1 minute read
recovery attempt
by cityam
CHRIS DORRELL
WANDISCO has successfully completed a $30m (£23.7m) fundraise as it attempts to recover from scandal and resume trading on AIM. The data company will issue 47.5m new shares, which was 70 per cent of the company’s capital prior to the fundraise.
The proceeds will provide the firm with working and growth capital.
The firm added it consulted with and received “strong support” from many of its largest shareholders in advance.
Global Frontier Investments subscribed for 4.2m shares while Davis Capital Partners subscribed for 5.5m shares. Both were existing shareholders in the company.
Benefits of AI in the workplace include helping people to work more efficiently, making careers more accessible and unlocking new ways of learning digital skills.
Google’s Economic Impact Report reveals that by supercharging the UK’s productivity, AI could unlock an economic boost of over £400bn to the UK. Additionally, AI could help offset cost pressures in health and education to free up over £8bn of public sector productivity.
Despite concerns that AI could replace human workers across a raft of industries, Google VP Debbie Weinstein emphasised “it’s crucial that the public, private and third sectors work together” to utilise AI’s full potential.
