AI Research News | Latest AI Research Developments | AI News https://www.artificialintelligence-news.com/categories/ai-research/ Artificial Intelligence News Fri, 14 Jun 2024 16:07:59 +0000 en-GB hourly 1 https://www.artificialintelligence-news.com/wp-content/uploads/sites/9/2020/09/ai-icon-60x60.png AI Research News | Latest AI Research Developments | AI News https://www.artificialintelligence-news.com/categories/ai-research/ 32 32 NLEPs: Bridging the gap between LLMs and symbolic reasoning https://www.artificialintelligence-news.com/2024/06/14/nleps-bridging-the-gap-between-llms-symbolic-reasoning/ https://www.artificialintelligence-news.com/2024/06/14/nleps-bridging-the-gap-between-llms-symbolic-reasoning/#respond Fri, 14 Jun 2024 16:07:57 +0000 https://www.artificialintelligence-news.com/?p=15021 Researchers have introduced a novel approach called natural language embedded programs (NLEPs) to improve the numerical and symbolic reasoning capabilities of large language models (LLMs). The technique involves prompting LLMs to generate and execute Python programs to solve user queries, then output solutions in natural language. While LLMs like ChatGPT have demonstrated impressive performance on... Read more »

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Researchers have introduced a novel approach called natural language embedded programs (NLEPs) to improve the numerical and symbolic reasoning capabilities of large language models (LLMs). The technique involves prompting LLMs to generate and execute Python programs to solve user queries, then output solutions in natural language.

While LLMs like ChatGPT have demonstrated impressive performance on various tasks, they often struggle with problems requiring numerical or symbolic reasoning.

NLEPs follow a four-step problem-solving template: calling necessary packages, importing natural language representations of required knowledge, implementing a solution-calculating function, and outputting results as natural language with optional data visualisation.

This approach offers several advantages, including improved accuracy, transparency, and efficiency. Users can investigate generated programs and fix errors directly, avoiding the need to rerun entire models for troubleshooting. Additionally, a single NLEP can be reused for multiple tasks by replacing certain variables.

The researchers found that NLEPs enabled GPT-4 to achieve over 90% accuracy on various symbolic reasoning tasks, outperforming task-specific prompting methods by 30%

Beyond accuracy improvements, NLEPs could enhance data privacy by running programs locally, eliminating the need to send sensitive user data to external companies for processing. The technique may also boost the performance of smaller language models without costly retraining.

However, NLEPs rely on a model’s program generation capability and may not work as well with smaller models trained on limited datasets. Future research will explore methods to make smaller LLMs generate more effective NLEPs and investigate the impact of prompt variations on reasoning robustness.

The research, supported in part by the Center for Perceptual and Interactive Intelligence of Hong Kong, will be presented at the Annual Conference of the North American Chapter of the Association for Computational Linguistics later this month.

(Photo by Alex Azabache)

See also: Apple is reportedly getting free ChatGPT access

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Microsoft: China plans to disrupt elections with AI-generated disinformation https://www.artificialintelligence-news.com/2024/04/05/microsoft-china-plans-disrupt-elections-ai-generated-disinformation/ https://www.artificialintelligence-news.com/2024/04/05/microsoft-china-plans-disrupt-elections-ai-generated-disinformation/#respond Fri, 05 Apr 2024 10:08:46 +0000 https://www.artificialintelligence-news.com/?p=14650 Beijing is expected to ramp up sophisticated AI-generated disinformation campaigns to influence several high-profile elections in 2024, according to Microsoft’s threat intelligence team. Microsoft warned that state-backed Chinese cyber groups – with assistance from North Korean actors – “are likely to target” the presidential and legislative elections in countries such as the US, South Korea,... Read more »

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Beijing is expected to ramp up sophisticated AI-generated disinformation campaigns to influence several high-profile elections in 2024, according to Microsoft’s threat intelligence team.

Microsoft warned that state-backed Chinese cyber groups – with assistance from North Korean actors – “are likely to target” the presidential and legislative elections in countries such as the US, South Korea, and India this year. Their primary tactic is projected to be the creation and dissemination on social media of AI-generated content skewed to “benefit their positions” in these races.

“While the impact of such content in swaying audiences remains low, China’s increasing experimentation in augmenting memes, videos, and audio will continue – and may prove effective down the line,” Microsoft cautioned in the report released Friday.

The company cited China’s recent “dry run” utilising AI-synthesised disinformation during Taiwan’s January presidential election as a harbinger of this emerging threat. Microsoft assessed that a pro-Beijing group known as Storm 1376 or Spamouflage Dragon made the first documented attempt by a state actor to influence a foreign vote using AI-manufactured content.

Tactics deployed by the Chinese-backed operatives included posting fake audio clips likely “generated by AI” that depicted a former presidential candidate endorsing a rival, as well as AI-generated memes leveling unfounded corruption allegations against the ultimately victorious pro-sovereignty candidate William Lai. The group also created AI-rendered “news anchors” to broadcast disinformation about Lai’s personal life.

“As populations in India, South Korea, and the United States head to the polls, we are likely to see Chinese cyber and influence actors, and to some extent North Korean cyber actors, work toward targeting these elections,” the Microsoft report stated.

The company added that Chinese groups are already attempting to map divisive issues and voting blocs in the US through orchestrated social media campaigns, potentially “to gather intelligence and precision on key voting demographics ahead of the US Presidential election.”

While flagging the risk, Microsoft acknowledged that AI-enabled disinformation has so far achieved limited success in shaping public opinion globally. But it warned that Beijing’s growing investment and increasing sophistication with the technology poses an escalating threat to the integrity of democratic elections worldwide.

(Photo by Element5 Digital)

See also: How to safeguard your business from AI-generated deepfakes

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IPPR: 8M UK careers at risk of ‘job apocalypse’ from AI https://www.artificialintelligence-news.com/2024/03/27/ippr-8m-uk-careers-at-risk-job-apocalypse-from-ai/ https://www.artificialintelligence-news.com/2024/03/27/ippr-8m-uk-careers-at-risk-job-apocalypse-from-ai/#respond Wed, 27 Mar 2024 10:37:59 +0000 https://www.artificialintelligence-news.com/?p=14619 A report by the Institute for Public Policy Research (IPPR) sheds light on the potential impact of AI on the UK job market. The study warns of an imminent ‘job apocalypse’, threatening to engulf over eight million careers across the nation, unless swift government intervention is enacted. The report identifies two key stages of generative... Read more »

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A report by the Institute for Public Policy Research (IPPR) sheds light on the potential impact of AI on the UK job market. The study warns of an imminent ‘job apocalypse’, threatening to engulf over eight million careers across the nation, unless swift government intervention is enacted.

The report identifies two key stages of generative AI adoption. The first wave, which is already underway, exposes 11 percent of tasks performed by UK workers. Routine cognitive tasks like database management and organisational tasks like scheduling are most at risk. 

However, in a potential second wave, AI could handle a staggering 59 percent of tasks—impacting higher-earning jobs and non-routine cognitive work like creating databases.

Bhargav Srinivasa Desikan, Senior Research Fellow at IPPR, said: “We could see jobs such as copywriters, graphic designers, and personal assistants roles being heavily affected by AI. The question is how we can steer technological change in a way that allows for novel job opportunities, increased productivity, and economic benefits for all.”

“We are at a sliding doors moment, and policy makers urgently need to develop a strategy to make sure our labour market adapts to the 21st century, without leaving millions behind. It is crucial that all workers benefit from these technological advancements, and not just the big tech corporations.”

IPPR modelled three scenarios for the second wave’s impact:

  • Worst case: 7.9 million jobs lost with no GDP gains
  • Central case: 4.4 million jobs lost but 6.3 percent GDP growth (£144bn/year) 
  • Best case: No jobs lost and 13 percent GDP boost (£306bn/year) from augmenting at-risk jobs

IPPR warns the worst-case displacement is possible without government intervention, urging a “job-centric” AI strategy with fiscal incentives, regulation ensuring human oversight, and support for green jobs less exposed to automation.

The analysis underscores the disproportionate impact on certain demographics, with women and young people bearing the brunt of job displacement. Entry-level positions, predominantly occupied by these groups, face the gravest jeopardy as AI encroaches on roles such as secretarial and customer service positions.

Carsten Jung, Senior Economist at IPPR, said: “History shows that technological transition can be a boon if well managed, or can end in disruption if left to unfold without controls. Indeed, some occupations could be hard hit by generative AI, starting with back office jobs.

“But technology isn’t destiny and a jobs apocalypse is not inevitable – government, employers, and unions have the opportunity to make crucial design decisions now that ensure we manage this new technology well. If they don’t act soon, it may be too late.”

A full copy of the report can be found here (PDF)

(Photo by Cullan Smith)

See also: Stanhope raises £2.3m for AI that teaches machines to ‘make human-like decisions’

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STFC Hartree Centre signs agreement with Lenovo for state-of-the-art supercomputer https://www.artificialintelligence-news.com/2024/03/26/stfc-hartree-centre-signs-agreement-with-lenovo-for-state-of-the-art-supercomputer/ https://www.artificialintelligence-news.com/2024/03/26/stfc-hartree-centre-signs-agreement-with-lenovo-for-state-of-the-art-supercomputer/#respond Tue, 26 Mar 2024 09:50:35 +0000 https://www.artificialintelligence-news.com/?p=14608 The Science and Technology Facilities Council (STFC), a UK government agency that carries out research in science and engineering, has signed an agreement with Lenovo for the installation of a powerful new supercomputer for the STFC Hartree Centre. Ten times more powerful than its predecessor, but using less electricity thanks to Lenovo’s direct water cooling,... Read more »

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The Science and Technology Facilities Council (STFC), a UK government agency that carries out research in science and engineering, has signed an agreement with Lenovo for the installation of a powerful new supercomputer for the STFC Hartree Centre.

Ten times more powerful than its predecessor, but using less electricity thanks to Lenovo’s direct water cooling, the new supercomputer will power AI research for UK industry

The new supercomputer is part of the Hartree Centre’s £210 million Hartree National Centre for Digital Innovation (HNCDI) programme, which provides UK industry access to state-of-the-art digital technologies and expertise and is complementary to investments in the wider AI Research Resource (AIRR). 

It will support the HNCDI’s rapidly expanding supercomputing and AI activities, and will be installed later this year at its new £30 million supercomputing centre, currently under construction.   

A leap in supercomputing processing power

A 44.7 petaflop system, the Lenovo ThinkSystem Neptune will perform more than 44 quadrillion floating point operations (calculations) per second.

To put this into context, if you were to carry out one calculation per second, it would take nearly 1400 million years to reach this number.

The new GPU-based system (graphics processing unit) is perfect for AI workloads, and marks a significant leap for the Hartree Centre’s capabilities, with ten times the processing power of its current system, Scafell Pike. Furthermore, it will be more power-efficient, taking up less space and using less electricity per unit of performance.

The new supercomputer uses innovative warm water cooling which can reduce energy demands by up to 40% while boosting performance by up to 10%.

Powering UK Industry with AI

Located at STFC’s Daresbury Laboratory, at Sci-Tech Daresbury in the Liverpool City Region, the Hartree Centre is the UK’s only supercomputing centre dedicated to industry engagement. This capability will drive forward innovation in industry use cases and applications.

Its HNCDI programme plays a vital role in equipping businesses with skills and technical knowledge to adopt emerging digital technologies, including supercomputing, quantum computing, and AI.

It is enabling productivity, innovation and growth in UK organisations through access to these advanced supercomputing technologies, which are typically available only to academia and large-scale industry,

Solving global challenges

At the HNCDI, the new supercomputer will be strategically positioned to contribute to discovery-led industrial research, focusing on solutions to global challenges in areas such as:

  • weather and climate modelling
  • cleaner energy initiatives
  • drug discovery
  • health technologies
  • new materials
  • automotive advancements
  • legal applications

This includes the Hartree Centre’s continued collaboration with the UK Atomic Energy Authority, which is using the Centre to research new reactors for clean nuclear fusion energy.

Ultimately, the new supercomputer will reduce the time and cost associated with making research breakthroughs, including for organisations such as the Met Office, Unilever and Rolls Royce, that the Hartree Centre has continued to work with over the last decade.

Kate Royse, director, STFC Hartree Centre, said: “We are very excited to be working with Lenovo on our next generation of supercomputer at the Hartree Centre. Our mission is to equip UK industry with the knowledge, skills and compute needed to fully unlock the potential of advanced digital technologies. With our new supercomputer we will be able to support UK industry in the use of big data and AI technologies to enable UK businesses to take a leading role internationally on the responsible adoption and exploitation of AI technology.”

Noam Rosen, EMEA director HPC/AI, Lenovo, said: “Lenovo is equally enthusiastic about our collaboration with the Hartree Centre on its ambitious journey to revolutionize HPC and AI capabilities in the UK. Our collaboration is not just about delivering a state-of-the-art supercomputer; it’s about building a versatile, robust, and powerful system tailored to meet the Centre’s diverse and evolving needs. From advanced modeling and simulation in various scientific disciplines to pioneering work in AI and machine learning, this new power-efficient supercomputer will be a cornerstone for innovation, pushing the boundaries of big data and AI technologies to bolster the UK industry’s global leadership in responsible and ethical technology adoption.”

Mark Thomson, Executive Chair, STFC, said: “STFC’s agreement with Lenovo is an exciting milestone in our mission to provide UK businesses with access to the vital infrastructure and expertise that will help them to grow and succeed on a global scale, which in turn will drive productivity and job creation. By enabling UK industry to adopt advanced digital technologies, we are supporting the government ambitions to build a competitive and innovative digital economy that will both turbo drive economic growth and reap societal benefits for the UK, as well as for the UK to be a global AI superpower.”

The HNCDI new Lenovo supercomputer in numbers:

  • The ThinkSystem Neptune can perform the same number of calculations as 20,790 top of the range smartphones
  • An hour of calculation on a market leading smartphone would take 0.17 seconds
  • It can hold 4500 hours of 4k video in its working memory
  • It can hold 60,000 hours of 4k video in its hard disks

Want to learn more about AI and big data from industry leaders? Check out AI & Big Data Expo taking place in Amsterdam, California, and London. The comprehensive event is co-located with other leading events including BlockX, Digital Transformation Week, and Cyber Security & Cloud Expo.

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JumpCloud report reveals SMEs conflicted about AI https://www.artificialintelligence-news.com/2024/02/14/jumpcloud-report-reveals-smes-conflicted-about-ai/ https://www.artificialintelligence-news.com/2024/02/14/jumpcloud-report-reveals-smes-conflicted-about-ai/#respond Wed, 14 Feb 2024 10:04:24 +0000 https://www.artificialintelligence-news.com/?p=14375 JumpCloud today announced the findings from its Q1 2024 small to medium-sized enterprise (SME) IT Trends Report, “State of IT 2024: The Rise of AI, Economic Uncertainty, and Evolving Security Threats”. The report provides updated survey results and new findings to the company’s biannual SME IT Trends Report, which was first released in June 2021. The... Read more »

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JumpCloud today announced the findings from its Q1 2024 small to medium-sized enterprise (SME) IT Trends Report, “State of IT 2024: The Rise of AI, Economic Uncertainty, and Evolving Security Threats”. The report provides updated survey results and new findings to the company’s biannual SME IT Trends Report, which was first released in June 2021.

The latest edition of the report delves into the impact of artificial intelligence (AI) on identity management, security challenges, economic uncertainties, and the growing reliance on managed service providers (MSPs) in IT operations. JumpCloud commissioned this biannual survey of SME IT admins to gain unique insights into the day-to-day experiences of IT professionals who power and secure operations without enterprise-level budgets and staff.

The most recent survey results, polled from admins in the US, UK, and India, indicates how quickly AI has impacted identity management and highlights that IT professionals have both big hopes and big fears in their response to it. With a strong majority of respondents both planning or actively implementing within the next year and advocating for AI investment, IT leaders clearly see potential benefits from deploying AI in their workplaces. But IT admins report notable concerns around their organisations’ current ability to secure against related threats—and personal concerns about AI’s impact on their career.

“While AI is the buzzword that grabs headlines, it’s security that remains a paramount concern for IT teams given the increasing sophistication of external threats and rising regulatory pressures,” said Rajat Bhargava, CEO, JumpCloud. “And it’s only getting worse. We found that 56% of admins agree that they’re more concerned about their organisation’s security posture now than they were six months ago. To reduce this complexity and anxiety, organisations should look toward solutions that offer a unified, open identity and IT management approach. This can enhance security, mitigate operational disruptions, and alleviate admin burnout.”

Key findings include:

AI adoption: Optimism and concerns

A vast majority of admins see AI as a net positive for their organisation and think their organisation is approaching AI at the right pace—though this optimism is tempered by significant concerns about AI’s potential impact on security and individual careers. 

Topline AI findings include:

  • Organisations are actively planning for AI: Just 13% of organisations do not currently have any plans to implement AI initiatives and 76% agree their organisation should be investing in AI.
  • Admins optimistic about AI: 79% report that AI will be a net positive, versus just 6% who see it as a net negative. Most admins agree their organisations are approaching AI adoption at exactly the right speed (55%). Roughly equal amounts think they are moving too quickly (22%) or too slow (19%).
  • IT teams are wary about AI’s potential for organisational security and career: 62% agree that AI is outpacing their organisation’s ability to protect against threats overall and nearly half (45%) worry about AI’s impact on their job. 

Uncertainty for IT

The start of 2024 finds SMEs continuing to wrestle with economic uncertainties and IT teams unsure about what that means for their organisations and their operations.

Topline IT management findings include: 

  • Concerns about layoffs persist: 57% of organisations have experienced layoffs over the last year. Just over a quarter (27%) haven’t experienced layoffs and don’t expect any over the next six months.
  • Admins worried about the impact of budget cuts on security: 72% agree that any cuts to their security budget will increase organizational risk, and 56% are more concerned about their organisations’ security posture than they were six months ago.
  • Licensing costs increase while compliance mandates expand: 88% report vendors have increased prices over the last six months, and 76% report increased compliance and regulations requirements in their region. 
  • Device environments require IT flexibility, with Windows use down and macOS and Linux use up year-over-year: The average device type breakdown in SMEs is Windows at 60% (down from 64% in April 2023), macOS at 22% (up from 20% in April 2023), and Linux at 22% (up from 16% in April 2023). 
  • IT admins want centralized IT: 75% of IT professionals would prefer a single tool to do their job over a number of point solutions. In practice, admins most commonly need five to 10 applications to manage worker lifecycle (37%), though nearly one-quarter (22%) need 11 or more, and nearly 1 in 10 (9%) require more than 15 applications to manage worker lifecycle.

Security challenges persist as admins adjust their response 

IT teams continue to report that security concerns continue to dominate among the various challenges and responsibilities they manage. With the rise of AI and the evolving sophistication of cybersecurity threats, IT admins are adapting their responses and deploying additional layers of protection. 

Topline security findings include:

  • IT admins’ biggest challenge is security: 56% report security is the biggest IT challenge, followed by new services and application rollouts (45%), increased work burden (44%), followed by the cost of remote work solutions (42%).
  • Biometrics adoption up, though password-based systems are stubborn: While 83% of organisations use password-based authentication for some IT resources, 83% also require multi-factor authentication (MFA) and two-thirds require biometrics (66%)—even though 67% of IT professionals agree that adding additional security measures means a more cumbersome experience. The average employee has three to five passwords to log into their IT resources, though 15% of employees average 10 passwords or more.
  • The biggest security threats remain the same: The three biggest security concerns now are the same ones from April 2023. IT admins reported network attacks were their biggest challenge (40%), followed by software vulnerability exploits (34%) and ransomware (29%).

MSPs play major role in IT operations

MSPs are increasingly crucial to SME IT operations as increasing numbers of SMEs are turning to them for IT management. 

Topline MSP findings include:

  • MSPs taking over IT for SMEs: While 76% of SMEs rely on an MSP for some features, 42% of organisations use an MSP to completely manage their IT environment, a 56% increase from April 2023.
  • Organisations relying on MSPs for variety of functions: System security is the most common area for why SMEs use MSPs (57%) followed by cloud storage (52%), system monitoring (51%), system management (47%), managed backup (40%), hardware procurement (34%), business continuity/disaster recovery (32%), help desk (35%), and change management (27%).
  • MSPs are seen to offer a broad range of benefits: The top reasons SMEs report using an MSP are that they are up to date on the latest technologies (65%), they can provide a better user experience (60%), and they are cost-effective (57%).

Survey Methodology: 

JumpCloud surveyed 1,213 SME IT decision-makers in the UK, US, and India, including managers, directors, vice presidents, and executives. Each survey respondent represented an organisation with 2,500 or fewer employees across a variety of industries. The online survey was conducted by Propeller Insights, from November 14, 2023 to November 27, 2023.

The findings from the JumpCloud Q1 2024 SME IT Trends Report can be found in “State of IT 2024: The Rise of AI, Economic Uncertainty, and Evolving Security Threats,” here.

(Editor’s note: This article is sponsored by JumpCloud)

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Telcos to spend $20B on AI network orchestration by 2028 https://www.artificialintelligence-news.com/2024/02/12/telcos-spend-20b-ai-network-orchestration-by-2028/ https://www.artificialintelligence-news.com/2024/02/12/telcos-spend-20b-ai-network-orchestration-by-2028/#respond Mon, 12 Feb 2024 11:44:45 +0000 https://www.artificialintelligence-news.com/?p=14364 Telecom companies are expected to increase their spending on AI for automating network management to $20 billion by 2028, a new report from Juniper Research found. This would represent a 240 percent rise from estimated spending levels in 2024 of $6 billion. The researchers predict the investment growth will be necessary as telcos expand 5G... Read more »

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Telecom companies are expected to increase their spending on AI for automating network management to $20 billion by 2028, a new report from Juniper Research found. This would represent a 240 percent rise from estimated spending levels in 2024 of $6 billion.

The researchers predict the investment growth will be necessary as telcos expand 5G networks globally and develop future 6G networks. The AI software will play a vital role in optimising network performance and security; the two most critical areas expected to account for over 50 percent of operator spending on AI by 2028.

As enterprises make increasing use of cellular connectivity for smart factories, self-driving vehicles, and other bandwidth-intensive applications, the report argues AI orchestration will be essential for telcos to maximise efficiency, reduce costs, and provide the best quality of service.

Automating functions like real-time network analysis and rapid adjustments to changing demands can minimise expenses tied to network operations and provisioning.

“As operators compete on the quality of their networks, AI will be essential to maximising the value of using a cellular network for connectivity,” said Frederick Savage, author of the report.

“High-spending users will gravitate to those networks that can provide the best service conditions.”

Telcos that fail to incorporate AI may ultimately struggle to keep pace with customer demands for performance and security.

A full copy of the report can be found here (paywall)

(Photo by Larisa Birta on Unsplash)

See also: The UK is outpacing the US for AI hiring

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The UK is outpacing the US for AI hiring https://www.artificialintelligence-news.com/2024/02/07/the-uk-outpacing-the-us-for-ai-hiring/ https://www.artificialintelligence-news.com/2024/02/07/the-uk-outpacing-the-us-for-ai-hiring/#respond Wed, 07 Feb 2024 10:44:46 +0000 https://www.artificialintelligence-news.com/?p=14333 A new report finds that the UK has been growing its AI job market faster than the US over the last five years.  Analysing job listings data, the report by AIPRM found that – between 2017 and 2022 – the average yearly growth rate for AI hiring was 1.2% in the US. This compares to... Read more »

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A new report finds that the UK has been growing its AI job market faster than the US over the last five years. 

Analysing job listings data, the report by AIPRM found that – between 2017 and 2022 – the average yearly growth rate for AI hiring was 1.2% in the US. This compares to 1.22% in the UK over the same period. 

The UK’s strong performance means it outpaced other major economies like India (1.19% growth), Canada (1.26%), and Brazil (1.21%).

“Despite consistent expansion of the AI job market in America, the pace of growth lagged slightly behind other countries like Britain,” said John Smith, lead author of the report. 

As well as analysing hiring trends, the report also identified the highest paying and most in-demand AI jobs in the US. The top position goes to Director of Data Science, with an average salary of £200,263. 

AI Architects take second place, earning approximately £197,431 per year on average. The technical skills required for this role include architecture, AWS, business intelligence, and DataOps.

Various other roles in data science and machine learning all boast median average salaries exceeding £150,000.

California was also highlighted as a major AI hub, accounting for over a quarter (27%) of listings across the whole US. This is more than double the next highest state, New York, at 13%.

Discussing what’s driving the promising growth forecasts, Smith said: “Rapid advances in AI technology have unlocked exciting new capabilities for businesses across many sectors. As companies look to capitalise on areas like computer vision and natural language processing, we can expect demand for skilled AI workers to keep accelerating.”

However, he also warned of potential headwinds due to growing debate around AI regulation

“Policymakers still need to strike the right balance between innovation and ethics. Getting this right will help the AI job market continue thriving.” concludes Smith.

The full statistics can be found here.

(Photo by the blowup on Unsplash)

See also: Bank of England Governor: AI won’t lead to mass job losses

Want to learn more about AI and big data from industry leaders? Check out AI & Big Data Expo taking place in Amsterdam, California, and London. The comprehensive event is co-located with Digital Transformation Week and Cyber Security & Cloud Expo.

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Financial services introducing AI but hindered by data issues https://www.artificialintelligence-news.com/2024/01/29/financial-services-introducing-ai-hindered-data-issues/ https://www.artificialintelligence-news.com/2024/01/29/financial-services-introducing-ai-hindered-data-issues/#respond Mon, 29 Jan 2024 16:34:29 +0000 https://www.artificialintelligence-news.com/?p=14279 According to research by EXL, around 89 percent of insurance and banking firms in the UK have introduced AI solutions over the past year. However, issues with data optimisation could hinder their impact. The researchers surveyed executives at top UK insurers and lenders about their AI strategies and found that 44 percent have deployed AI... Read more »

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According to research by EXL, around 89 percent of insurance and banking firms in the UK have introduced AI solutions over the past year. However, issues with data optimisation could hinder their impact.

The researchers surveyed executives at top UK insurers and lenders about their AI strategies and found that 44 percent have deployed AI across eight or more business functions—especially in marketing, business development, and regulatory compliance. 

Nearly 9 in 10 financial services leaders reported investing upwards of £7.9 million in AI over their last fiscal year. Over a third invested £39 million or more, exemplifying the industry’s willingness to commit major capital to AI implementation.

Despite the positive strides in AI integration, the study suggests that organisations might be overlooking the importance of prioritising their data operations. Nearly half (47%) admitted their organisations are only “minimally data driven,” raising concerns about the effectiveness of AI implementation without a solid data foundation.

“It’s clear industry leaders recognise AI’s potential, but external pressures to implement quickly can lead to unchecked investment,” commented Kshitij Jain, EMEA Practice Head at EXL. “The risk is that ensuring operations are truly data driven gets deprioritised, which can prove very costly.”

The research also identified a group of “Strivers,” representing 45 percent of respondents, who are implementing AI more narrowly across around four functions. Their focused approach has allowed them to efficiently leverage AI for cost-cutting, outperforming early AI adopters by 23 percentage points.

Additionally, over half of respondents are investing more in AI specifically due to advancements in generative AI. However, 70 percent voiced deep concerns about risks related to generative AI like potential brand damage and inaccurate data outcomes.

“The key with any AI rollout is a measured, strategic approach—getting the data architecture right, testing solutions, and training employees,” Jain concluded. “For enterprise adoption to succeed, boards must buy into AI’s capabilities and ensure investment is being used effectively.”  

A full copy of the research can be found here (registration required)

(Photo by Alev Takil on Unsplash)

See also: NCSC: AI to significantly boost cyber threats over next two years

Want to learn more about AI and big data from industry leaders? Check out AI & Big Data Expo taking place in Amsterdam, California, and London. The comprehensive event is co-located with Digital Transformation Week and Cyber Security & Cloud Expo.

Explore other upcoming enterprise technology events and webinars powered by TechForge here.

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IMF: AI could boost growth but worsen inequality https://www.artificialintelligence-news.com/2024/01/15/imf-ai-could-boost-growth-but-worsen-inequality/ https://www.artificialintelligence-news.com/2024/01/15/imf-ai-could-boost-growth-but-worsen-inequality/#respond Mon, 15 Jan 2024 18:06:36 +0000 https://www.artificialintelligence-news.com/?p=14177 The International Monetary Fund (IMF) predicts that AI could boost global productivity and growth, but may displace jobs and worsen inequality. In a new analysis, IMF economists examined AI’s potential impact on the global labour market. While many studies foresee jobs being automated by AI, the technology will often complement human work instead. The IMF... Read more »

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The International Monetary Fund (IMF) predicts that AI could boost global productivity and growth, but may displace jobs and worsen inequality.

In a new analysis, IMF economists examined AI’s potential impact on the global labour market. While many studies foresee jobs being automated by AI, the technology will often complement human work instead. The IMF analysis weighs up both scenarios.  

The findings are striking: almost 40 percent of jobs globally are susceptible to automation or augmentation by AI.

Historically, new technologies have tended to affect routine tasks—but AI can also impact high-skilled roles. As a result, advanced economies face greater risks from AI but also stand to gain more of its benefits versus emerging markets.

Per the IMF’s research, about 60 percent of jobs in advanced economies may be impacted by AI. Around half of those jobs could benefit from AI integration, enhancing productivity. For the remainder, AI may execute key human tasks, lowering labour demand, wages, and hiring. In some cases, human jobs could disappear entirely.

In emerging and developing economies, IMF economists predict AI exposure of 40 percent and 26 percent respectively. This suggests fewer immediate AI disruptions than advanced economies. However, many emerging markets lack the infrastructure and skills to harness AI’s benefits. Over time, this could worsen inequality between countries. 

The IMF warns AI may also drive inequality within countries. Workers able to exploit AI may become more productive and boost wages, while those who cannot fall behind.

Research shows that AI can accelerate the productivity of less experienced staff. Younger workers could therefore benefit more from AI opportunities whereas older workers may struggle adapting.  

Advanced economies are better prepared for AI adoption but must still prioritise innovation, integration, and regulation to cultivate its safe and responsible use. For emerging markets, the priority is developing digital infrastructure and skills.

To assist countries in crafting effective policies, the IMF has introduced an AI Preparedness Index—evaluating readiness in areas such as digital infrastructure, human capital, innovation, and regulation. Wealthier economies – including Singapore, the US, and Denmark – have shown higher preparedness for AI adoption.

The AI era has arrived, and proactive measures are crucial to ensuring its benefits are shared prosperity for all.

(Photo by Levi Meir Clancy on Unsplash)

See also: McAfee unveils AI-powered deepfake audio detection

Want to learn more about AI and big data from industry leaders? Check out AI & Big Data Expo taking place in Amsterdam, California, and London. The comprehensive event is co-located with Digital Transformation Week and Cyber Security & Cloud Expo.

Explore other upcoming enterprise technology events and webinars powered by TechForge here.

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Dynatrace: Organisations embrace AI, yet face challenges https://www.artificialintelligence-news.com/2023/12/12/dynatrace-organisations-embrace-ai-yet-face-challenges/ https://www.artificialintelligence-news.com/2023/12/12/dynatrace-organisations-embrace-ai-yet-face-challenges/#respond Tue, 12 Dec 2023 13:00:04 +0000 https://www.artificialintelligence-news.com/?p=14058 Research from Dynatrace sheds light on the challenges and risks associated with AI implementation. The report underscores the need for a composite AI approach. This involves combining various AI types – such as generative, predictive, and causal – along with diverse data sources like observability, security, and business events. This holistic strategy aims to provide... Read more »

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Research from Dynatrace sheds light on the challenges and risks associated with AI implementation.

The report underscores the need for a composite AI approach. This involves combining various AI types – such as generative, predictive, and causal – along with diverse data sources like observability, security, and business events. This holistic strategy aims to provide precision, context, and meaning to AI outputs, ensuring reliable results.

Key findings:

  • 83% of tech leaders emphasise the mandatory role of AI in navigating the dynamic nature of cloud environments.
  • 82% anticipate AI’s critical role in security threat detection, investigation, and response.
  • 88% foresee AI extending access to data analytics for non-technical employees through natural language queries.
  • 88% believe AI will enhance cloud cost efficiencies through support for Financial Operations (FinOps) practices.

“AI has become central to how organisations drive efficiency, improve productivity, and accelerate innovation,” said Bernd Greifeneder, Chief Technology Officer at Dynatrace.

“The release of ChatGPT late last year triggered a significant generative AI hype cycle. Business, development, operations, and security leaders have set high expectations for generative AIs to help them deliver new services with less effort and at record speeds.”

While organisations express optimism about AI’s transformative potential, concerns linger:

  • 93% of tech leaders worry about potential non-approved uses of AI as employees become more accustomed to tools like ChatGPT.
  • 95% express concerns about using generative AI for code generation, fearing leakage and improper use of intellectual property.
  • 98% are apprehensive about unintentional bias, errors, and misinformation in generative AI.

“Especially for use cases that involve automation and depend on data context, taking a composite approach to AI is critical. For instance, automating software services, resolving security vulnerabilities, predicting maintenance needs, and analysing business data all need a composite AI approach,” added Greifeneder.

“This approach should deliver the precision of causal AI, which determines the underlying causes and effects of systems’ behaviours, and predictive AI, which forecasts future events based on historical data.”

As organisations forge ahead with AI adoption, balancing enthusiasm with a mindful approach to challenges becomes paramount. The survey underscores the transformative potential of AI, but its effective integration requires careful consideration and a diversified AI strategy.

“Predictive AI and causal AI not only provide essential context for responses produced by generative AI but can also prompt generative AI to ensure precise, non-probabilistic answers are embedded into its response,” says Greifeneder.

“If organisations get their strategy right, combining these different types of AI with high-quality observability, security, and business events data can significantly boost the productivity of their development, operations, and security teams and deliver lasting business value.”

A full copy of the report can be found here (registration required)

(Photo by Matt Sclarandis on Unsplash)

See also: AI & Big Data Expo: Demystifying AI and seeing past the hype

Looking to revamp your intelligent automation strategy? Learn more about the Intelligent Automation Event & Conference, to discover the latest insights surrounding unbiased algorithyms, future trends, RPA, Cognitive Automation and more!

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