Industry news

TCS holds the number one spot in TechMarketView’s Insurance Software and IT Services rankings and is always a good bellwether of what is happening in the wider market. The BaNCS platform in particular, running NEST's £840m workplace pensions administration contract, supporting Aviva's life and pensions book through Diligenta, and now underpinning Ireland's My Future Fund auto-enrolment scheme, continues to function as both the commercial engine of the UK insurance practice and as a differentiating proof point that few rivals can match for scale and regulatory complexity. Thus, given the scale and footprint of TCS’s insurance operation its always worth spending time with the insurance SITS market leader (and its clients and partners) to gather insight in what is happening in the wider market.

Read the full article on TechMarketView here.

NHS England has confirmed it will deploy Microsoft 365 Copilot to 505k clinicians and support staff, building on a trial run across more than 30k workers in 90 organisations last October. The trial clearly proved a success, with average time savings of 43 minutes per staff member per day, with estimations that a broader rollout could free up an average of 2 days every month from admin duties.

The anticipated use cases span a wide range of roles. For clinicians and medical secretaries, the focus is on drafting letters and registrar training. Ward clerks are expected to use it for patient discharge processes, rota building, and bed management. 

Read the full article on TechMarketView here.

Having launched an agentic AI financial assistant last November, Lloyds Banking Group has announced a multi-year extension of its Microsoft partnership, becoming one of the first UK banks to deploy Microsoft 365 E7, the AI Frontier Suite, company-wide. The agreement marks a step up from productivity-focused genAI towards agent-led transformation across the group.

 Back in January, we heard that Lloyds had reported that generative AI delivered around £50m of value in 2025,  with expectations to exceed £100m in 2026 as the bank extends deployment across its operations. The figures represent real returns on AI investment rather than projected benefits, marking a shift from pilot programmes to production-scale deployments.

Read the full article on TechMarketView here.

AI-powered digital transformation player, Atos is repositioning its Digital Workplace (DWP) proposition in the UK&I around a modular, AI-first, subscription-based model explicitly designed for the midmarket including manufacturers, logistic and retail, a segment it believes has been chronically underserved, with most providers optimising for either large enterprise outsourcing or smaller managed service contracts, leaving mid-sized organisations without access to enterprise-grade automation and experience capabilities.

The move reflects Atos's broader global strategy to transition Digital Workplace towards a "services as software" model, where automation, agentic AI and data platforms will fundamentally reshape the economics of end-user computing services

Read the full article on TechMarketView here.

HM Revenue & Customs (HMRC) has engaged Deloitte to provide specialist process and data discovery services to support its transformation programmes. The two-year call-off contract is worth up to £19.85m. The service has been purchased to help HMRC to standardise discovery practices, improve connectivity across projects, and enable reuse of insights to avoid duplication.

Deloitte is no stranger to HMRC. In 2024, the firm secured a £15m contract to develop, design and implement the department's operating model and organisation design

Read the full article on TechMarketView here.

A cybersecurity report published by EY Canada has been removed from the firm's website after an investigation found that large sections of it were generated using AI and contained fabricated citations and inaccurate claims.

The report, titled "Points of Attack: Uncovering Cyber Threats and Fraud in Loyalty Systems", was released in late 2025 and examined cyber risks linked to loyalty rewards programmes.

However, AI-detection company GPTZero said its investigation found the 44-page document was "stuffed with hallucinations", including dozens of references to sources that either did not exist or could not be verified.

Read the full article on Computing here.

Jensen Huang does not believe in picking winners. “There are so many great, amazing foundation model companies, and we try to invest in all of them,” Nvidia’s founder and CEO said during an April podcast appearance. “We don’t pick winners. We need to support everyone.”

The numbers behind that philosophy are extraordinary. Nvidia has committed more than $90 billion in acquisitions, investments, and strategic deals in 2026 alone — a figure that places it among the most active dealmakers of any company, in any sector, in the world this year. The pace has accelerated so dramatically that Nvidia’s non-marketable equity securities — its private company investments — swelled from $3.39 billion at the start of fiscal 2025 to $22.25 billion by the end of January 2026. In the months since, the commitments have continued to accumulate at a pace that has left analysts scrambling to model the implications.

Read the full article here.

The biggest energy deal in nearly 30 years was announced yesterday — and it has almost nothing to do with oil. NextEra Energy agreed to acquire Dominion Energy in an all-stock transaction valued at $67 billion, creating the world’s largest regulated electric utility with a combined enterprise value of $420 billion. The last time a deal this large reshaped the American energy sector was Exxon’s acquisition of Mobil in 1998. The driver then was oil consolidation. The driver now is artificial intelligence — and the extraordinary, accelerating, apparently insatiable demand for electricity that AI data centres are generating across the eastern United States.

Read the full article on European Business Magazine here.

Earlier this year the chief at the Bank of Italy was viewed on media platforms endorsing what looked like risky investments. Except he wasn’t. It was a deepfake and the bank was quick to share warnings of this. However, it remains a prime example of how AI-generated deepfake content isn’t just misleading customers and shareholders, it is actively undermining public trust in organisations and key institutions.

Faked content is now appearing authentic enough that it’s being shared by established organisations, making its way to the social feeds of users and potential customers. According to recent research, humans have a 50-50 chance of defecting faked content. This coin-toss probability is damaging relations between businesses and their end-users.

Read the full article on European Business Magazine here.

Standard Chartered announced this morning that it will cut approximately 7,800 jobs by 2030 — more than 15% of its corporate functions workforce — as artificial intelligence replaces back-office roles across the bank’s global operations. CEO Bill Winters, speaking at an investor day in Hong Kong, framed the cuts not as cost reduction but as strategic reallocation: “It’s not cost cutting; it’s replacing in some cases lower-value human capital with the financial capital and the investment capital we’re putting in. The bank will have job role reductions in favour of the machines, and that will accelerate as we go forward into AI.” Chambers and Partners

The language is worth pausing on. “Lower-value human capital.” In a single phrase, one of the world’s largest banks has articulated what the AI transformation of financial services actually means for the people inside it.

Read the full article on European Business Magazine here.