First Minister announces funding boost for Scottish AI firm

The AI service will help Encompass customers to "quickly and accurately" find risk-relevant information on their own customers, organisations and investments. Sturgeon said: "Encompass is one of a number of international companies that has chosen to locate and steadily expand its operation, making Scotland an attractive place to grow its business. "From its Glasgow base, the company has access to markets, a supportive business environment and has been able to identify local talent from Scottish professionals in the engineering and software development sector. "Backed by almost £2 million of R&D investment from Scottish Enterprise, Encompass will be able to develop artificial intelligence software tools that will assist companies in the financial sector to reduce operational risks associated with meeting compliance and regulatory standards." Encompass's work in Glasgow has primarily been focused on its Know Your Customer product, where it uses data analytics to ensure clients do not unknowingly trade with organised crime or the proceeds of crime.