Science & Technology

IT Company Kainos to Invest £10 Million in AI

IT company Kainos, which is based in Belfast, announced its intention to invest 10 million pounds in the implementation of efforts to integrate generative artificial intelligence into its business.

IT Company Kainos to Invest £10 Million in AI

Generative AI is a technology that can independently create text materials, images, program codes, and other units of information while acting within the framework of a thinking paradigm that largely inherits the principles of operating the human brain. This technology is capable of generating original content, rather than compiling existing operating time.

In order to use generative artificial intelligence in business, it is necessary to provide automation or acceleration of software development beforehand.

The company from Northern Ireland said that the investment funds will be used for training more than 1,000 employees in machine intelligence tools and so-called co-pilots. The firm is already using AI-based technologies such as chatbots to serve customers. For several years, the company has had a practice in the area of artificial intelligence and data processing, which currently employs about 150 employees of Kainos.

Using funding in the amount of 10 million pounds, the firm also intends to advance in the conceptual understanding of generative artificial intelligence and focus on the development of advanced solutions, including accelerators, systems, and ecosystem partnerships to solve problems that arise from customers.

The company will appoint a new head of technology, who will head the relevant department and coordinate training and implementation of initiatives within the framework of internal business operations.

The firm said that as part of the intensification of AI-related efforts, costs will increase in partner organizations focused on research on the impact of generative machine intelligence on processes occurring in the social space.

The new executive director of the firm, Russell Sloan, says that the decision to invest is the next step in the company’s activities to develop its own capabilities in the area of machine intelligence. According to him, Kainos directs funds to ensure that more than 1,000 employees receive skills that guarantee that they will be able to use generative artificial intelligence for the benefit of customers.

Russell Sloan also said that the company is increasing its investment in academic research institutes, including the AI Research Center (AIRC) at the University of Ulster. He explained the need for interaction by the fact that in this case guarantees of responsible use of artificial intelligence are being formed.

Kainos is currently the largest technology business in Northern Ireland. The total number of employees of the company who live in different countries of the world is more than 3,000 people. The firm specializes in helping organizations digitize their procedural activities and states that UK government departments are among its main clients.

The fundamental issue that arises within the framework of the use of AI for the company is to ensure the ethical use of advanced technology. Last year, the firm created a data ethics department.

As we have reported earlier, AI Startup Hugging Face Raises $235 Million.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.