FLAIR - Financial Language AI Risk-assessment
Lead Participant:
NQUIRINGMINDS LIMITED
Abstract
**Need**
Business intelligence and risk management tools are commonplace and well established, serving everything from SMEs to blue chip international organisations. However, recent global events have clearly demonstrated that more active and intelligent risk management is essential. COVID, Ukraine, supply chain disruption and the ever present environmental crisis are examples of major geopolitical influences that have a ricochet effect on the underlying risk and consequently the financial bottom line of companies across the board. Intelligently managing risks posed by companies you are working with is an existential issue that impacts all the financial services (legal services, accountancy and audit, insurance, financial payments, compliance and planning) it is also necessary for the operational side of the business (sales planning, strategic marketing, competitive intelligence and reputational management)
**Opportunity**
The rapid development of large language models (LLMs), like many business, has the potential to seriously disrupt, but also creates and opportunity significant innovation.
FLAIR will embrace these LLM innovations, using the inhouse expertise of NquiringMinds and apply them to the business intelligence rand risk management sectors; augmenting, disrupting and innovating over the current company insights services offered.
It will achieve this though two parallel strategies
* FLAIR-UX: develop a chat based, LLM powered user interface that can wrap around business insights databases and data feeds, making the information easier to use and more accessible
* FLAIR-Insights : use LLM services and other AI trend and logic techniques overlaid and generating deeper insights on traditional business intelligence data feeds (companies house, accounts, contracts, investment feeds) but also applying this to public text data streams for example web feeds, news feeds and social media feeds
These innovations will be packaged as reusable APIs that can sold as a value added services both to traditional suppliers and to the end customers directly
Business intelligence and risk management tools are commonplace and well established, serving everything from SMEs to blue chip international organisations. However, recent global events have clearly demonstrated that more active and intelligent risk management is essential. COVID, Ukraine, supply chain disruption and the ever present environmental crisis are examples of major geopolitical influences that have a ricochet effect on the underlying risk and consequently the financial bottom line of companies across the board. Intelligently managing risks posed by companies you are working with is an existential issue that impacts all the financial services (legal services, accountancy and audit, insurance, financial payments, compliance and planning) it is also necessary for the operational side of the business (sales planning, strategic marketing, competitive intelligence and reputational management)
**Opportunity**
The rapid development of large language models (LLMs), like many business, has the potential to seriously disrupt, but also creates and opportunity significant innovation.
FLAIR will embrace these LLM innovations, using the inhouse expertise of NquiringMinds and apply them to the business intelligence rand risk management sectors; augmenting, disrupting and innovating over the current company insights services offered.
It will achieve this though two parallel strategies
* FLAIR-UX: develop a chat based, LLM powered user interface that can wrap around business insights databases and data feeds, making the information easier to use and more accessible
* FLAIR-Insights : use LLM services and other AI trend and logic techniques overlaid and generating deeper insights on traditional business intelligence data feeds (companies house, accounts, contracts, investment feeds) but also applying this to public text data streams for example web feeds, news feeds and social media feeds
These innovations will be packaged as reusable APIs that can sold as a value added services both to traditional suppliers and to the end customers directly
Lead Participant | Project Cost | Grant Offer |
|---|---|---|
| NQUIRINGMINDS LIMITED | £278,555 | £ 194,988 |
People |
ORCID iD |
| Nicholas Allott (Project Manager) |