enterprise Archives

What will AI regulation look like for businesses?

Unlike food, medicine, and cars, we have yet to see clear regulations or laws to guide AI design in the US. Without standard guidelines, companies that design and develop ML models have historically worked off of their own perceptions of right and wrong.

This is about to change.

As the EU finalizes its AI Act and generative AI continues to rapidly evolve, we will see the artificial intelligence regulatory landscape shift from general, suggested frameworks to more...

24 March 2023 | Applications

AI professionals seek job flexibility and stability over exciting perks

Research suggests that AI professionals looking for a new job prioritise flexibility and stability over exciting perks.

Despite recent high-profile layoffs, the wider talent shortage is ongoing. Organisations looking to attract, or retain, the best candidates are offering numerous unique benefits.

However, research from BenchSci finds that AI, machine learning, and data professionals are mostly looking for flexibility and stability in their future...

20 March 2023 | Enterprise

Editorial: UK puts AI at the centre of its Budget

British Chancellor Jeremy Hunt announced the country’s Spring Budget this week and supporting the AI industry was at the centre.

The UK is Europe’s AI leader. Indeed, behind the US and China, the country’s tech sector overall has the third-highest amount of VC investment in the world – more than Germany and France combined – and has produced more than double the number of $1 billion tech firms than any other European country.

Gerard Grech, CEO of Tech Nation,...

16 March 2023 | Artificial Intelligence

Zoom enters the conversational AI arena

Zoom is getting into the conversational AI arena with the launch of Zoom Virtual Agent.

The chatbot solution aims to improve how businesses assist their customers and employees by delivering fast and highly-personalised responses.

“Every leader I speak to is seeking dual outcomes from their CX technology: superior omnichannel resolutions for their customers and an improved bottom line,” said Mahesh Ram, Head of Digital Customer Experience at...

27 January 2023 | Applications

Microsoft releases Azure OpenAI Service and will add ChatGPT ‘soon’

Microsoft has announced the general availability of the Azure OpenAI Service and plans to add ChatGPT in the near future.

Currently, Azure OpenAI Service provides access to some of the most powerful AI models in the world—including Codex and DALL-E 2.

A “fine-tuned” version of GPT-3.5 will also be available through Azure OpenAI Service soon.

https://twitter.com/OpenAI/status/1615160228366147585

Azure OpenAI Service was unveiled in November 2021....

17 January 2023 | Applications

State of AI 2022: Adoption plateaus but leaders increase gap

According to McKinsey’s latest State of AI report, leaders are pulling ahead but overall adoption is plateauing.

McKinsey notes that organisations that report using AI in at least one business area have more than doubled since 2017.

The most significant jump in adoption was between 2017 (20%) and 2018 (47%). A peak was reached in 2019 (58%) but has since tailed off to 50% in 2022.

Considering the plateau includes the pandemic years – when businesses were...

7 December 2022 | Applications

Straight from AI & Big Data Expo: Generating business value with AI

If you ask ten different data practitioners to define AI, you’ll get ten different answers. In its simplest form, AI is software that recognizes and reacts to complex patterns—but the way in which businesses derive value from those patterns can vary drastically.

In recent years, we’ve seen a number of incredible AI applications in healthcare, manufacturing, finance, and beyond. So, why is it that up to 92% of AI projects still fail to yield business...

15 November 2022 | Artificial Intelligence

Omdia: The chatbot market will remain healthily diverse

Omdia analysts have assessed that the chatbot market will remain “served by a robust, diverse ecosystem of vendors”.

The report highlights that it’s contrary to the assessment of vendor assessments and traditional technology market trends.

Mark Beccue, Principal Analyst at Omdia, commented:

“There are several reasons for a robust chatbot solutions market.

One, there is persistent market demand for solutions which address a broad spectrum of...

12 October 2022 | Artificial Intelligence

UK AI sector achieved record funding in Q2 2022

New data from Tech Nation and Dealroom found that VC investment in UK AI companies hit a record in Q2 2022 and is on track to at least equal last year.

Around 2,009 AI companies are based in the UK, the AI capital of Europe. Renowned companies include Graphcore, BenevolentAI, Darktrace, Wayve, and DeepMind.

Last year saw a record investment of £6.6 billion flow into UK AI companies. In 2022 so far, £3.2 billion has been invested. Tech Nation notes that investment into...

6 October 2022 | Applications

Ronan Kirby, Starmind: On using AI to surface business knowledge

There’s a good chance the answer that an employee needs to do their job effectively is available within the company, but it can often be difficult to surface.

Research suggests that around three hours per day are spent searching for information. Even more frustratingly, around 44 percent of all searches end in failure. In total, around $1 million per month is lost for every 1,000 employees in a business.

Starmind believes that it doesn’t have to be this way and...