THE UK economy is expected to shrink between July and September which could tip the nation into a recession, according to the S&P Global/CIPS UK Purchasing Managers’ Index (PMI) report which has seen interest rates rise and household spending decrease.

“I’m worried about AI, but simply must have it!” is the mantra of the day, as survey after survey reveals organizations rushing to install the technology at the heart of the enterprise while expressing their fear of doing so.

Some 63% of financial service bosses have revealed their AI concerns. Specifically, they believe that not enough is being done to prepare the sector for the “unintended consequences of artificial intelligence.