its product and engineering teams. He will also be in charge of the [...]
Unconscious bias and lack of diversity is holding business back August 6, 2019 The lack of diversity in technology is not a new issue. A study by Statista showed that female employees make up between 26 percent and 43 percent of the workforce at major tech companies. However, even this does not tell the whole story, as the number of women in engineering or product-focussed jobs is even [...]
Debate: Are professional traders becoming obsolete? August 6, 2019 Debate: Are professional traders becoming obsolete? Yes – Mike Read is chief executive and co-founder of Pelican Trading. Trading as we know it is certainly becoming obsolete. Financial instruments will always be traded, but the traditional isolated trading model we know today will soon be consigned to the past. Platforms that connect individuals wanting to [...]
Phrasee reveals how artificial intelligence will change marketing August 5, 2019 We’re all aware that artificial intelligence (AI) is predicted to transform every sector of the economy, and marketing is no exception. Already, the industry is using this new technology to analyse data or give product recommendations to customers. Of course, as adoption of the technology increases, so too is anxiety over the future of jobs. [...]
Artificial intelligence could solve Britain’s productivity puzzle August 2, 2019 At a time of technological innovation and low unemployment, why is UK productivity close to 16 per cent behind other advanced economies in the world? Experts disagree on the causes of the UK’s “productivity puzzle” but they, the government, and technology companies like ours agree that artificial intelligence (AI) will form a crucial part of [...]
Two thirds of adults fear AI will take jobs August 2, 2019 The public is concerned about the impact of artificial intelligence on their jobs and personal data, while some fear the technology could ultimately be responsible for the end of humankind, a new survey has revealed. 67 per cent of UK adults worry that AI will result in machines taking peoples’ jobs, according to a study [...]