Insig AI plc has announced a significant leadership change as CEO Colm McVeigh has stepped down to pursue other opportunities. The company’s executive chairman Richard Bernstein has been appointed to replace him, focusing on deepening engagement with asset managers and advancing the commercialisation of Insig’s product offerings. The firm, which specialises in data science and machine learning solutions, reported lower-than-expected revenues of £1.3 million for the 2024 financial year. This was compounded by delays in commercialising key products, culminating in a capital injection offer of £250,000 from Bernstein. Additionally, Chief Technical Officer Warren Pearson is stepping down from the board but will stay on as a full-time employee. John Wilson, CEO of Bulgin Limited, has been appointed as the new non-executive chairman. These changes come as Insig AI aims to convert its technical capabilities into substantial client wins and revenue in the face of impending regulatory changes.
Artificial Intelligence & Machine Learning, Technology, Financial Services,United Kingdom