budget Archives

Editorial: UK puts AI at the centre of its Budget

British Chancellor Jeremy Hunt announced the country’s Spring Budget this week and supporting the AI industry was at the centre.

The UK is Europe’s AI leader. Indeed, behind the US and China, the country’s tech sector overall has the third-highest amount of VC investment in the world – more than Germany and France combined – and has produced more than double the number of $1 billion tech firms than any other European country.

Gerard Grech, CEO of Tech Nation,...

16 March 2023 | Artificial Intelligence

Budget: UK to boost ‘industries of the future’ funding – including AI, IoT, and driverless cars

The latest budget from the UK government increases financial support for the ‘industries of the future’ which includes AI, IoT, and driverless cars. As the UK prepares to depart the EU, the Chancellor of the Exchequer is boosting funding of industries where the UK is already emerging a leader to help solidify its position on the world stage. £75 million will be set aside for artificial intelligence to build on the existing success stories from the likes of Cambridge-based DeepMind...