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More than 50 leading businesses and organisations have contributed to the development of a £1 billion deal to put the nation at the forefront of the artificial intelligence industry, featuring almost £300 million of new private sector investment.
The deal between government and industry, announced by Business Secretary Greg Clark and Digital Secretary Matt Hancock today (Thursday 26 April 2018), also includes more than £300 million of newly allocated government funding for AI research to make the UK a global leader in this technology.
Building on the commitment made in the government’s modern Industrial Strategy and its AI Grand Challenge, the deal marks the first phase of a major innovation-focused investment drive in AI which aims to help the UK seize the £232 billion opportunity AI offers the UK economy by 2030 (10% of GDP).
The Artificial intelligence Sector Deal follows record levels of investments into UK tech in 2017 and today’s deal includes new investments such as:
Secretary of State for Digital, Culture, Media and Sport Matt Hancock said “The UK must be at the forefront of emerging technologies, pushing boundaries and harnessing innovation to change people’s lives for the better. Artificial Intelligence is at the centre of our plans to make the UK the best place in the world to start and grow a digital business. We have a great track record and are home to some of the world’s biggest names in AI like Deepmind, Swiftkey and Babylon, but there is so much more we can do. By boosting AI skills and data driven technologies we will make sure that we continue to build a Britain that is shaping the future.”
The deal will help establish the UK as a research hotspot, with measures to ensure the innovators and tech entrepreneurs of tomorrow are based in the UK, with investment in the high-level post-graduate skills needed to capitalise on technology’s huge potential.
It includes money for training for 8,000 specialist computer science teachers, 1,000 government-funded AI PhDs by 2025 and a commitment to develop a prestigious global Turing Fellowship programme to attract and retain the best research talent in AI to the UK.
This will make sure every secondary school has a fully qualified computer science GCSE teacher to give the next generation the skills they need to develop and capitalise on future technology.
As part of the deal, the accountancy firm Sage have also committed to delivering an AI pilot programme for 150 young people across the UK.
The government will build on its reputation as an international hub for AIinnovation and provide £20 million of funding to help the UK’s service industries, including law and insurance, with new pilot projects to identify how AI can transform and enhance their operations.
The government has also pledged £21 million of funding to create Tech Nation, a new UK-wide organisation working across the country to create a high-growth tech network for ambitious entrepreneurs. One of Tech Nation’s new goals will be to establish an internationally-respected programme for mid-stage AI companies to help bring them to scale.
The deal highlights government work to ensure all AI developments in Britain are conducted to the highest ethical standards by establishing a world-leading Centre for Data Ethics and Innovation.
The £9 million centre will be an important part of plans to make the UK the best place in the world for businesses developing AI to grow and thrive. It will address the challenges posed by the adoption of AI and advise on the measures needed to enable and ensure safe, ethical and innovative uses of data-driven technologies, while helping protect consumers.
Business and Energy Secretary Greg Clark said “Artificial intelligence provides limitless opportunities to develop new, efficient and accessible products and services which transform the way we live and work. Today’s new deal with industry will ensure we have the right investment, infrastructure and highly-skilled workforce to establish the UK as a driving force in the development and commercial use of artificial intelligence technologies. As with all innovation there is also the potential for misuse which puts the whole sector under scrutiny and undermines public confidence. That is why we are establishing a new world-leading body, to ensure the ethical use of data in AI applications for the benefit of all.”
International Trade Secretary, Dr Liam Fox said “Today’s announcement reaffirms the UK’s place as a world leader in artificial intelligence. This government is determined that British businesses should now take the next steps to build on the growing global opportunities provided by the advancement of AI, changing the lives of millions of people. As an international economic department, we will help UK companies in the AI sector to forge new trading ties that will boost exports, investment and provide jobs to every part of the country.”