Travel money, artificial intelligence and the green economy
Feb 8, 2024
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The podcast discusses Labour's u-turn on green investments and the importance of sustainable transition. It emphasizes collaboration between the government and private sector for sustainable investments. The chapter also covers business news stories including Deere Smith, AstraZeneca, and Unilever. The podcast introduces Data Snipper, a technology that automates auditing tasks. The expansion plans of TravelX and the impact of geopolitical issues on their operations are discussed.
Consistent government policies and private investments are crucial for driving sustainable industries and creating new jobs.
Cash remains the preferred payment method for travelers, with TravelX benefiting from increased traveler numbers and expansion into new markets.
Deep dives
Importance of Private Capital in Sustainable Finance
Private investors are seeking long-term investments in low-carbon and sustainable projects. The disappointment from Labour's decision to abandon its £28 billion green investment pledge highlights the need for consistent government policies and ways to attract private capital. The UK must address challenges in planning and grid connections to encourage private investments, which will help drive the growth of sustainable industries and create new jobs.
Cash Remains Trusted Payment Method for Travel
Despite the decline of cash usage in domestic settings, cash is still the preferred and trusted mode of payment for travelers. Around 70% of consumers rely on cash when traveling abroad, seeking security and confidence in their transactions. TravelX, a global travel money services provider, continues to benefit from the recovery in international travel, with underlying operating profits rising substantially due to increased traveler numbers and expansion into new outlets and markets.
Data Snipper Revolutionizes Auditing with Automation
Data Snipper, an intelligent automation platform for auditing, aims to streamline the auditing process by automating manual tasks. It eliminates the need for auditors to spend extensive hours matching, cross-referencing, and verifying financial data, allowing them to focus on identifying risks and providing strategic advice. With a subscription-based model, Data Snipper serves not only auditors but also diverse industries such as oil and gas, insurance, and healthcare, aiming to solve the universal problem of data accuracy and verification.
On today's episode, Ian King speaks to the UK Sustainable Finance and Investment Association, after a u-turn by Labour on its main environmental policy.
He also discusses how artificial intelligence can help finance firms become more efficient.
And Ian chats to Richard Wazacz from the international currency giant Travelex about its latest results.
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