The UK's HMRC tax authority announces a 10-year, £175M deal with London-based Quantexa to use its AI tech to identify fraud incidents and fix tax return errors (Zoe Kleinman/BBC)

The UK's HMRC has secured a significant 10-year contract worth £175 million with Quantexa, a London-based technology firm, to leverage AI technology in combating fraud and correcting tax return inaccuracies. This partnership aims to enhance the efficiency and effectiveness of the tax authority's operations through advanced data analytics and AI capabilities.