Babylon Health’s GP at Hand causes £21.6m funding gap

Babylon Health's AI-powered healthcare service GP at Hand has caused a funding gap in excess of £21 million just as further cuts are being made.

Health secretary Matt Hancock has championed GP at Hand since 2017. The digital service has come into question for providing unsafe recommendations, and for taking money away from surgeries already struggling with cuts.

The service has operated through the Hammersmith and Fulham Clinical Commissioning Group (CCG) across London....

Almost half of Europe’s AI startups have no actual AI

A new report highlights many of Europe’s AI startups appear to be cashing in on the hype and have no actual AI to speak of.

The fact you can add ‘AI’, ‘IoT’, or ‘blockchain’ to your company name/description and it will skyrocket your valuation has become something of a running joke in the industry. Shares in Long Island Iced Tea, for example, infamously shot up almost 200 percent after changing its parent company name to ‘Long Blockchain Corp.’

European...

Most-funded AI startup SenseTime wants another $2bn

Not content with being the world’s most-funded AI startup, Chinese facial recognition darling SenseTime is preparing a $2 billion financing round.

SenseTime raised more than $1.2 billion last year; including a round announced in May that valued it at more than $4.5 billion.

According to Bloomberg sources, the company is aiming for $2 billion more funding but the information is private. The sources claim investor Alibaba is working on the...