In a report released today, PwC found that the general net effect of AI on jobs in the UK will be broadly neutral, however, certain sectors will be affected very differently. For example, PwC predict AI having a positive effect on the health and social work sector, where they estimate employment to increase by nearly one million. While they expect a 25% reduction in the number of jobs in the manufacturing industry, this represents almost 700,000 jobs. John Hawksworth, the chief economist at PwC, said: "Major new technologies, from steam engines to computers, displace some existing jobs but also generate large productivity gains." "This reduces prices and increases real income and spending levels, which in turn creates demand for additional workers."
Shanghai-based computer vision company Yitu announced today that it has acquired an additional US$100 million in funding, with China Industrial Asset Management as the sole investor this round. Yitu is one of China's four AI unicorns, along with Face, Cloudwalk and SenseTime. On June 12th, 2018, Yitu completed its C Round with US$200 Million from GC Capital, ICBC International, and SPDB International. This new funding raises Yitu's valuation to over US$2.3 billion. Yitu was found in 2012 and focuses on computer vision, natural language processing, knowledge reasoning, intelligent hardware, and robotics.
This is the tech news you need to know this Thursday. News of this deal comes just four months after President Trump blocked Broadcom from acquiring chipmaker Qualcomm in a $103 billion hostile takeover on national security grounds. The new terms give Facebook explicit permission to audit developers' use of data, in what looks an effort to prevent a second Cambridge Analytica-style scandal. Musk was responding to a Twitter user who said he had been told Musk wouldn't be able to help bring clean water to Flint. According to an excerpt of the account in Vanity Fair, employees feared Brin's behaviour would lead to a sexual harassment lawsuit.
SHANGHAI (Reuters) - Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk on Tuesday landed a deal with Chinese authorities to build a new auto plant in Shanghai, its first factory outside the United States, that would double the size of the electric car maker's global manufacturing. The deal was announced as Tesla raised prices on U.S.-made vehicles it sells in China to offset the cost of new tariffs imposed by the Chinese government in retaliation for U.S. President Donald Trump's heavier duties on Chinese goods. Musk was in Shanghai Tuesday, and the Shanghai government in a statement said it welcomed Tesla's move to invest not only in a new factory in the city, a center of the Chinese auto industry, but in research and development, as well. China has long pushed to capture more of the talent and capital invested by global automakers in advanced electric vehicle technology. Tesla plans to produce the first cars about two years after construction begins on its Shanghai factory, ramping up to as many as 500,000 vehicles a year about two to three years later, the company said.
WASHINGTON--(BUSINESS WIRE)--Jul 10, 2018--The following is an opinion editorial provided by Naveen Rao of Intel Corporation. This press release features multimedia. Naveen Rao was the founder of Nervana and is now corporate vice president and general manager of the Artificial Intelligence Products Group at Intel Corporation. Most people agree that artificial intelligence (AI) will transform modern society in positive ways. From autonomous cars that will save thousands of lives, to data analytics programs that may finally discover a cure for cancer, to machines that give voice to those who can't speak, AI will be known as one of the most revolutionary innovations of mankind.
WASHINGTON--(BUSINESS WIRE)--The following is an opinion editorial provided by Naveen Rao of Intel Corporation. Most people agree that artificial intelligence (AI) will transform modern society in positive ways. From autonomous cars that will save thousands of lives, to data analytics programs that may finally discover a cure for cancer, to machines that give voice to those who can't speak, AI will be known as one of the most revolutionary innovations of mankind. But this fantastic future is a long way off, and the path to get us there is still under construction. Never before has society undertaken such a significant transformation so deliberately, and no blueprints exist to guide us.
WASHINGTON--A new initiative kicks off today to evaluate the use of artificial intelligence (AI) and situational awareness technologies during critical incidents. The effort is a joint partnership between the U.S. Department of Homeland Security (DHS) Science and Technology Directorate (S&T) and Canada's Department of National Defence science and technology organization, Defence Research and Development Canada Centre for Security Science (DRDC CSS) to ensure both American and Canadian next generation first responders are better connected, protected and fully aware during critical incidents. Over the next two years, the two countries will collaborate on new research and development projects, hold joint workshops and field experiments and share best practices and lessons learned to ensure the safety and effectiveness of first responders and the public. "Canadian and American responders have very similar requirements," said John Merrill, DHS S&T's Director of Next Generation First Responder Apex Program. "By jointly determining research and development priorities between the two countries, we can reach our goal faster and more efficiently, eliminating duplication of effort and optimizing funding."
Artificial Intelligence (AI) is the new black in Singapore, with the city-state forging ahead to seal its status as an AI hub in the region. Just last year, a national AI programme was unveiled by the National Research Foundation (NRF) to "grow the knowledge, create the tools and develop the talent to power Singapore's AI efforts" . In addition, the NRF has also announced plans to pump in US$107 million for the project over the next five years. A recent research from Accenture found that AI could nearly double Singapore's annual economic growth rates by 2035. The plans by the government are hence unsurprising as AI is deemed the next generation technology that will power Singapore's growth.
On the afternoon of July 4th, the AI World 2018 was held in the Press Office of Shanghai municipal government. At the press conference, Wu Qing, Deputy Mayor of Shanghai introduced the conference. AI World 2018 will be held in Shanghai from September 17 to 19 of this year by National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Industry and Information Technology, the National Internet Information Office, the Chinese Academy of Sciences, the Chinese Academy of Engineering and the Shanghai Municipal People's Government with the approval of the State Council under the background of the historic exchange of the new round of scientific and technological revolution and industrial change and the high-quality development demand in China. The conference, with the theme of "New Era of Artificial Intelligence," with the "High-end, Internationalized, Professionalized and Marketable" policy, consists of forum summit, special activities, display applications and innovation competitions, focusing on the combination of "investment in production, learning and research". With the theme of "enlightening intelligence and setting sail for the future," the competition, based on globalization, specialization and high end, aims to encourage artificial intelligence, accelerate the talents, find excellent projects, and expand the international influence of China's artificial intelligence.
ThetaRay, a big data analytics company based in Hod HaSharon, Israel, today announced that it raised more than $30 million in a funding round led by Jerusalem Venture Partners (JVP), GE, Bank Hapoalim, OurCrowd, SVB Investments, and others. That puts its fundraising total to date at about $60 million. "In this era when criminal activity and money laundering are increasing and becoming more sophisticated and also regulation is on the rise, there is a greater demand for our solutions," Mark Gazit, CEO of ThetaRay, said in a statement. "As the amount of digital information grows, you just can't protect it without artificial intelligence systems. ThetaRay offers the most advanced and mature solutions to detect threats before they happen."