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Resources

Artificial Intelligence and Machine Learning – in your business.

Resources

Artificial Intelligence and Machine Learning – in your business.

This page was last updated on March 15, 2019

Artificial Intelligence (AI) is being likened to a “Fourth Industrial Revolution” because of its potential for creating profound change in people’s lives, much as the invention of steam engines (First Industrial Revolution), electricity and mass production (Second Industrial Revolution), and the rise of the digital age (Third Industrial Revolution) did in the past.

Not all things we accept are AI really are – some are simply software with an algorithm that responds based on predefined input or user behaviour, albeit with extensive behavioural algorithms that make them more useful. A true AI system can learn on its own – typically improving on past iterations, becoming more aware and smarter.

AI and machine learning applications are everywhere and we use them all the time as individuals without always recognising them. Reflecting on how we are current use AI is a good starting point for thinking about whether and how it might be appropriate to use it in our businesses.

How we use AI

1. At home

2. Cameras

3. Email Communications

4. Social Media

5. Web searches

6. Online shopping and self service shops

7. Banking

8. Travel

9. Translation Services

10. Medical diagnosis

Use of AI in business

AI Trivia

Current Issues

Changes for research and development tax breaks. Colourful digital lightbulb with connecting lines and dots

Changes for research and development tax breaks

A brief breakdown of what to be aware of given the changes to research and development (R&D) tax relief.
Tax implications of letting your home - bed with a warm lit lamp next to it

Tax implications of letting out your home through Airbnb

A handy overview of the tax consequences of letting out part or all of your property through sites like Airbnb and SpareRoom

An Introduction to EMI and PSR Safeguarding Audits

In this article we explain why eMoney Institutions (EMI) and the Payment Service Regulations (PSR) require safeguarding audits to be conducted, and what is involved.