Speedier drug trials and better films: how AI is transforming businesses

Keir Starmer this week announced a 50-point plan that aims to give the UK world leader status in artificial intelligence and grow the economy by as much as 47bn a year over a decade. The multibillion-pound investment, which seeks to create a 20-fold increase in the amount of AI computing power under public control by 2030, has been framed as a gamechanger for businesses and public organisations. The reaction to the announcement has been mixed, given it is far from clear that the much-hyped potential of AI will result in the level of economic benefit forecast. Many are concerned that the technology could lead to widespread job cuts, while others fear a destruction in the value and growth of the creative industries after learning of proposals to make it easier for AI companies to mine artistic works for data, for no cost. Despite such concerns, for many in the world of business the AI revolution is already here and transforming their industries.