Launched in 2018, UKRI Next Generation Services Challenge is a £20 million pioneering programme aimed at stimulating the use and adoption of Artificial Intelligence and Data Technologies in the accountancy, insurance, and legal services sectors. Around forty projects have been awarded funding through the programme including:

AI for Services is the Innovation Network underpinning the programme and delivered by Innovate UK KTN. The network brings together over 1,400 members including leading professionals and academics, high growth entrepreneurs and investors participating in events, receiving monthly email updates, and contributing to content publication. As part of the activities of the network, an industry UK wide mapping report was published in September 2020 providing up to date insight into the state of play of AI and data technologies for the accountancy, insurance, and legal services sectors.

With the current programme completing at the end of March 2022 and a larger new potential programme currently being developed, AI for Services, on behalf of UKRI, is seeking to publish a second report. This report aims to reflect on the advances made in technology adoption and business model transformation in the UK in the accountancy, insurance and legal services sectors since the programme was launched and explore future opportunities for innovation both at national and international level. The report shall also map out the UK private investment landscape for the sector highlighting both investors and companies’ perspectives.