Transforming accountancy, insurance and legal services with AI and data (small projects strand)
UK business and research organisations can apply for a share of £12 million from the Industrial Strategy Challenge Fund. This is to develop AI and data enabled products and services within accountancy, insurance and legal services.
Competition opens: Monday 18 June 2018
Competition closes: Wednesday 15 August 2018 12:00pm
UK Research and Innovation will invest up to £12 million in innovation projects to support the application of artificial intelligence (AI) and data technologies. Projects should aim to transform the 3 target sectors:
These are sectors where there is an imminent threat from overseas competition.
This competition is part of the Next Generation Services Challenge. This is a joined up national innovation programme. It supports projects from applied research through feasibility studies to experimental development.
All projects should show how they will address challenges which will delay or adversely impact adoption. For example, this can include issues around ethics, privacy, bias and transparency and how people’s acceptance and behaviours will affect the service transformation.
There are 2 strands to this competition. This strand is for small consortia or single SME projects. A business must lead and consortia can include academic research partners and RTOs. The other strand running in parallel to this is for larger projects.
We are expecting to fund between £2 million and £4 million of grants in this strand. We reserve the right to manage budgets between the 2 strands to ensure a balanced programme.
If your project size falls outside of our scope, contact us before you apply.
Total project costs should be up to £400,000 and projects should last between 1 and 2 years. Projects should plan to start 1 December 2018. All projects must complete by 31 March 2021.