AI & ML for planning, reasoning and prediction – Technical Feasibility into a use case for the global Financial Services Industry

This project will lay out the technical roadmap for the integration of AI/ML capabilities into 'WikiKore', a game-changing innovation that enables more sustainable, effective, inclusive and considered financial markets. This project brings together:

* The award-winning team at **Kore Labs**: 'Most Innovative Digital Product Governance SaaS Solution 2021'-Wealth and Finance International, and 'Innovate Finance Women in FinTech Powerlist 2020/21/22'

* **National Innovation Centre for Data**: Global hub to facilitate links between innovators, businesses and academia (funded under HM Government International R&I Strategy)

Innovate UK funding will enable the established team at Kore Labs to build on concept work completed in an IUK-funded project (10004689). This concept involves the use of collaboratively created open data sources that can be orchestrated and federated to enable interoperability and standardisation in complex data sets - similar in approach to Gaia-X (European initiative for secure and federated data infrastructure and services).

In this project, the consortium will conduct a technical feasibility into the implementation of AI & ML to enable advanced capabilities including planning, reasoning and prediction. This represents the 'next-generation' of AI capabilities and will position Kore and NICD ahead of the wave of novel applications of AI/ML.

Based on the WikiKore concept and work-to-date, Kore Labs has been selected by The Investment Association, the trade body and industry voice for UK investment managers, to participate in their 2022/3 fintech innovation accelerator, providing the industry partners and market access required to rapidly commercialise WikiKore.

A key obstacle to transparency, governance and fairness in financial markets is the non-standardised technical language used by the financial industry, which is beset with complex terminology, jargon and ambiguity, often incomprehensible to consumers.

WikiKore will be the first-ever all-encompassing digital encyclopaedia of taxonomy for the financial industry which is set to drive global product governance in financial services and address the key challenge of standardisation of technical language. This will set a new state-of-the-art, establishing new standards for efficiency and transparency in financial markets whilst directly addressing the aims of global regulators to achieve best outcomes for consumers and businesses worldwide.

In the medium-term, Kore will pass ownership of the Opensource Content of Wikikore to non-profit/academic/NGO partners such as NICD.