Govt allocates £300m in fresh funding to make the UK a global leader in AI

The government has allocated £300m in new funding to invest in AI research in a bid to make the UK a global leader in the technology. According to a press release, more than 50 businesses and organisations have contributed to the development of a £1bn deal, which was announced by business secretary Greg Clark and digital secretary Matt Hancock. The new funding builds on the commitment made in the government's modern Industrial Strategy and its AI Grand Challenge. It aims to help the UK seize the £232bn opportunity artificial intelligence offers the UK economy by 2030. Today's announcement comes after'record levels' of investment into the UK tech sector last year, and includes new deals such as: "The UK must be at the forefront of emerging technologies, pushing boundaries and harnessing innovation to change people's lives for the better. "Artificial Intelligence is at the centre of our plans to make the UK the best place in the world to start and grow a digital business.