“As one of the “challenger” banks in the United Kingdom, six-year-old Tandem provides credit cards and savings accounts to over a million customers in its home market.
The bank has set up various machine learning and deep learning models to generate financial analytics, which helps customers predict cash flow, upcoming bills and expenses, etc. The AI models also help the bank in tackling fraud, marketing optimization, and assessing customers’ personal credit for lending products.”
“There is noise currently being made about adopting a 4-day working week in the UK, and Unite is furthering that call here. No small thing, given that the union represents 1.2 million workers.
“Unite has undertaken an in-depth analysis of the threats automation poses to the 21 sectors of the British and Irish economy where the union is organised,” Graham wrote me. The union has consulted with 3,000 workplace reps across those sectors for input on how to address their automation plans. They’ve ID’d the top 10 employers in each of those sectors, Graham says, as well as the top 10 employers of women and POC workers at risk of both job automation and maltreatment via biased AI systems.”
“A new research report by Microsoft shows that 56 percent of retail companies inthe United Kingdomstill not use AI, while for example, 44 percent of financial service providers and 40 percent of manufacturers don’t either. “Clearly, for the sector to thrive in the future, the speed of change must increase”, Microsoftwarns.
Interestingly, another recent study, by Rackspace, shows a more optimistic image. According tothis research, retailers in the United Kingdom clearly recognize the significant opportunity that AI presents: one in four IT decision makers in this industry are planning to use this technology in-store over the next twelve months. This study claims that across both in-store and ecommerce deployments, AI will account for 7.5 percent of total UK retail sector IT budget over the next year.”