FCA awards £1.3m contract to AI company

The Financial Conduct Authority (FCA) has chosen data and AI company Aiimi Insight Engine to deliver its new enterprise search and discovery solution.

The Milton Keynes-based business has won a three-year £1.3 million contract with the UK financial regulator following an extensive evaluation process and an eight-week Alpha testing phase.

The new platform aims to help the FCA workforce gain greater insights from its diverse datasets. By interconnecting valuable information spread across different systems, FCA users will now be able to conduct context searches across assorted data formats held in diverse locations, both internally and externally.

Search results can then be visualised by data and non-data specialists to support collaboration among colleagues and teams within the FCA.

“Organisations are looking for new, better ways to become data driven and take control of their information,” said Steve Salvin, chief executive, Aiimi. “Insight engines offer a powerful solution to the challenge of discovering relevant, interconnected data and getting instant actionable insights precisely at the moment you need them. There’s huge potential in every organisation’s information, and an insight engine unlocks this.”

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