Season 1, Episode 3: Spring budget to feature Investment in AI research and development.
In the latest instalment of the Automated Analytics podcast, host Katie Blake and CEO Mark Taylor delve into the recent announcement from Chancellor Jeremy Hunt’s spring budget, which heralds a significant focus on Artificial Intelligence (AI).
This announcement underscores the UK government’s commitment to provide and improve the relationship between businesses and AI systems to enhance productivity in the workplace.
Building Trust in AI
The uncertainty and distrust surrounding AI integration in businesses have been an issue. This episode aims to instil a sense of confidence in the reliability and efficacy of AI tools. With the UK lagging 17% behind G7 countries in AI adoption, there is a pressing need to bolster trust and encourage widespread utilisation of these technologies among enterprises.
Understanding AI
Taylor elaborates on the two primary categories of AI: Supervised AI and Generative AI. Supervised AI offers businesses a more accurate assessment by combining AI monitoring with human oversight, Generative AI attempts to mimic human actions automatically. However, in its early stages, Generative AI currently exhibits lower accuracy rates.
Boosting Productivity
The feedback from using Automated Analytics recruitment software has given the Doncaster-based company positive feedback. Rather than witnessing a decline in business performance, clients report notable boosts in productivity.
AI in the Public Sector
The government’s commitment to inject £7 million into small and medium-sized enterprises (SMEs) signifies a concerted effort to optimise efficiency within organisations like the Doncaster Chamber of Commerce. This investment aims to empower local businesses, enabling an environment for encouraging growth and innovation.
AI Advancements in Healthcare
The introduction of AI technologies in the NHS marks a significant stride in enhancing patient care and reducing waiting times. From leveraging AI bots for appointment scheduling to analysing data for improved service delivery, AI promises transformative outcomes in healthcare.
AI’s Impact on the Private Sector
Taylor highlights the success of the Automated Analytics AI system, TalentTrack, in the recruitment sector. By facilitating efficiency gains while adverting redundancies, AI adoption streamlines operations and fuels workforce expansion.
Advocating for AI Integration
Taylor continues to emphasise the importance of creating an environment that nurtures AI adoption within businesses. Engaging with entities like the NHS to leverage AI capabilities for call analysis underscores the potential of AI in revolutionising diverse sectors.
Fostering Trust in AI
As legislative frameworks evolve to accommodate AI integration, Taylor anticipates a surge in trust between businesses and AI technologies. By addressing regulatory concerns and promoting transparency, businesses can become more confident in using AI and unlocking its full potential.
In conclusion, the spring budget emphasis on AI investment signifies a pivotal moment in the UK technological landscape, with AI poised to drive innovation and productivity across industries. Through collaborative efforts and strategic investment, the UK stands poised to emerge as a global leader in AI research and development.
Where can you watch the episode:
You can watch the podcast at: https://www.youtube.com/@AutomatedAnalyticsPodcast
Where can you listen to the episode:
You can listen to the podcast at: https://podcast.automatedanalytics.co
