In March 2024 the EU Parliament adopted the AI Act. Providers and users in the UK will not be directly impacted by it. Having said that, it is likely that AI systems that are used in the UK and the EU will be adapted to meet EU standards to reduce the likelihood of non-compliance. The UK will catch up at [...]
Amazon first introduced its “Just Walk Out” technology in 2016. This allowed Amazon Fresh shoppers to select items, scan a code / their payment card and walk out without going to a cashier. It turns out that their technology wasn't good enough to do this without recruiting 1,000 staff in India to review camera footage. 70% of transactions required such [...]
Everyone is talking about ChatGPT and AI generally. It has come close to passing the multiple-choice part of the US bar exam and has earned passing grades on law school essays that resemble ones written for the exam. Microsoft has invested billions and has added it to its search engine, Bing, in the hope that it will catch up ground lost to Google. As AI becomes [...]
Barclays have set up a training contract where participants will spend half their time at TLT or Simmons & Simmons (i.e. in private practice) and the other half in house at Barclays. At the end of the training contract, trainees can apply for nq positions at any of the three organisations. This course, along with the SQE, is another way [...]
Once hailed as “one of the most innovative developments” in the home loan market and “the bedrock of financial planning for millions”, the Shared Appreciation Mortgage which was offered to consumers by the Bank of Scotland (now part of the Lloyds Banking Group) and Barclays Bank in the 90s, soon revealed itself as a grossly unfair product with bitter consequences [...]
Billed by the Banks in the late 90s as one of the best and most generous retirement mortgages on the market, SAMs offered customers the opportunity to release up to 25% of the value of their property. The mortgages have, however, had the effect of trapping clients in their own homes. In addition to the adverse practical impact of the [...]
Since April 2016 companies in the UK have had to identify their owners and controllers. Those details have formed part of a publicly-available register held by Companies House. Ownership registers such as this have been introduced internationally in recent years. This is as part of a move towards increasing corporate transparency to combat money laundering, the financing of terrorism and tax evasion. The Court of Justice [...]
The UK data reform Bill was postponed upon the appointment of Liz Truss as the new Prime Minister. Now, it appears that Bill is on hold. The new Secretary of State for DCMS, Michelle Donelan appears to want to take data reform in a new direction. Reform of the data reform, if you like. She has promised "the design of a tailored, business-friendly British system of [...]
This week there is a second reading of the proposed Carer’s Leave Bill 2022-2023 in the House of Commons. The second reading is only the second stage of a Bill being considered in the House of Commons, before it can then proceed to be considered by the House of Lords. If this Bill is introduced the current proposal would grant [...]
Like many businesses, Starbucks closed its outlets in Russia. Now, a new chain owned by Russian rapper Timati and restaurateur Anton Pinsky is taking over the outlets. It has appointed new suppliers but much seems familiar. The new chain has dropped the "bucks" from the name. It has also adjusted the logo to show a woman wearing traditional Russian headgear. Pinsky said, [...]
