FTI Consulting News Bytes – 03 November 2023

FTI Consulting News Bytes

In this week’s News Bytes, we kick things off by delving into the UK’s inaugural AI Safety Summit, which has brought together countries from across the globe to discuss the risks posed by increasing advancements in the technology. Elsewhere, it’s been 20 years since Call of Duty was first released, making it one of the longest-running blockbuster gaming franchises of all time. Next, we investigate a survey which found that greater gender equality is needed in the technology sector in light of a growing ‘tech bro’ culture that has made some women question whether they should leave their jobs. We then look at Nokia’s unveiling of its new AI proof of concept, Natural-Language Networks. Finally, we turn to the announcement that Oxford Metrics has entered into an agreement to acquire AI software firm, Industrial Vision System (IVS). 

To learn more about the outcomes from the UK’s AI Safety Summit and next steps towards the safe use of AI, you’re invited to join FTI Consulting as we host a panel and breakfast event with three leading women in the AI field on 14th November, at 8am – 9.30am. To sign up, please click here.

This week’s news

The Bletchley Declaration takes on AI

This week saw the UK host the world’s first AI Safety Summit, drawing in representatives and companies from 28 countries, aiming to develop a unified international strategy for regulating advanced AI technologies, also known as frontier AI. On the opening day of the event, it seems as though that goal was met, with the UK government publishing the landmark ‘Bletchley Declaration’. In a statement, they said the agreement “fulfils key summit objectives in establishing shared agreement and responsibility on the risks, opportunities and a forward process for international collaboration on frontier AI safety and research, particularly through greater scientific collaboration.” Signed by both the US and China, Reuters argued that the agreement encourages transparency and accountability from actors developing frontier AI technology on their plans to measure, monitor and mitigate potentially harmful capabilities.  Despite this, however, a speech by US Vice President Kamala Harris appeared to undermine the Summit’s focus on the existential frontier of AI risks, as she called for a broader definition of AI safety to encompass existing and near-term threats.

Call of Duty turns 20

Call of Duty (CoD), one of the top five most successful gaming franchises of all time, has celebrated its milestone 20th Anniversary just days before the release of the third instalment of its bestselling Modern Warfare series. Since its launch in 2003, the Activision-owned franchise has made an estimated $30 billion, $3bn of this being generated in the last year alone. It pulls in 250 million players worldwide, with a million of these playing nothing but CoD. Described by many as a “cultural phenomenon”, Call of Duty has become more than just a game, according to Sky News. It is a social connector, bringing together gamers from all communities and creating a safe space for players to socialise. Following on from its historic $69 billion merger with Microsoft, the sky is but the limit for the game that has already taken the world by storm.

More work is needed for gender equality in the tech sector

A survey conducted by the Fawcett Society, the UK’s leading charity campaigning for gender equality and women’s rights, and telecoms firm Virgin Media O2, revealed that nearly one in five men in tech roles think women are “less suited” to working in the sector. According to The Times, the ‘tech bro’ culture has pushed more than 40% of women to consider leaving their roles at least once a week. The survey also went on to detail how 72% of women have experienced “at least one form of sexism at work” and that number “only increases” when surveying women of colour. Among male tech workers, 42% said the sector would “not benefit” from a balance in the gender workforce, with a similar proportion saying women working in tech would not reduce bias in products and services.

Nokia unveils AI breakthrough

Nokia Bell Labs showcased an AI proof of concept called Natural-Language Networks on Wednesday, which they are calling an “industry-first research breakthrough” that will allow networks to be operated via speech or text prompts. Telecoms.com reports that the Natural-Language Networks could “eliminate the complexity of managing networks whilst also enabling much more responsiveness to end user’s needs.” Telecoms.com also reiterated that whilst this is a proof of concept, “it certainly sounds ambitious in scope.” Elsewhere, Nokia also published an update on its Technology Strategy 2030 this week, which identified the emerging trends that will shape technology, networks and the world. As part of its strategy, it launched the Global Network Traffic report, which shows that network traffic is growing and will rise dramatically during this decade, according to Light Reading.   

The name of the (AI) game: Oxford Metrics acquires IVS

Oxford Metrics, whose technology was used to create the holograms for ABBA Voyage, this week announced it has entered into a £8.1 million acquisition agreement to acquire AI software company Industrial Vision System (IVS). CityAM reported that the group will use the move to further expand on already in-use technology to offer more worldwide. IVS replaces traditional inspection methods with smart sensing which promises faster and more reliable results. 

Top Tweets of the Week

• BBC: AI named word of the year by Collins Dictionary. https://t.co/YAbsyEACkl 
• Oscar Hornstein, Technology Editor at UKTN: The first day of the #AISafetySummit is around halfway done and it’s worth noting, as has been mentioned by others that the top discussions have been far from open. Press access has been very limited and most debates have occurred behind closed doors.
• Mark Kleinman, Sky News City Editor: Exclusive: Tremor International, the publicly traded advertising technology company, is exploring the potential cancellation of its London listing in favour of the New York stock market – the latest indication of a growing exodus from the City. https://t.co/JjKEhWn8yT

Number of the Week

$8.6bn – Disney’s offer for the remaining stake in Hulu, which would value the company at $27.5bn, according to the Financial Times.