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Barclays is broadening its AI push Major UK bank Barclays is broadening the ways it uses AI after becoming a "flagship customer" of AI company Simudyne Technology.
Simudyne is focused on using AI to create models of various situations a bank could be put in, including models that account for human mistakes and run simulations, as a means of lowering risk and reducing error.
The bank is looking to leverage the technology in its trading, lending, and risk management divisions.
For context, Barclays has been working with Simudyne since May 2017, when the two signed a collaboration deal after Simudyne participated in Barclays' fintech accelerator program.
Business Insider Intelligence's Jaime Toplin has the full story. | |
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| Ford will invest $11 billion in a corporate restructuring to digitally transform itself over the coming decade. Read More → | | | | |
| Flipkart will be shutting down eBay.in, which it acquired in April 2017, and will be creating a new proprietary platform from which to sell refurbished goods. Read More → | | | | |
| Apple is testing several updates to the software for its HomePod smart speaker that would add key functionality for users. Read More → | | | | |
| Google parent Alphabet's Q2 2018 earnings reached $32 billion, a 25% year-over-year (YoY) increase from $26 billion in Q2 2017. Read More → | | | | |
| Pinterest is reportedly close to hitting $1 billion in ad revenues, up from $500 million in 2017, and the company is reportedly planning a mid-2019 IPO. Read More → | | | | |
| UK-based provider of mobile-only current accounts Monese has signed up 500,000 users since its launch in 2015. Read More → | | | | |
| The digital freight marketplace operated by the US ride-hailing giant, updated its core mobile application late last week to make it easier for carriers to find and move refrigerated freight. Read More → | | | | |
| YouTube CEO Susan Wojcicki on Friday penned a blog post that explained the company's top priorities for better supporting the platform's creators. Read More → | | | | |
| Walmart has moved to increase the appeal of its website through the addition of influencer content. Read More → | | | | |
| Advertisers are still willing to pay higher prices for ads on traditional TV, despite continually shrinking viewership. Read More → | | | | |
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