As Stephen Hawking questions AI, will it be the best or worst thing to ever happen to humanity? October 20, 2016 Suranga Chandratillake, general partner at Balderton Capital, says the Best. Evolution is powerful but slow. As a result, we humans are stuck with the bodies and minds we have today – and we know that neither will change dramatically in our lifetimes, or in those of our children. It is technology that frees us from these [...]
Open Banking: Meet 10 startups that just won cash for innovative ideas December 13, 2017 Nearly a dozen startups have been chosen for a cash prize totalling £5m for their innovative ideas for making banking easier for small businesses. A firm that is a current account for freelancers that can help them manage tax and expenses, called Coconut, and another, Funding options, a marketplace for financial products for small firms, [...]
Artificial Intelligence is a threat to society, an EU committee (EESC) has warned June 1, 2017 Artificial intelligence (AI) could pose a threat to the fabric of our society, according to an opinion published last night by the European Economic and Social Committee (EESC). The EESC’s Workers’ Group, which is comprised of representatives from national trade unions, found 11 areas in which AI raises societal concerns – ranging from labour to [...]
Philip Hammond mulls VAT overhaul as Budget day looms | City A.M. November 13, 2017 Philip Hammond is mulling an overhaul to the VAT system that could affect thousands of small businesses as part of next week’s Budget. The chancellor is considering dropping the current threshold – which stands at a turnover of £85,000 – in a move that could raise as much as £2bn in taxes. City A.M. understands [...]
Job cuts? No, artificial intelligence and automation will usher in a new wave of roles, IT bosses say June 12, 2017 Widespread job losses will not be a natural consequence of greater use of artificial intelligence (AI) by UK businesses, research released today by telecoms giant BT suggested. In fact, a third of those polled by BT felt AI and automation said the so-called “Fourth Industrial Revolution”, would have the opposite effect: to create more jobs. [...]
The UK must not get left behind by China’s rise as a new superpower February 5, 2018 Last week, the Prime Minister visited China, a country set to have the largest economy on Earth by 2030. Its rapid growth is expected to continue for another generation. In 2016, foreign direct investment from China reached $180bn – a striking figure when compared with 2002, when it totalled less than $5bn. The sophistication of [...]
Automation is evolution, not a class war January 26, 2018 I suffer the great misfortune of living near a busy Tesco Express store, which, absent of self-service checkouts, often makes the innocuous task of buying eggs feel like a test of one’s self-restraint. While waiting for the two portraits of human inefficiency behind the till to serve 20 shoppers, glancing at my phone, I read [...]
Looking for a new year’s resolution? Invest in ethical finance December 22, 2017 As a society, we have never been more aware of the impact of our actions. From the food we eat to the cars we drive, our sense of social conscience has never been stronger. In 2016, data from The Vegan Society showed there has been a 360 per cent increase in the number of vegans [...]
GDPR spurs Facebook too publish “privacy principles” and education campaign January 29, 2018 Facebook is doubling down on a privacy drive with the publication of “principles” ahead of the roll out of tough new laws in Europe. The tech giant, which is currently under scrutiny over its reach and power, has for the first time explicitly outlined its stance on data privacy with seven key principles and the [...]
Machine learning, artificial intelligence and robo-advisers: The future of finance? August 4, 2017 The topic of machine learning-enabled artificial intelligence (AI) is gaining increasing visibility in the world of investment management. Of particular interest is the application of AI to the development of smarter robo-advisers that some hope, while others fear, will yield 'intelligent' and cost-effective investment management advice. This topic was raised by investment professionals during the [...]