Businesses are missing out on key insights because just three per cent are using machine learning (ML) to analyse their unstructured data, according to research. A Censuswide survey of 150 senior IT decision makers at UK financial services firms for Cloud Technology Solutions found that while artificial intelligence (AI) and automated functions such as Machine Learning are being used to process and analyse structured data, the value of unstructured data remains untapped.

Hyundai and Kia have invested €100 million in UK-based electric vehicle (EV) firm Arrival.The strategic investment will see the South Korean motor giants collaborate with Arrival to develop eco-friendly vans and other products for logistics, on-demand ride-hailing, and shuttle service companies.

The government’s cyber security accelerator programme LORCA (London Office for Rapid Cybersecurity Advancement) has announced the 20 scale ups selected for its largest cohort yet. This year’s cohort of cyber firms specialise in technologies ranging from AI and quantum to automated detection methods as well as zero-trust defence, cryptography and supply chain risk.

The European Baking Authority has set out the key challenges to emerge from the growth of Big Data and advanced analytics, including machine learning , across the financial services sector. The EU’s banking regulator’s report identifies key trends taking hold as banks embrace financial technology, Open Banking and other Artificial Intelligence (AI) and data-driven processes. It also recommends safeguards to ensure “technological neutrality” in the use of advanced analytics.

Relx, the FTSE 100 data and information services giant has signed a $375 million deal to buy US fraud detection company ID Analytics. A statement said Relx’s LexisNexis Risk Solutions divsiion had agreed to acquire the San Diego-based enterprise analytics firm to expand its ability to deliver risk insights through the combination of proprietary data, patented analytics, and near real-time cross-industry consumer and identity behavior.

Travelex, a foreign exchange service hit by a ransomware attack, has said it is making good progress on containing the virus and has begun the process of refunding customers while it remains offline.The company took its website down two weeks ago after a hacking group compromised systems and demanded a reported £4.6 million ransom with a threat to release personal customer data including social security numbers, dates of birth and card information.

The Information Commissioner’s Office (ICO) has imposed a £500,000 fine on DSG Retail, after till systems at Currys PC World and Dixons Travel were hacked, leaving the data of 14 million customers exposed to attack. A hacker installed malware affecting the point of sale computer systems of 5,390 tills stores in an attack lasting from July 2017 to April 2018.

Standard Chartered has made a strategic investment into Chinese supply chain financing platform Linklogis. The purchase of an equity stake for an undisclosed amount is aimed at helping it join the supply chain ecosystem proposition and provide suppliers with access to affordable financing.