Facebook buys British artificial intelligence company Bloomsbury

Facebook is buying London-based artificial intelligence start-up Bloomsbury, in yet another indication that the capital has become a hotbed for AI talent, ripe for cash-rich US tech giant's picking. Bloomsbury AI is a data analytics company that automates customer care and advice. It has proprietary algorithms that answer questions after trawling documents, which will prove a useful tool for Facebook's battle against fake news. The Silicon Valley tech giant will pay between $20m and $30m (£15m-£22m) to acquire the company in both cash and stocks, a move first reported by TechCrunch and confirmed by the Telegraph. It follows Google's purchase of Deepmind for £400m, another university-spin off...