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BBCNEWS World July 5, 2024

one weekend in march, and now we ll see two cultures colliding. there are likely to be manyjob losses, staff will be bracing for those. however, as you say, the boss of ubs has said, look, we have a lot of opportunities here as well, and of course it does mean that ubs is able to access key markets in wealth management that it would have taken years to do had it not taken over credit suisse. and of course the deal reached with the swiss government effectively for the government to back around $10 billion of losses that it could see when it sells of chunks of credit suisse s business, will have helped sweeten this deal. it is going to have a fight on its hand but arguably, credit suisse s footprint does mean that that is probably going to be easier to at leastjoin the fight now that it has all of these assets under management and of course, has already established partnerships around the world. so certainly that will be the ambition. it s a big ambition. i don t think ne ....

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BBCNEWS World Business Report June 4, 2024 10:37:00

Said he had earned it. 0ur huge appetite for renewable energy has set off a new race this time for raw metals like nickel and cobalt. you can either dig them out of the ground or in theory pick them off the ocean floor. but as michelle fleury has been finding out, sea bed mining might be more complex than it seems. this robot was designed to collect rare metals from the ocean floor, like nickel and cobalt, via a process they call selective harvesting. using artificial intelligence and sensors, it is able to recognise the valuable metals while leaving important marine ecosystems intact. we are really focused on preserving the habitat. 0liver gunasekara brought us to this bay in ontario, canada. we are really trying to invent a different way of deep sea mining. when i saw what was being done, and the fact there was really no innovation for 50 years, ....

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BBCNEWS World Business Report June 4, 2024 10:38:00

The same architecture that was tested, it was like why are we not using robotics, why are we not using ai? the decision about whether to allow deep sea mining will be taken this july by a un body that controls exploitation of the sea bed. so this machine has been designed to mine the ocean floor without, in theory, causing too much damage. the concept here is to try and find a greener alternative to dredging technology. the eyes of the cameras are at the front, that helps us see where we are going and helps us see what we want to pick up. the claw, which is what selectively picks up the nodules, and then once those nodules have been picked up, they are sitting on the vehicle and we offset the weight of the system with the buoyancy engine, that s what keeps us hovering over the sea bed. and the target deep down at the bottom of the ocean lie incredible reserves of the metal is needed for electronics and renewable energy. in the clarion clipperton zone ....

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BBCNEWS World Business Report June 4, 2024 10:32:00

Has already established partnerships around the world. so certainly that will be the ambition. it s a big ambition. i don t think necessarily we re going to see a smooth ride ahead, i think it s going to be pretty bumpy, but certainly the management are putting a very optimistic light on progress today. today marks the start of london tech week, where ai is high on their agenda. the uk capital has attracted more new international tech companies than any other global city in the past decade. speaking at the event earlier today, the uk prime minister, rishi sunak, said he felt a real sense of urgency about harnessing the power of ai. we are an island of innovation but at a moment like this, when the tectonic plates of technology are shifting, notjust in al but in quantum, synthetic biology, semiconductors and much more, we cannot rest satisfied with where we stand. ....

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BBCNEWS World Business Report June 4, 2024 10:35:00

To be regulated but if you regulate too tightly it could stifle innovation. too tightly it could stifle innovation. . , , ., ., innovation. the chatgpt phenomenon around generative innovation. the chatgpt phenomenon around generative ai innovation. the chatgpt phenomenon around generative ai makes innovation. the chatgpt phenomenon around generative ai makes lots - innovation. the chatgpt phenomenon around generative ai makes lots of i around generative ai makes lots of the market think we are at the dawn of the potential of ai but it dates back to the 1950s in terms of the original research. lots of the regulation, ethics and legislation that will follow i think is well thought through. there is a unesco standard currently being negotiated at 193 different companies have signed up to. we must make sure we put the guard rails in the right place but understand ai from a growth potential perspective. i would certainly be an advocate of regulation but regulation really genuinely un ....

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