Search Results for: financial

British organisations must step up to the challenges of artificial intelligence, robotics and automation

by • AI, News, Technology

A report published by the RSA think-tank has encouraged UK businesses to embrace artificial intelligence, automation and robotics. arguing that new technology has the potential to raise productivity levels, boost flagging living standards, and phase out ‘dull, dirty and dangerous’ tasks in favour of more purposeful and human-centric work. The Age of Automation report warns, however, that the UK is fast becoming a ‘laggard’ in the adoption of new machines and called on UK business leaders to accelerate their take-up of technology. The RSA found that sales of robots to the UK decreased over 2014-15, with British firms falling behind the US, France, Germany, Spain and Italy. A YouGov poll of UK business leaders, commissioned by the RSA, found that UK business leaders are currently wary of adopting AI and robotics, with just fourteen percent of firms currently investing in this technology or soon planning to. Twenty-nine percent of businesses believe AI & robotics to be too expensive or not yet proven and twenty percent want to invest but believe it will take several years to ‘seriously adopt’ the new technology.

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Brexit having a significant impact on London firms, but tech and media sectors growing

Brexit having a significant impact on London firms, but tech and media sectors growing

by • Cities, Facilities management, News, Workplace

With the overwhelming majority of London businesses employing staff from the EU (88 percent), Brexit is having a significant impact on the capital’s companies, according to the latest CBI/CBRE London Business Survey. Just under three quarters of firms (73 percent) view uncertainty over the UK’s role in Europe as their top concern, whilst a similar number (69 percent) have developed, or are developing, a contingency plan for when the UK leaves the EU. Indeed, over a quarter of respondents (27 percent) indicated they are planning to move part of their operations overseas. Close to two thirds (62 percent) have, or are developing, a strategy to address skill shortages that could be incurred if restrictions are placed on EU nationals working in the UK. However, two thirds of the 271 respondents to the Survey (65 percent) said that the tech and creative sectors were the principal sectors for the capital’s economic growth over the next five years, followed by professional services (49 percent) and FinTech (47 percent).

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The mega trends that continue to reshape the workplace around the world

by • Events, Features, Property, Technology, Workplace design

Last week, over 600 workplace and property experts met in London at the CoreNet Global Summit 2017 to discuss some of the most important trends affecting the sector. The debates underlined one important fact about property and workplaces, which is how they are shaped by major, globalised events as much as they are local needs and the objectives of specific organisations. This quickly became evident on day one, which demonstrated how dramatic shifts in the geopolitical landscape, all of which are impacting corporate real estate – from America First to Brexit – remain key talking points for the industry. Opening speaker Linda Yueh (University of Oxford and London Business School) explored several possible scenarios, including how the focus of ‘Trumpism’ would have a significant effect on the U.S. role on the world stage, with the priority on the domestic economy leaving little scope for global trade. She also predicted that a ‘hard Brexit’, with no new trade deal with the EU, will be the most likely outcome for the UK’s withdrawal process; and that businesses will need to focus on alternative WTO rules as an urgent priority. Other impacting factors covered by Yueh included the rise of a dominant global middle class, and China’s need to rebalance its economic growth drivers.
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Millions of older workers fear poor health will shorten their working lives

by • News, Wellbeing, Workplace

Even though the age of the working population in the UM continues to rise, more than half of over fifties people have concerns around work and its impact on their health as they age, with women (61 percent) particularly worried about this. According to the study from Aviva, 13 percent intend never to stop work completely although only 14 percent of older workers say their workplace culture is positive towards them. According to Aviva’s latest Real Retirement study, 55 percent admit to fearing that work will become detrimental to their health or they might not be well enough to keep working, including 13 percent who say this is already an issue for them. Fewer than one in five (17 percent) over-50s workers say they have access to wellbeing advice and initiatives in the workplace which could help prevent health issues from impacting their careers.

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Banking sector will be ground zero for job losses from artificial intelligence and robotics

by • AI, Comment, Technology

Deutsche Bank CEO John Cryan has predicted a bonfire of industry jobs as automation takes hold across the finance sector. Every signal is that he will be proved right very soon. Those roles in finance where the knowledge required is systematic will soon disappear. And it will happen irrespective of how high a level, how highly trained or how experienced the human equivalent may currently be. Regular and repetitive tasks at all levels of an organisation already do not need to be done by humans. The more a job is solely or largely composed of these routines the higher the risk of being replaced by computing power. The warning signs have been out there for a number of years as enthusiastic reports about artificial intelligence have been tempered with fears about significant job losses in most sectors of the economy. Many roles have already all but disappeared in the march towards a fully digital economy. Older readers may recall typesetters, typists, and increasingly, switchboard operators and back room postal workers, as work of the last century. And the changing nature of work is relentless.

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Eight pathways launched to combat unethical practices in construction supply chains

by • Architecture, Facilities management, News, Property

A new eight stage action programme called APRES, has been released by the Building Research Establishment (BRE) to support the responsible and ethical sourcing of materials, products and people. This call to action has been created in partnership with Loughborough University and presents eight pathways to best practice to combat modern slavery and unethical practices in supply chains. The pathways aim to take organisations and individuals from the level of ‘Baseline’ to ‘Best in Class’ performance.

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Urgent action needed to boost small business workplace productivity says CIPD

by • News, Workplace

The CIPD is calling on Government to invest £13m a year to provide HR support to small businesses, as new research shows that it could be a key part of efforts to resolve the UK’s workplace productivity puzzle. The call is based on the evaluation of year-long People Skills pilots providing HR support for SMEs in Hackney, Stoke-on-Trent and Glasgow. People Skills was developed by the CIPD, with support from the JPMorgan Chase Foundation. It provided up to two days’ worth of free HR support to small firms, including face-to-face advice, a telephone helpline, online information and templates, as well as group training events.

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Companies overlooking cost of cyber risks as variety and number of breaches increase

by • Facilities management, Legal news, News, Technology

Companies are overlooking cost of cyber risks as incidents of breaches riseCyber risk is becoming increasingly common while the types of breaches are becoming more diverse, claims a new white paper by the audit and accounting expert BDO. For instance, ransomware is now the fifth most common type of malware; with the cost of freeing up computer systems from ransomware tripling since 2016. Yet organisations are continuing to spend up to four times more on insuring other company assets (e.g. property, equipment etc.) than on cyber insurance, despite an increasingly widespread belief that their cyber assets are in fact up to 14 percent more valuable. The report also finds that as cyber incidents increase, they become more difficult – and therefore more expensive – to defend. In the new cyber insurance white paper, BDO’s global cybersecurity leadership group stresses the importance of businesses gaining an understanding of their unique risk profiles in order to ensure the right cyber insurance for their needs. Cyber insurance: managing the risk does include some of the positive trends around cyber security – for example, both the level of Board involvement and investments in cybersecurity have increased significantly in the last 2-3 years.

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London Mayor launches strategy to make the city “one of the greenest on the planet”

London Mayor launches strategy to make the city “one of the greenest on the planet”

by • Cities, Environment, News

The Mayor of London, Sadiq Khan has launched a new environmental strategy which he claims will help make the capital the world’s first ‘National Park City and one of the greenest cities on Earth’. The strategy includes plans for a new £9million Greener City Fund to boost trees and green infrastructure; improved planning policy proposals to encourage more green roofs, green walls and rain gardens; the creation of a ‘Challenge Map’ to prioritise areas in need of green infrastructure; and a series of measures to tackle pollution, promote cleaner energy & make more than 50 per cent of London green by 2050. As part of the strategy, the Mayor will use planning regulations to protect the Green Belt and incorporate into new developments more ‘green roofs’ (roofs covered with grass and plants which are excellent for soaking up rainwater), green walls (which can be added to the outside walls of buildings by busy polluted roads and are covered in plants to help boost air quality), ‘rain gardens’ (small green spaces which help prevent flooding), and habitats for wildlife.

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Seven ways in which flexible working is making our lives more rigid

Seven ways in which flexible working is making our lives more rigid

by • Comment, Flexible working, Technology

One of the main reasons why books such as Catch 22 and 1984 make such mediocre films, is because celluloid struggles to capture the books’ preoccupation with the ways in which language can be used to subvert meaning and rationality. We don’t always have to lean on the bookcase to see how this works. It’s been evident recently in the coverage of the massive growth of zero hours working worldwide, although they have now been banned in New Zealand. There are now up to 1.5 million people on zero hours contracts in the UK and the adjective most commonly associated with the practice in the media coverage has been ‘flexible’, despite the fact that from the perspective of the majority of the people working on such contracts they are anything but. It’s yet another example of the subversion in our use of the term flexible working. It’s Doublespeak; an expression which means something completely different to, or indeed the opposite of, the thing it is describing.

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Reducing the risk of personal gambling becoming a corporate fraud issue

Reducing the risk of personal gambling becoming a corporate fraud issue

by • Comment, Workplace

A recently leaked confidential report for the betting industry says that, if introduced, the new rules to encourage responsible gambling in the UK would lead to closure of half of the country’s bookmakers and the loss of around 20,000 jobs. The report follows widespread concerns about the controversial use, and misuse, of Fixed Odds Betting Terminals (FOBTs) in betting shops which, have been shown to be one of the major causes for problem gambling behaviour (due to their addictive play). They allow customers to place wagers as high as £100 every twenty seconds. With gambling becoming ever more accessible through the spread of FOBTs, the growing number of online betting platforms and access to casinos on the high street, the pressure of funding a gambling habit has become one of the main reasons why people commit corporate fraud.

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Employees rate the best UK companies for work life balance

Employees rate the best UK companies for work life balance

by • News, Wellbeing

Jobsite Glassdoor has today identified the UK employers which offer the best work-life balance, according to individuals on the Glassdoor website. Winners are ranked based on their overall work-life balance rating from employees in the UK during the past year. For reporting simplicity, ratings are rounded to one decimal place though actual calculations extend beyond the thousandth to determine rank. According to the rankings, the five best employers in 2017 are Expedia, Lookers, American Express, HomeServe and Peninsula.

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