Investment in UK AI startups has increased almost six-fold in four years

Venture capital investment in the UK's artificial intelligence sector leapt almost six-fold from 2014 to 2018, according to figures released on Thursday. Research by market intelligence firm Dealroom found investment in UK AI startups reached a record £997m (£1.3bn) in 2018, continuing upward trends since 2014, when investment was just £153m. The research was carried out on behalf of startup accelerator Tech Nation and the UK's Digital Economy Council. READ MORE: The "Oracle of AI" – these four kinds of jobs will not be replaced by robots According to Dealroom's figures, the biggest surge in interest in AI came between 2016 and 2017, when venture capital funding for UK companies almost doubled from £500m to over £900m. Dealroom recorded 82 venture capital fundraisings across UK companies last year, compared with 70 the previous year.