The United Kingdom has long been a leader in the European technology sector. Now, British Chancellor Jeremy Hunt has announced plans to place artificial intelligence (AI) at the center of the country’s Spring Budget. This move signals the UK’s commitment to becoming a world leader in both artificial intelligence and tech innovation.
Under the new budget, the UK government is investing heavily in deep learning and machine learning, with more than £500 million allocated to research and development in the AI space. This follows a trend of increased investment in the tech sector, with the UK now boasting the third highest amount of venture capital investment in the world, behind the US & China.
That investment in AI is likely to bring a number of benefits to the UK. For example, the British government is keen to leverage the latest advances in AI to provide better public services, from healthcare to transport. AI will also play a role in helping to spur economic growth across the UK, providing new opportunities for small businesses and entrepreneurs.
Beyond investment, the UK is also introducing a number of other measures to help foster the AI industry. This includes the establishment of a Digital Science Innovation Hub, which will help foster collaboration between industry, academia and government, and the doubling of the number of PhDs available in artificial intelligence every year.
In summary, the UK government’s commitment to putting AI at the centre of its Spring Budget reflects the country’s ambition to become one of the world’s top AI powerhouses. With increased investment, new initiatives and closer collaboration between industry, academia and the government, the UK is well placed to be at the forefront of the AI revolution.