Search Results for: economic

Businesses planning major investments into Generative AI to increase productivity

Businesses planning major investments into Generative AI to increase productivity

firms are planning major investments into generative AI technologies to drive increases in productivity, but are still being cautious about their impact.A new report from Cognizant and Oxford Economics New Work, New World: Quantifying Global Gen AI Momentum suggests that firms are planning major investments into generative AI technologies to drive increases in productivity, but are still being cautious about their impact. Additionally, 76 percent of businesses say they are looking to leverage the technology to create new revenue streams, while 58 percent are incorporating revenue increases into their business cases. More →

Chancellor to accelerate the sale of public buildings to plug budget gap

Chancellor to accelerate the sale of public buildings to plug budget gap

Chancellor Rachel Reeves is set to announce significant measures aimed at reducing government spending and optimising public sector assets including public buildingsIn an effort to tackle the fiscal challenges and balance the UK’s budget, Chancellor Rachel Reeves is set to announce significant measures aimed at reducing government spending and optimising public sector assets including public buildings, today. Reeves will lay out her plans in her first major speech as chancellor, where she will highlight what she describes as a £20 billion gap in government spending, attributing it to the economic mismanagement of the previous government. More →

Shortage of high-quality data threatens the AI ‘boom’

Shortage of high-quality data threatens the AI ‘boom’

A number of fundamental issues, including a shortage of high-quality data with which to ‘train’ the technology is threaten the AI ‘boom’, according to a new white paper from the Open Data InstituteA number of fundamental issues, including a shortage of high-quality data with which to ‘train’ the technology is threatening the AI ‘boom’, according to a new white paper from the Open Data Institute. The paper Building a better future with data and AI is based on research carried out by the Institute in the first half of 2024. It claims to identify significant weaknesses in the UK’s technological infrastructure that threaten the predicted potential gains – for people, society, and the economy – from the surge of interest in artificial intelligence and its applications. It also outlines the ODI’s recommendations for creating diverse, fair data-centric AI. More →

Getting the long term unemployed back into work will transform the economy, says Government adviser

Getting the long term unemployed back into work will transform the economy, says Government adviser

He argues that this approach is essential to address the unsustainable welfare costs associated with the long term unemployed and to mitigate the "toxic" reliance on immigrationThe rising costs of welfare and the country’s increasing dependency on immigration have become significant concerns, prompting a call for reform from a prominent government health adviser. Alan Milburn, a former health secretary, has emphasised the need for individuals with long-term illnesses and others stuck in a cycle of long term unemployment to actively seek employment. He argues that this approach is essential to address the unsustainable welfare costs associated with the long term unemployed and to mitigate the “toxic” reliance on immigration for the workforce. More →

If you offer people universal basic income, they work less but have more choice, study finds

If you offer people universal basic income, they work less but have more choice, study finds

A new study from the Open Research Lab found that while unconditional cash transfers such as universal basic income slightly reduced employment rates and work hours, they increased the financial stability and agency of recipientsA new study from the Open Research Lab found that while unconditional cash transfers such as universal basic income slightly reduced employment rates and work hours, they increased the financial stability and agency of recipients. People were 2 percent less likely to be employed and worked 1.3 fewer hours weekly but had higher incomes when including the cash transfers. The financial support allowed individuals to pursue education, caregiving, health improvements, and more meaningful work. Overall, cash transfers provided recipients with the flexibility to make employment decisions aligned with their personal goals and circumstances. More →

British icons showcase sustainable design at Material Matters during London Design Festival

British icons showcase sustainable design at Material Matters during London Design Festival

Bisley and MARK Product have announced their participation in Material Matters, as part of London Design Festival 2024Bisley and MARK Product have announced their participation in Material Matters, as part of London Design Festival 2024. This marks the debut of their collaboration since their strategic partnership was announced earlier this year, spotlighting their commitment to a sustainable and circular economy. Material Matters bring together over 40 world-leading brands, designers, makers and manufacturers. MARK and Bisley have been invited as part of the Room 12 exhibit, curated by designers TP Bennett and The Furniture Practice in celebration of the importance of material intelligence in architecture and design. Their installation focusses on the social aspect of the circular economy – how good jobs and skills along with building strong manufacturing and creative communities are essential for a sustainable future. More →

Government says launch of Skills England will transform the economy

Government says launch of Skills England will transform the economy

Skills England is intended to collaborate with central and local governments, businesses, training providers, and unions to address the skills needs of the next decade nationwidePrime Minister Keir Starmer and Education Secretary Bridget Phillipson have unveiled Skills England, an initiative designed to unify the fragmented skills landscape and foster a cohesive national ambition to enhance the nation’s skills. Richard Pennycook CBE, former chief executive of the Co-operative Group and lead non-executive director at the Department for Education (DfE), has been appointed as the interim Chair of the new body. More →

Greece goes against the flow by opting for a six day working week

Greece goes against the flow by opting for a six day working week

While countries around the world are exploring the idea of shorter work weeks, Greece has taken what many people may think is a surprising step in the opposite directionWhile countries around the world are exploring the idea of shorter work weeks, Greece has taken what many people may think is a surprising step in the opposite direction. In an effort to boost productivity, the country has implemented a mandatory six-day workweek for certain employees. More →

British Council for Offices Chief Executive Richard Kauntze to step down in summer 2025

British Council for Offices Chief Executive Richard Kauntze to step down in summer 2025

After soon-to-be 25 years of serving as Chief Executive for the British Council for Offices, Richard Kauntze will be stepping down in summer 2025. His successor will be appointed by the BCO Presidential Team in due course. More →

Save the Knowledge Worker – insights and strategies for remote-work success

Save the Knowledge Worker – insights and strategies for remote-work success

Kolekti’s new Save the Knowledge Worker reportUndoubtedly, the remote work revolution is in full swing. But it’s messy. Kolekti’s new Save the Knowledge Worker report found a colossal 96 percent of workers desire some form of remote work, and one in three employees is willing to quit if forced to return to the office full-time. And yet, which business leader can say their organisation has perfected the strategy for remote work? Most are still experimenting, tinkering, and tweaking. Even the end destination may be unclear for some. More →

Are these the top ten emerging technologies for 2024?

Are these the top ten emerging technologies for 2024?

The World Economic Forum has announced the publication of its annual Top 10 Emerging Technologies Report featuring technologies with the greatest potential to make a positive impact in the worldThe World Economic Forum has published its annual Top 10 Emerging Technologies Report featuring technologies with the greatest potential to make a positive impact in the world in the next three to five years. Among the technologies mentioned in the report are AI (obv), immersive building tech, intelligent materials and microbes that can sequester carbon.  More →

Office market upheaval means uncertain times for landlords

Office market upheaval means uncertain times for landlords

The UK office market is facing a period of significant upheaval, according to a new survey commissioned by workspace provider infinitSpaceThe UK office market is facing a period of significant upheaval, according to a new survey commissioned by workspace provider infinitSpace. The research paints what it says is a concerning picture for landlords, with a sizeable portion battling financial strain and even potential closure. Over 14 percent of the 250 surveyed landlords fear their office buildings could shut down within the next five years due to affordability concerns. More →