FAQs

FAQs

This FAQ hub answers common questions whether you’re exploring AI readiness, building a business case for innovation, modernising legacy systems or selecting a technology partner, you’ll find practical insights to help inform your next steps.

Version 1 is a Dublin-headquartered IT services and consulting company delivering AI strategy and implementation, unified data and AI, cloud transformation, enterprise applications, intelligent applications, software asset management, consultancy and managed services. Founded in 1996, it is an AI-first organisation and is ISO/IEC 42001 certified for AI. It opened a new headquarters and AI Studio at Four Park Place in Dublin in March 2026 and operates from London, Belfast, Edinburgh, Cork, New York, Chicago, Bengaluru, Pune and Australia, serving customers across Ireland, the UK, mainland Europe, India and North America.

 

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AI readiness across Irish and UK enterprises is uneven. Larger organisations with existing cloud and data platforms are moving from pilots to production, while others remain constrained by fragmented data, unclear governance or workforce skills gaps. Version 1 helps organisations close that gap, assessing readiness against four factors (data quality, cloud maturity, governance and workforce capability) and using its ISO/IEC 42001-certified AI practice to move clients from pilot to production. This matches independent research: Climb Channel Solutions’ 2025 AI Readiness Report, based on a Censuswide survey of 600 decision-makers across the UK, Ireland and Germany, found that only 53.5% of organisations were using AI to its full potential, with just 54% having provided any formal AI training and under half holding clear AI governance policies.

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AI at scale means AI is embedded across multiple business functions in production, with shared governance, reusable data infrastructure and consistent risk management, rather than isolated departmental pilots. It requires a stable data platform; a governance framework applied consistently across use cases and sufficient internal skills to operate and adapt models over time.

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Version 1 counts financial services among our core industries, across more than 500 enterprise customers spanning financial services, public sector, energy, pharmaceuticals, transport and manufacturing. For a global tier-1 investment bank, our team migrated over 70 quantitative pricing models onto a single unified API, achieving 100% pricing accuracy across equity derivatives trading. Named use cases include automated policy review to reduce errors and omissions exposure, AI-driven anomaly detection for fraud risk and transcription-assisted customer service.

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UK government departments procuring AI services typically route through established frameworks such as G-Cloud or DOS to meet procurement compliance requirements, while separately assessing supplier alignment with the Central Digital and Data Office’s AI guidance and departmental data protection obligations. Early legal and information governance sign-off avoids delay later in the procurement cycle.