Quantexa is to open an £85 million artificial intelligence innovation centre in London which will create more than 170 jobs.

The scaleup revealed the plan as part of more than £200m in AI research and development investment by 2027 which it says is in support of the government’s plans to make the UK a leader in AI.

It also previewed its generative AI assistant, Q Assist, which aims to show how world-leading institutions will unlock the full potential of data to investigate risk and identify opportunity.

Quantexa’s decision intelligence platform and suite of solutions for data management, customer intelligence, KYC, risk, fraud, and financial crime have been deployed in over 70 countries.

Q Assist, which will be built on this, will allow clients to use their own proprietary, open source, or commercially available models to query via natural language questions and prompts.

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“We want to ensure the UK remains the best place in the world to build, test, and use safe AI technology,” said Prime Minister Rishi Sunak. 

“Quantexa’s new £85m London AI Innovation Centre will help cement this reality. It will create over 170 jobs, harness the extraordinary potential of AI as we grow our economy, and lead the way on responsible AI development around the world.”

Vishal Marria, CEO and founder of Quantexa, added: “While many companies are talking about AI and machine learning, we have been investing in it since our inception. 

“We are investing our time, money, and resources into the biggest technological breakthrough for generations as it will transform how organisations make decisions. 

“We’re proud to invest in London-based innovation but the impact will be felt by the global economy and will start a ripple effect that will unlock decision intelligence capabilities for our clients and their respective industries.”

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