Breaking AI & Tech News Analyzed

Palantir, a Miami-based company backed by billionaire Peter Thiel, has secured a three-month trial contract with the Financial Conduct Authority (FCA) to analyze a vast amount of sensitive UK financial regulation data. The deal, worth over £30,000 per week, aims to help the FCA tackle financial crimes such as fraud, money laundering, and insider trading.The FCA has awarded Palantir the contract to investigate its internal intelligence data, which includes highly sensitive case intelligence files, information on problem firms, and reports from lenders about proven and suspected frauds. Palantir will apply its AI system, known as Foundry, to huge quantities of information held by the watchdog, including recordings of phone calls, emails, and social media posts.The contract has raised concerns about privacy and the company's ethical reliability. One source expressed concerns that Palantir may share the information it learns from the FCA with other parties. Palantir's technology is used by the Israeli military and in the US president's ICE immigration crackdown, leading to criticism from left-wing MPs.The FCA has stated that it has strict controls in place to ensure data is protected and that Palantir will only act on instruction from the regulator. The data will be hosted and stored solely in the UK, and Palantir will have to destroy the data after completion of the contract.Experts have highlighted the potential benefits of using AI to tackle financial crimes, but also emphasized the need for robust protocols to protect sensitive information. Prof Michael Levi, an expert in money laundering, noted that AI is a potentially valuable technology to tackle financial crimes, but also raised concerns about the ownership and control of the data.

Sebastian Korda produced a remarkable comeback to defeat Carlos Alcaraz in the third round of the Miami Open, marking one of the biggest upsets of the ATP season. The American, seeded 32nd, dominated the match for over an hour before Alcaraz mounted a fierce comeback, ultimately prevailing 6-3, 5-7, 6-4.Korda's resilience and determination were on full display as he overcame a difficult spell to secure the win. His serve was dominant for much of the match, and his ground strokes were clean and destructive. Alcaraz, known for his exceptional return skills, was effectively shut out of many service games.The match took a dramatic turn when Korda, leading 6-3, 5-3, lost seven consecutive points, allowing Alcaraz to stay in the match. However, Korda regained his composure to close out the third set and secure the victory.Alcaraz praised Korda's performance, saying, 'Sebi was incredible today. Played such a great game. A lot of tight, tight moments that I just didn’t make the most of it.' The loss marks a setback for Alcaraz as he prepares for the clay-court season.Korda's victory is significant for his career, as he looks to capitalize on the momentum and make a deeper run in the tournament. The win also boosts his confidence as he faces tougher opponents in the future.