The Department for Science, Innovation, and Technology (DSIT) has approved funding for 98 artificial intelligence (AI) projects aimed at jumpstarting the UK economy.
Minister for digital government and AI, Feryal Clark, stated that AI has the potential to bring significant changes for working people in the UK, fueling economic growth and enhancing public services. The government aims to leverage technology to drive growth and progress across various sectors, and believes that these projects will help achieve that goal.
This funding announcement comes as the previous Tory government’s promises to fund AI projects are being retracted. DSIT has revealed that £1.3bn in funding, initially pledged by the Conservatives for technology and AI projects, has been put on hold. This includes the £800m exascale computer project in Edinburgh.
Among the companies benefiting from Labour’s AI funding commitment is V-Lab, which has been granted £165,006 to further develop AI-powered software for training individuals in the construction industry. Another beneficiary is Anteam, based in Nottingham, which is working with retailers and the NHS to enhance pharmacy delivery efficiency using AI algorithms.
Hack Partners, Monumo, Robok Limited, and Kelp Technologies are also receiving funding for their respective AI projects. The aim of the funding is to support applications in high-growth industries, ensuring that AI plays a central role in driving productivity and efficiency across key sectors of the economy.
Kedar Pandya, senior responsible owner of the UKRI Technology Missions Fund, emphasized that these projects will drive AI innovation and economic growth in various high-growth industry sectors across the UK. The investments made through the UKRI Technology Missions Fund are already contributing to growth and productivity by harnessing the power of AI and other transformative technologies.