UK AI sector achieved record funding in Q2 2022

New data from Tech Nation and Dealroom found that VC investment in UK AI companies hit a record in Q2 2022 and is on track to at least equal last year.

Around 2,009 AI companies are based in the UK, the AI capital of Europe. Renowned companies include Graphcore, BenevolentAI, Darktrace, Wayve, and DeepMind.

Last year saw a record investment of £6.6 billion flow into UK AI companies. In 2022 so far, £3.2 billion has been invested. Tech Nation notes that investment into...

6 October 2022 | Applications

UK eases data mining laws to support flourishing AI industry

The UK is set to ease data mining laws in a move designed to further boost its flourishing AI industry.

We all know that data is vital to AI development. Tech giants are in an advantageous position due to either having existing large datasets or the ability to fund/pay for the data required. Most startups rely on mining data to get started.

Europe has notoriously strict data laws. Advocates of regulations like GDPR believe they’re necessary to protect consumers, while...

29 June 2022 | Artificial Intelligence

UK fines Clearview AI £7.5M for scraping citizens’ data

Clearview AI has been fined £7.5 million by the UK’s privacy watchdog for scraping the online data of citizens without their explicit consent.

The controversial facial recognition provider has scraped billions of images of people across the web for its system. Understandably, it caught the attention of regulators and rights groups from around the world.

In November 2021, the UK’s Information Commissioner’s Office (ICO) imposed a potential fine of just over £17...

23 May 2022 | Applications

DCMS spent 75% more on data scientists in 2021

Investments in data scientists by the UK’s Department for Digital, Culture, Media & Sport (DCMS) continue to increase rapidly.

The data, retrieved by the Parliament Street think tank, shows that DCMS has spent an estimated £20,606,100 on data scientist and data analyst roles between 2017 and 2021.

Niall Crosby, CEO of AG Grid, commented:

“Today’s digital world creates a lot of data, and the ability to process, understand, and make decisions based on...

22 April 2022 | Legislation & Government

Arm is cutting up to 1,000 jobs after Nvidia deal collapses

Arm is cutting up to 1,000 jobs from its global workforce after the collapse of Nvidia’s acquisition.

The British chip designer has struggled from relatively flat revenues and rising costs despite the huge success of the company’s licensees such as Apple, Qualcomm, and Amazon.

Nvidia proposed to acquire Arm for $40 billion and ensure the company is able to continue its pioneering work. However, the deal caught the eye of global regulators and rivals voiced their...

15 March 2022 | Companies

The NHS can now access ‘pioneering’ AI stroke diagnosis software

NHS Shared Business Services (NHS SBS) has announced a procurement framework for "pioneering" AI software to diagnose strokes.

Breakthroughs in medical AIs are helping to reduce patient suffering, the likelihood and/or severity of long-term complications, and even save lives across a number of ailments.

Some of the benefits from medical AI breakthroughs are achieved through improved understanding leading to better treatment, while others are due to reducing the amount of...

7 March 2022 | Applications

The EU’s AI rules will likely take over a year to be agreed

Rules governing the use of artificial intelligence across the EU will likely take over a year to be agreed upon.

Last year, the European Commission drafted AI laws. While the US and China are set to dominate AI development with their vast resources, economic might, and light-touch regulation, European rivals – including the UK and EU members – believe they can lead in ethical standards.

In the draft of the EU regulations, companies that are found guilty of AI misuse...

17 February 2022 | Applications

Nvidia exits from its proposed $40B acquisition of Arm

Nvidia is walking away from its proposed $40 billion acquisition of British chip designer Arm.

The deal caught the attention of global regulators with anti-competition investigations launched in several jurisdictions including the UK, EU, and US.

In November 2021, UK Digital Secretary Nadine Dorries decided to block the merger pending the results of a 24-week ‘Phase 2’ investigation.

With the merger looking almost impossible to be approved by regulators,...

8 February 2022 | NVIDIA

Making the UK an AI superpower

The British technology sector enjoyed its best year of investment yet, attracting £29.4 billion in 2021. So, why hasn’t the UK’s AI and tech scene made it to the same global superpower status that we see from China, Russia, and the US?

We don’t need to wait for the results of the government’s recent National AI Strategy, to know that deeper change is needed to really propel the industry forward. To create an AI scene that can compete on the world stage, education,...

21 December 2021 | Artificial Intelligence

FTC steps in to block Nvidia’s $40B acquisition of Arm

America’s Federal Trade Commission (FTC) has become the first regulator to sue to block Nvidia’s acquisition of British chip designer Arm.

Arm plays a critical role in the global technology supply chain with its designs used for edge AI chips and processors for smartphones, tablets, desktops, and servers.

It’s of little surprise that Nvidia wants to bring Arm under its wing and is willing to pay $40 billion (£29 billion) for it.

Global regulators,...

3 December 2021 | Legislation & Government