28.04.17 – Heatwave on the financial world
And we’re back at it! We’ve decided to keep this news bulletin very traditional. Scroll down to read about the local London news we’re proud of, a bit on education – and, of course – the famous weather forecast… Octopus style.
The majority of financial institutions interrogated for the 2017 PwC Global FinTech report expressed their concerns over the disruption FinTech companies will have on their businesses. In the wake of this new threat, banks are considering partnering with FinTech institutions. In fact, 82% said they’re ready to work with FinTech services in the near future. Another issue around this hot topic for financial companies is their ability to successfully implement new technologies in their businesses. Will this cool down? Time will tell.
London intends to keep its title of EU tech leader, even with Brexit around the corner. Encouraging figures on emerging technologies showed that £207 million was brought in alone from AI and machine learning. Other technologies, such as robotics and drones, have benefited from investors’ attention. This is the proof that, although the UK is set to leave the European Union, London is still open for business.
The professional social network has recently hit the 500 million users, and celebrated its success by sharing some top data. We’ve learnt that London is the most connected place in the world, and that the UK has made it to the Top 5 of the most connected countries (the United Arab Emirates tops that list). What’s more, HR jobs, and staffing & recruitment bag first place when it comes to the most connected jobs and industries. See you at 1 billion, LinkedIn!
Here’s one for all you number geeks. It’s a mishmash of useful figures to help you get your head around the tech industry. Example? 90% of FinTech firms are feeling confident in a post-Brexit UK. And a third of British businesses want to see more AI and chatbots in their companies’ strategy.
As technology becomes deeper rooted in businesses, the need for experts continues to grow. One crucial challenge for companies is to have a better handle on their data. But recruiters are struggling to find competent data analysts. The UK needs to train young people to meet today and tomorrow’s needs. Following the success of their first postgraduate programme on this topic City, University London has opened a new undergraduate course, focusing on Data Science to fill the skills shortage gap.