HMRC to use AI from British tech firm to spot fraud and tax return errors
Summary
HM Revenue and Customs (HMRC) has signed a 10-year deal worth £175 million with the British tech company Quantexa. The company will provide artificial intelligence (AI) technology to help HMRC detect fraud and correct tax return mistakes faster while supporting staff in their work.Key Facts
- HMRC will use AI technology from Quantexa to improve fraud detection and error correction in tax returns.
- The deal between HMRC and Quantexa lasts 10 years and costs £175 million.
- Quantexa’s AI will combine HMRC data with outside information to find hidden networks of fraudsters.
- The AI will assist customer service staff but humans will still check all AI decisions.
- Quantexa’s chief executive says AI decisions for citizens will be transparent and explainable.
- HMRC data will stay secure and will not leave the government’s environment.
- The British company Quantexa is valued at $2.6 billion and works with companies like HSBC and Vodafone.
- Using a UK firm supports the government’s goal for “digital sovereignty,” meaning more control over important technology.
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