• This report from Herbert Smith Freshfields suggests that the “bank of 2040 will be vastly different to the bank of today, with new technology and artificial intelligence making financial services more accessible to underutilised markets and enabling customers to connect with banks in new ways. (That’s 23 years from now; in AI terms, forever. IMHO, prognostications about AI more than five years out are no better than wild guesses.)

 

  • The UK government’s departments for Business; Energy and Industrial Strategy; and Digital, Culture, Media and Sport, commissioned a study of AI. The report forecasts that AI could add an extra £630bn to the UK economy by 2035 and suggests ways in which the UK could become a world leader in the field. Recommendations include:

development of “data trusts”,

financial backing for AI training,

the setting up of an “AI Council”, and

that the Alan Turing Institute become the nation’s institute for AI.

Here are some thoughts about the report from the BBC.

 

  • And here’s another gentleman from the BBC with interesting thoughts about AI in the UK, including the report mentioned above, and whether AI is being “over-hyped.”