London law firms say Brexit will have no significant impact on profitability or employment levels April 24, 2018 More than 90 per cent of London’s 100 largest law firms think that Brexit will have no significant impact on their profitability or staffing levels. Research by real estate business CBRE showed that 98 per cent of firms thought that Brexit would have no significant effect on employment levels while 95 per cent of firms [...]
How is the PR industry adapting to the march of artificial intelligence? April 23, 2018 With the House of Lords having reported in the opportunities and threats posed by artificial intelligence (AI), I have asked what my sector – the PR industry – is doing in anticipation of AI’s rise. Are the machines really coming for our jobs or will AI free us up from our time-consuming tasks so we [...]
What Facebook’s downfall will mean for the future of fintech April 20, 2018 The year began with headlines predicting the entrance of Facebook and Google into the banking market, following the introduction of new Open Banking rules which forced banks and payment companies to share data with third parties if customers agreed. The changes were meant to boost account switching and improve price comparison, but some speculated that [...]
BenevolentAI founder allays fears of a robot takeover as the Woodford-backed firm reels in $115m April 19, 2018 The founder of artificial intelligence (AI) startup BenevolentAI believes robots will be able to exist in a symbiotic relationship with humans, refuting the idea that they will replace all jobs. Speaking to City A.M., Ken Mulvany said AI will “multiply the power of our intellect” in the same way the steam engine multiplied our physical [...]
Labour and the City of London: What the party would offer the financial services industry April 19, 2018 From the meetings and conversations I’ve had in the last two-and-a-half years with people from across the finance sector, from different organisations and with different responsibilities, there has been a consistent message. People want to know where they stand. They want to know where we as a Labour Party are coming from, what we in [...]
DEBATE: Is it possible to create ethical AI? April 17, 2018 Is it possible to create ethical AI? Emma Kendrew, artificial intelligence lead at Accenture Technology UKI, says YES. Yes, we can create ethical artificial intelligence (AI). But you must acknowledge that you can’t create AI one day, and have a fully matured ethical framework the next. AI needs to be nurtured in the same way [...]
Hedge funds’ “star traders” are being booted out of the limelight in favour of data-driven strategies and artificial intelligence April 16, 2018 The hedge fund industry is at an “inflection point”, according to titans in the sector, which could see the idea of “star managers” take a back seat to artificial intelligence (AI) and data-driven strategies. Efficiency in markets and the wider availability of financial data has helped make it harder for hedge funds to produce returns [...]
Blockchain energy trading: London startup Verv has performed the UK’s first energy trade on the blockchain April 13, 2018 A London-based machine learning startup has completed the UK’s first physical trade of energy on the blockchain. Verv uses artificial intelligence (AI) to allow customers with renewable energy supplies and battery storage to sell surplus power directly to their neighbours. The firm is currently conducting a trial at Hackney’s Banister House Estate with hopes of [...]
Cyber security firm Avast set for London’s largest tech listing at £2.8bn April 12, 2018 Cyber security software company Avast has announced it is planning to float on the London Stock Exchange (LSE) next month. The company’s initial public offering (IPO) could see the firm valued at $4bn (£2.8 bn), making it London’s largest ever listing for a technology company. The company, which boasts some 435m users worldwide, is headquartered [...]
How to bring the UK’s 1.5m unbanked into the digital economy before cash is displaced | City A.M. April 12, 2018 Last month’s inaugural Spring Statement had everything one might expect from a chancellor more renowned for fiscal prudence than visionary reform. Philip Hammond did, however, acknowledge the rapid pace of change in financial technology, launching a consultation to ensure “our economy is fit for the future and keeps pace with changes in the ways that [...]