Gloucester has been named the seventh best location in the UK for AI companies by a leading business website.
Based on factors such as the company’s longevity, career opportunities and local interest in the technology.The city made it into the top 10 in the AI Business Rankings 2024, which is based on data collected by Business Financed, an independent banking and finance website, beating out cities such as London and Manchester.
The ranking defines an AI business as “a company that specializes in the development, implementation or use of AI technologies to deliver products, services or solutions, with a focus on areas such as machine learning, natural language processing, computer vision, robotics and data analytics.”
Regions were ranked based on four criteria: number of AI companies, number of AI-related job openings, five-year survival rate of AI companies, and online search volume for AI-related terms.
The rankings show that the strength of AI companies is not limited to a single region like London, but is spread across the UK, according to the report.
The report also highlights that whilst Gloucester has a low rate of AI job vacancies, it has a high business survival rate of 47.8% out of a total of 41 businesses, suggesting that the county's existing AI companies are stable and thriving.
Neighbouring Cheltenham, home to the Golden Valley development and aiming to become the UK's cyber capital, performed well, coming in 17th out of 60, with 13 AI-related companies and a five-year survival rate of 43.4 percent.
The South West's strength was also bolstered by Bristol, which came in second on the list with 101 AI companies and a survival rate of 42.8 percent.
