“…UK authorities believe improving efficiency across national finance operations requires applying AI platforms from vendors like Palantir. The country’s financial regulator, the FCA, has initiated a project leveraging AI to identify illicit activities.
The FCA is currently testing the Foundry platform from Miami-based software vendor Palantir. This three-month pilot costs upwards of £30,000 per week and focuses on mining the regulator’s internal data lake. The objective centres on detecting money laundering, insider trading, and fraud across the 42,000 financial services businesses under the FCA’s supervision…”