AI firm Palantir can now access UK's financial data

AI firm Palantir can now access UK's financial data

Palantir, a US-based artificial intelligence (AI) company, has been awarded a contract by the UK's Financial Conduct Authority (FCA).

The deal will give Palantir access to highly sensitive internal intelligence data held by the FCA. The move is part of an effort to combat financial crimes such as fraud and money laundering.

The three-month trial comes with a payment of over £30,000 per week for analyzing FCA's extensive "data lake."