During last year’s festive period, over £11.5 million was lost to online shopping scams in the U.K., with Black Friday serving as a prime target, according to a new report by the National Cyber Security Centre. This marks at least a £1.1 million increase over 2022. Britain’s cyber chief, Richard Horne, says that AI is...
Tag: artificial intelligence
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AI could take up to 3 million UK jobs, report finds
Over time, artificial intelligence could lead to up to three million job losses in the UK, but that number will be offset by the new jobs created in the sector, a new report says. ADVERTISEMENT Artificial intelligence (AI) could eventually displace between one and three million jobs in the UK, according to a new study....
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U.K. Government Introduces AI Self-Assessment Tool
The U.K. government has launched a free self-assessment tool to help businesses responsibly manage their use of artificial intelligence. The questionnaire is intended for use by any organisation that develops, provides, or uses services that use AI as part of its standard operations, but it’s primarily intended for smaller companies or start-ups. The results will...
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TikTok’s 2023 revenue rises 75% in Europe, UK and other markets outside US, Asia
ByteDance-owned international short video-platform TikTok has reported total revenue of US$4.6 billion in 2023, an increase of nearly 75 per cent from a year earlier, in markets excluding the United States, Asia and Oceania. TikTok, which has more than 1 billion users worldwide, attributed that rise to “the continued growth of [its] user base”, “enhanced...
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UK secures £6.3B in data infrastructure investments
Four major US firms have announced plans to invest a combined £6.3 billion in UK data infrastructure. The announcement, made during the International Investment Summit, was welcomed by Technology Secretary Peter Kyle as a “vote of confidence” in Britain’s approach to partnering with businesses to drive growth. CyrusOne, ServiceNow, CloudHQ, and CoreWeave have all committed...
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Gen Z shoppers to embrace AI this holiday season
PITTSBURGH (KDKA) — As the holiday shopping season approaches, there are new ways retailers hope to boost business. Forget the outdated browse-and-buy strategy. Young shoppers want the help of artificial intelligence this year. “I use AI too with the generators and stuff for ideas. So, like ChatPT, all the ideas, it gives you a list,”...
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UK, US, EU Sign First International AI Treaty
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...
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Amazon launches AI shopping assistant Rufus in the UK
The solution is set to provide customers with more relevant searches. Credit: Amazon UK. Amazon has announced the UK launch of Rufus, a generative AI-powered conversational shopping assistant designed to revolutionise the online shopping experience. Rufus is now available in beta to a select group of UK customers on the Amazon mobile app, with plans...
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Unions to UK Banks: Get Ready to Retrain AI-Displaced Workers
Unions in the United Kingdom want the country’s banks to be ready to retain workers displaced by artificial intelligence. At the U.K.’s Trades Union Congress next month, labor organizations will call on lenders, insurance and accounting firms to be prepared to assist millions of workers whose jobs could be impacted by AI, the Financial Times...
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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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