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A judge has criticised a taxpayer for using an artificial intelligence chatbot to argue his case in court after it "hallucinated" non-existent legal precedents. Marc Gunnarsson used AI to help prepare his legal submissions when appealing a decision by HM Revenue and Customs (HMRC). The tax authority

HM Revenue and Customs (HMRC) has confirmed it uses artificial intelligence to analyse taxpayers' social media posts as part of criminal investigations into tax evasion.

Hywel Ball, the former UK head of EY, has warned that the Big Four professional services firms face significant challenges in adopting artificial intelligence due to their sheer size. Announcing his new board roles at two AI-focused boutiques, Mr Ball argued that smaller, more nimble start-ups have

Professional services advisory firm Hutcheon Mearns has launched a new artificial intelligence (AI) consultancy service and product offering, following the integration of specialist firm Rock River Research. The move, which coincides with the firm's 10th year of operation, signals another step chang

Businesses that undertake effective assessments of their artificial intelligence (AI) systems can better harness the technology’s potential to boost innovation, productivity, and growth, according to a policy paper published by ACCA (the Association of Chartered Certified Accountants) and EY.

NatWest Group has announced a new, five-year collaboration with Amazon Web Services (AWS) and Accenture to transform the way it serves its customers by accelerating the modernisation of its digital, data and analytics, and AI capabilities. The collaboration will enable NatWest to provide more intuit

Edinburgh-headquartered Aveni.ai, specialists in AI for financial services, has been selected by Advanta Wealth, a nationwide chartered wealth management business to enhance adviser customer service and reduce administrative time. The business has adopted Aveni Assist across its team of advisers as

Scottish law firms are approaching the adoption of artificial intelligence with a mixture of caution and curiosity, according to a new survey by accountancy firm Henderson Loggie. While most have yet to implement AI, a clear shift is underway as the sector begins to explore its potential.

PwC has reduced prices for some of its offerings after clients pointed to the firm's increasing use of artificial intelligence to deliver work more rapidly. The move highlights a growing pressure on consulting firms to share the financial benefits of AI-driven productivity with their customers.

Edinburgh-headquartered fintech Aveni AI welcomed a group of industry leaders yesterday from the UK’s wealth management and financial planning sector to an exclusive forum, to discuss how artificial intelligence (AI) will transform the future of financial services. Bringing together C-level le

The Financial Reporting Council (FRC) has reported that the UK's largest accounting firms do not formally monitor how artificial intelligence affects the quality of their audits. In a review published on Thursday, the watchdog noted that while the Big Four firms – Deloitte, EY, KPMG, and PwC &

Scotland will be home to the UK's most powerful supercomputer following a government U-turn. Chancellor Rachel Reeves today confirmed £750 million in funding to build the UK’s new national supercomputer at the University of Edinburgh, which she said would strengthen Britain as an AI-make

The Financial Conduct Authority (FCA) will launch a Supercharged Sandbox to help firms experiment safely with AI to support innovation. Through a new collaboration, announced today, firms will have the opportunity to experiment with AI using NVIDIA accelerated computing and NVIDIA AI Enterprise Soft

Major accountancy firms are vying to establish a new generation of audits designed to verify the effectiveness and safety of artificial intelligence systems. Deloitte, EY, and PwC have confirmed they are developing AI assurance services, aiming to leverage their established reputations in financial

Edinburgh-headquartered AI fintech company Aveni has unveiled FinLLM, a large language model (LLM) specifically designed for the UK financial services industry. FinLLM is designed to meet the industry’s stringent requirements for compliance, safety, and performance, setting a new benchmark for