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Edinburgh-based Aveni.ai, specialist in AI for financial services, has been selected by credit reference agency Equifax UK as a strategic AI partner. The Aveni Detect solution has been deployed by Equifax UK, helping to streamline quality assurance processes and reduce the amount of manual checking

Edinburgh-based consultancy Optima Partners – which helps businesses solve challenges by integrating AI, machine learning, and GenAI – has announced a record year of expansion, achieving 40% turnover growth in FY24. This hypergrowth, as defined by the World Economic Forum, puts the firm

Edinburgh's Smart Data Foundry has renewed its long-standing collaboration between its synthetic data engine, Aizle, and the Financial Conduct Authority (FCA). The new collaborative agreement, which will run until September 2025, will expand the FCA’s data capabilities, with access to more syn

With the largest generational transfer of wealth expected to take place in the UK by 2050, financial advice firms have the opportunity to start capturing a significant market of those currently not using an adviser with bespoke AI tools, according to Edinburgh-based AI fintech Aveni. A new survey by

Supermarket chain Aldi is piloting a new £10 pre-payment system at its checkout-free Shop & Go store in Greenwich, London.

Glasgow-based AI chatbot and messaging technology company Konversable has raised £300,000 following a successful funding round. The round attracted investment from a broad range of UK and global high net worth business angels, with support provided by commercial law firm Davidson Chalmers Stew

Egg producer Farmlay has hatched a plan to almost double productivity for 2025 with a £2.4 million investment in a state-of-the-art grader.  AI-based computer vision technology is at the heart of the new grading equipment that will be rolled out at Farmlay, Scotland’s second biggest

Artificial intelligence developers have made a breakthrough which could save taxpayers and industry billions of pounds through more efficient removal of oil and gas infrastructure.

The Financial Reporting Council (FRC) has updated its guidance for actuaries using artificial intelligence and machine learning (AI/ML). The revised guidance helps actuaries apply the principles of Technical Actuarial Standard 100 (TAS 100) when using these techniques, ensuring the continued product

UK chief executives see implementing generative AI (GenAI) as an opportunity to change the nature of work and create highly skilled workforces without reducing the number of jobs in the market, according to KPMG. In its 10th annual CEO Outlook survey, KPMG spoke to more than 1,300 CEOs around the wo

A man has been accused of using generative AI to fraudulently obtain more than $10 million (c. £7.6m) in royalties from music streaming services using fake music and fake listeners. New York man Michael Smith, 52, was arrested by the FBI last week in connection with the alleged fraud, which in

The UK has signed the first-ever international legally binding treaty aimed at ensuring that the use of AI systems is fully consistent with human rights, democracy and the rule of law. The Council of Europe Framework Convention on artificial intelligence and human rights, democracy, and the rule of

Edinburgh-based AI fintech firm Aveni.ai has secured £11 million in Series A funding. The funding round was led by Puma Private Equity with participation from Lloyds Banking Group, Nationwide and existing investors Par Equity and Scottish Enterprise.

A recent survey of nearly 100 Scottish finance leaders has revealed a sector poised for AI-driven transformation.

Edinburgh-based AI legal assistant platform Wordsmith has received $5 million (around £3.94m) in seed funding. The company's platform aims to enhance lawyers' productivity, allowing them to focus on higher-value work. By automating routine tasks, the platform claims customers get 90% of the th