AI News — Page 34
The latest AI developments shaping UK business and technology
ECB warns private-credit-fuelled AI boom poses risk to financial system
European Central Bank stress scenario projects 5–6% asset losses for Eurozone pension funds in an AI-driven private-credit shock, with insurers and banks also exposed.
Pinsent Masons reprimanded by High Court over AI-generated false citations
Judge Mullen criticised the top-20 UK firm for citing a fabricated statute; Pinsent Masons has self-referred to the SRA. The third such public reprimand in months.
Uber president says AI spend is 'getting harder to justify' as token-versus-headcount maths bites
Andrew Macdonald says Uber cannot yet draw a direct line between rising Claude Code token use and shipped consumer features, after exhausting its annual AI budget by April.
Altman walks back AI 'jobs apocalypse' warning, says white-collar displacement under-delivered
OpenAI CEO told a Sydney audience he was 'pretty wrong' on AI's social and economic impact and now sees human interaction as a meaningful barrier to job replacement.
Octopus Legacy buys 50-strong NewLaw private-client team to scale AI-assisted probate
Octopus Group's bereavement arm targets tenfold growth in probate work within 12 months by using AI for admin and keeping humans on family-facing support.
Police watchdog flags surge in AI-assisted complaints with invented laws
The IOPC says AI-drafted submissions are fuelling a 24% rise in complaint reviews, with some quoting legislation that does not exist in England and Wales.
Mercer: 55% of asset managers now use AI in investment processes
Mercer survey of 131 asset managers shows AI adoption crossed the 50% threshold, but only 8% report measurable investment-return improvements.
Pope Leo's first encyclical urges world to slow AI development
Pope Leo XIV's debut encyclical Magnifica Humanitas calls for binding AI regulation, warns autonomous weapons are slipping beyond human control.
