London-based AI startup Builder.ai has filed for bankruptcy in the United Kingdom and India after months of financial struggles and misdirection. The company reportedly overstated sales "by as much as four times" according to The Financial Times.
The tech firm previously marketed its services as an AI-powered tool designed to simplify app development, generating code based on queries supplied by the customer. Builder.ai's services have been under scrutiny for some time. As far back as 2019, questions were asked about the legitimacy of its AI claims.