Latest news with #Evi
Yahoo
10-07-2025
- Business
- Yahoo
Lloyds Banking (LYG) Announced its Partnership With a British AI startup
Lloyds Banking Group plc (NYSE:LYG) is one of the 11 Hot Penny Stocks to Buy Right Now. On July 2nd, Lloyds Banking Group plc (NYSE:LYG) announced partnering with British AI startup UnlikelyAI to test a groundbreaking neuro-symbolic AI technology aimed at improving innovation and customer experience in banking. The Neuro Symbolic AI approach combines neural networks with symbolic reasoning. The hybrid method aims to produce AI outputs that are more accurate, transparent, explainable, and free from hallucinations. UnlikelyAI was founded by William Tunstall-Pedoe, who also created the Evi voice assistant acquired by Amazon and integrated into Alexa. An aerial shot of a business district with the company's headquarters towering above its competitors. Lloyds Banking Group plc (NYSE:LYG) is conducting a proof-of-concept experiment within its Innovation Sandbox to explore how this AI can be used responsibly across the Group to deliver consistent, accurate, and compliant support for customers and staff. Lloyds Banking Group plc (NYSE:LYG) is a major UK-based financial services company that primarily serves retail and commercial customers. It operates through three main business segments, including Retail, Commercial, Insurance, Pensions, & Investment Banking. While we acknowledge the potential of LYG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
04-07-2025
- Business
- Yahoo
Lloyds Banking Group taps UnlikelyAI for customer experience
Lloyds Banking Group has collaborated with UnlikelyAI to explore the application of AI in customer experience. The partnership will focus on evaluating explainable AI through UnlikelyAI's neuro symbolic platform, which combines neural networks and symbolic reasoning to produce accurate and transparent results. Founded by William Tunstall-Pedoe, who previously developed the Evi voice assistant later integrated into Amazon's Alexa, UnlikelyAI will support Lloyds in a proof-of-concept study within its Innovation Sandbox. The initiative will assess the potential of neurosymbolic AI to deliver accountable solutions across the organisation to enhance decision-making. Lloyds Banking Group chief data and analytics officer Ranil Boteju stated: 'UnlikelyAI's neurosymbolic approach will allow us to test innovative new features for colleagues and customers that are not only useful, fast and intelligent, but also transparent and reliable. Together with UnlikelyAI, we are committed to ensuring that innovation goes hand-in-hand with customer benefit, accuracy and compliance.' UnlikelyAI founder and CEO William Tunstall-Pedoe said: 'This new Lloyds UnlikelyAI partnership with one of the biggest, oldest, and most trusted British banks is testament to the demand for novel AI solutions in regulated industries. 'We built UnlikelyAI to solve the fundamental problems that have prevented LLMs from being deployed safely in customer-facing financial services. Our unique approach enables banks to harness the power of conversational AI while complying with the regulations and standards that are fundamental to operations.' In April, Lloyds partnered with Google Cloud to advance its artificial intelligence and data science capabilities. This collaboration involves the creation of a machine learning and generative AI platform utilising Google Cloud's Vertex AI. "Lloyds Banking Group taps UnlikelyAI for customer experience " was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
02-07-2025
- Business
- Finextra
Lloyds Banking Group to test neurosymbolic AI
Lloyds Banking group is opening its innovation sandbox to a neural network-based AI product from UnlikelyAI. 0 UnlikelyAI's platform focuses on delivering AI that is explainable and free from hallucinations. It achieves this through a neurosymbolic approach, which combines neural networks (which learn from data) with symbolic reasoning (which follows logic and rules) to create a smarter and more reliable AI. The firm was founded by William Tunstall-Pedoe, the creator of the voice assistant Evi, which was acquired by Amazon in 2012 and integrated into the creation of the Alexa voice assistant by the Evi team two years later. He says: 'We built UnlikelyAI to solve the fundamental problems that have prevented LLMs from being deployed safely in customer-facing financial services. Our unique approach enables banks to harness the power of conversational AI while complying with the regulations and standards that are fundamental to operations.' Lloyds is to run a proof-of-oncept of the technology in its innovation sandbox, testing UlikelyAI's approach alongside existing AI platforms. Ranil Boteju, chief data and analytics officer at Lloyds Banking Group, says: 'We're harnessing the power of AI to revolutionise banking. UnlikelyAI's neurosymbolic approach will allow us to test innovative new features for colleagues and customers that are not only useful, fast and intelligent, but also transparent and reliable. Together with UnlikelyAI, we are committed to ensuring that innovation goes hand-in-hand with customer benefit, accuracy and compliance.' William The announcement follows the latest No Ordinary Tech Podcast episode from Lloyds Banking Group, which features Ranil Boteju and UnlikelyAI's CEO, William Tunstall-Pedoe, who discussed how fintechs and businesses can work together to accelerate innovation.
Entrepreneur
14-06-2025
- Business
- Entrepreneur
Entrepreneur UK's London 100: Unlikely AI
Industry: Artificial Intelligence UnlikelyAI is pioneering a novel approach that fuses large language models with symbolic methods to boost AI accuracy, safety, and transparency. In fields like healthcare, it's building technology that delivers explainable, verifiable insights - maximizing AI's benefits without compromising safety. Founder William Tunstall-Pedoe previously created Evi, the tech behind Amazon Alexa.
CNET
06-06-2025
- Entertainment
- CNET
He Got Us Talking to Alexa. Now He Wants to Kill Off AI Hallucinations
If it weren't for Amazon, it's entirely possible that instead of calling out to Alexa to change the music on our speakers, we might have been calling out to Evi instead. That's because the tech we know today as Amazon's smart assistant started out life with the name of Evi (pronounced ee-vee), as named by its original developer, William Tunstall-Pedoe. The British entrepreneur and computer scientist was experimenting with artificial intelligence before most of us had even heard of it. Inspired by sci-fi, he "arrogantly" set out to create a way for humans to talk to computers way back in 2008, he said at SXSW London this week. Arrogant or not, Tunstall-Pedoe's efforts were so successful that Evi, which launched in 2012 around the same time as Apple's Siri, was acquired by Amazon and he joined a team working on a top-secret voice assistant project. What resulted from that project was the tech we all know today as Alexa. That original mission accomplished, Tunstall-Pedoe now has a new challenge in his sights: to kill off AI hallucinations, which he says makes the technology highly risky for all of us to use. Hallucinations are the inaccurate pieces of information and content that AI generates out of thin air. They are, said Tunstall-Pedoe, "an intrinsic problem" of the technology. Through the experience he had with Alexa, he learned that people personify the technology and assume that when it's speaking back to them it's thinking the way we think. "What it's doing is truly remarkable, but it's doing something different from thinking," said Tunstall-Pedoe. "That sets expectations… that what it's telling you is true." Innumerable examples of AI generating nonsense show us that truth and accuracy are never guaranteed. Tunstall-Pedoe was concerned that the industry isn't doing enough to tackle hallucinations, so formed his own company, Unlikely AI, to tackle what he views as a high-stakes problem. Anytime we speak to an AI, there's a chance that what it's telling us is false, he said. "You can take that away into your life, take decisions on it, or you put it on the internet and it gets spread by others, [or] used to train future AIs to make the world a worse place." Some AI hallucinations have little impact, but in industries where the cost of getting things wrong – in medicine, law, finance and insurance, for example – inaccurately generated content can have severe consequences. These are the industries that Unlikely AI is targeting for now, said Tunstall-Pedoe Unlikely AI uses a mix of deep tech and proprietary tech to ground outputs in logic, minimizing the risk of hallucinations, as well as to log the decision-making process of algorithms. This makes it possible for companies to understand where things have gone wrong, when they inevitably do. Right now, AI can never be 100% accurate due to the underlying tech, said Tunstall-Pedoe. But advances currently happening in his own company and others like it mean that we're moving towards a point where accuracy can be achieved. For now, Unlikely AI is mainly being used by business customers, but eventually Tunstall-Pedoe believes it will be built into services and software all of us use. The change being brought about by AI, like any change, presents us with risks, he said. But overall he remains "biased towards optimism" that AI will be a net positive for society.
