The United Kingdom just announced the allocation of $16.8 million USD (£13 million) to 40 data analytics and AI projects focused on improving the country’s professional services.
One of the AI projects supported by the UK government aims to prevent fraud across industries like insurance, accountancy, and legal services.
The software is currently being developed by two AI companies, Intelligent Voice and Strenuus, in collaboration with the University of East London.
The artificial intelligence system will determine fraudulent claims by using both voice recognition and algorithms to comprehend emotions and linguistics.
“Artificial intelligence and data are transforming industries across the world,” Greg Clark, UK’s Secretary of State for Business, Energy and Industrial Strategy, said in a statement.
“We are combining our unique heritage in AI with our world-beating professional services to put the UK at the forefront of these cutting-edge technologies and their application.”
AI Projects to Develop New Technologies
All the AI projects backed by the UK government’s Industrial Strategy Challenge Fund are in development with organizations and research institutions working together to create new technologies to cater to the needs of professional services.
“We want to ensure businesses and consumers benefit from the application of AI – from providing quicker access to legal advice for customers, to tackling fraudulent insurance claims, these projects illustrate our modern Industrial Strategy in action,” Clark went on to say.
“We’re investing record levels in research and development so that every part of the UK can benefit from the industries and high-skilled jobs of the future.”
Other projects benefitting from the UK government investment include:
- An AI system that responds to legal questions asked by customers online.
- A drone equipped with an imaging assessment tool to assess areas affected by flooding and other calamities.
- An accounting tool that can determine how companies can limit their spendings.
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