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.

The fast-growing world of artificial intelligence is about to receive another big boost this week. According to Coin Telegraph, the startup has secured $36 million in fresh funding to build next-generation AI technology. What more interesting about this latest startup news is that the company has managed to raise fresh funding in a very short time, the website said. In just 60 seconds after opening the sale to the public, the company sold out of the whole amount of available AGI tokens, bringing the total sale to a whopping $36 million. The company claims that in this week only, it has received registration application from about 20,000 people.

Canada is bracing for an intense global technology race as Ottawa, the provinces and corporations pump hundreds of millions of dollars into the burgeoning artificial intelligence sector in a bid to keep the country competitive as it faces technological changes in the years ahead. To continue reading this article, you must be a Globe Unlimited subscriber. Click here to get full access to Globe Unlimited. Log in to keep reading. BERNSTEIN, BOIVIN and McKAY It's time for Canada to invest in developing artificial intelligence Discover content from The Globe and Mail that you might otherwise not have come across.

YotaScale, a graduate of Alchemist's enterprise accelerator, is announcing a $3.5 million venture round today from Engineering Capital, Pelion Ventures and angels Jocelyn Goldfein, Timothy Chou and Robert Dykes. The startup employs machine learning to help balance performance, availability and cost for enterprise cloud computing. Competitors CloudHealth Technologies and Cloudability have raised a combined $80 million in the hot space. Cloud computing has rapidly become integral to businesses in just about every industry. But the quick pace of innovation has made it hard to monitor ever-evolving cloud infrastructure.

Darktrace, the U.K. cybersecurity startup whose backers include Autonomy founder Mike Lynch's Invoke Capital, has closed 65 million in fresh funding. The new round was led by global investment firm KKR, with participation from existing investor Summit Partners and new investors TenEleven Ventures and SoftBank. I understand the new investment gives the 2013-founded company a valuation of more than 400 million, while in a call Lynch told me the new backing was a typical growth round and will be used for further international expansion and for R&D. In particular, he said Darktrace is developing technology to help companies respond to not only human-written cyberattacks but also the pending threat of machine-learning-based attacks that, in classic sci-fi-comes-true-fashion, will increasingly see AI battling it out with AI on behalf of the good and bad folks, respectively. But let's step back and take a look at what Darktrace offers today.