Innovating Next Generation Services through Collaborative Design
Lead Research Organisation:
University of Sheffield
Department Name: Management School
Abstract
Professional service firms are facing increasing challenges from A.I .and machine learning technologies. Whilst these technological innovations are important for growth and productivity, how they are integrated into business practices and business m is of critical concern. This project focuses on the role that collaborative exploration about future uncertainties can play in the design and implementation of new A.I. technologies in accounting and legal services. The project focuses on the ways in which businesses can think about changing the way they work through a collaborative design model that considers current and future pathways for A.I. technologies and the broader, dynamic institutional landscape.
The project addresses the UK Industrial Strategy's Grand Challenge which calls for a consideration of how AI technologies can boost UK national productivity and growth. The project will focus specifically on synthesising insights from business model innovation, operations management, studies of professional service firms, developments in AI, and service design to understand how innovation in PSFs is adopted and assimilated. The project team will connect these multidisciplinary academic insights with the on-the-ground understandings and perspectives of innovators in professional services firms.
To achieve the aims, the project will maintain a focus on people's experiences of new products and services within mid-market firms which are particularly sensitive to technological change due to their size, the threat of competition, and resources. Rather than focusing solely on the technology itself, the research will generate insights into a human-centric role for innovation and the integration of transformative AI technologies. The research will look to undertake exploratory prototyping of solutions designed in collaboration with firms to enable a rapid generation and assessment of potential future applications of AI across the business model. This is critical in the objective of the project to broaden participation of those within firms in exploring challenges and strategies within professional service firms. Finally, the project seeks to translate research insights into multiple formats and media, addressing the different needs and demands of firms working within the challenges of rapid technological transformation.
Key to the project will be the exploration and identification of the main areas of 'threat' and 'opportunity' offered by the adoption of AI in accounting and law as well as analysing the potential barriers to AI-based business model innovation. The findings will be used to offer proposals as to how these might be addressed. Alongside the technological barriers, the research will seek to explore the institutional, regulatory and societal challenges that face PSFs. By integrating these objectives with co-creative practices the project seeks to provide strategies and business solutions for those at the coalface of AI and machine learning.
The project will be delivered through five work packages. These will include an initial phase exploring institutional factors, and opportunities and barriers, before designing strategies through direct collaboration with firms in 'design sprints' informed by the research perspectives of the project team. The final phase will synthesize the evidence and findings to generate important academic and practitioner outputs as well as dissemination through partner stakeholders and organisations. Through our close collaboration with the Managing Partners' Forum, the project will have access to mid-size firms across the 2 sectors identified. This research will deliver important academic insights into the ways in which a design thinking approach can expand our notion of innovation and seek to provide key recommendations that will shape how AI is implemented and how professional service firms can frame their responses to rapid technological change.
The project addresses the UK Industrial Strategy's Grand Challenge which calls for a consideration of how AI technologies can boost UK national productivity and growth. The project will focus specifically on synthesising insights from business model innovation, operations management, studies of professional service firms, developments in AI, and service design to understand how innovation in PSFs is adopted and assimilated. The project team will connect these multidisciplinary academic insights with the on-the-ground understandings and perspectives of innovators in professional services firms.
To achieve the aims, the project will maintain a focus on people's experiences of new products and services within mid-market firms which are particularly sensitive to technological change due to their size, the threat of competition, and resources. Rather than focusing solely on the technology itself, the research will generate insights into a human-centric role for innovation and the integration of transformative AI technologies. The research will look to undertake exploratory prototyping of solutions designed in collaboration with firms to enable a rapid generation and assessment of potential future applications of AI across the business model. This is critical in the objective of the project to broaden participation of those within firms in exploring challenges and strategies within professional service firms. Finally, the project seeks to translate research insights into multiple formats and media, addressing the different needs and demands of firms working within the challenges of rapid technological transformation.
Key to the project will be the exploration and identification of the main areas of 'threat' and 'opportunity' offered by the adoption of AI in accounting and law as well as analysing the potential barriers to AI-based business model innovation. The findings will be used to offer proposals as to how these might be addressed. Alongside the technological barriers, the research will seek to explore the institutional, regulatory and societal challenges that face PSFs. By integrating these objectives with co-creative practices the project seeks to provide strategies and business solutions for those at the coalface of AI and machine learning.
The project will be delivered through five work packages. These will include an initial phase exploring institutional factors, and opportunities and barriers, before designing strategies through direct collaboration with firms in 'design sprints' informed by the research perspectives of the project team. The final phase will synthesize the evidence and findings to generate important academic and practitioner outputs as well as dissemination through partner stakeholders and organisations. Through our close collaboration with the Managing Partners' Forum, the project will have access to mid-size firms across the 2 sectors identified. This research will deliver important academic insights into the ways in which a design thinking approach can expand our notion of innovation and seek to provide key recommendations that will shape how AI is implemented and how professional service firms can frame their responses to rapid technological change.
Planned Impact
The main impacts will be achieved through the active collaboration of investigators with staff at the Managing Partners' Forum, access to its 1000 members in professional services firms, and recruitment of its members and wider stakeholders who are leaders in firms across different sectors in the UK as participants in the project, as well as communication and collaboration to translate insights into action with others working in professional bodies, regulation and policy. We envisage the following impacts:
- Around 30 people who are partners and managers in 11 professional services firms who are directly involved in work package 2 will have opportunities and support from investigators to explore the potential impact of A.I. technologies on their work practices through participation in 'design sprints' through which potential solutions are developed, explored and assesssed. The impact of this is likely to be long-lasting beyond the duration of the project by being exposed to several strands of academic research; training in design thinking methods; and through active participation in the research including through sense-making workshops and participation in interviews before and after the design sprint. The outcomes will include potential strategies these firms can develop further; capacity building in innovation practices across firms enabling them to harness A.I. technologies within value propositions and business models; and knowledge exchange with other professional services firms and with academics from several fields.
- A much larger number of partners and managers in professional services firms using project outputs such as AI Innovation Barometer, Futures Scenarios and Service Innovation Toolkit will be equipped to explore the potential impact of AI technologies on their firm work practices, business models and innovation systems. These outputs and events will be co-produced and co-branded with the Managing Partners' Forum. The impacts will include enhanced capacity across the law and accountancy sectors to understand and respond to the dynamic institutional landscape and technological change.
- Policy makers in Government departments (especially BEIS (industrial strategy), DCMS (digital policy) and HMT (financial regulation) as well as policy advisers in regulators and professional bodies will have opportunities to understand, explore and assess the fast-changing landscape and understand the implications for government. This will be achieved through: (a) active participation of about 30 policy advisers including civil servants in a 'policy sprint' workshop to explore the implications of findings for systems innovation, and to co-create policy options together; (b) participation in future scenarios and roadmapping workshops; and (c) access to outputs such as reports and online tools. The impacts will include reframing current perceptions of productivity and thinking systemically and multi-dimensionally about the potential for AI in the law and accoutancy sectors and the institutional landscape.
- Leaders and staff in professional bodies representing, advocating and informing legal and accountancy firms will have opportunities to understand, explore and assess the fast-changing landscape and understand the implications of AI on their sectors. This will be achieved through: (a) active participation in a 'policy sprint' workshop to explore the implications of findings for systems innovation, and to co-create policy options ; (b) iparticipation in future scenarios and roadmapping workshops; and (c) access to outputs such as reports and online tools such as the AI Innovation Barometer. Impacts will include reframing current perceptions of productivity as well as thinking systemically and multi-dimensionally about the potential for AI in their sectors and the institutional landscape; as well as new dialogues and exchanges between and across organisations, firms and sectors.
- Around 30 people who are partners and managers in 11 professional services firms who are directly involved in work package 2 will have opportunities and support from investigators to explore the potential impact of A.I. technologies on their work practices through participation in 'design sprints' through which potential solutions are developed, explored and assesssed. The impact of this is likely to be long-lasting beyond the duration of the project by being exposed to several strands of academic research; training in design thinking methods; and through active participation in the research including through sense-making workshops and participation in interviews before and after the design sprint. The outcomes will include potential strategies these firms can develop further; capacity building in innovation practices across firms enabling them to harness A.I. technologies within value propositions and business models; and knowledge exchange with other professional services firms and with academics from several fields.
- A much larger number of partners and managers in professional services firms using project outputs such as AI Innovation Barometer, Futures Scenarios and Service Innovation Toolkit will be equipped to explore the potential impact of AI technologies on their firm work practices, business models and innovation systems. These outputs and events will be co-produced and co-branded with the Managing Partners' Forum. The impacts will include enhanced capacity across the law and accountancy sectors to understand and respond to the dynamic institutional landscape and technological change.
- Policy makers in Government departments (especially BEIS (industrial strategy), DCMS (digital policy) and HMT (financial regulation) as well as policy advisers in regulators and professional bodies will have opportunities to understand, explore and assess the fast-changing landscape and understand the implications for government. This will be achieved through: (a) active participation of about 30 policy advisers including civil servants in a 'policy sprint' workshop to explore the implications of findings for systems innovation, and to co-create policy options together; (b) participation in future scenarios and roadmapping workshops; and (c) access to outputs such as reports and online tools. The impacts will include reframing current perceptions of productivity and thinking systemically and multi-dimensionally about the potential for AI in the law and accoutancy sectors and the institutional landscape.
- Leaders and staff in professional bodies representing, advocating and informing legal and accountancy firms will have opportunities to understand, explore and assess the fast-changing landscape and understand the implications of AI on their sectors. This will be achieved through: (a) active participation in a 'policy sprint' workshop to explore the implications of findings for systems innovation, and to co-create policy options ; (b) iparticipation in future scenarios and roadmapping workshops; and (c) access to outputs such as reports and online tools such as the AI Innovation Barometer. Impacts will include reframing current perceptions of productivity as well as thinking systemically and multi-dimensionally about the potential for AI in their sectors and the institutional landscape; as well as new dialogues and exchanges between and across organisations, firms and sectors.
Organisations
- University of Sheffield (Lead Research Organisation)
- University of Manchester (Collaboration)
- Lancaster University (Collaboration)
- Litig (Collaboration)
- LOUGHBOROUGH UNIVERSITY (Collaboration)
- University of the Arts London (Collaboration)
- TheCityUK (Collaboration)
- Managing Partners Forum (Collaboration)
- NormannPartners (Collaboration)
Publications
Vorley T
(2020)
Artificial intelligence in the legal sector: pressures and challenges of transformation
in Cambridge Journal of Regions, Economy and Society
Trincado-Munoz F
(2023)
Digital transformation in the world city networks' advanced producer services complex: A technology space analysis
in Geoforum
Trincado-Munoza F
(2023)
Digital transformation in the world city networks' advanced producer services complex: A technology space analysis
in Geoforum
Van Meeteren M
(2022)
Rethinking the digital transformation in knowledge-intensive services: A technology space analysis
in Technological Forecasting and Social Change
| Description | The Industrial Strategy Challenge Fund and its 'grand challenge' of artificial intelligence (AI) is predicated on the existence of a substantial yet bridgeable gap between new and emerging AI technologies and their enormous potential for application. Our project approached the AI challenge as a 'design challenge' using mixed methods from social science research. By maintaining a focus on exploring potential futures in the present through design thinking and scenario planning helped uncover the existing and latent needs of PSFs by allowing participants to explore and assess the current state of and potential for AI and the expected trajectories of technological developments over the next few years. • Secondary research and analysis of market intelligence to identify opportunities for innovation in mid-sized law and accounting firms involving specific AI technologies was undertaken. A number of key findings are detailed in the report but are inclusive of the findings that fragmentation in the regulatory framework may impact on speed of adoption of AI or at least make it less clear where change is being driven from for the sector when the challenge will undoubtedly require collective action. • Advancement of academic and practitioner understanding about the factors influencing the update and use of AI technologies, qualitative, interview-based research into AI adoption in accountancy and law firms in England was conducted in 11 accountancy and 18 law firms in the mid-tier range. The report reveals the potential of artificial intelligence (AI) and related new technologies in the accountancy and law professions and provides evidence of progress in its adoption. There should be no doubt that developments over the past few years have created opportunities to reimagine how aspects of the work of accountants and lawyers are carried out. However, the report also contains warnings about the challenges and risks professional services firms (PSFs) are likely to encounter. • 'Design sprints' are intense, structured, workshop-based events during which a challenge or issue is explored leading to new insights and potential solutions. Our focus was on the potential and consequences of AI to impact significantly on the sector with a lens in the near future, 2030. Further, we used the lens of business model innovation, rather than product or service innovation, which can be restrictive in our experience. Through participating in the design sprints with firms, and capturing data during them such as making field notes, interviews, recording discussions, and reviewing documents produced, the research team were able to address our project objectives and research questions. This in turn informed future support available for these sectors in building capacity to become resilient next-generation services firms and maintain the UK's competitive advantage in this space. • The design sprint is a widely used innovation method Our toolkit aims to advance the AI readiness of professional services firms. The toolkit explains how to work through a series of tested and proven activities that challenge conventional understanding of the way professional services firms operate as businesses. In doing so, firms will be better able to respond to the challenges of AI readiness by considering plausible future scenarios, identifying opportunities for business model innovation and planning for the necessary changes. The core finding of the project is that our unique multi-disciplinary design sprint journey is a practical and useful way for organisations to address almost any business challenge. ** Additional funding streams ** Dilemmas of AI Development and Adoption: The Client/General Counsel Perspective • A project taking a customer-centric approach in exploring the opportunities and challenges associated with the adoption and use of legal technologies from the perspective of General Counsel (GC). A report draws on interviews with 45 stakeholders who have knowledge and experience of in-house operations and engagement with external law firms. • The findings highlight that the difficulties encountered by GC when adopting legal technologies, mirror many of the challenges that law firms face. However, this client-side perspective illuminates an important issue as law firms and their GC clients are independently adopting and implementing AI and technology-enabled solutions for different aspects of what are shared problems. • Design and implementation of a practitioner workshop. Emergence and evolution of next generation services • Using Social Network Analysis (SNA), we laid out here a pioneering attempt to capture innovation activities in the business service sector, with near-real-time data of knowledge categories at different layers of the economic ecosystem/fabric. This work can inform about sector coalescence across the Next Generation Service sectors. • Our work has significant implications for policy and practice by providing a near real time portrait of these fast moving technologies in two Next Generation Services sectors, namely Real Estate and Advertising. We are also extending this work to include other PSF sectors. The findings allow policy makers to map with finer granularity the technologies and business models that are rapidly changing. Strategic Priorities Review • This project aimed to assist the strategic direction of the NGS fund for the Commercial, HR Profession and Real Estate sectors through better understanding of the landscape into which investments are being made in order to effect the increased use of AI and associated technologies. Three briefing reports have been provided. Understanding the differential impacts of incubation on NextGenPSF start-ups • This project aims to understand how the nature of incubation shapes the ways that start-ups develop AI technologies as a means to augment and transform high-value professional services, and so that they can also engage with, and add value to, larger and established firms as technology solution providers. By analysing the incubation process the project generated insights and provided a report into another part of the ecosystem and aided understanding of the roles that incubation and acceleration can play in advancing the Next-Generation Services agenda for enhancing the application of AI within professional services. |
| Exploitation Route | The outputs of the current research have direct impacts on firms who have been engaging with the project through in-depth interviews, a scenario planning workshop (where practitioners and academics worked on devising and considering the impacts of potential future scenarios for AI on the sector) and a series of design sprints. The findings are being communicated through academic papers, academic and practitioner conferences, as well as other events where project members have directly communicated results to firms and stakeholders. The project has produced a White Paper with recommendations about interventions, systemic changes and forms of support that would enhance the uptake and use of AI technologies in professional services firms, particularly for the delivery of high value services. This is the focus of the flagship event. The project has secured additional funding due to the impact of the global pandemic. A variant of the project will continue until September 2021, the intended purpose of which is to: • A report and papers will provide anonymised analysis of the firms and participants involved in the next phase of NextGenPSF. • Based on research insights associated with the Industrial Strategy Challenge funded project, an NGS White Paper will draw on academic and applied perspectives from innovation, management, and design research to understand the opportunities and challenges associated with innovation in the professions. • The project team is eager to help firms convert insights into action. To ensure we avoid the toolkit is 'left on a shelf' a number of avenues are being explored for its commercialisation. • A design sprint for policymakers with a view to assist in developing policy around the grand challenge of AI. |
| Sectors | Creative Economy,Digital/Communication/Information Technologies (including Software),Education,Financial Services, and Management Consultancy,Government, Democracy and Justice,Other |
| URL | http://www.nextgenpsf.co.uk/ |
| Description | The professional services sector is a significant contribution to the UK economy, with an estimated value in excess of £245 billion in 2016. Innovation in the professional services, particularly in relation to new technologies such as Artificial Intelligence (AI) and other data technologies represent a significant opportunity for further growth. The emergent nature of these opportunities are often associated with reducing costs, improving efficiency and delivering higher value, higher quality service. For many professional services firms the challenges associated with the adoption and use of technology are particularly acute, not least because of the unknowns from the perspective of the firm. If professional services firms are to make the most of AI and data technologies there is a need to establish new practices and develop new ways of working. In this instance the innovation is about changing the business model as much as it is the adoption of new technologies. However, changing the business model coupled with the adoption of new technologies can be a daunting prospect, and this challenge is addressed by the Industrial Strategy Next Generation Services Challenge programme. The core project deliverable is an AI Readiness Toolkit. This will be available as a free-to-access pdf and/or wiki from a range of platforms. The toolkit translates design thinking into a journey of practical steps that, along the way, inspire insights and ideas over business models, future scenarios and the impact on business operations and performance. Our work has involved: 1) focusing on the needs of firms that may not have the resources to develop their own technologies; 2) combining and integrating research into business model innovation, professional firms, operations management and scenarios; 3) following in the footsteps of others that have applied design thinking to business problems; 4) drawing on academic research that contextualises, analyses and critiques technology adoption, business models, innovation and design; and 5) iterating the approach over multiple workshops involving a range of firms, professional bodies, regulators and other stakeholders. A variety of engagements activities were held to promote the project and have led to firm engagement. Activates which the project team were the host, such as MPFs AI technology Summit in November 2019 and our webinar series in the summer of 2020 were both activities which resulted in firms engaging with sprints and workshops. The project team also participated in events led by others such as Birmingham Tech Week and Accountancy Age events, again resulting in firms approaching the team to explore how they can benefit from working with the project. The project now transitions into its final stages. Key areas of focus are the development of papers and dissemination activities including the Flagship conference and the commercialisation of the toolkit. |
| First Year Of Impact | 2020 |
| Sector | Other |
| Impact Types | Economic,Policy & public services |
| Description | An Examination of Real Estate and Advertising Industries Report |
| Geographic Reach | National |
| Policy Influence Type | Implementation circular/rapid advice/letter to e.g. Ministry of Health |
| Impact | This briefing note demonstrates a proof of concept that can be tailored across any Next Generation Service industry, over time and geographically. We present the ability not only to identify the key technologies that are critical in the Real Estate and Advertisement industries in the UK, but more importantly pointing out what are that 'remote' clusters of knowledge that currently have weaker presence within each industry, and where tighter links could be beneficial. Policy interventions could then be geared to promote these links, i.e., push to the core to further develop these industries. By identifying the key knowledge sets for these industries, we were able to find those clusters of companies, derived from the knowledge space, that coalesce with other industries and therefore can be transferable from one industry to another. For instance, proximity is almost self-evidently related in the Banking and Insurance industries, but the appearance of the AI General Purpose Technology could mean that perceived disparate industries such Gaming and Real Estate can equally be linked through shared knowledge sets. Last, although we did not test investors' knowledge space for this proof of concept analysis, we have the ability to expand our analysis to map 'where is the money' with respect to the fields of knowledge expertise. That is, identifying local 'skills' and 'fundings' with respect to knowledge space can show if there is a gap in specific regions, that can be addressed by the government, for specific type of investment (accelerators, early stage, etc.) |
| Description | Dilemmas of AI Development and Adoption: The Client/General Counsel Perspective |
| Geographic Reach | National |
| Policy Influence Type | Implementation circular/rapid advice/letter to e.g. Ministry of Health |
| Description | Landscape Mapping Report |
| Geographic Reach | National |
| Policy Influence Type | Influenced training of practitioners or researchers |
| Description | Report from Industry Engagement relating to potential ISCF Next Generation Services - HR Profession |
| Geographic Reach | National |
| Policy Influence Type | Implementation circular/rapid advice/letter to e.g. Ministry of Health |
| Description | Report from Industry Engagement relating to potential ISCG Next Generation Services Fund for Communications Advisory Sectors |
| Geographic Reach | National |
| Policy Influence Type | Implementation circular/rapid advice/letter to e.g. Ministry of Health |
| Description | Understanding Incubation in Next-Generation Services |
| Geographic Reach | National |
| Policy Influence Type | Implementation circular/rapid advice/letter to e.g. Ministry of Health |
| Title | A Collaborative AI Readiness: Design Toolkit for Professional Services Firms |
| Description | Artificial intelligence (AI) is already exerting an influence on almost every aspect of human affairs. In this context, managing AI-driven innovation is a significant challenge for the economy in general, particularly in the services sector which makes up some 80% of the UK economy. Amongst services sector firms, professional and business services provide a globally renowned UK export as well as a vital domestic function. However, professional services firms have been slow to take up the kinds of innovation associated with AI, not least because of a perceived potential for such technologies to change traditional business practices fundamentally. In order for professional services firms to countenance procuring and implementing AI and other advanced digital solutions, they must examine the implications for their day-to-day working reality. AI is not a technology that can be plugged into existing systems and utilised without changes to organisational practices. Professional services firms must therefore think through the consequences of AI for their business models, consider the differential impact it may have on employees at various levels in the organisation and review how they function in relation to clients, partners, competitors and regulators. Overall, this process is known as 'AI readiness', and a central aim of the AI Readiness toolkit is to advance the capability of professional services firms to prepare for AI-driven innovation. The toolkit explains how to work through a series of tested and proven activities that challenge conventional understanding of the way professional services firms operate as businesses. In doing so, firms will be better able to respond to the challenges of AI readiness by considering plausible future scenarios, identifying opportunities for business model innovation and planning for the necessary changes. The toolkit provides an authoritative review of the current landscape, a powerful lens through which to view the future of professional services firms and a unique set of collaborative design tools founded on robust design practice and tested with representative firms from around the UK. At the heart of the toolkit is a series of activities designed to identify areas where AI can add value to the professional services firm. It helps those in leadership roles, and their colleagues responsible for innovation and business development, build their knowledge of the barriers to AI readiness and how they might be overcome, and to understand what needs to change within the firm to realise the potential that AI represents. The toolkit's collaborative design section consists of 17 methods, some of which include specially designed tools and templates, a guided design journey process and a set of reports that explore the AI readiness ecosystem for professional services firms, as it exists now and in three detailed future scenarios. It is presented in the form of a journey of discovery divided into four phases - examine, explore, develop and reflect - and 11 steps. Each step offers a series of questions to consider, directs users to the related method or methods in the toolkit and identifies optimal points at which to engage with the detailed reports provided. This represents a logical sequence derived from the toolkit production team's knowledge and expertise, enhanced by the insights of professional services firms who have taken part in test workshops. While there are technical challenges to be addressed in the adoption of AI and related technologies, issues of human attitudes and behaviours are equally - if not more - important. In light of these issues the toolkit was produced with a multi-disciplinary approach covering the technical and organisational challenges, business implications and demands for innovation that confront professional services firms today. |
| Type Of Material | Improvements to research infrastructure |
| Year Produced | 2021 |
| Provided To Others? | Yes |
| Impact | It is apparent from the workshops carried out in the testing phase of the AI Readiness Toolkit that participating firms experience immediate positive impacts, and expect to secure further benefits in subsequent in-house implementation of ideas generated through its use. Participants reported gaining insight into the role of intangible factors such as firm culture, and were able to identify the beginnings of a robust approach to future skills needs. The time and space created by the collaborative design methodology was highly valued, as was the input from the mixed user/participant nature of the groups specified in the methodology. Participants reported a positive impact from the democratising nature of the format, including building better channels for involving client voice in future discussions. Individual firms also described range of specific impacts such as identifying opportunities to reduce costs, get to know their client base better and target new markets. Proposed innovations included better data use to improve efficiency and client experience, enhanced relationships with external technology providers and routes to possible collaboration with non-competitors who are seeking to develop the same capabilities. Moreover, all participants reported improving their understanding of internal changes needed to implement specific innovations, along with greater clarity on the risks such innovation carries. |
| URL | http://www.aireadiness.co.uk |
| Title | Business Model Innovation & AI readiness Toolkit |
| Description | The Business Model Innovation (BMI) Toolkit was created to help businesses understand the different ways in which they create and capture value from their activities and to think about innovation more broadly, beyond their offering. While many businesses think about innovation in terms of their products, processes and services, business model innovation is about creating and capturing value from different aspects of the business model. The Toolkit is informed by research into how firms approach questions of Business Models and Business Model Innovation for growth and was developed following extensive engagement with Innovate UK & KTN and a broad range of firms in different sectors. The BMI Toolkit conceptualises the Business Model into three distinct dimensions, specifically the offering, the experience and the configuration, with each comprising multiple domains. The offering refers the product, process or service that a company offers. It is the key dimension whereby companies create value for their customers and is therefore the main focus of innovation activities within most companies. Experience refers to how businesses engage with their customers or end users and how they engage with the business. It includes aspects such as interaction, brand and channel to capture the multiple ways in which customers experience their product, process or service. Configuration refers to how a business is organised to not only create but also capture value from its customers. It includes aspects such as the profit model, network, structure and transactions. The BMI Toolkit comes in the form of a deck of cards consisting of a series of questions that are structured around the three business model dimensions and that are meant to (1) help businesses understand and articulate their business model and (2) stimulate businesses to think about how they can innovate different aspects and dimensions of their business model. Business Model cards relate to the former, asking questions that promote discussion about how the business model works and how the business creates value to develop a shared understanding. Business Model Innovation cards relate to the latter, asking questions that explore opportunities for business model innovation by stimulating discussion about where the businesses model has strengths to exploit and weaknesses to improve, distinguishing between short, medium- and long-term priorities. A typical question to help businesses understand their offering is 'how does your business create value and enhance the performance of your customers?'. However, while innovating the offering is important, going beyond the product, process or service is essential for businesses to set themselves apart from their competitors in today's increasingly complex and competitive business environment. Typical questions to help businesses understand the experience dimension of their business model are, for example, 'how do your customers interact with your business (i.e. physically, digitally or both)?' and 'how does your branding reflect what your business does?'. Innovating the experience can help companies develop a unique competitive advantage, with innovation in this area being increasingly prompted by the digitalisation of business. Typical questions to help businesses understand this dimension of their business model are, for example, 'how and where do you carry out transactions with your customers?' and 'what, if any, other businesses is your business dependent upon?'. Innovating the configuration can help companies leverage their strengths, reduce costs and develop new revenue streams, and represents a key opportunity in an increasingly connected and digitised business environment. The BMI Toolkit is designed to be used in workshops, team meetings or away days, and is about exploring how businesses can innovate to create value and grow. The cards are colour coded to different dimensions of the business model: Purple (Offering), Yellow (Configuration) and Green (Experience). By challenging the assumption that innovation is about new products, processes and services, the Toolkit encourages businesses to think about how they can innovate to grow. The Toolkit was adapted for the NextGenPSF project to suit the nature of activity of professional services firms. Besides adapting the questions on the cards to focus specifically on services, a series of Artificial Intelligence (AI) cards were added to prompt professional services firms to think about how AI can enhance and/or optimise and/or automate different aspects of service delivery. This is intended to prompt firms in the professional services sector to think about AI adoption and how this can help them innovate to create the next generation of services. |
| Type Of Material | Improvements to research infrastructure |
| Year Produced | 2019 |
| Provided To Others? | Yes |
| Impact | The Business Model Innovation Toolkit has been tested and refined extensively with companies in different sectors and has served as a basis for both research projects and industry engagements via business model innovation workshops. The version of the BMI Toolkit that was adapted for the NextGenPSF project proved especially useful in stimulating professional services firms (legal and accountancy firms in this context) to think about AI adoption. This is because adopting AI challenges the existing business models of professional services firms, particularly their revenue model (i.e. the way they operate to make money). Therefore, adopting AI is not a straightforward task but requires companies to think about what and how they need to change in order to accommodate the new AI technologies. The BMI Toolkit was used in workshops that were delivered based on the design sprint methodology. The workshops used academic insights and the BMI Toolkit to helps firms develop practical solutions incorporating AI technologies. So far, two multi-firm design sprints were delivered as part of the project, engaging a total of nine legal and accountancy firms. These offered participants the opportunity to explore AI adoption by thinking about and challenging their current business models. In addition, two bespoke firm-based sprints were delivered where participating companies had the opportunity to explore AI adoption by engaging with the BMI Toolkit in more depth and work on specific firm challenges. The workshops received positive feedback from the firms, with those participating in the bespoke sprints planning to take forward the solutions developed through the workshop. The workshops will continue to engage with firms in the sector to promote AI adoption more widely. The ultimate goal is to refine the design sprint methodology around the BMI Toolkit to enable firms to organise and deliver the sprints on their own. |
| URL | https://innovationcaucus.co.uk/knowing-your-business-model/ |
| Title | Next Generation Services Ecosystem: A Knowledge Space Analysis |
| Description | Using real-time data, we harvested data from start-ups, scale-ups and corporates from advanced professional services industries using paid data platforms providers. A preliminary search identified a population of 271,431 service companies, from which we obtained 41,272 records from companies across regions (North America (38.8%), Europe (39.8%), Asia (9.24%), Middle East and Africa (7%), Latin America (2%), Australia (1.2%)). We then processed the obtained data, which is multi-layered in nature. That is, it encompasses information regarding industries, technologies, investors, and geographical location about the companies. From this available information, we have particularly focused in the data regarding industries and technologies, and the intersection/coupling between both. The connections between companies' characteristics and their knowledge (technologies and industries) have allowed us to create a topological space that combines elements of knowledge space and industry space. Thus, combining Social Network Analysis techniques, we have been able to build a map of the companies' ecosystem as well as some metrics that allow us to understand the relevance of knowledge and industries. Through the representation of the companies' knowledge and industry space is also possible to appreciate the intertwined characteristics of both services and technologies, how they combine each other and what industries/technologies are more central. Thus, we have been able to answer questions such as, how might the adoption of AI-related technologies change the structure of the service industry space? What technologies are coalescing to different advanced services producers? In addition, the geographical information in our dataset has also allowed us to probe regional differences in the degree of sector coalescence, between technologies and industries. When analyzing the industry space in different regions, the number and relations between knowledge and industry categories changes from region to region. These are crucial aspects for mapping the digital transformation and its influence in different service application subsectors. Although our analytical approach is not exempt from limitations, our findings offer important insights from the intricate system of relations between technologies and industries. Also, it gives important information regarding the hotspots for different industries, especially focused on North America and Europe, and it has the potential to relate other companies characteristics (e.g., investors). |
| Type Of Material | Data analysis technique |
| Year Produced | 2020 |
| Provided To Others? | No |
| Impact | In unpacking the emergence of clusters of knowledge in different industries in the service sector, our research makes two principal contributions: (1) it delves into sector coalescence to anticipate relationships between clusters of industries and technologies, and (2) characterizes the ongoing digital transformation of the service sector. First, our findings advance the understanding of the penetration of a set of technologies, in particular AI-related technologies, into different sectors (e.g., Finance, Property, Advertising, etc.). By utilizing innovative methods and metrics, we have aimed to nurture the innovation agenda by positioning which technologies are in the core of each industry and which have the potential to advance its transformation. In addition, we move beyond the acknowledged limitations of patent data in already existing research, by utilizing near real-time datasets. Given the fast-changing nature new technologies in the advanced services sector, the findings highlight the value of a more iterative and near real-time understanding of the expression and diffusion of advanced technologies. Second, our findings present compelling insights related to the application sub-sectors and their transformation (i.e. Finance to FinTech, Legal to LegalTech, Property to PropTech, etc.). In doing so, we mapped the sectoral penetration of distinctive knowledge and the position that this plays in the companies' ecosystem. Further, we aim to highlight potential geographical variation, and thus explain the heterogenous/multifaceted nature of knowledge/industry and its role in the emergence of new services across borders. |
| Description | Oxford Brookes University and Lancaster University |
| Organisation | Lancaster University |
| Department | Lancaster University Management School |
| Country | United Kingdom |
| Sector | Academic/University |
| PI Contribution | As the PI for Innovating Next Generation Services through Collaborative Design project, Professor Tim Vorley has supported the project through management of the design, conduct, and reporting of the research project. The project is a Collaborative Design Challenge with three intersecting phases drawing on the individual expertise of 6 distinct partners. Tim, in his role as PI has, and continues to manage, monitor and ensure the integrity of the relationship. The Sheffield partner provides cross-cutting expertise across the project, focusing on business model and maintains a focus on people's experiences to unlock understanding of the potential use of AI in Professional Service Firms (PSFs). The team further supports the administrative planning, firm recruitment, interviewing and delivery of the 'design sprint'. |
| Collaborator Contribution | The Lancaster team plays an integral role in the research for Innovating Next Generation Services through Collaborative Design. To conduct this ambitious and fast-paced programme of work, the team of investigators combine the necessary multi-disciplinary expertise, interdisciplinary aptitude, experience of running and participating in relevant and significant projects using collaborative design and futures approaches, and predisposition toward co-production. Lancaster have taken a primary lead in conducting interviews and focus groups with PSFs already innovating with AI. In particular, this Work Package (WP) aims to understand the practices of innovating firms using AI in the two sectors and co-create understandings of the opportunities and barriers with input from the sector. |
| Impact | Book of cases The book of cases provides a summary of key insights from research into current uses of Artificial Intelligence (AI) in accountancy and law firms in England. It is designed to act as a stimulus for firms as they consider how AI may be used as they develop their future business plans and consider the role of technology in changing both internal business processes and client offerings. The cases can also be used to inform bespoke design sprints for a firm if one or more approaches seems relevant to future business plans. Each case is relatively brief and provides an overview of the key features of the approach. They are anonymous and synthetic - drawing from multiple examples in order to illustrate the range of approaches and issues associated with different uses of AI. Book of approaches The book of approaches provides a summary of key insights from our research into approaches taken when deploying artificial intelligence (AI) in accounting and law firms in England. The approaches are anonymous examples of how the firms we have studied have gone about developing their AI readiness. We present six exemplary approaches. Each approach deals with one or more of the challenges of deploying AI in accounting and law firms. Firms often use more than one of the approaches documented, but the book is not intended to be a list of approaches that must be followed. Instead, the book is a stimulus for firms as they consider ways of responding to the challenges they face in becoming AI ready. As such, firms might choose the approach(es) that is/are most closely related to the challenge(s) they face. The book of approaches is being written and edited through a collective process led by Lancaster University Management School. The team is able to offer more detailed discussion of each of the cases. |
| Start Year | 2018 |
| Description | Oxford Brookes University and Litig - Uplift project 4 Dilemmas of AI Development and Adoption. |
| Organisation | Litig |
| Sector | Charity/Non Profit |
| PI Contribution | Litig is a membership group for the Legal IT community established circa 15 years. The Sheffield team have presented about the project to the membership which has resulted in a number of scoping interviews, 3 participants at the scenarios workshop and a firm specific design sprint. We are also partnering with them on the uplift project to anchor research in the perspective of the legal IT leader and use their insight to both shape the research and provide connections across the industry. |
| Collaborator Contribution | The perspective of the legal IT community within professional services firms is a key part of the research, both in terms of subject matter and also guidance. Whereas on the other main project, Litig is a stakeholder group to be consulted, the opportunity is more embedded as a named partner group. This means that there will be some resources within the bid that can be used specifically to support better integration, recognizing that Litig is largely a self-organising, volunteer led group, but in this way collective voice and influence can be brought to bear on the research - and in turn future interventions. Similarly, Litig's involvement will help to ensure greater impact from the research findings by being so close to the target audience. Critically, where members have previously supported existing research activities, every effort will be made to reduce duplication and extend the existing evidence base, as intended by the uplift funding mechanism. |
| Impact | The project gained funding in October 2019 and started in Q2 2020. Initial steps were taken to commence and further establish the relationship with The CityUK, although the programme of work and the collaboration were disrupted throughout the pandemic. Following interviews in February 2020 an RA joined the project team, led by Fraser McLeay at the University of Sheffield. The collaboration has not been extended in the wake of the pandemic, although the research has progressed. |
| Start Year | 2020 |
| Description | Oxford Brookes University and Loughborough University Uplift Project 2 |
| Organisation | Loughborough University |
| Department | School of Business and Economics |
| Country | United Kingdom |
| Sector | Academic/University |
| PI Contribution | As the PI for the emergence and evolution of next generation services project, Professor Tim Vorley has supported Loughborough through management of the design, conduct, and reporting of the research uplift project and for managing, monitoring and ensuring the integrity of the relationship. |
| Collaborator Contribution | The project is built on relational analyses of quantitative datasets of start-ups and incumbents that allows longitudinally probing of the technology confluence driving digital transformation through related variety amongst service firms. Using the Dealroom and Crunchbase datasets permits a deeper level of analysis compared with more traditional economic-geographical analysis of clusters and entrepreneurial ecosystems in relevant cases worldwide. The project is situated at the intersection between evolutionary economic geography and innovation systems research. The research partnership forged builds on work undertaken within the Next Generation Services challenge. |
| Impact | The project gained funding in October 2019. The relationship with Loughborough has build developed a new programme of work under the ISCFs Next Generation Services research programme to explore and synthesize collaborative working across the ISCFs programme. Following interviews in March 2020 an RA was appointed and led on the data curation and analysis supported by the wider team (i.e. Vorley, Van Meeteren, and Rubin). The project has produced a number of reports, and has several articles under revision and review - current versions are on the project webpages as reports and working papers. |
| Start Year | 2019 |
| Description | Oxford Brookes University and Managing Partners' Forum |
| Organisation | Managing Partners Forum |
| Sector | Private |
| PI Contribution | As the PI for Innovating Next Generation Services through Collaborative Design project, Professor Tim Vorley has supported the project through management of the design, conduct, and reporting of the research project. The project is a Collaborative Design Challenge with three intersecting phases drawing on the individual expertise of 6 distinct partners. Tim, in his role as PI has, and continues to manage, monitor and ensure the integrity of the relationship. The Sheffield partner provides cross-cutting expertise across the project, focusing on business model and maintains a focus on people's experiences to unlock understanding of the potential use of AI in PSFs. The team further supports the administrative planning, firm recruitment, interviewing and delivery of the 'design sprint'. |
| Collaborator Contribution | The Managing Partners' Forum (hereafter, "the Forum") brings together professional firm leaders to share ideas on strategic leadership and management excellence. Our goal is to support the growth, productivity and prosperity of the UK's largest business sector. This involves connecting and creating value in our own community, and also acting as an independent voice of professional services to Government, and providing direct access to policymakers. As formal co-investigators on the project, a key strength of this collaboration is the Forum's high level of engagement with over a thousand leaders of PSFs of all sizes active across the UK. The Forum provides expert guidance on the strategies and priorities of firms; give the research team access to sector leaders; encourage participation in the project through surveys, interviews and action research projects; share emerging project insights to obtain real time feedback; and support the pathways to impact. Through this multi-level, dynamic engagement with professionals from the sector, the project will co-produce insights grounded in the realities of PSFs, driving the potential for transformation across law and accounting and for impact. The project team continues to work with Managing Partners' Forum, with 2 members sitting on the advisory board. |
| Impact | Design Sprint - The Forum's engagement with the sector is a channel for dissemination of the project objectives and its intended outputs. Through its communication channels, the Forum has secured attendance of firms at the first 'design sprint'. Roundtable roadshow - Managing Partners Forum commenced organised an invitation-only roadshow from October 2019 for the leadership teams of local firms, their clients, and local intermediaries to hear from and inform the project researchers and other experts. The content of each roundtable was based on the latest project insights, with cities in each UK region hosting at distinct stages of the project. Technology Summit 11th November 2019; In addition to the roundtables, the Forum's annual member-only Technology Summit in London explored wider technology and adoption issues. This member-only annual event was attended by over 50 mid-tier PSFs and heard Professor Tim Vorley and James Faulconbrudge present the goals and deliverables of the AI adoption research project, the findings from the deep dives and the findings from the design sprints. NextGenPSF Final Flagship Conference (March 2021) The NextGenPSF project held its final Flagship Conference associated with the core project to share and disseminate insights from the project. The event brought together leading practitioners and professionals from across legal and accounting firms and other stakeholders engaged with the professions. The event was hosted by Richard Chaplin, Founder & Chief Executive Managing Partners' Forum and Co-Investigator of NextGenPSF, and showcased the outputs of the project. The research 'deep dives' have provided insight into the sector, and working with firms the project team has co-created a series of design sprints and futures workshops to support professional services firms on the journey to enable firms to explore current and future business challenges in a very practical way. The journey combines business model innovation, futures and scenarios, story boards and model-making, with an innovation roadmap as the primary output. Hence Fast-track Innovation™ is the Conference and Campaign theme. |
| Start Year | 2018 |
| Description | Oxford Brookes University and Normann Partners |
| Organisation | NormannPartners |
| Country | Sweden |
| Sector | Private |
| PI Contribution | As the PI for Innovating Next Generation Services through Collaborative Design project, Professor Tim Vorley has supported the project through management of the design, conduct, and reporting of the research project. The project is a Collaborative Design Challenge with three intersecting phases drawing on the individual expertise of 6 distinct partners. Tim, in his role as PI has, and continues to manage, monitor and ensure the integrity of the relationship. The Sheffield partner provides cross-cutting expertise across the project, focusing on business model and maintains a focus on people's experiences to unlock understanding of the potential use of AI in PSFs. The team further supports the administrative planning, firm recruitment, interviewing and delivery of the 'design sprint'. |
| Collaborator Contribution | Gerard Drenth, partner at NormannPartners is an expert in scenario-planning and systems thinking to better anticipate change in the world of business. Gerard has provided his expertise to facilitate the development of both the design sprints and scenarios for the project. |
| Impact | Futures workshop about AI in professional services firms 15th July 2019. Scenarios are plausible stories about how futures might unfold. We created scenarios for mid-sized firms in the law and accountancy sectors to have strategic conversations in the present and develop strategies to identify or respond to opportunities relating to AI developments. Together in the workshop we explored the key uncertainties identified, and combined these with participants' perspectives to craft scenarios. The result of the workshop is three draft scenarios which we are planning to take forward and eventually publish and share in workshops with firms, regulators and broader stakeholders with the Managing Partners Forum. |
| Start Year | 2018 |
| Description | Oxford Brookes University and The University of Manchester |
| Organisation | University of Manchester |
| Country | United Kingdom |
| Sector | Academic/University |
| PI Contribution | As the PI for Innovating Next Generation Services through Collaborative Design project, Professor Tim Vorley has supported the project through management of the design, conduct, and reporting of the research project. The project is a Collaborative Design Challenge with three intersecting phases drawing on the individual expertise of 6 distinct partners. Tim, in his role as PI has, and continues to manage, monitor and ensure the integrity of the relationship. The Sheffield partner provides cross-cutting expertise across the project, focusing on business model and maintains a focus on people's experiences to unlock understanding of the potential use of AI in PSFs. The team further supports the administrative planning, firm recruitment, interviewing and delivery of the 'design sprint'. |
| Collaborator Contribution | CI Bruce Tether is Professor of Innovation Management and Strategy at Alliance Manchester Business School (MBS) within the University of Manchester. Bruce is an expert on innovation in services, as well as innovation using design (design methods / design thinking). His research foci also include professional service firms. Bruce is contributing to the project through his understanding of professional services, how innovation in services and service happen, and how design methods can be used to identify and enact opportunities for innovation, particularly in "tasks" in the context of professional services. |
| Impact | The collaboration between the two institutions and more widely, the project team, has contributed to the progress of the project through expertise and experience in both the development and the dissemination of the design sprints. |
| Start Year | 2018 |
| Description | Oxford Brookes University and TheCItyUK - Uplift project 1 Understanding the differential impacts of incubation on NextGenPSF start- ups |
| Organisation | TheCItyUK |
| Country | United Kingdom |
| Sector | Private |
| PI Contribution | The City UK is the national representative body for financial services and associated professional services (meaning accountancy and legal services). Presently the research team is working through their COO to leverage relationships within their membership base to inform the scoping interviews and existing knowledge base in the market on the core subjects of AI in professional services and incubators. |
| Collaborator Contribution | In respect of the uplift project - Understanding the differential impacts of incubation on NextGenPSF start- ups, having firm connections and industry support for the research is critical, and the The CityUK's endorsement of the project is providing access. This is quite targeted in nature with the partner advising us on market activity such that we can target research activities effectively; whilst the outputs will be of interest to the whole sector, only a handful are currently active in the incubation space for developing next-gen services and hence we need to be efficient with our industry engagement. |
| Impact | The project gained funding in October 2019. Initial steps were taken to commence and further establish the relationship with The CityUK, although the programme of work and the collaboration were disrupted throughout the pandemic. Following interviews in February 2020 an RA joined the project team, although the project encountered major staffing issues during the pandemic with the local project lead leaving the University. A report was produced and is available on the project website, and in late 2021 a new RA was appointed to support further analysis and now an article is under review. |
| Start Year | 2020 |
| Description | Oxford Brookes University and University of the Arts London |
| Organisation | University of the Arts London |
| Country | United Kingdom |
| Sector | Academic/University |
| PI Contribution | As the PI for Innovating Next Generation Services through Collaborative Design project, Professor Tim Vorley has supported the project through management of the design, conduct, and reporting of the research project. The project is a Collaborative Design Challenge with three intersecting phases drawing on the individual expertise of 6 distinct partners. Tim, in his role as PI has, and continues to manage, monitor and ensure the integrity of the relationship. The Sheffield partner provides cross-cutting expertise across the project, focusing on business model and maintains a focus on people's experiences to unlock understanding of the potential use of AI in PSFs. The team further supports the administrative planning, firm recruitment, interviewing and delivery of the 'design sprint'. |
| Collaborator Contribution | Our project approaches the AI challenge as a 'design challenge' using mixed methods from social science research. By maintaining a focus on exploring potential futures in the present through design thinking and scenario planning this helps uncover the existing and latent needs of PSFs by allowing participants to explore and assess the current state of and potential for AI and the expected trajectories of technological developments over the next few years. Scenario planning involves the creation of a set of plausible, challenging, useful and relevant future contexts that an intended strategy or value creating systems design might find itself in. Very simply, scenario planning is a powerful methodology for navigating under uncertainty and adapting to unknown futures. Run Design Sprints with Firms to Develop Strategies. Led by CI Professor Lucy Kimbell. Define, agree and plan 4-6 'design sprints' ie action research projects with mid-sized firms recruited via the Forum. These will use different methodologies but will share the characteristics of a 'design sprint': a time-limited project in which the research team, led by one RA, works closely with a group of people from one or more firms enabling them to be active co-researchers developing strategies to seize the potential of AI. |
| Impact | Futures workshop about AI in professional services firms 15th July 2019. Scenarios are plausible stories about how futures might unfold. We created scenarios for mid-sized firms in the law and accountancy sectors to have strategic conversations in the present and develop strategies to identify or respond to opportunities relating to AI developments. Together in the workshop we explored the key uncertainties identified, and combined these with participants' perspectives to craft scenarios. The result of the workshop is three draft scenarios which we are planning to take forward and eventually publish and share in workshops with firms, regulators and broader stakeholders with the Managing Partners Forum. Our project has developed an approach to involving participants in the research which combines aspects of social science approaches and traditions, concepts and approaches from design research. We have developed a format we call a 'design sprint' through which we involve participants from firms in the two sectors we are studying. The design sprint involves engagement with firms (either an individual firm, or several at once). It takes the form of pre-meetings/briefing, followed by a one day workshop attended by people from the firms and run by academics from the research team, followed by sharing an output with participants and a follow-up conversation. The approach we are taking integrates concepts and insights from several fields of research, specifically studies of business models, studies of professional firms, operations management, service design, and futures/foresight. During the course of the one-day workshop, participants from the firms engage in discussions (some of which we record) and produce outputs through which they anticipate future professional services, interactions with clients, and ways of organising their firm, enabled or enhanced by AI. These outputs include annotated frameworks about future business models and change, models of future client interactions and firms, storyboards and drawings. This is data we analyse alongside the discussion about them in the workshop setting. Analysing these discussions and outputs gives us insights into the possibilities and barriers to adoption of AI in professional services firms. |
| Start Year | 2018 |
| Description | 2019 - New York Fathomless Futures: Algorithmic and Imagined |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Established in 1989, SASE owes its remarkable success to the determination to provide a platform for creative research addressing important social problems. Throughout its three decades, SASE has encouraged and hosted rigorous work of any methodological or theoretical bent from around the world based on the principle that innovative research emerges from paying attention to wider context and connecting knowledge developed in different fields. The presentation raised the profile of the project in policy circles. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://sase.org/event/2019-new-york-city/ |
| Description | AI for Services: Academic Research Virtual Exchange |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | In partnership with University of Oxford, Loughborough University and Oxford Brookes University, KTN AI for Services team hosted a virtual exchange webinar to disseminate the latest academic research on how service industries can make use of AI in accountancy, insurance and law. The event was particularly relevant for professionals working in the accountancy, insurance and legal sectors, Artificial Intelligence & Data entrepreneurs, data scientists and engineers looking to follow an evidence-based approach to make better business decisions. The interactive session offered businesses the opportunity to learn about the Next Generation Services Challenge funded research project outcomes and discuss ways to apply research findings in their business strategy and activities. The academic research will be presented in short digestible summaries streamlined into three areas: Data, Ethics, and Explainability; Entrepreneurship Ecosystems; Operationalising AI-Enabled Business Models |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://ktn-uk.org/events/ai-for-services-academic-research-virtual-exchange/ |
| Description | AI in English Law workshop : Nikolaos Aletras (The University of Sheffield) |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | Local |
| Primary Audience | Professional Practitioners |
| Results and Impact | Recent advances in Natural Language Processing (NLP) and Machine Learning (ML) provide us with the tools to build predictive models that can be used to unveil patterns correlating to judicial decisions. This can be useful, for both lawyers and judges, as an assisting tool to rapidly identify cases and extract patterns which lead to certain decisions. In the talk, Nikolao Aletras presented his work on data-driven legal judgement prediction using NLP and ML techniques focusing on the European Court of Human Rights. More specifically, he presented traditional feature-based models and more sophisticated neural networks for violation and case importance prediction. Finally, he presented an analysis on whether predictive models are biased towards demographic information via data anonymization. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://www.law.ox.ac.uk/events/ai-english-law-workshop-nikolaos-aletras-university-sheffield |
| Description | Accountancy Age Roadshows |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Accountancy Age, launched in 1969, is a key publication for accountants working in practice in the UK. Celebrating 50 years of Accountancy Age, a series of roadshows reinforcing the growing relationship between accountancy and technology were organised and ran throughout 2019. The Next Generation Professional Services Firms (hereafter, "NextGenPSF") team were invited as panelists to nationwide events where the panel was discussing 'How will the future accountant feature in the business landscape'. The team were also attendees at roadshows where the focus was on people and future technology. The Roadshows ran in Bristol, Edinburgh, Birmingham, Manchester and London. Attendance at the event not only provided a platform for key networking in the targeted industry but also generated interest in participation of the project. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://twitter.com/hashtag/AARoadShow?src=hashtag_click |
| Description | Birmingham Tech Week |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Industry/Business |
| Results and Impact | Birmingham Tech is a not-for-profit community initiative (CIC) which aims to raise the profile of the Birmingham and West Midlands tech scene. We do this by helping tech and digital businesses successfully scale by providing them with valuable knowledge, insight and support. We do this through a number of carefully crafted scale-up initiatives, showcase events and original content. Yiannis Maos, Founder of Birmingham Tech Week, said: "The week was founded on encouraging collaboration, celebrating regional success stories and inspiring organisations to get involved in all aspects of technology. Given the year we've had, it has never been so important for us to showcase Birmingham Tech. Hopefully the week will give people and businesses a sense of optimism, arm them with the knowledge to navigate these uncertain times and help them create the foundations that will allow them to thrive." The week is free-to-attend and gives unparalleled access to experts and thought-leaders who will be sharing knowledge on subjects such as business culture, customer experience and how to start and scale up a tech business. NextGenPSF ran a large scenarios workshop in both 2020 and 2021 |
| Year(s) Of Engagement Activity | 2020,2021 |
| URL | https://birmingham.tech/about/ |
| Description | Blogs written for project website |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Two blogs were produced for the NextGenPSF website and publicised via Twitter. The blogs were written by the NextGenPSF team. Future of the PS Firm by Martin Spring was written and posted June 2020. The role of incubator and accelerator programmes in developing next generation professional services. Written by Professor Tim Vorley, Dr Jorge Martins, Dr Paul Taylor, or Dr Chay Brooks and posted in August 2020. The intended purpose of these was to disseminate information relating to the activities and research of members of NextGenPSF, via the website, and to a wider audience via Twitter. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://sites.google.com/sheffield.ac.uk/nextgenpsf/newsblog |
| Description | Data Science and Law Lab event, Maastricht University |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The Maastricht Law and Tech Lab ('The Lab') aims to produce cutting-edge research, to offer innovative education, and to build a creative community of researchers, teachers, students and practitioners at the intersections of law, technology, data science and knowledge engineering. The Lab hosted an Oxford Union-style debate on the meaning of intelligence, humans and machines on "The Future of AI in Law". The conference commenced with an overview of the history of AI and Law in legal publications: which topics have been discussed in the field of AI in Law? This introduction is followed by presentations, which are guided by four questions: Panel 1. What can AI mean for the Law?; Panel 2: How to conduct AI in Law research?; Panel 3: Case studies beyond case law; Panel 4: Value-driven AI in Law research. Presenters used their research on prediction, text mining, machine learning, and legal forecasting to illustrate what AI in Law research can mean, what the potential is, and what are the limitations of AI in Law research. The examples will be about court cases (Panel 2) as well as other application domains (Panel 3), for example consumer protection and law enforcement. Ethical aspects and fair algorithmic decision making will be discussed from a computational perspective. The Keynote will address re-identification in datasets. In a recent publication, it was found that 99.98% of Americans would be correctly re-identified in any dataset using 15 demographic attributes. The results raise questions whether GDPR requirements can be met and seriously challenge the technical and legal adequacy of de-identification. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://www.maastrichtuniversity.nl/events/law-tech-lab-launching-event |
| Description | Derisking Conveyancing Through AI. |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Policymakers/politicians |
| Results and Impact | Design Sprint in conveyancing sector for 27 participants The focus of the sprint was how AI could address known issues in conveyancing. Pre-work was set for participants to annotate a visualisation they have of conveyancing to show where they think the problems are. The focus was not on firms, or indeed regulators, but on all the different actors potentially. There were a lot of facilitated sessions where participants were active, shared their knowledge. |
| Year(s) Of Engagement Activity | 2020 |
| Description | Employment Outlook on the Future of Work |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Policymakers/politicians |
| Results and Impact | On 25th April at the Work Foundation in London, James Faulconbridge used insights from the NextGenPSF project to contribute to a panel discussion on the OECD's 2019 Employment Outlook report which focuses on the future of work. The report highlights the need to focus more on working with new technologies such as AI and less on the jobs that might be lost -the OECD's research suggests it is how tasks associated with particular jobs will change that is of greatest significance. This aligns well with the initial findings of the NextGenPSF project. In his contribution, James focused on the change process associated with AI adoption. He highlighted the importance of examining what it means to work with AI, and how this applies to professionals as much as lower skilled workers. James highlighted the need to examine the way firms handle the transitions involved. In our project this relates to the way the work practices of accountants and lawyers change. In particular this raises questions about how firms can enable the transitions involved through training, support for learning in practice as part of day-to-day work and active management of the structures of teams and work relationships. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://www.oecd-ilibrary.org/employment/oecd-employment-outlook-2019_9ee00155-en |
| Description | Engagement with The Forums law and accountancy firm contacts |
| Form Of Engagement Activity | A magazine, newsletter or online publication |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | The Forum sent 1,057 emails regarding dissemination and engagement of both the project and specifically the roundtables to leaders of professional services firms across the UK on 4 October 2019. Personal follow ups (phone, email etc) in late October /early November to c250 from the list based in or near relevant cities for the initial sessions (Sheffield, Cambridge and Birmingham). |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://www.mpfglobal.com/artificial-intelligence/ai-adoption-project.aspx |
| Description | HARP Seminar, presented by Prof Tim Vorley & Prof Bruce Tether: "Innovating Accountancy: Exploring the role of AI and the future profession" |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Local |
| Primary Audience | Professional Practitioners |
| Results and Impact | This seminar introduced the Next Gen Services project - an Industrial Strategy funded project on the future of the professions - including rationales for its existence, its aims and intended impacts. The focus was on relevant insights about how AI is shaping the future of accountancy, and the relevance for accounting education and the skills of future professionals. We will also discuss how we consider accountancy firms should prepare for the future by developing "dynamic capabilities". |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://www.henley.ac.uk/events/harp-seminar-presented-by-prof-tim-vorley-prof-bruce-tether-innovati... |
| Description | Home Buying and Selling Group (HBSG) |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Home Buying and Selling Group (HBSG), which is an active body of 100+ conveyancing stakeholders from across the conveyancing process. Following a design sprint within the space of conveyancing the research collated was presented to the board as an effective sounding board to inform next steps. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://homebuyingandsellinggroup.co.uk/ |
| Description | ICAEW Annual HEI Conference |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Each year all HEI Partners in Learning are invited to attend ICAEWs annual Higher Education Conference held in January, usually at the headquarters of ICAEW, this year the project was approached for a slot at the online event. The conference allows academic partners to hear from industry, share insights on teaching and research, gain updates from the profession and network with others in academia. Innovating Accountancy: Exploring the role of AI and the future profession This seminar will introduce the Next Gen Services project - an Industrial Strategy funded project on the future of the professions - including rationales for its existence, its aims and intended impacts. We will focus on relevant insights about how AI is shaping the future of accountancy, and the relevance for accounting education and the skills of future professionals. We will also discuss how we consider accountancy firms should prepare for the future by developing "dynamic capabilities". |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.icaew.com/learning-and-development/partners-in-learning/pil-resources-for-the-aca-icaew-... |
| Description | ICAEW training programme |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | The training video will be open to all of the ICAEW membership body. Additional video material was develop in late 2021 |
| Year(s) Of Engagement Activity | 2021 |
| Description | Launching Next Generation Services |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Media (as a channel to the public) |
| Results and Impact | Launching Next Generation Services. Our project launch with our primary concern around the human (i.e non-technical) aspect of implementing new AI technologies in mid-sized accounting and legal services firms. Professor Tim Vorley and Professor Lucy Kimbell presented at BEIS, London. The NextGenPSF project aims to help those driving the AI agenda in MMFs to get to a better place quicker. The blog on the NextGenPSF website https://sites.google.com/sheffield.ac.uk/nextgenpsf/newsblog is designed to strength our online presence, for information purposes and to encourage mid-market legal or accountancy firms to participate in the research or design sprints. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://sites.google.com/sheffield.ac.uk/nextgenpsf/newsblog#h.p_3-NaTX5BA8o7 |
| Description | Law Firms, New Technologies and Innovation |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Industry/Business |
| Results and Impact | Presentation given by Professor Bruce Tether regarding the project to Manchester LawTech. The initiative had a dedicated aim to publish research and create curriculum content that is focused purely on the successful use of technology in the legal sector. The presentation to the group was used to inform them regarding the project objectives and was aimed at eliciting interest in collaboration with the project through future design sprints. Q&A highlighted the areas of interest to the firms in attendance. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Legal Geek Conference 2019 |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | The Legal Geek Conference attracted attendees from 40 countries and even trended on Twitter. Attendance at the conference was to facilitate networking with industry peers, expand the knowledge of the team and to promote the project to other attendees. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Legal Hackers |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Industry/Business |
| Results and Impact | Professor Tim Vorley, as one of the key members of the project team, discussed the aims of the project and how law and accountancy professional service firms can get involved. The focus of the project was on addressing how AI technologies can be successfully embedded within such disciplines, through analysing the challenges and needs of stakeholders and developing key strategies from this analysis. The format of the event was networking at the beginning, then a presentation and more chance to network afterwards. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://www.eventbrite.co.uk/e/nextgen-psf-adopting-ai-technologies-in-law-and-accountancy-tickets-9... |
| Description | MPF Forum - AI Technology Summit re: AI readiness |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | Technology Summit, 11th November 2019, Managing Partners' Forum Conference; presented 'Is your firm 'AI ready'? Does it matter? What's really happening?'. The core of the Forum's 2019 Technology Summit was an update on the project from the team of researchers at four leading business schools (from The University of Sheffield, The University of Manchester, Lancaster University and University of the Arts London). The Forum's annual member-only Technology Summit in London explored wider technology and adoption issues. This event was attended by over 50 mid-tier Professional Service Firms and heard Professor Tim Vorley and James Faulconbridge present the goals and deliverables of the AI adoption research project, the findings from the deep dives and the findings from the design sprints. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://sites-pmi.vuturevx.com/8/1175/august-2019/the-technology-summit--is-your-firm--ai-ready---do... |
| Description | Next Gen Services Project Assembly |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Professor Tim Vorley provided an overview of the NextGenPSF project (see the above video), alongside John Armour (University of Oxford) and Alistair Milne (Loughborough University) . The presentations highlighted clear links across the projects relating to the blurring of boundaries at the frontiers of the professions, as well as emphasising the importance of business models and business model innovation. Critically for the NextGenPSF project we recognised that the threat to mid-tier legal and accounting firms comes from above (i.e. the investment of the Big 4 and Magic Circle) as well as below (i.e. the start-ups disrupting through accounting, audit and legal-tech). Another important outcome from the day was the emphasis on data. While frequently referred to as the 'new oil', it is imperative that the critical and value added of the refining process not be overlooked. Jeni Tennison (CEO, Open Data Institute) raised the importance of data as infrastructure and the need to ensure that the appropriate institutions are in place to ensure the future competitiveness of data intensive business and sectors. This challenge will be addressed directly by the NextGenPSF project. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Next Gen Services through Collaborative Design Project - Flagship Conference Fast-track Innovation |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | A conference for sector leadership teams and relevant intermediaries will take place in Remo on 17 March 2021. The event details will be provided in the 2022 submission. However, the promotion and therefore web and social media analytics largely took place in 2021 submission. Details below . . . .. The Forum organises a popular one-hour 'Re-Tuning your Firm' show every Friday at 9am with delegate polls, brief presentations from experts, video interviews of those behind top news stories, and a fast-paced panel session. The show will form part of the campaign in 2021. NUMBERS LinkedIn Campaign - details |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://sites.google.com/sheffield.ac.uk/nextgenpsf/ngs-flagship |
| Description | NextGenPSF Advisory Board |
| Form Of Engagement Activity | A formal working group, expert panel or dialogue |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | NextGenPSF is fortunate to have an advisory board which constitutes a wide variety of sector experts, whos knowledge and investment of time has served as a sounding-board throughout the project. The advisory board provides a safe harbour, allowing the team to test drive their own strategic thinking and access expertise or connections which we may not have readily access via other means. The board uses their extensive networks for insights and for dissemination of the projects activities. |
| Year(s) Of Engagement Activity | 2021 |
| Description | NextGenPSF Design Sprints |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | To understand the future potential of AI in the law and accountancy firms services sectors, the project uses the lens of business models, which provides a 'blueprint' for how a business operates and captures value. A design thinking approach to business model innovation provides a distinctive perspective and ultimately competitive advantage for firms. Our proposed project approaches the AI challenge as a 'design challenge' using mixed methods from social science research. During the initial stages of the NextGenPSF project we are collaborating with Professional Service Firms through design sprints. These highly interactive and collaborative workshops allow professionals working in law and accountancy firms to rethink their value propositions and improve their AI readiness. The sprints encouraged the participants to consider three scenarios that could reshape the legal services and accounting landscape by 2030 and to map out potential tools to embrace technological innovation. The aim of the sprints is to consider the barriers and opportunities to the adoption of AI in the respective sectors and to encourage proactive strategic thinking towards future horizons |
| Year(s) Of Engagement Activity | 2019,2020 |
| URL | https://www.youtube.com/watch?v=fMBxeGon0xo |
| Description | NextGenPSF Futures Workshop about AI in professional services firms |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | 30 friendly stakeholders from across accountancy and law firms, including clients; regulators; technology providers and others, with different stakes in, and perspectives on, topics relating to AI technologies in professional services attended the workshop. Key uncertainties identified in the NextGenPSF teams research, were combined with the participants perspectives to craft scenarios. Through bringing together a diverse mix we unlocked different assumptions about technological change, business models and professional services. The workshop generated 3 scenarios which the team have taken forward and will publish and share in future workshops with firms, regulators and broader stakeholders. Scenarios are plausible stories about how futures might unfold.The scenarios we have created for mid-sized firms in the two sectors will support strategic conversations in the present and enable development of strategies to identify or respond to opportunities relating to AI developments. |
| Year(s) Of Engagement Activity | 2019 |
| Description | NextGenPSF Scenario workshops |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | One work strand aimed to explore the potential futures facing mid-sized legal and accounting services firms, using 'scenario planning' as an approach. The main activities included: identifying important uncertainties facing these firms in the future, through an analytical and deliberative process; developing scenarios of 2030 in written and illustrated form; and developing and testing ways for people in legal services and accounting firms to explore the strategic implications of the scenarios through workshops held in 2019-21. The scenarios are presented in written and illustrated form. Each 2030 scenario has a narrative describing a plausible future world in 2030 in which professional services firms might find themselves operating, and a person-centred story written from the perspective of a professional in 2030, looking backwards. Each is accompanied by an original illustration, and a poster summarising the characteristics of that future world. Additionally, a table enables comparing across the three scenarios. Two methods aimed at scenario users in legal and accounting services firms are offered. The first supports professionals in a firm to explore the strategic implications of the three scenarios, or test an existing (AI or technology) strategy against them. The second enables professionals in a firm to bring the future into view by asking participants to create and discuss future news (digital) media artefacts, enabling meaningful discussion about uncertainties and revealing hidden assumptions. Most users found the biggest benefit of scenarios is that they allow for difficult conversations to take place in a safe environment, namely in imagined futures. In respect to our 2030 scenarios, we propose these outcomes: ? For leaders: Using scenarios can help focus thinking, sharpen strategies and make better decisions. ? For policymakers and regulators: Using scenarios can help gain a better understanding of potential futures for a key group of firms in the UK's largest business sector. ? For professional bodies: Using scenarios can help identify how best to support members. |
| Year(s) Of Engagement Activity | 2019,2020,2021,2022 |
| Description | NextGenPSF Twitter account |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | A project twitter account was set up in December 2018. The account reaches a large number of people quickly through tweets, retweets and enables easy promotion of our research activities. Posts on Twitter are public and as such the reach of the conversation is much greater than other social media accounts such as Facebook or LinkedIn. Tweets are short but the twitter community is large: the platform has 320 million monthly active users. The NextGenPSF account currently has 163 followers with a wider variety of professionals from the legal and accounting sector, including legal tech, tech providers, education practitioners. Tweets from the NextGenPSF page cover a range of activities the project is involved in. These include directing traffic to our website through a recent blog entry, highlighting papers from the project and raising the profile of the projects activities such the design sprints and webinars. Examples May 10th 2019 tweet informing of the Advisory Board meeting had 2,507 impressions, 62 Engagements and 2.5% engagement rate. July 15th 2019 tweet regarding the scenario planning workshop had 1,239 impressions, 36 engagements and 2.9% engagement rate. July 19th 2020 tweet sharing a podcast had 158 impressions, 2 engagements and 1.3% engagement rate. June 21st 2020 tweet promoting the Webinar saw 1,171 impressions, 77 engagements and 6.6% engagement rate. |
| Year(s) Of Engagement Activity | 2019,2020 |
| URL | https://twitter.com/NextGenPSF |
| Description | NextGenPSF Webinar Series - Technology during and beyond the crisis: Shaping the future of professional services |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | Weekly Webinar series 04.06.20 - 30.07.20 with 234 different attendees at the live events and 510 views on YouTube (as of 09.09.20). Event and webinar recording shared by speakers on LinkedIn (Claire McGourlay 237 views as at 27.07.2020) Amidst the Covid-19 crisis professional service firms priority was to adapt to the new normal, changing their ways of working, taking operations online. The ability and agility with which firms embraced digital technologies and virtual working was unprecedented. Ensuring that firms realise and leverage the advantages effectively adopting and implementing technologies to enable and augment new ways of working can be challenging. However, where successful such technologies may represent the first steps in the wider transformation of the firm. Navigating this process requires understanding the value of data and potential technologies, such as artificial intelligence, to the future of Professional Services Firms. The Next Generation Services project team, in partnership with KTN, offered an informative lunchtime programme focused on the organisational and operational opportunities and challenges associated with becoming AI ready. The series of nine weekly webinars, delivered by leading academics and professionals, drew on their experience to share their own perspectives on the opportunities and challenges facing the future of professional services firms. Q&A followed the varied but informative presentations about how technology is changing the way we work and how this will continue in a post Covid world. NextGenPSF Webinar Series webinar 1 - Now is the time for tech: The future of PDFs beyond the crisis Speakers Shamus Rae - Chief Executive Officer, Engine B April Brousseau - Global Lead, Clifford Chance Sue Daley - Associate Director, Technology & Innovation Tech UK Bruce Tether - NextGenPSF Co-I, Manchester University Session Chair: Richard Chaplin - Managing Partners' Forum Attendees - 115 YouTube views - 123 NextGenPSF Webinar Series webinar 2 - From Enduring to Adapting: Embedding change in PSF Speakers James Faulconbridge, Lancaster University Carlo Cordasco, University of Sheffield Marcus Scott, The City UK, Kirstin Gillon, ICAEW Bob Booth, IBM Session Chair: Isabel Parker, Panoram Attendees - 86 YouTube views - 59 NextGenPSF Webinar Series webinar 3 - Emerging from Crisis & Seizing opportunities:Tech & firm future Speakers Derek Southall, Founder and CEO, Hyperscale Group Isabel Parker, Non-Exec Director, Panoram Becky Shields, Partner, Kingston Smith Sophia Adams-Bhatti, Head of Strategy and Policy, Wavelength Martin Spring, NextGenPSF Co-I, Lancaster University Session Chair: Lucy Kimbell, NextGenPSF Co-I, UAL Attendees - 94 YouTube views - 54 NextGenPSF Webinar Series webinar 4 - Adopting AI in PSF :An International Perspective Speakers Sebastian Hartmann KPMG Giulio Coraggio DLA Piper Italy Tzameret Rubin Loughborough University Dr. Dimitrios Tsarapatsanis University of York Stephen Denyer The Law Society Session Chair: Bob Booth IBM Attendees - 69 YouTube views - 67 NextGenPSF Webinar Series webinar 5 - The Realities of Adopting AI in Mid-Tier Firms Speakers Harry Iliffe Enterprise Account Director, Professional Services Capita Workplace Technology Mark Day, Chief Executive Officer, Law South Group Limited Siân Ashton, Client Service Transformation Partner, TLT Catriona Wolfenden, Innovation Manager, Weightmans Karim Derrick , Product and Innovation Director, Kennedys Session Chair: James Faulconbridge, NextGenPSF Co-I, Lancaster University Attendees - 80 YouTube views - 52 NextGenPSF Webinar Series 6 - Incubators, Incubation and Nurturing Technology in the Professions Speakers Laura Collins Scott, Create+65, Clifford Chance Ville Simola, CEO, Maria 01 Sophie Martinetz, Founder, Seinfeld Professionals Hersh Perlis, Director, Legal Innovation Zone Session Chair: Jorge Martins, NextGenPSF Co-I Sheffield University Attendees - 63 YouTube views - 24 NextGenPSF Webinar Series 7 - Preparing & educating the next generation of lawyers and law workers Speakers Joanna Kingston Davies, Chief Operating Officer, Jackson Lees Group Andrea Marshall, Resource Coordination Manager, Freshfields Stuart Whittle, Partner, Weightmans Jonathan Patterson, Managing Director, DWF Ventures John Haskell, Senior Lecturers in Law, University of Manchester Session Chair: Claire McGourlay, Professor of Legal Education University of Manchester Attendees - 40 YouTube views - 59 NextGenPSF Webinar Series 8 - Opportunities & Dilemmas of IT Adoption in Professional Services Speakers James Sullivan, Head of Legal & Company Secretary, Monzo Bank Neil Bruce, Vice President & Group Counsel, American Express Ify Okoli-Watson, Assistant General Counsel, Thomson Reuters Alistair Maiden, CEO, SYKE Session Chair: Fraser McLeay, Professor of Marketing, University of Sheffield Attendees - 46 YouTube views - 41 Next Gen PSF Webinar Series 9 - What will the future of professional services firms look like? Gerard Drenth, Partner, NormannPartners Lucy Kimbell, NextGenPSF Co-I, University of the Arts London Stephen Ward, Director of Strategy and External Relations, Council for Licensed Conveyances Fabian Wallace-Stephens, Senior Researcher, RSA Session Chair:Hilary Smyth-Allen, Knowledge Exchange Fellow/Senior Policy Lead, University of Sheffield and West Midlands BPFS Attendees - 35(Approx) YouTube views - 18 Outcome/Impact As a consequence of the pandemic the previously arranged and intended project activities were significantly impacted. The webinars were devised by the PI to engage, inform and network with key stakeholders. Time and effort was invested to get people to sign up for the webinars through blogging, email mailing and social media. Quality traffic was engaged throughout the series as targeted audiences signed up and attended. Stakeholder participation took place throughout the series through the interactive Q&A. A number of leads were generated from the webinars leading to engagement and participation with future sprints. |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://sites.google.com/sheffield.ac.uk/nextgenpsf/webinars |
| Description | POMS International Conference 2019 |
| Form Of Engagement Activity | A talk or presentation |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | Production and Operations Management Society 2019 conference was hosted by the University of Sussex Business School and sponsored by the University of Cambridge's Judge Business School and Kingston Business School. Martin Spring presented 'Artificial intelligence in professional service operations: insights from law and accounting'. |
| Year(s) Of Engagement Activity | 2019 |
| URL | https://www.poms2019.com/ |
| Description | Participation in NextGenPSF Partner, Managing Partners Forum, webinar series |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Industry/Business |
| Results and Impact | NextGenPSF team participated in a number of the MPFs engagements. Over 750 people from 400+ firms in 18 countries have registered for these free one-hour panel-based live webinars with polls each Friday at 9am UK time, designed for the leadership team at professional services firms worldwide to help them re-tune every aspect of their operations. Scenario planning 06.04.2020 - Gerard Drenth Gerard Drenth introduces scenario planning, a methodology for decision-making under uncertainty, in particular how scenarios relate to forecasting, how scenarios can change mindset and perspectives, and how scenarios are used in strategy and policy making. Adapting new technologies 29.04.2010 - Professor James Faulconbridge Professor James Faulconbridge provides an update on an ongoing Government-funded research project to help mid-sized law and accountancy firms prepare for an AI tsunami. Aftershocks & Opportunities 29.05.2020 - The poll explored the extent that participants were in agreement with ten trends from 'Aftershocks and Opportunities - Scenarios for a Post Pandemic Future', a new publication from Fast Future. Episode 4, 24.07.2020 - Carlo Cordasco, Research Associate, Sheffield University Management School The panel on 24 July comprised: Carlo Cordasco, Research Associate, Sheffield University Management School; Matthew Streets, Senior Executive Partner - Managing Partner, Foster + Partners; Francesca Lagerberg, Global Leader - Network Capabilities, Grant Thornton International; and Ed Turner, Managing Partner, Taylor Vinters Episode 5, 31.07.2020 - Professor Tim Vorley The panel on 31 July comprised: Daniel Harrison, Deputy Director, Small and Medium Enterprise Policy Team, Department for Business, Energy & Industrial Strategy; Professor Tim Vorley, Dean & Pro Vice-Chancellor, Oxford Brookes Business School; Emma Jones MBE, Founder & Chief Executive, Enterprise Nation; Jeremy Beard, Managing Partner, Haysmacintyre; Francesca Lagerberg, Global Leader - Network Capabilities, Grant Thornton International |
| Year(s) Of Engagement Activity | 2020 |
| URL | https://managementlibrary.pmint.co.uk/mgmtlib/dashboard/dashboard |
| Description | Podcast |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | International |
| Primary Audience | Professional Practitioners |
| Results and Impact | The Next Gen PSF project has come a long way, uncovering a range of challenges and opportunities for AI adoption in legal and accounting services and supporting numerous firms in their technology adoption journey. In this podcast, Cristian Gheres Co-I shares insights from the projects and talks about the future of AI in professional services. To hear more about the pressures and challenges of digital transformation and the implications of AI for the business models of PSFs, listen to the podcast below. |
| Year(s) Of Engagement Activity | 2021 |
| URL | https://sites.google.com/sheffield.ac.uk/nextgenpsf/newsblog |
| Description | Presentation of project at Oxford conference on AI in law |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Professional Practitioners |
| Results and Impact | Attendance at the conference had three main objectives; to build and enhance a professional network in the AI field with industry peers and professional services; to expand the knowledge and understanding of Professional Service Firms activities around AI; to present the project to others to gain their buy in to engage with the project. |
| Year(s) Of Engagement Activity | 2019 |
| Description | The first 'Design Sprint' @ Work Foundation |
| Form Of Engagement Activity | Engagement focused website, blog or social media channel |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | The first of a series of design sprints with legal services and accounting firms took place at the Work Foundation in London. The first sprint was run with a mixture of 'friendly' firms, academics from partners Industrial Strategy Challenge Fund's research group and funder representatives. The objective of the first sprint was to gain valuable insight from the projects key stakeholders into the development and shaping of the scenarios and design sprints. The first session at the Work Foundation involved 6 firms who engaged in workshops exploring a series of targeted topics through guided activities and group discussion. These included sessions that enabled the participants to map out and reflect on their firms' existing business models, consider the need for, challenges and opportunities of business model innovation to support the adoption of AI-based technologies, immerse themselves into future potential scenarios involving AI and consider how these may impact or reshape their current activities, reimagine service delivery and discuss the future of professional services. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Treasury Management Event |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | Regional |
| Primary Audience | Industry/Business |
| Results and Impact | Lead on content dissemination through Accountancy Age team. Speaker slot - 30 mins on project. |
| Year(s) Of Engagement Activity | 2019 |
| Description | Value Proposition and Customer Journey Mapping Exercise |
| Form Of Engagement Activity | Participation in an activity, workshop or similar |
| Part Of Official Scheme? | No |
| Geographic Reach | National |
| Primary Audience | Industry/Business |
| Results and Impact | 25.09.20 - A one hour Value Proposition and Customer Journey Mapping Exercise with the Group General Counsel of a real estate organisation with 501-1,000 employees. 16.10.20 - A one and a half hour Value Proposition and Customer Journey Mapping Exercise with the, same as above, Group General Counsel of a real estate organisation with 501-1,000 employees. 15.12.20 - A 30 minute consultation about how to design a practitioner workshop with the Chief Operating Officer and General Counsel of a financial services organisation with 11-15 employees. |
| Year(s) Of Engagement Activity | 2020 |