£100 million program aims to boost adoption of AI and ML in the UK
Innovate UK has launched a program to accelerate the adoption of artificial intelligence (AI) and machine learning (ML) technologies in the UK. The BridgeAI program provides £100 million in funding for companies working on AI and ML projects.
Professor Will Drury, Executive Director of Digital and Technology at Innovate UK, said: program It represents a significant investment in UK operations. “We aim to unlock the untapped potential of AI to improve productivity and efficiency across key sectors,” he explains. “By fostering AI innovation at the grassroots level, we believe this program will enable thousands of businesses to add even greater value to the UK economy and compete more effectively on the global stage.”
The program will help businesses improve productivity and efficiency through AI, focusing on sectors with high growth potential such as agriculture, construction, and transportation.
As part of the programme, Innovate UK will invest up to £5m in AI projects lasting 4-6 months. Eligible projects are selected through a competition for UK small businesses. The award will be given to applications that work with AI developers or academic institutions to demonstrate how AI can be used to address business challenges and opportunities that drive increased productivity. Successful candidates will receive up to £50,000. Applications will close on May 25, 2023.
• Prime Minister Rishi Sunak and Technology Secretary Michelle Donelan recently announced a £900 million investment in computing technology in the budget, along with a £100 million start-up fund for the task force responsible for accelerating the UK’s AI capabilities. announced. A government- and industry-funded task force aims to develop safe and reliable uses of AI, helping the UK remain globally competitive in this strategic technology. .
“By harnessing the potential of AI, we have a huge opportunity to grow our economy, create better-paying jobs and build a better future,” Sunak said in the announcement. “By investing in emerging technologies through our new expert task force, we can continue to lead the development of safe and trustworthy AI as part of shaping a more innovative UK economy.”
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