The Data Digest #3: All Things AI

The cogs of the data world are perpetually turning. Data never sleeps. Brace yourself for an exciting overview of some of the recent top data news stories gracing our screens in the past few months.

1)????? Lloyds Banking Group's Appointment of AI Chief

In August 2024, Lloyds Banking Group appointed Rohit Dhawan, formerly of Amazon Web Services, as its first Group Director of AI and Advanced Analytics. Dhawan is leading the integration of AI into Lloyds' customer and operational processes, establishing a new data and AI function, including an AI Centre of Excellence. This move underscores Lloyds' commitment to leveraging AI for productivity gains and cost reductions.

2)????? UK Government's AI Growth Plan

The UK government has introduced an AI growth plan to establish the country as an AI superpower. The plan focuses on training the workforce, increasing the number of AI graduates, and enhancing technology infrastructure. It also emphasises the importance of appropriately valuing tech businesses and addressing senior-level talent shortages to foster an environment conducive to AI development.

3)????? Quantexa’s AI-Driven Data Connection for Fraud Prevention

Quantexa, a UK-based AI firm, has developed technology that connects disparate data sources to provide comprehensive views for fraud prevention and customer service improvements. Achieving "unicorn" status in 2021, Quantexa's solutions have been instrumental in helping organisations detect and prevent complex fraud schemes by analysing vast amounts of data to uncover hidden relationships and patterns.

4)????? Synthesia's AI-Generated Video Avatars

Synthesia, a London-based AI start-up, has developed technology that creates realistic video avatars for corporate communications using proprietary AI models. In a recent funding round, the company achieved a valuation of $2.1 billion, reflecting significant investor confidence in its innovative approach to content creation.