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First Derivative, a global consulting firm that specialises in financial services, has announced a £15.3 million investment to establish an AI and FinTech Centre of Excellence at its headquarters in Newry, Northern Ireland.
The funding will support research and development of AI‑driven services and is expected to create 100 high‑quality jobs, with 70 positions based at the Newry office and the remaining 30 in Belfast.
Andrew Colhoun, Head of First Derivative, said the investment reflects the company’s “tech‑first strategy” and that the centre will “bring together our expertise and specialist skills with AI software solutions that our clients can integrate seamlessly into their existing systems.” He added that the centre would help the firm solve complex client challenges and strengthen its presence in Northern Ireland.
First Minister Michelle O’Neill, who visited the Newry offices, described the investment as “a huge vote of confidence in Newry, our people and the potential of this city.” She noted that the £15.3 million R&D investment would place First Derivative at the forefront of AI innovation and create 100 high‑quality jobs, including 70 in Newry, “secured against international competition” with support from Invest NI and the Department for the Economy.
Economy Minister Dr Caoimhe Archibald said the investment demonstrates the confidence that leading international companies have in Northern Ireland’s skilled workforce and innovation ecosystem. She highlighted that AI offers significant opportunities to boost productivity, drive innovation and create rewarding career opportunities, particularly in the Newry, Mourne and Down area.
The project is backed by the Northern Irish Government and aims to position the region as a hub for ethical, fair and responsible AI solutions, while providing local residents with new career prospects in the growing AI and fintech sectors.
Article and image source: irishpost.com
