The “Transforming accountancy, insurance and legal services with AI and data” competition is due to close at midday on 15 August.¬†

Alongside the large consortia strand of this project is a small projects strand, and UK businesses and research organisations can apply for a share of £12m from the Industrial Strategy Challenge Fund.

The funding is to develop AI and data enabled products and services within accountancy, legal and insurance services. These industries face competition from overseas and there are also challenges including identifying and preventing fraud, meeting audit requirements, assessing risk and reviewing large quantities of text. AI and data technologies could help to meet these challenges and make services more efficient, productive and competitive.

This competition is part of the next generation services challenge, a £20 million fund to develop novel products and services that will transform the UK’s services industries. The investment is under the government’s Industrial Strategy Challenge Fund. This seeks to bring together world-leading research and businesses in the UK to take on the major industrial and societal challenges of our time.

To find out more about the scope of the funding call and how to apply, visit the Innovation Funding Service site.

Share this article