Why artificial intelligence is now a priority for UK fintech start-ups

Nine of top 20 UK fintech deals were completed post-referendum, with investment totalling $368 million, according to a new report by Startupbootcamp's London fintech programme in conjunction with PwC. As a testament to the strength of the UK fintech market, the report also revealed that today's British fintech start-up works on a robust model that puts customers first through an investment into technologies like artificial intelligence (AI). Fintech start-ups are increasingly focusing on building smarter, faster machines as they seek to gain a better understanding of artificial intelligence and its potential to solve customer problems. This according to data compiled from hundred of start-ups and financial services companies, which also reveals that almost one in seven applications to the Startupbootcamp incubator programme in 2016 looked to build new prototypes, many of which were focused on AI and machine learning. Over the past few years, the focus on AI and machine learning has been driven by a need to further understand and develop the technology with no clear concept of how to implement it in daily life, according to the report.