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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

Accountancy body ACCA has urged CEOs and CFOs to build trust in artificial intelligence (AI) by taking steps in their organisations to manage the associated risks. As AI plays a greater role in the accounting and financial reporting of businesses, CFOs and financial controllers will have to be confi

Nearly a third (29%) of senior leaders in the financial services sector in Scotland use generative AI at least once a day at work, according to new research from KPMG UK.

In a bold move set to redefine the landscape of Scotland's property industry, Angela Wallace, the centre and operations manager at Tayside Property Solicitors Centre (TSPC), anticipates a pivotal role for AI in house sales throughout 2024. A digitised strategy, known as proptech, embraces the use of

Big Four accountancy giant PwC has set out plans to develop a new platform introducing generative AI technology to the M&A process. PwC is working with AI start-up Harvey on the technology, which will make "AI-customised models trained on the essence of deal-making" available to PwC's deals prac

Clydesdale Bank-owner Virgin Money, headquartered in Glasgow, has revealed a strategic investment of £130 million in artificial intelligence (AI) and new technologies aimed at bolstering its defences against cybercrime and securing the future of the business.

Professor Daniel Katz, a US technologist and lecturer at Illinois Tech – Chicago Kent College of Law, will address a CMS event next week focused on developments in AI and its impact on commercial contract lawyers. Commercial Contracts and AI: Grasping the Opportunities is an online event

ACCA (the Association of Chartered Certified Accountants) has urged the UK government to put ethics, transparency and governance at the heart of its AI (artificial intelligence) policy.

PwC UK has posted its financial performance for the last fiscal year, showing a rise in consolidated revenue by 16% to £5.8 billion. In line with their commitment to emerging technology, the company has decided to invest an additional £100 million in state-of-the-art technologies like AI

Fuelled by the AI boom, Nvidia is experiencing a staggering estimated profit of 1,000% on the sale of each H100 GPU, with a street-price between $25,000 and $30,000 (around £19,600 to £23,500).