Monday, June 24, 2024
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Home » London Based AI Unicorn Announces £125m Investment and Over 170 New Jobs

London Based AI Unicorn Announces £125m Investment and Over 170 New Jobs

by Bailey Thomson
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Quantexa, a global specialist in Decision Intelligence (DI) solutions for the public and private sectors, announced today that it will invest an additional £125m in the global artificial intelligence (AI) industry over the next three years to help clients advance the use of AI to protect, optimise, and grow their organisations.

By 2027, Quantexa’s total global investment in AI will reach more than £200m. The investment marks Quantexa’s continued advancements in AI with the preview of its Generative AI technology, Q Assist.

Quantexa also furthered its commitment to advancing the company’s existing AI Stack to enable its growing global ecosystem of clients and partners to unlock new industry-specific use cases for financial services, insurance, telecommunications, healthcare, and in the public sector.

Quantexa’s Decision Intelligence platform and suite of solutions for data management, customer intelligence, KYC, risk, fraud, and financial crime have been deployed in over 70 countries. Analysis from University of Washington suggests this investment will boost the global AI industry by £600m as the multiplier effect is realised.

AI Throughout Quantexa’s Decision Intelligence Platform Delivers Business Value Enterprises and government agencies are using Quantexa’s Decision Intelligence to become more effective and efficient at organising siloed, messy data to obtain 360-degree views of customers and suppliers to identify fraud, qualify eligibility for services and more.

Rishi Sunak, Prime Minister of the United Kingdom, commented: “We want to ensure the UK remains the best place in the world to build, test, and use safe AI technology. Quantexa’s new £85m London AI Innovation Centre will help cement this reality.

“It will create over 170 jobs, harness the extraordinary potential of AI as we grow our economy, and lead the way on responsible AI development around the world.”

Vishal Marria, CEO and founder, Quantexa, added: “While many companies are talking about AI and machine learning, we have been investing in it since our inception. We are investing our time, money, and resources into the biggest technological breakthrough for generations as it will transform how organisations make decisions.

“We’re proud to invest in London-based innovation but the impact will be felt by the global economy and will start a ripple effect that will unlock decision intelligence capabilities for our clients and their respective industries.” 

Technology Secretary Chloe Smith said: “Quantexa’s investment is a huge vote of confidence in those plans and will unlock new opportunities for growth and job creation, enabling us to continue to pave the way as a global leader in the development of AI.”

Source : BDailyNews

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