Human drivers will be obsolete by 2050 as driverless technology takes over, say researchers Moshe Vardi and Bart Selman February 14, 2016 Cars driven by humans will become obsolete with the rise of driverless car technology, leading researchers have predicted, and it could happen as soon as 2050. "You cannot ride a horse in downtown Houston anymore. If you like horse riding, you have to go to horse ranches. The same is likely to happen with cars," said Moshe Vardi, [...]
Driverless cars could prevent 95 per cent of road accidents February 11, 2016 Making all cars driverless could prevent 95 per cent of car accidents and add £51bn a year to the UK economy, a new report has claimed. The report, by the Institution of Management Engineers (IME), said 95 per cent of crashes happen due to driver error. "The benefits of this sort of technology are huge," [...]
This is how addicted we are to our smartphones: One in three millennials have walked into something while looking at their phone February 2, 2016 Ever walked headfirst into a lamp post because you were focusing less on your surroundings than on following an unfolding Twitter debate on your phone? If you’re under 30 years old, chances are your answer is yes, according to a new study on millennials’ smartphone habits which reveals the (terrifying) full extent of our phone [...]
Falling oil prices are an opportunity for the City to help the Gulf States diversify February 1, 2016 I returned last week from an eight-day business visit to the Gulf, during which I moved between Dubai, Abu Dhabi, Saudi Arabia and Kuwait. Every lord mayor in recent memory has made a point of visiting the Gulf, not just because of its economic importance but because the City can support the region’s countries in [...]
Managing taxes in the sharing economy: People who make money through Uber, AirBnB and Etsy could be under-stating their profits – and HMRC is coming to get you January 27, 2016 The self-employed tax return deadline is only days away, leaving the many individuals that have made money through sharing economy services like Uber, AirBnB and Etsy struggling to work out what, if any, tax they have to pay this 31st of January. But they have to get clued up fast because Revenue & Customs recently announced [...]
Davos 2016: Why you can’t afford to ignore the fourth industrial revolution – and how data must become essential to your business January 22, 2016 There's been one phrase on everyone's lips at this year's World Economic Forum: the fourth industrial revolution. Definitions differ on what exactly it is, but one thing we can all agree on is that the fourth industrial revolution is here and it is happening a lot faster than many of us ever imagined. While the first [...]
The Uber, London taxi, TfL standoff is far from over as Boris Johnson calls for congestion charge exemption to be lifted January 20, 2016 Thought the fight was over? No sooner has one row over Uber been settled than another arises. The long-running dispute over how the startup is regulated by Transport for London, which has left London's black cab drivers rather sore, was finally ruled upon today. The new regulations were announced and a controversial five-minute wait rule – which even taxi drivers admitted was not viable – has [...]
Davos 2016: Why London fintech can transform the 21st century January 20, 2016 In recent years, there has been cynicism about the objectives of the World Economic Forum annual meeting at Davos, with reports of parties, private jets and closed-door discussions. However, the core purpose of the forum should not be dismissed in an era of global upheaval, tensions and economic uncertainty for billions across the developed and [...]
Transport for London’s road boss Garrett Emmerson: This is why we ditched the five-minute rule (and are proposing 13 other changes) January 20, 2016 London’s minicab trade has fundamentally changed in recent years, with welcome advances in technology giving customers greater choice and convenience. However, partly as a result of this, the number of ‘private hire’ (PHV) drivers has also boomed, rising from 59,000 in 2009/10 to more than 95,000 today. To keep up with this transformation we recently [...]
Uber rule changes: Transport for London to shake up private hire vehicle regulation – but it won’t insist on the five minute wait time January 20, 2016 Transport for London has revealed its plans to shake up private hire vehicles – including Uber – which would include formal English language requirements for drivers – but it won't insist on the controversial five-minute wait time. Other proposals include the introduction of guaranteed fare estimates for customers ahead of their journey, the provision of driver and vehicle details [...]