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A new report tells the government how it can 'supercharge' AI in the UK

The UK is well placed to become a world leader in the field of artificial intelligence (AI), according to a government-commissioned report published on Sunday.

The 78-page report contains 18 proposals for how the UK government can work with industry to stay ahead of the competition and grow the UK's use of AI.

Proposals in the "Growing the Artificial Intelligence Industry in the UK" report include:

boosting the number of people with AI skills by introducing an industry-funded masters degree programme and other conversion courses. helping businesses to understand how AI can boost their productivity and allow them to make better products and services. ensuring that people and organisations can rest-assured that there data is safe and secure. The report also suggests that data should be made available to more organisations. making the Alan Turing Institute a national institute for AI.

The electricity required for a single bitcoin trade could power a house for a whole month

LONDON — Bitcoin transactions use so much energy that the electricity used for a single trade could power a home for almost a whole month, according to a paper from Dutch bank ING.

Bitcoin trades use a lot of electricity as a means to make verifying trades expensive, therefore making fraudulent transactions costly and deterring those who would seek to misuse the currency.

"By making sure that verifying transactions is a costly business, the integrity of the network can be preserved as long as benevolent nodes control a majority of computing power," wrote ING senior economist Teunis Brosens.

"Together, they will dominate the verification (mining) process. To make the verification (mining) costly, the verification algorithm requires a lot of processing power and thus electricity."


How 2 former college roommates are helping people to get cheap lunches with their MealPal app

MealPal, a lunch ordering app founded by Mary Biggins and Katie Ghelli, is preparing to expand into new markets after raising an additional $20 million (£15 million) from investors last month.

Biggins and Ghelli — who met and became roommates at Colby College in Maine around 15 years ago —launched MealPal in New York City last year.

It has since been expanded to other densely populated cities in the UK (London and Manchester), Australia (Sydney and Melbourne), and France (Paris).

Some 3 million lunches have been ordered on MealPal in total, Biggins told Business Insider last week in London, where the company has teamed up with over 100 restaurants. But MealPal doesn't intend to stop there.

'We look at what is the tallest building in the market.'

European online lending startup wants to raise $100 million to crack Latin America and the US

LONDON — Online lending business ID Finance plans to boost its borrowing over the next year to fund expansion in Latin America and the US.

Cofounder and CEO Boris Batin told Business Insider at the LendIt Europe conference in London on Monday that ID Finance hopes to raise around $100 million (£76.1 million) through a series of bond issuances over the next year.

"We are somewhat underleveraged compared to other lending businesses," he said.

ID Finance has already submitted the paperwork for a bond issue in Batin's native Russia that should take place in November. ID Finance hopes to raise as much as $20 million (£15.2 million) from that issuance, with more international bonds planned over the next 12 months.


Zopa is in 'close communication with Monzo, Starling, Tandem' as it builds its new bank

Peer-to-peer lender Zopa announced plans to launch digital bank last November. "We are actually pretty close to finishing all of the composite parts of the technology," CEO tells BI. Zopa in close contact with likes of Monzo and Starling, CEO says it is "always raising money."

LONDON — Online lender Zopa is close to finishing building the tech it needs to launch a full bank, according to its CEO.

Jaidev Janardana told Business Insider: "In terms of building, we are actually pretty close to finishing all of the composite parts of the technology build and we are now starting to put them together.

"We have a deposit engine that does the interest rate calculations and so on and so forth, now it's being integrated with our KYC/AML part of the technology stack. We feel we'll be in a good place to start end-to-end testing at the beginning of next year."


This titanium iPhone case costs $1,345 — more than the most expensive iPhone it could possibly protect (AAPL)

iPhones are more expensive than ever, but there's a subset of users who want even more luxury, and for whom cost isn't an factor.

Those people should check out the Advent Collection iPhone case from Gray, a Singapore-based luxury brand. To our knowledge, it's the only iPhone case with a price tag that significantly exceeds the cost of the phone itself. 

In fact, an Advent Collection case will run you a cool $1,345.

What makes it so expensive? 

Gray says the case starts as a solid block of titanium that gets machined down into a case. Then, it's treated to give it a rainbow glow. Finally, the cases are individually numbered, like prints of art. 


Turo, the Airbnb for cars, offered a couple $500 to list their Tesla Model 3 on the app (TSLA)

A California couple is bound to make a pretty penny on their Model 3.

Car-sharing service Turo has offered Chad and Min Hurin $500 to list their Tesla Model 3 on the app. The Hurins, both 27, are scheduled to get the sedan in December and plan on renting it out shortly thereafter.

Turo is essentially the Airbnb for cars, allowing owners to rent out their luxury vehicles when they're not in use. The Hurins have successfully used Turo to pay off the monthly loans for their Model S and Model X vehicles.


Fintech startup Revolut has 16,000 business accounts 4 months after launching the feaure

Foreign exchange startup Revolut has 16,000 business customers four months after launch. Signing up 3,000 to 3,500 new retail customers each day. Plans to launch in the US, Australia, Canada, Singapore, and Hong Kong in the first quarter of 2018.

LONDON — Foreign exchange startup Revolut is expanding rapidly, signing up 16,000 companies to its business accounts in just four months.

CEO Nikolay Storonsky disclosed the figure during a presentation at the LendIt Europe conference in London on Tuesday. Storonsky said Revolut is signing up 40 to 50 new businesses a day and hopes to scale that sign-up rate to 100 business a day. The two-year-old startup launched business accounts in June.


Apple CEO Tim Cook reflects on the lesson from Steve Jobs' biggest flop: 'Be intellectually honest — and have the courage to change' (AAPL)

Back in 2000, Apple released the Power Mac G4 Cube, a funky small PC designed by Jony Ive himself. It was a good-looking piece of hardware, but it flopped so hard that Apple discontinued it after a year. 

In a talk at Oxford, Apple CEO Tim Cook reflected on the "spectacular failure commercially" of the Cube, and what he learned from his mentor Steve Jobs about failure amid the whole experience. 

“It was a very important product for us, we put a lot of love into it, we put enormous engineering into it," Cook said of the G4 Cube on stage. He calls it an "engineering marvel." At the time, Cook was Apple Senior VP of Worldwide Operations, recruited personally by then-CEO Steve Jobs.


Microsoft employees will now be able to work from a tree house (MSFT)

In the latest edition of crazy perks tech companies give their employees, Microsoft is building tree houses for its employees.

One tree house, nestled in the bows of a Pacific Northwest Douglas Fir on the company's Redmond, Washington, campus, serves a meeting room. It features a round skylight that lets in "just a bubble of blue" and is more "Hobbit than HQ" according to a post on a Microsoft Blog.

There are three treehouse in total — two that already open and one, a sheltered lounge space, that will open later this year. Open to all employees, they were built by Pete Nelson of the TV show "Treehouse Masters" who Microsoft said began the project by "connecting with the trees for hours."