UK economy could get a £550 billion boost from AI by 2035, Microsoft claims

UK economy could get a £550 billion boost from AI by 2035, Microsoft claims

by • AI, News, Technology

A new report commissioned by Microsoft suggests that the UK economy could see a significant boost of £550 billion by 2035 if the country embraces artificial intelligence (AI) and cloud technologyA new report commissioned by Microsoft suggests that the UK economy could see a significant boost of £550 billion by 2035 if the country embraces artificial intelligence (AI) and cloud technology. The report, titled Unlocking the UK’s AI Potential, claims to highlight several ways the technology can benefit the UK economy. These include increased productivity, improved public services, and the creation of new jobs. More →

We must embrace AI for sustainable workforce transformation

We must embrace AI for sustainable workforce transformation

by • AI, Comment, Technology

Some say AI will take on “80 percent of the jobs that exist today”, but history has shown that technological advancements have consistently led to the creation of new job rolesEach technological revolution has gotten faster; and the era of Artificial Intelligence is accelerating at an unprecedented rate—an intimidating prospect, given Musk’s recent prediction of AI surpassing human intelligence. Some say the tech will take on “80 percent of the jobs that exist today”, but history has shown that technological advancements have consistently led to the creation of new job roles, elevating the standard of living and improving overall productivity. More →

While AI revolutionises the workplace, employees take charge and companies scramble

While AI revolutionises the workplace, employees take charge and companies scramble

by • AI, News, Technology

 

A new study claims to reveal a new dynamic unfolding in the workplace: a rush towards AI adoption driven by employees, even as companies struggle to keep paceA new study claims to reveal a new dynamic unfolding in the workplace: a rush towards AI adoption driven by employees, even as companies struggle to keep pace. The 2024 Annual Work Trend Index from Microsoft and LinkedIn titled AI at work is here. Now comes the hard part highlights one particular finding: 79 percent of leaders believe AI is crucial for staying competitive, yet 60 percent worry their companies lack a proper plan. This leadership gap is creating a situation where employees are taking matters into their own hands. More →

Scale AI announces plans for new European headquarters in London

Scale AI announces plans for new European headquarters in London

by • AI, News, Property, Technology

 

Scale AI has selected London as the location for its first European headquarters, reinforcing the company’s mission to accelerate the development of AI globallyScale AI has selected London as the location for its first European headquarters, reinforcing the company’s mission to accelerate the development of AI globally. Scale’s United Kingdom (UK) office will serve as the centre of its operations in Europe. The firm is an artificial intelligence company headquartered in San Francisco in the US State of California. The company provides labelled data used to train AI applications. The firm was founded in 2016 by Alexandr Wang and Lucy Guo who had previously worked at Quora. More →

Trust gap on AI in the workplace must be overcome if businesses are to get ahead

Trust gap on AI in the workplace must be overcome if businesses are to get ahead

by • AI, Comment, Technology, Workplace

With many AI firms increasingly pivoting towards developing specialised tools for easier integration into the workplace, it may come as a surprise that half of the companies Freeths recently surveyed have no plans at all to implement them, with only 15 percent reporting that investing in artificial intelligence tools for human resources was a strategic priority. More →

AI is not coming for your job. But it will make it better

AI is not coming for your job. But it will make it better

by • AI, Comment, Technology, Workplace

Barry Murphy, Vice President GTM - Cloud, Applications & Infrastructure, Unisys, explains how business leaders can reassure workforces that AI will enhance their jobs, not replace them. “Artificial intelligence will outsmart humans, resolve all IT and business problems, and humans will not be needed in the workforce!” These are some of the most common misconceptions that too many companies and workforces currently have around AI and automation. To date, workforces have been inclined to broach AI with apprehension due to concerns that it will negatively affect or eliminate their jobs. Conversations have skewed towards the technology as a disruptive force, here to steal jobs and ultimately leave people redundant. A study found that 60 percent of workers are concerned about job loss in regards to working with Gen AI. Additionally, a further third worried that,  despite AI being unable to completely  replace them, it could make them less useful in the workplace. More →

Majority of young professionals feel happy about embracing AI in their lives

Majority of young professionals feel happy about embracing AI in their lives

by • AI, News, Technology

More than half of young professionals feel comfortable or very confident about the increasing integration of AI in various aspects of daily lifeMore than half of young professionals feel comfortable or very confident about the increasing integration of artificial intelligence (AI) in various aspects of daily life, while only 15 percent reported feeling unsettled or scared about the prospect, according to new research from CEMS, the Global Alliance in Management Education. Half (50 percent) also stated that social media impacts their life positively, while only just over a quarter (27 percent) feel that social media has a negative impact on their lives. Overall, 70 percent of graduates said that they feel optimistic about the future. More →

AI may boost productivity, but we are already becoming reliant on it, and that’s a problem

AI may boost productivity, but we are already becoming reliant on it, and that’s a problem

by • AI, News, Technology, Workplace

A Stanford report says that as AI continues to develop, navigating its benefits and potential drawbacks will be crucial.Just ten years ago, AI systems couldn’t even classify images as well as humans. Now, they’re routinely outperforming people on a range of tasks, according to a new report from the Stanford Institute for Human-Centered Artificial Intelligence (HAI). The 2024 AI Index is the latest update to the annual analysis of trends in artificial intelligence. Led by a team of experts from academia and industry, it’s one of the most in-depth reports on the technology and its impact available. This year’s edition tracks research, development, technical performance, responsible practices, economics, policy, public opinion, and more. More →

Majority of people feel confident in their ability to adapt to era of AI

Majority of people feel confident in their ability to adapt to era of AI

by • AI, News, Technology, Workplace

Following yesterday’s news about the fears CEOs harbour with the advent of AI in the workplace, a new poll from Indeed suggests that nearly 9 in 10 UK workers (89 percent) feel confident in their ability to adapt to change over the next five years. According to the survey, nearly two-thirds (63 percent) feel the skills needed for their role will change in the next five years, with 15 percent expecting significant changes. More →

Half of bosses now live in fear that AI could steal their jobs

Half of bosses now live in fear that AI could steal their jobs

by • AI, News, Technology

Hundreds of UK chief executives believe that artificial intelligence (AI) could steal their job, underlining widespread fears over the technology’s potential to shake up traditional working modelsHundreds of UK chief executives believe that artificial intelligence (AI) could steal their job, underlining widespread fears over the technology’s potential to shake up traditional working models. Nearly half (43 percent) of CEOs said they felt that their job could be at risk due to the technology, according to a new poll from AND Digital. The survey has been published in The CEO Digital Divide: are you accelerating enterprise value or slowing it down [registration], which surveyed 600 global CEOs and was conducted by independent research company Censuswide. More →

Microsoft announces new London AI research hub

Microsoft announces new London AI research hub

by • AI, News, Property, Technology

Microsoft AI is opening a new AI hub in Central London. The firm claims that the new Paddington based centre, dubbed Microsoft AI London will ‘drive pioneering work to advance state-of-the-art language models and their supporting infrastructure, and to create world-class tooling for foundation models’, collaborating closely with AI teams across Microsoft and with its partners, including OpenAI.  More →

AI turns out to be an effective administrator for academics

AI turns out to be an effective administrator for academics

by • AI, News, Technology

Researchers Maximilian Koehler, PhD candidate at ESMT, and Henry Sauermann, professor of strategy at ESMT, explore the role of AI, not as a “worker” performing specific research tasks such as data collection and analysis, but as a “manager” of human workers performing such tasks. Algorithmic management (AM) suggests a significant shift in the way research projects are conducted and can enable projects to operate at larger scale and efficiency. The study Algorithmic Management in Scientific Research is published in the journal Research Policy. More →

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