NEWS
Research reveals European financial services CEOs embrace AI but wary of unknown consequences
in harmful ways , such as by creating deep fakes or disseminating disinformation , and 52 % believe a stronger focus is required on the ethical implications of AI and how it could impact key areas , such as privacy .
CEOs across Europe ’ s financial services sector are embracing opportunities created by Artificial Intelligence ( AI ), yet nearly two-thirds ( 63 %) remain wary of unintended consequences , according to the latest EY CEO Outlook Pulse Survey .
The July 2023 edition of the pulse survey – which canvassed the views of 96 European financial services CEOs on their strategic plans , headline concerns and investment intentions – found that while leaders embrace the potential advantages that AI can bring to businesses and society , they are concerned about the potential risks of the emerging Generative AI capabilities .
Over half ( 55 %) of respondents said that more needs to be done to mitigate against AI ‘ bad actors ’ who could use the technology
Despite concerns , European financial services CEOs are adapting their investment strategies to maximise the benefits that AI could bring to their businesses . Almost all CEOs surveyed ( 94 %) are integrating AI into their capital allocation , with half ( 51 %) of respondents actively investing in the technology and 43 % planning to make significant investments in AI in the next 12 months .
More than half ( 57 %) of respondents expect the impact of AI in the workforce to be counterbalanced by new roles and career opportunities that the technology creates . This shows that leaders believe AI will augment human potential , rather than replace it , by bringing exponential value to current processes and capabilities .
FTC Solar announces 300MW tracker agreement in Spain and Italy to include utility-scale agrivoltaic projects
FTC Solar , a leading provider of solar tracker systems , software and engineering services , has announced that it has been selected by European renewables developer , Five-E , to supply at least 300MW of its solar tracker technology for multiple project sites in Italy and Spain . Five-E is expected to utilise FTC ’ s Voyager tracker for most projects .
“ We are very pleased to be selected by Five-E for this portfolio of European projects , which includes multiple utilityscale agrivoltaic projects ,” said Patrick Cook , Chief Commercial Officer . “ Our trackers are always designed to offer benefits such as fast assembly , reduced part count and high slope tolerance . For agrivoltaic projects , the high energy density and significantly reduced foundation count of our Voyager tracker , relative to competing products and higher ground clearance , makes Voyager the optimal solution . We couldn ’ t be happier to see more customers in more countries realise these benefits .
Iñigo Asensio , Founder and CEO of Five-E , said , “ We ’ re pleased to sign this partnership agreement with FTC Solar . With compelling solutions and an offering that spans 1P and 2P trackers , software and engineering services , FTC can meet us where we need to be to optimise each project .”
Delivery on these projects is expected to begin in late 2023 and be completed by the end of 2025 .
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