Industry news

CGI has won a substantial contract with the Department of Justice, Northern Ireland Courts and Tribunals Service (NICTS), which will run for a total of 20 years with a value of £85m.

The company will be NICTS’ delivery partner for its business and IT modernisation program, Themis (part of NCITS’ Vision 2030 Portfolio). The vision is of a digital-first, paper-light environment allowing for greater transparency, faster case delivery and increased accessibility through virtual services. Under the ‘build and run’ contract, CGI will collaborate with the existing Themis team to implement a five -year roadmap involving a new IT solution incrementally replacing legacy systems.

Read the full article on TechMarketView here.

Artificial intelligence (AI) and environmental, social and governance are some of the industry’s favourite terms to throw around. AI promises to make a huge impact on every aspect of financial services, while ESG principles are important to abide by to ensure firms look after the planet and their people.

In its global report, ‘Financial Futures: Disruption in global financial services‘, DLA Piper found that eight in ten respondents are optimistic about future industry growth prospects for the financial services industry, with UK (93 per cent) and US organisations (90 per cent) reporting the highest confidence. While banks appear to be the most optimistic (88 per cent), respondents from global fintechs feel the least positive about the future (72 per cent).

Read the full article on The FinTech News here.

The UK stands to gain more than £700 billion from the impacts of generative AI, according to a new study, with close to half of all working hours in line to be disrupted by the technology. However, according to a new study from Accenture, some 8 million still lack basic digital skills, meaning they could be left behind during a potential realignment of the employment market.

Since generative AI has burst onto the scene, Accenture has worked on over 700 projects for clients exploring the technology’s potential. While it is still unclear what that potential is – beyond broad statements about improved efficiency, reduced costs, and more accurate, faster analysis of data – this has positioned Accenture well when it comes to reading the proverbial tea-leaves, and forecasting what kind of a future economy GenAI might help to build.

Read the full article on Consultancy.uk here.

Tata Consultancy Services has announced a new deal with Mansfield Building Society to enhance member and intermediary experiences. The digital transformation will boost the building society’s customer service function, while supporting its ambitious growth plans.

A survey of customer service entities by McKinsey & Company shows that leaders are broadly agreed on the need to get digital right. Over half of respondents told the strategy consulting giant that the share of inbound contacts that take place through digital channels will exceed 40% in the next three years.

Read the full article on Consultancy.uk here.

London and Singapore-based Zevero has raised $7m (£5.3m) in a seed funding round led by Spital Capital, with participation from East Ventures.

Zevero’s AI-powered carbon accounting platform focuses on measuring emissions across supply chains in the fast-moving consumer goods sector, providing tools to help clients both meet their regulatory reporting obligations and also take steps to reduce their carbon impact.

Read the full article on TechMarketView here.

Strategic agility is the ability of a company to reinvent itself over time, changing its market focus, offerings and business model as needed in order to remain competitive and win in tough markets. Corporate history is full of examples of companies that failed to change when needed, either by ignoring or failing to notice market signals, or being unable to implement transformation.

Microsoft shifted from an operating systems company to enterprise and cloud services, then consumer electronics and, more recently via substantial investments, towards incorporating AI into its key offerings.

Read the full article on Management Today here.

The England and Wales Cricket Board (ECB) and Cognizant have announced a partnership which is set to offer recreational cricket fans, players and volunteers an improved digital experience.

The collaboration will also aim to provide a streamlined and inclusive digital experience that facilitates a more meaningful engagement for all participants with the game. The first phase is due to become operational in 2025.

Cognizant comes to the ECB relationship with significant experience of supporting major sports governing bodies in the UK.

Read the full article on TechMarketView here.

UK challenger, Metro Bank has struck a long-term deal with Infosys as the high street retail bank looks to reduce its cost base and turn around its fortunes by transforming its IT and business operations. Metro Bank has tasked Infosys with enhancing its IT and support functions, while digitally transforming many of the bank’s processes.

The collaboration with Infosys is designed to enhance Metro Bank’s digital capabilities, improve automation, refine data, and embed AI capabilities into the bank’s processes. To achieve this Metro Bank will leverage Infosys Topaz, an AI-first offering using generative AI technologies to deliver a consistent customer experience.

Read the full article on TechMarketView here.

In recent years, many organisations have reassessed their approach to Diversity, Equity, and Inclusion. This shift is partly driven by political narratives, especially in the US, where there’s a trend towards downplaying the need to drive the agenda, reintegrating DEI initiatives back into HR departments, and mis-using the term ‘woke’ with negative connotations. But according to Gita Singham-Willis, this approach risks undermining the very essence of what DEI stands for.

DEI cannot be confined to HR practices alone. DEI has to stand as much more than a set standard of initiatives, serving as a fundamental aspect of organisational culture and a crucial driver of long-term business sustainability.

Read the full article on Consultancy.uk here

AI start-up Oxford Dynamics has secured an Enterprise Agreement Lite with the UK Ministry of Defence, worth up to £2m for its generative AI technology to assist with the searching, interrogation and summarising of complex data. This is the first AI-focused EA Lite contract of its type to be awarded by the MoD to a company, demonstrating the desire to use the innovative technology from UK start-ups to solve government challenges.

Oxford Dynamics was founded in 2020 by Shefali Sharma, Dr Edward Jackson and Mike Lawton, bringing together a blend of serial tech entrepreneurial and space industry expertise and unique AI research. 

Read the full article on TechMarketView here.