UKRI Next Generation Services Challenge National Showcase

TECHNGI was delighted to attend the UKRI Next Generation Services Challenge National Showcase, held on 30 March 2022 in Birmingham, to explore some of the most exciting developments and progress in artificial intelligence (AI) and data analytics technologies across the accountancy, insurance and legal services sectors.

Throughout the day, the exhibition showcased projects supported by the UKRI Next Generation Services Challenge, including:

• Research projects investigating behavioural and socio-technical barriers to adoption of artificial intelligence and data technologies;
• Business led Collaborative Research & Development projects exploring how these technologies can be used and applying them in new ways;
• Business led consortia developing responsible data access methods.

In addition to the exhibition, there was a full programme of presentations and discussions with industry leaders to explore the challenges and opportunities that these innovative technologies can bring to the services sector.

Professor Chris Holland joined the Experts Panel: Addressing the Challenge – Lessons Learnt and Future Opportunities and discussed the application of AI within insurance. Chris addressed how AI may develop new forms of value within current business models and suggested many improvements will be made for both customer and business from automated processes. In contrast, business model innovation demanded a more radical approach from a companies seeking to disrupt the market by taking a solely digital approach and adopting a total AI mindset. The use of harnessing data ensures these disruptors rapidly increase and evolve their AI systems, success bringing fast growth of the company. Both aspects of the the business models transformation require significant capabilities in the skill and digital capacity of the workforce.

Dr Tzameret Rubin joined the Experts Panel: Innovation in Professional and Financial Services: The next Horizon explained the initial issues of collecting types of data to create a knowledge space that highlighted the categories of insurance areas across the industry. Tzameret addressed challenges and benefits of working across University Schools to gain different perspectives and resolve challenges in alternative ways. On ‘the next Horizon’ Tzameret’s predictions were that a person’s risk will be derived from various data points. Customers may own their own data in the future and gain value from it.

To see the full event and the discussions please go to https://www.youtube.com/watch?v=5OsFLKqCtEk&t=1s

The full programme details can be viewed here: https://ktn-uk.org/events/ukri-next-generation-services-challenge-national-showcase/