The Government has launched the first public service procurement competitions under its £100 million Sovereign AI R&D Procurement Scheme.

The scheme was announced by Chancellor John Healey at the G20 Finance Ministers and Central Bank Governors meeting in North Carolina.

It seeks to back innovative British AI companies to develop solutions to some of the UK’s biggest challenges, from boosting NHS productivity and strengthening national security to improving cyber resilience and expanding the computing infrastructure that will power future growth. 

The Government has also established the AI Economics Institute, a world-first. This will seek to strengthen understanding of AI’s economic impacts, helping ensure policymakers have the evidence needed to maximise AI’s opportunities and respond to its challenges. 

The Chancellor has confirmed that the UK now plans to open up AIEI to international cooperation with G7 countries, focused on information and evidence sharing.