The announcement within this week’s budget builds on the AI Sector Deal, worth up to almost £1bn, launched earlier this year. As part of the Government’s modern Industrial Strategy, the sector deal set out how the UK will be at the forefront of the AI and data revolution.
Working with the Alan Turing Institute, up to £50m will be invested in new Turing AI Fellowships to help bring the best global researchers in AI to the UK. The funding will allow the UK to attract, retain and develop world leading research talent.
DCMS Secretary of State Jeremy Wright. said: “Through our modern Industrial Strategy we’re joining with industry to invest close to £1bn in AI, to position the UK as one of the best places in the world to develop and use this exciting new technology. This investment will help us to recruit and retain the best talent in AI and ensure that we are we are leading the way on research and development in the sector.”
The belief is that AI offers the potential to drive productivity up by up to 25% by 2035. The UK is already home to some of the biggest names in the business such as DeepMind and Government believes is well placed to seize the opportunities that AI brings.
Also announced at budget was a new review between the Office for AI and Government Digital Service (GDS) on how Government can use AI in new ways to drive improvements in public services and wider economic benefits.
