£17m boost for the UK’s booming artificial intelligence sector
Monday February 27th, 2017
Leading experts to carry out major review on the development of artificial intelligence in a sector which could add an additional £654 billion to the UK economy.
New measures to support Britain’s world-leading AI sector are set to be announced as part of a bold Digital Strategy to boost growth and deliver a thriving, outward-looking digital economy that works for everyone.
Accenture has estimated AI could add in the region of £654 billion ($814 billion) to the UK economy by 2035. So the Strategy, due to published by Culture Secretary Karen Bradley MP, builds on the plan set out in the Government’s Industrial Strategy to capitalise on Britain’s existing strengths and back new technologies where the UK can take a lead.
Britain already has a competitive advantage in Artificial Intelligence, with some of the world’s most innovative AI companies based here and a rich ecosystem of investors, employers, developers and clients. It is a fast-growing area for research and commercial investment, including by major global digital companies, and was identified as one of the technologies that could be supported through the Government’s new Industrial Strategy Challenge Fund and the Challenger Business Programme.
AI is already making a huge positive difference in people’s lives – every day. This ranges from the obvious uses, such as smartphone voice and touch recognition technology and virtual digital assistants like Siri, to less well-known benefits such as online customer services which make it easier to get help when things go wrong and fraud detection tools used by banks to protect against theft. It also the bedrock of video games and music and movie recommendation services.
The Digital Strategy’s proposals are expected to include:
- A major AI review led by Wendy Hall and Jérôme Pesenti to identify the critical elements for the exciting technology to thrive and grow in the UK. It will consider how Government and industry could work together to back this technology, which could inform a sector deal. The UK is already a world-leader in the science underpinning this technology and the sector has the potential to grow further, from early research to commercialisation.
- Government is also expected to confirm a funding boost of £17.3m from the Engineering and Physical Sciences Research Council (EPSRC) to support the development of new Robotics and Artificial Intelligence (RAI) technologies in universities across the UK.
The moves are part of the strategy’s ambition for Britain to build on areas of strength and develop a global lead in technologies, including cyber security, connected and smart devices, autonomous vehicles as well as AI. These technologies will drive future economic growth and productivity across the economy.
Culture Secretary Karen Bradley said:
“Britain has a proud history of digital innovation – from the earliest days of computing to Sir Tim Berners-Lee’s development of the World Wide Web.
We are already pioneers in today’s artificial intelligence revolution and the Digital Strategy will build on our strengths to make sure UK-based scientists, researchers and entrepreneurs continue to be at the forefront.
Technologies like AI have the potential to transform how we live, work, travel and learn, and I am pleased that Professor Dame Wendy Hall and Jérôme Pesenti will be leading this review. It’s great that Government and industry will be working together to drive growth in the sector, to realise all the economic and social benefits for the UK.
Backing our thriving digital economy to expand and grow by putting the best foundations in place to develop new technology is a vital part of this Government’s plan to build a modern, dynamic and global trading nation.”
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