Motorpoint’s profits jump 80% to £2.7m as the car retailer sells 350 vehicles using its new AI agent ‘Lily’ and warns over uncertainty ahead of Reeves’s Budget.
Category: AI
Artificial intelligence coverage with the Business Matters filter: not the hype cycle, but what AI adoption actually looks like inside UK firms – the tools, the costs, the failures, and the regulation heading down the track.
One in six UK employers expect job cuts from AI in next year
One in six UK employers expect artificial intelligence to cut jobs within the next year, with white-collar roles most at risk, according to a new survey by the CIPD.
Savile Row entrepreneur Phoebe Gormley raises £3m for AI fashion sizing start-up Fit Collective
Savile Row tailor Phoebe Gormley raises £3m for Fit Collective, an AI start-up tackling fashion’s sizing crisis and £230bn in global returns.
AI firm Stability AI wins High Court case against Getty Images over copyright claims
Stability AI defeats Getty Images in a landmark UK copyright case. Judge rules AI model Stable Diffusion is not an “infringing copy,” fuelling calls for new UK regulation.
Big Short investor Michael Burry places $1.1bn bet against leading AI stocks
Michael Burry, famed for predicting the 2008 crash, bets $1.1bn against Nvidia and Palantir as Wall Street warns of an AI bubble and possible 10% market correction.
OpenAI strikes $38 billion deal with Amazon to supercharge AI computing power
OpenAI has signed a landmark $38 billion agreement with Amazon Web Services (AWS) to secure the immense computing power required to train and deploy its next generation of artificial intelligence systems — marking one of the biggest technology infrastructure deals ever struck.
Half of UK adults now use AI for financial advice, study finds
A Lloyds Banking Group study reveals 56% of Britons are turning to ChatGPT and other AI platforms for financial guidance — from budgeting to pensions — raising concerns over misinformation and data privacy.
Steven George-Hilley appointed as AI director for Parliament Street think tank
Parliament Street, one of the UK’s leading think tanks has today appointed Steven George-Hilley as its Director of Artificial Intelligence, in a newly created role.
PoobahAI raises $2M to mainstream AI-built blockchains
AI and Web3 startup PoobahAI has raised $2 million in seed funding from FourTwoAlpha Ltd, the early Ethereum and Cosmos investor, in a move designed to make AI-powered blockchain creation accessible to anyone, regardless of technical expertise.
ChatGPT firm hits $500bn valuation in landmark profit shake-up
OpenAI takes on new investor-friendly structure as Microsoft deepens AI partnership
Amazon to cut 14,000 corporate jobs as AI reshapes workforce
Amazon will cut 14,000 corporate jobs as part of a major restructuring to streamline operations and accelerate its multi-billion-dollar investment in artificial intelligence.
JPMorgan launches AI chatbot to help staff write performance reviews
JPMorgan Chase has given employees permission to use its in-house AI chatbot to help write year-end performance reviews, signalling a major step in the integration of artificial intelligence into daily corporate management.
Business Secretary vows to harness AI and deregulation to turbocharge UK growth
Business Secretary Peter Kyle has outlined an ambitious plan to harness artificial intelligence and streamline regulation to boost the UK’s economy, telling business leaders the country must “innovate its way out” of financial crisis.
Oxford AI startup Astut raises £1.6m to tackle ‘never-before-seen’ business crises with explainable AI
Oxford spinout Astut secures £1.6m seed funding to commercialise AI that helps organisations make decisions in crises with no historical data.
Paygentic raises $2m pre-seed round to build payments infrastructure for the AI-native economy
AI payments startup Paygentic secures $2m pre-seed funding to build flexible billing infrastructure for AI-native and agentic businesses.
