UK artificial intelligence investment reaches record levels

The UK is now third in the world for artificial intelligence (AI) investment, behind the US and China, after attracting more capital in six months than in all of 2018. AI investment in the UK reached £859.29m in that time, compared with £825.85m in the preceding 12 months, according to figures collected by business information resource Crunchbase. The figures show that the UK's AI sector is now in its fifth year of consecutive growth, with investment increasing almost six-fold between 2014 and 2018. The growth has predominately been fuelled by startups with 50 or fewer employees, which account for 89% of the UK's AI ecosystem. According to representatives from entrepreneurs network Tech Nation, the focus now needs to be on scaling the UK's existing AI business to capitalise on these investment trends.