Government funds AI project to tackle insurance fraud
It's just one of 40 projects being supported by the government from a £13 million pot
The UK government is backing a project by a collective of AI companies and the University of East London that aims to prevent fraud across the accountancy, insurance and legal services industries.
Software being developed by the collective, which includes AI firms Intelligent Voice and Strenuus, will use algorithms and voice recognition to understand emotion and linguistics, working out whether insurance claims could be fraudulent.
"Artificial intelligence and data are transforming industries across the world," said Business Secretary Greg Clark. "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."
The project developed by the three research and development organisations is just one of 40 being funded by the government from a 13 million pot.
All of these collaborative projects involve companies and research institutions working together to develop new technologies that can benefit 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 added. "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 benefiting from investment from the government include one that uses AI to respond to customer legal questions online, a drone imaging assessment tool that can work out how hard areas have been affected by flooding, and an accounting platform that assesses how businesses can cut expenditure.
"Through the Industrial Strategy Challenge Fund we are building on UK expertise in artificial intelligence and data science to deliver benefits that will be felt in the services sector and beyond," said UK research and innovation chief executive, professor Sir Mark Walport.
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