Innovate UK grants €1.1M to London’s Stratiphy to accelerate trustworthy AI solutions in finance
Summary
London-based Stratiphy, a company which builds technology for creating personalised investment plans, announced the consortium it leads, has been awarded a \xa31M (approximately 1.16M) grant from Innovate UK.This will help the consortium, led by Stratiphy, speed up the development and use of reliable AI solutions in the financial services industry.Innovate UK, a part of UK Research and Innovation (UKRI), plans to invest up to \xa321M in innovation projects over the next 10 years.They chose the consortium because its committed to encouraging the use of reliable AI in financial analytics. This commitment includes working to remove obstacles in developing and using AI, which matches closely with Innovate UK and UKRIs mission.Stratiphy will use the funds to make its personal investment management solution better by incorporating AI technology within it.Since Stratiphy is leading the consortium, it will also hire more AI experts to focus on this to help grab new opportunities that come with the technology.Brief about the consortiumThe consortium, with both academic and business partners, wants to make new and useful solutions for the market. Theyre focusing on fixing big problems in how investments are managed.They have experts like Dr. John Cartlidge at the University of Bristol, who knows a lot about Financial Informatics and Data Science, and Prof. Karen Elliott at the University of Birmingham, who has expertise in trustworthy applications of AI.The consortium has many different partners, like universities and businesses, including: University of Bristol: Providing expertise in AI and financial modellingDaniel Gold, CEO and Founder of Stratiphy says, We are thrilled to lead this consortium to deliver innovative AI technologies that offer high-value financial solutions.We have been joined by companies that are not only business leaders in their respective fields of wealth planning, pensions and structured credit, but also want to be at the cutting edge of innovation.By combining this commercial acumen with the deep expertise of our academic partners we aim to achieve important breakthroughs, adds Gold.Professional investors know the importance of thorough analysis before investing, and you should too. Its strategies and analytics serve as a reliable foundation for making investment choices.The companys latest development follows its recent approval from the FCA. Regular investors can use advanced investment methods that were only for big hedge funds and banks before.
Funding
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