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AI News from ET - Britain's FCA defends Palantir contract award before lawmakers

Vishwadeep Khatri
in AI News & Two Lenses

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Britain's Financial Conduct Authority awarded a contract to US firm Palantir to analyze internal data for financial crime. However, an FCA official stated Palantir will not have access to sensitive regulatory intelligence. Lawmakers raised concerns about the company's potential monopoly and access to data. The FCA emphasized the need for best-in-class tools to combat financial crime.

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