Next generation services
An overview of government’s challenge to industry and research to help the service industry take advantage of new technologies.
What is the next generation services challenge?
The services industry accounts for almost 80% of the UK economy. Financial and professional services alone are worth £190 billion and employ 2.2 million – so it’s vital that we ensure these are primed for the future.
Technologies like artificial intelligence and data analytics can help the sector to become more efficient, productive and globally competitive. They can significantly improve the services provided to clients and customers.
Through this challenge, government will support industry and researchers with developing next-generation services that can transform the services industry.
What’s the investment?
Up to £20 million of ‘pioneer funding’ will help to establish how new technologies could enable the UK accountancy, insurance and legal services industries to transform how they operate and where the greatest impact will be, to lead the world.
What are the funding opportunities?
Funding opportunities were available to UK-based researchers and businesses in summer 2018. These are now closed for applications.
There are no other planned funding competitions in this challenge area. You can get updates about the research and ideas to come out of the funding opportunities on this page or by signing up for updates.
The challenge is funding:
An interdisciplinary research programme that will focus on the potential behavioural and socio-technical barriers to adoption of AI and data technologies in accountancy, insurance and legal services and how to resolve these.
Collaborative research and development
Collaborative research and development projects to explore the use of AI and data technologies in accountancy, insurance and legal services. Projects will look at 2 strands:
- large consortia projects to address common, sector wide challenges that require a coordinated approach, such as across supply chains and regulators
- smaller projects that apply AI and data techniques in novel ways within accountancy, insurance and legal services