The UK has signed the world’s first international treaty on artificial intelligence — alongside the European Union, the United States, and seven other countries. The agreement commits signatories to adopting or maintaining measures that ensure the use of AI is consistent with human rights, democracy, and the law. These measures should protect the public against...
Tag: AI
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UK adjusts AI strategy to navigate budget constraints
The new UK Government is developing an AI strategy that prioritises public sector adoption over direct industry investment, as part of broader cost-cutting measures ahead of the autumn budget. Since taking office, the government has been reviewing AI-related expenditures and has already cancelled £1.3 billion worth of investments in related technologies proposed by the previous...
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AI Statistics 2024: $25m+ Investment Surge in U.S. and UK Businesses
A new report has found that 8% of U.K. and and 7% of U.S. decision-makers plan to spend over $25 million (£19.5 million) on AI initiatives this year. This comes after many investors voiced their concerns about the technology’s capabilities and their potential return on investment. According to the 2024 State of AI report from...
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UK Government Announces £32m of AI Projects
The U.K. government has announced a £32 million investment into 98 AI projects that promise to cut train delays, speed up prescription delivery, and reduce supply chain emissions. This comes days after it was revealed that the £1.3 billion earmarked for AI supercomputers had been scrapped. The companies receiving financial backing include V-Lab, which is...
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UK Government Scraps £1.3bn Earmarked for AI and Tech Innovation
The U.K. government has shelved £1.3 billion worth of funding that had been earmarked for AI and tech innovation. This includes £800 million for the creation of the exascale supercomputer at the University of Edinburgh and £500 million for the AI Research Resource — another supercomputer facility comprising Isambard at the University of Bristol and...
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UK cancels two computing infrastructure projects for AI support worth $1.3 billion, to prioritise other fiscal plans | Today News
The United Kingdom has dropped two taxpayer funded $1.7 billion (£1.3 billion) worth of computing infrastructure projects (£500 million and £800 million, respectively), to prioritise other fiscal plans, CNBC reported, citing a government spokesperson. The first project worth £500 million was promised to the AI Research Resource by former Prime Minister Rishi Sunak’s government in...
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Intuit to close Edmonton office as global tech firm cuts 1,800 jobs across operations | CBC News
TurboTax-parent Intuit said on Wednesday it will let go of about 1,800 employees, or 10 per cent of its workforce, as it looks to focus on its artificial intelligence-powered tax preparation software and other financial products. The company, which has invested heavily in providing generative AI powered accounting and tax preparation tools for small and...
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Fiverr Report: 83% of U.K. Businesses Increasing Wages for AI Skills
The majority of U.K. businesses are willing to offer higher wages to candidates with skills in AI, a new report has found. Hiring managers will pay 45% more on average for those with demonstrable expertise in areas like natural language processing, AI content creation and chatbot development. However, the necessary AI skills are hard to...
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Delaying AI’s Rollout in the U.K. by Five Years Could Cost the Economy £150+ Billion, Microsoft Report Finds
Adding five years onto the time it takes to roll out AI in the U.K. could reduce its economic impact in 2035 by more than £150 billion, a Microsoft report has revealed. While the country is second in the world in its ability to take advantage of AI, only behind the U.S., the lead is...
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9 out of 10 UK Business Leaders Suffer From Tech Anxiety That Disrupts Their Sleep, BT Study Finds
While rapid digital transformations can result in many business benefits, a new study has revealed that they also take a toll on mental health. Nearly nine out of 10 U.K. business leaders say they suffer from tech-related stress that’s severe enough to disrupt their sleep. BT commissioned a survey of 2,000 business decision makers to...
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4 IoT Trends U.K. Businesses Should Watch in 2024
The realm of the Internet of Things encompasses more than just the latest products. As the network of connected devices grows — the number worldwide is expected to reach over 29 billion in 2027 — so do the policies, responsibilities and innovations that surround it, all of which contribute to successful IoT integration. With help...
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3 UK Cyber Security Trends to Watch in 2024
Staying up to date with the latest in cyber security has arguably never been more paramount than in 2024. Financial services provider Allianz named cyber attacks this year’s biggest risk for business in the U.K. and a top concern for businesses of all sizes for the first time. However, many professionals are still in the...
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