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MS launches ‘AI in Wales’ initiative in collaboration with Deep Knowledge Group

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A GROUNDBREAKING initiative, “AI in Wales,” has been launched by Welsh Parliament Member Tom Giffard in collaboration with the Global AI Industry Ecosystem Association, Deep Knowledge Group. This initiative aims to showcase Wales’ burgeoning artificial intelligence (AI) ecosystem, with a particular focus on healthcare, technology, and economic revitalisation.

The “AI in Wales” platform and report, unveiled on May 29th, 2024, provides a comprehensive overview of the AI landscape in Wales. It includes detailed profiles, mindmaps, and databases of 50 companies, 40 investors, and 5 hubs, highlighting Wales’ unique contributions to the field of AI..

Key Objectives and Vision

Tom Giffard expressed his excitement about the initiative, stating, “I welcome the launch of Deep Knowledge Group’s report into the AI landscape in Wales. The report outlines the potential advantages of AI technology in our Welsh economy and the opportunities a strong AI ecosystem could offer, with encouraging analysis of the current landscape whilst carefully considering future challenges.”

Dmitry Kaminskiy, General Partner of Deep Knowledge Group, also emphasised the significance of this collaboration: “As firm believers in the transformative potential of AI, we are proud to collaborate with Welsh Parliament Member Tom Giffard on the ‘AI in Wales’ initiative. This tie-up underscores our shared vision of harnessing AI technologies to empower communities, drive economic prosperity, and foster sustainable development. Together, we are poised to unlock new opportunities and shape the future of AI in Wales and beyond.”

The Growing AI Ecosystem in Wales

Wales is witnessing significant growth in its AI ecosystem, particularly in the private and public sectors. Key areas of advancement include healthcare and technology, where AI is set to revolutionise various aspects of these fields. The initiative highlights AI’s potential to drive economic revitalisation in Wales, especially in advanced manufacturing, digital health, and fintech sectors.

Strategic Focus Areas

The “AI in Wales” initiative aims to:

  • Catalyse Cross-Sector Collaboration: By fostering partnerships between government, academia, industry, and civil society, the initiative seeks to leverage AI-driven solutions to address societal challenges such as climate change, healthcare disparities, and digital inclusion.
  • Promote Economic Growth: The initiative emphasises the economic benefits of AI, which include enhancing productivity, fostering new business models, and driving sustainable growth.
  • Develop AI Talent and Infrastructure: Investing in AI talent development and infrastructure is critical to positioning Wales as a global hub for technology and innovation.
  • Advance AI Policy and Governance: 2024 marks significant strides in AI policy development, focusing on skills, partnerships, and digital platforms. The Welsh Government’s updated strategies highlight the importance of user-centric digital services and partnership-driven innovation in AI.

Key Takeaways

  • Welsh AI Ecosystem’s Growth: Wales is seeing notable advancements in its AI ecosystem, particularly in healthcare and technology.
  • AI’s Economic Impact: AI offers substantial opportunities for economic revitalisation, aligning with global trends towards digitalisation.
  • Engagement and Education: Targeted awareness and educational programs are essential to demystify AI and demonstrate its practical benefits.
  • Policy and Governance Evolution: The Welsh Government’s strategies emphasise user-centric digital services and partnership-driven innovation.
  • Sector-Specific AI Applications: AI’s potential spans diverse sectors, revolutionising workflows and fostering new business models.
  • Opportunities for Strategic Collaboration: The development of AI in Wales hinges on cooperative efforts across sectors.

As the “AI in Wales” initiative progresses, Deep Knowledge Group and Tom Giffard are committed to engaging with stakeholders across academia, industry, and government. This collaborative effort aims to drive innovation, foster collaboration, and realise the full potential of AI in Wales and beyond.

For more information and updates on the “AI in Wales” initiative, stay tuned to The Pembrokeshire Herald.

Business

Digital Marketing Challenges for Rural Welsh Businesses

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Digital marketing is a must-do for businesses looking to grow, connect with customers, and stay competitive. But for rural Welsh businesses, it’s not always straightforward. Patchy internet, stiff competition from city-based brands, and the struggle to get noticed online mean that rural businesses have to think outside the box to build and maintain a strong digital presence.

Competing with Larger Companies

Smaller rural businesses often struggle to compete with national and international brands that have significantly larger marketing budgets. These larger companies dominate search engine rankings and online advertising, making it difficult for small businesses to get noticed.

To counteract this, many rural Welsh businesses can focus on hyper-local SEO and community-driven digital marketing strategies. By optimising their websites for location-based searches and using Google My Business effectively, they can improve their visibility for customers searching for products and services nearby.

Additionally, following marketing news, engaging with local influencers, using targeted social media advertising, and leveraging user-generated content helps build an authentic online presence that resonates with their audience.

Connectivity Barriers

One of the most significant challenges for rural businesses is poor broadband connectivity. While the Welsh Government has invested in improving digital infrastructure, many areas still struggle with slow or unreliable internet speeds. This can make it difficult to maintain an e-commerce platform, update social media, or engage with customers through digital channels.

To overcome these limitations, some businesses are turning to alternative solutions such as satellite broadband or mobile data hotspots. Providers like Starlink are offering high-speed internet access in remote locations, helping businesses stay connected. 

However, these solutions also come with challenges, including high costs, latency issues, and weather-related disruptions. Mobile hotspots rely on strong network coverage, which can be inconsistent in rural areas. This leaves many businesses back on square one.

Looking Ahead

Rural Welsh businesses are embracing digital innovation to overcome challenges and thrive online. Platforms like Instagram, Facebook, and TikTok have become essential for engaging customers and showcasing products and services, while e-commerce solutions enable them to expand beyond local markets.

Many businesses are also strengthening their online identity by securing .cymru and .wales domains, reinforcing their Welsh credentials and boosting local visibility.

Despite the challenges, rural Welsh businesses are finding clever ways to thrive online. From tapping into alternative internet solutions to fine-tuning their local SEO and embracing digital marketing, they’re making their mark in the digital world. And with broadband infrastructure continuing to improve, the playing field is becoming even for many rural Welsh businesses.

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Business

Has the Welsh economy truly recovered from COVID?

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It’s now been five years since the COVID-19 pandemic began. The pandemic rocked economies all over the country, with lockdowns affecting numerous businesses, both small and large. 

Now that a significant amount of time has passed, has Wales managed to recover economically from damage that the COVID-19 pandemic caused? 

In this article, we’ll explore how Wales was affected by COVID, and whether or not it has seen a recovery now that five years have passed.  

Effects of COVID-19 on Wales 

Industries relying on physical interaction were hit hard

Hotels, public transport, theatres, restaurants, gyms, and any other industry that relied on the public was hit incredibly hard by lockdowns. In fact, across the UK, sales were 50% lower than normal for in-person-reliant industries. 

Everything moved online

When the pandemic hit, people were made to stay at home and almost everything moved online. From education and work to entertainment and socialising, the way we lived our lives fundamentally changed. 

Whilst this did have severe repercussions for some businesses, it had a positive effect on other industries. Online gambling notably benefitted from the pandemic. For example, trusted pay and play casino platforms saw a surge in usership since in-person gambling wasn’t available, and discussions on the Mr. Gamble forum increased, with people replacing in person interactions with online variations. 

Employment rates dropped 

Prior to the pandemic, employment rates in Wales (for those aged 16-64) were around 74%. When the pandemic hit, this dropped to 72%. With plenty of businesses being able to move their endeavours online and allow employees to work from home, employment levels luckily  didn’t drop as significantly as they might have a decade or so ago. 

Has the Welsh economy seen any recovery? 

Since the COVID-19 pandemic, Wales has seen substantial recovery in some areas of the economy. 

GDP

In 2020, Wales’ GDP growth dropped by 10.7%. But, by 2022, it had already seen significant recovery, growing by 3.8%. 

Annual earnings 

Alongside improvement in Wales’ GDP, the median annual earnings for full-time employees in Wales grew significantly from £28,387 in 2020 to £34,303 in 2024. 

Has Wales’ economy fully recovered from COVID?

Despite some recovery, there is still plenty of uncertainty and volatility across Wales. It may be a few years before the Welsh economy is able to fully recover from the effects of the COVID-19 pandemic. 

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Business

Sixth Sense shop in Pembroke Dock set to close

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THE SXITH SENSE shop on Dimond Street, Pembroke Dock, is set to close its doors in the coming weeks, its owners have announced.

Carina and her business partner said the decision was not made lightly but was necessary due to personal circumstances and the changing needs of their families.

“We have honestly loved every second of running the shop,” they said. “We’ve met some incredible people and had a lot of fun through our fright night events and daily interactions. We will absolutely be sad to say goodbye.”

However, Sixth Sense will continue to operate online, with customers still able to order personalised gifts and keepsakes, book one-to-one mediumship and tarot readings, and attend monthly Spiritualist services at Lamphey Village Hall.

A 20% off closing-down sale will be held in-store, with new opening hours of Tuesdays and Thursdays from 10:00am to 3:00pm. Appointments can be made outside these times for those wishing to browse.

The owners have also hinted at a rebrand for their personalised gift and keepsake business, with further details expected in the coming weeks.

“We hope people will come in, take a look around, and make our last few weeks at the shop as enjoyable as they’ve always been,” they said. “Family always comes first, and we can’t thank our customers enough for the love and support they’ve shown us.”

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