Starling Bank to cut 130 jobs as UK fintech pursues AI-driven restructuring

Starling Bank, a UK challenger bank, announced plans to cut 130 jobs as part of a restructuring effort to streamline operations and accelerate AI-driven product development. The move follows a 3% decline in pre-tax profits to £217m and a revenue drop to £887m for the year ending 2025. The bank aims to enhance agility and reduce duplication while expanding its use of AI in banking services.

PyTorch Foundation Establishes Independence in Paris to Drive European Open-Source AI Development

The PyTorch Foundation, now an independent non-profit, plays a central role in Europe’s open-source AI ecosystem. It supports projects like Safe Tensors and fosters collaboration among European AI startups and researchers to advance AI sovereignty and open infrastructure.

London Fintech Mdotm Secures $27 Million to Expand AI-Powered Wealth Management Platform

Mdotm, a London-based fintech firm using AI to manage investment portfolios, secured $27 million in funding led by Expedition Growth Capital. The company serves over 60 financial institutions globally and plans to expand its AI platform Sphere, which supports $100 billion in assets under management.

European Startup FieldAI Champions Architecture-First Approach to Physical AI

The article discusses two competing approaches in physical AI: data-driven methods and architecture-first strategies. FieldAI, a European startup, is spotlighted for its architecture-first model, which emphasizes real-world deployment, uncertainty quantification, and operational intelligence. This approach contrasts with data-first methods used by companies like Physical Intelligence and Generalist, and is positioned as more resilient for complex, safety-critical environments.