The Government has committed billions in investment among a raft of AI measures ahead of next week’s Budget.
AI ambassadors have been appointed including Simon Johnson, the Nobel prize-winning Massachusetts Institute of Technology (MIT) economist and former chief economist of the International Monetary Fund, who will act as a standard bearer with public services and businesses.
Monzo co-founder and Y Combinator general partner Tom Blomfield will champion British startups to scale up and attract talent and investment.
Google DeepMind VP of research Raia Hadsell will champion the UK’s place at the forefront of AI innovation and security.
Venture capitalist James Wise will chair a new Sovereign AI Unit, backed by almost £500m in investment, to help build and scale AI capabilities. The unit will bring together Government, industry and investors to become the ‘go-to fund’ for high potential startups and scaleups in the UK.
The government says it will act as a ‘first customer’ for promising UK startups who are building high-quality AI hardware products but currently struggle to get off the ground without investment.
The new ‘advance market commitment’ is backed up by up to £100m of government support.
A new AI Growth Zone in South Wales – with partners including Vantage Data Centers and Microsoft – powered by £10bn investment will create more than 5,000 new jobs for local communities over the next decade, the Government says – including at the former Ford Bridgend Engine Plant.
£5 million of government funding for each Growth Zone is planned to boost business adoption and invest in the skills of local workers.
It is planned that AI Growth Zone data centres will house billions of pounds of hardware, with British chips deployed alongside established vendors.
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The government will offer more free compute to British researchers and British startups so they can train new AI models and deliver scientific breakthroughs. The process to spend up to £250m on compute is being launched today.
A new strategy is also being unveiled to make sure AI supercharges scientific discovery backed by up to £137m in government funding. Its first mission will be focused on harnessing AI to speed up the research of new drugs and treatments – giving patients a new lease of life and fresh hope that their conditions can be better managed.
Secretary of State for Science, Innovation, and Technology, Liz Kendall said: “We are ambitious for our country and believe Britain’s best days lie ahead. Today we’re announcing a package of measures that ensure we seize the opportunities to get jobs and growth in every part of the country.
“The backing by international investors today is a vote of confidence in the UK – and we’re determined to do even more to ensure we are backing British businesses, workers and researchers to benefit from the opportunities AI brings. This is about bringing jobs, opportunities and hope to the people and places that need it most, delivering on our promise of change.”