Bank’s chief economist warns of technological unemployment – is he right?
Mass unemployment induced by technological change is a future the UK must prepare for rather than ignore, according to the Bank of England’s chief economic.The debate is worth having.
Banking and manufacturing to lead big data growth
Revenues for big data and business analytics solutions forecast to reach $260 billion in 2022, led by the banking and manufacturing industries, according to IDC.
Updated: Gatwick uses whiteboards after screen failure
Passengers at Gatwick Airport were forced to gather around whiteboards for flight information while a technical issue caused a major failure in Vodafone-controlled screens on Monday morning. Vodafone, which provides the airport's IT services, says its engineers have now fixed a damaged fibre cable which saw flight information screens go down for more than six hours on Monday. Following the repair, Vodafone released a statement saying they were "very sorry for any problems caused by this issue."
FinTechs counter BoE chief’s AI warning
FinTechs have hit back at the chief economist of the Bank of England’s warning that the UK will need a skills revolution to avoid “large swathes” of people becoming “technologically unemployed” due to artificial intelligence (AI) making many jobs obsolete. Andy Haldane said that job losses would be compensated for by the creation of new jobs as a “new technological wave” broke over society, but noted that lessons must be learned from previous shifts in industrial technology.
Ocado seeks patent for robo farmers
Online supermarket Ocado has filed for a European patent around the concept of “vertical farming” with robots maintaining a variety of tasks.
M&S partners with Twilio for call centre automation
Marks & Spencer has entered into partnership with Twilio, a cloud-based automated communications service, to help it handle more than 12 million customer calls annually.
Customers trial Canada’s first voice banking service
The first trial of an authenticated voice banking service has been launched to customers in Canada. Innovation Credit Union and Conexus Credit Union will take part in a pilot by banking services provider Central 1 which will see customers control a number of bank account actions via voice command on Amazon Alexa devices.
Facebook to stream Spanish football to Indian subcontinent
Another sports streaming deal for Facebook as the social platform will show top flight Spanish football to the sub-Indian continent. It is indicative of the direction that sports and video in general are moving towards.
NHS trust seeks help from FinTech players
A London hospital trust is looking to exploit the growing trend for FinTechs looking to gain a foothold in the public health space as it issued a call to help it upgrade its digital health finance systems.The finance department at Chelsea and Westminster Hospital and its charity arm CW+ have launched an appeal for FinTechs to help them identify innovative technologies that would improve efficiencies and lead digital transformation in financial operations after similar digital programmes were established to support patient care.
UK HealthTech startup raises £3 million
Healthera, a Cambridge-based digital health startup, has just raised £3 million in series A funding. Founded in 2015 by chief executive Quintus Liu and fellow Cambridge alumni Martin Hao and Jin Dai during their last year of study, Healthera connects patients to a platform of pharmacies and NHS GPs, allowing them to track and order prescriptions, access services and monitor their medication intake in one digital service.
Manufacturing industry at high risk of cyberattacks
The manufacturing industry has had a lower profile as cyberattacks against the retail, financial services and healthcare industries have made headlines, but manufacturers have become prime targets for cybercriminals, according to a specialist.
Spain signs €500m Virgin Hyperloop One deal
It is hoped that investment into Virgin’s first such facility in Europe will accelerate the development and testing of Virgin Hyperloop One’s next-gen transport technology and commercialisation across the region.
TMT is top sector - despite tariffs and trade wars
Against a backdrop of tariffs, trade wars, and media wars, Technology, Media & Telecom (TMT) has arguably been the top sector to watch in the year to date, with total deal value for the sector globally doubling to $371.1 billion.