New research by London & Partners shows that over three-quarters (77%) of international business leaders in the AI sector consider London to be more supportive of AI development than other leading AI hubs.
These findings come as international delegates gather in the capital for London Tech Week, Europe’s hottest tech event.
Nearly half (45%) of respondents cited supportive government incentives and policies tailored for AI development as London’s key advantage, while 44% highlighted access to international markets and global business opportunities as another significant benefit of being located in the capital.
Location is unsurprisingly a top consideration for international business leaders at AI companies, with nine out of ten (90%) surveyed stressing the importance of being located in a city that actively addresses factors which include the likes of data privacy and security (51%), as well as infrastructure and scalability (45%).
The good news for London is that it ranked highly in both areas, with 86% of respondents believing it will be effective in helping address data privacy and security in the next 12 months and 83% confident in the capital’s infrastructure and scalability.
When asked why London will be effective in these areas in the next year, nearly half (46%) of respondents said that the capital has a well-established infrastructure and technological ecosystem conducive to AI innovation and growth, while 43% said that London has access to a diverse and highly skilled talent pool in the AI field.
Additionally, 85% of decision-makers surveyed at international AI companies said that they are very confident in the capital’s ability to attract and retain talent over the next twelve months.
As London Tech Week approaches, AI is attracting more global attention. This year’s event is set to spark important discussions with top figures from tech, business, and politics attending.
“London is a world-leading centre for technology and talent, and fast becoming one of the most important centres for AI businesses globally,” said Mayor of London Sadiq Khan.
“The world’s leading players in the sector are investing in international headquarters across our city. These AI hubs will bring industry experts together to innovate and collaborate and provide major opportunities for Londoners to access the jobs and opportunities of the future.
“AI will play a major role in both our society and economy, and something all policy makers have to grapple with as we build a better and fairer London for all.”
Janet Coyle CBE, managing director of Grow London at London & Partners, said: “This research shows that London is at the forefront of supporting the responsible development of AI. As the number one tech hub in Europe and second in the world, we are already welcoming the likes of Microsoft AI, OpenAI, and Google DeepMind, all of whom have chosen London as a location for their international headquarters.
“The agenda at this year’s London Tech Week will cover the latest developments and announcements in AI. As more companies choose London for its AI credentials, it is clear that the city has all the right ingredients to support them in developing AI technology.”
Mike Mattacola, Chief Business Officer of CoreWeave, who recently announced the company’s expansion to London, said: “We’re incredibly excited to have launched our European headquarters in London as part of our broader expansion into the continent.
“London was an easy strategic decision for CoreWeave due to the city’s focus on fostering AI development, immense talent pool, access to a world-leading financial sector and close proximity to AI labs, developers, and enterprise customers across the UK.
“Our launch in London will allow CoreWeave to capitalise on the significant demand for our AI infrastructure both in the UK and across Europe.”