Artificial Intelligence is transforming industries at an extraordinary speed. But along with innovation comes significant financial, legal, and reputational risks. To address these challenges, Oldfield Consultancy has secured major funding to build a groundbreaking software solution designed to minimise risk in AI development.
The project has received support from SPRITE+, a consortium formed by leading UK universities, specialised in research related to privacy, security, trust and ethics in AI systems. The funding will enable Oldfield Consultancy to create the Minimum Viable Product (MVP) of a tool that could shape the future of responsible AI development across the UK and beyond.
What Is the Aim of This New AI Risk-Reduction Software?
AI technologies often fail due to:
- Biased datasets
- Regulatory non-compliance
- Data privacy violations
- Model inaccuracies
- Ethical concerns
- Poor documentation or untested workflows
Oldfield Consultancy’s upcoming software aims to solve these issues by offering:
✔ Automated AI Risk Assessment
Analyses models for compliance, fairness, bias, data privacy risks, and governance gaps.
✔ Financial Risk Prediction
Identifies potential financial exposure caused by faulty AI models before deployment.
✔ Reputational Risk Monitoring
Highlights ethical and brand-damaging vulnerabilities in AI systems.
✔ Compliance-Ready Reporting
Generates documentation aligned with global AI regulations, including the EU AI Act and UK AI Governance Framework.
Why SPRITE+ Funding Is a Big Deal
SPRITE+ is powered by the top UK universities, including:
- University of Manchester
- Lancaster University
- University College London (UCL)
- University of Southampton
- And other leading research institutions
Being selected and funded by SPRITE+ means:
- The project holds strong academic credibility
- It meets strict criteria for ethical innovation
- It aligns with research goals around AI safety and governance
This funding validates the importance of building an accessible, ethical AI risk-mitigation tool that industries desperately need.
How the MVP Stage Will Help the UK AI Ecosystem
The MVP will serve as the foundation for:
1. Early-Stage Testing and Validation
Organisations will be able to test the tool to identify vulnerabilities in their AI systems.
2. Industry-Academic Collaboration
The project will bring developers, researchers, and governance experts together.
3. A Scalable AI Governance Platform
Once the MVP is successful, Oldfield Consultancy can scale its features to help enterprises and regulators adopt safer AI practices.
Reducing Financial and Reputational Loss Through Smart AI Governance
Businesses lose millions every year because of AI-related failures—ranging from discriminatory algorithms to inaccurate predictions. With growing regulations worldwide, organisations need structured tools that enforce transparency, accountability, and reliability.
Oldfield Consultancy’s new software aims to become the gold standard for organisations seeking to deploy AI responsibly, without risking legal penalties or brand damage.
Final Thoughts
This funding marks a major milestone for Oldfield Consultancy and a significant step forward for the UK’s AI governance landscape. As the MVP moves from development to testing, industries can expect new ways to monitor, assess, and minimise the risks associated with artificial intelligence.
The collaboration with SPRITE+ not only strengthens the project but also positions the UK as a growing leader in trustworthy and ethical AI innovation.