Transforming Accountancy, Insurance and Legal Services with AI and Data (Large Consortia Strand)

Funding opportunity:

Transforming Accountancy, Insurance and Legal Services with AI and Data (Large Consortia Strand)

Status:

Closed

Funder and programme:

UK Research and Innovation (UKRI) – Industrial Strategy Challenge Fund (ISCF)

Project total costs (range):

£ 2,000,000 – £ 4,000,000

Opens:

18/06/2018

Competition closes:

15/08/2018 (12:00 noon)

UK businesses and research can apply for a share of £12 million from the Industrial Strategy Challenge Fund. This is to develop artificial intelligence (AI) and data enabled products and services within accountancy, insurance and legal services.

UK Research and Innovation (UKRI) will invest up to £12 million in innovation projects to support the application of AI and data technologies. Projects should aim to transform the 3 target sectors:

    • Accountancy;
    • Insurance;
    • Legal services.

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.

UKRI expects you to include representation from relevant disciplines such as mathematics, computer science and social science. This is so that projects will meet the challenges associated with complex multi/interdisciplinary issues

There are 2 strands to this competition. This strand is for large consortia projects, which businesses, RTOs or academic institutes can lead. The other strand running in parallel to this is for smaller projects.

UKRI is expecting to fund between £8 million and £10 million of grants in this strand. UKRI reserves the right to manage budgets between the 2 strands to ensure a balanced programme.

Total project costs should be between £2 million and £4 million, and projects should last up to 2.5 years. Projects should plan to start by 1 December 2018 and all projects must be completed by 31 March 2021.

MSC R&D can help your business develop by supporting you in:
• Identification of appropriate grants and competition calls for proposals
• Partner search for collaborative Research & Innovation
• Bid writing
• Project management
• Audit compliance
• Commercialisation
• Business Planning
• Market Intelligence reports

If you want help with any of these opportunities, please CONTACT us on 0114 230 8401 or email businessdevelopment@mscbdg.co.uk