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UK pledges further AI investment following global safety summit

The UK government has said it will invest an additional £500 million ($626 million) in computing infrastructure for AI over the next two financial years, in addition to implementing tax reforms and educational investments to help boost the country’s technology industry.

In Wednesday’s Autumn Statement, Chancellor of the Exchequer Jeremy Hunt said the government will use the additional investment to fund more innovation centers to help make the UK an “AI powerhouse.” The financial support for the sector, which now totals around £1.5 billion, will be used to help fund the research and development of new foundation models that maximize the UK’s potential in AI, enabling the discovery of new drugs, for example.

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Source:: Computerworld

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