Salesforce £3.2bn investment a ‘ringing endorsement’ in UK economy, says Sunak June 29, 2023 Salesforce has announced a major investment of $4bn (£3.2bn) in its UK business over the next five years. The software company will use the cash injection to improve AI innovation and customer growth in the UK as companies become increasingly eager to transform digitally and capitalise on AI within their business operations. Prime Minister, Rishi [...]
Amazon launches legal action against ‘fake review brokers’ June 29, 2023 Amazon has filed four lawsuits against online fake review companies in an attempt to hold them to account for illicit behaviour that deceives consumers. The global tech company has challenged Reddit Marketing Pro, Mangocity, Littlesmm and Nice Discount with legal action this week. Amazon claims these ‘fake review brokers’ are trying to “mislead Amazon customers [...]
A ‘wasted’ year for WANdisco but growth is on the horizon, says new boss June 29, 2023 Troubled data firm WANdisco today announced loss-making results for 2022 but the new leadership hopes they can put a turbulent period behind them. WANdisco reported operative losses of $28.2m (£22.4m), a small triumph compared to 2021 profits which came in at negative $37.6m (£29.8m). The Sheffield-based company increased revenues of $9.7m (£7.7m), up by $2.4m [...]
New CMA bill could undermine UK’s tech superpower ambitions, CPS report warns June 29, 2023 The government should scrap its new Digital Markets, Competitions and Consumers (DMCC) bill because it is already too old, the Centre for Policy Studies (CPS) has warned today. The report, titled ‘The Unregulated Regulator’, alleges that dynamic digital markets have “outpaced” the new legislation. What’s more, it would weaken investment and grant the CMA “extensive [...]
Salesforce warns need to train workers in AI has ‘never been more urgent’ June 29, 2023 Companies urgently need to train staff how to use artificial intelligence tools effectively and safely, Salesforce’s UK & Ireland chief told CityAM Chief executive Zahra Bahrololoumi said the need for “highly skilled people” who can use trustworthy data sources and protect sensitive data has “never been more clear nor urgent”. The comments come as [...]
‘Get the companies under control!’: Microsoft president tells UK to get AI safety in order June 28, 2023 Microsoft president Brad Smith has reiterated that the UK needs to prioritise AI safety in its quest to become a global leader in new technologies. “Let’s get the companies under control”, Smith said, speaking at a packed Chatham House event on Wednesday afternoon, where he argued that a licensing regime is necessary on both a [...]
One Media reports revenue jump as copyright detection tool takes off June 28, 2023 One Media today reported a 15 per cent jump in revenue as its new copyright detection technology proves increasingly popular. The AIM-listed digital media rights group saw its revenue increase to £2.7m in the first half of last year, up from £2.4m for the same period last year. Some £2.5m of this revenue were driven [...]
London fintech Upp. pockets $10m as it eyes global expansion June 27, 2023 London-based fintech Upp. has secured $10m (£7.8m) in seed funding as its artificial intelligence and machine learning model wins over investors. The startup, which uses AI to automate online retail, has garnered support in a funding round spearheaded by Californian venture capital firm Bonfire Ventures. Mark Mullen, co-founder of Bonfire Ventures, said Upp. is “the [...]
UK entertainment and media market tops European charts with £100bn revenue hit June 27, 2023 The UK’s entertainment and media market is expected to hit revenues of £100bn by 2027, according to PwC’s latest forecast. The accounting firm’s Global Entertainment & Media (E&M) Outlook 2023-2027 also expects the UK to cling onto its top position in Europe as the leading E&M market over the next four years. In 2023 the [...]
KPMG: Generative AI could spur £31bn increase in UK productivity June 27, 2023 The UK’s battered economy could get a much-needed £31bn boost from the widespread adoption of generative AI, a new KPMG report has found. According to the ‘Big Four’ firm, generative AI has the potential to increase UK productivity by 1.2 per cent, the equivalent of an extra output of £31bn a year in the UK [...]
