tech
UK government will buy tech to boost AI sector in $130M growth push
Plan will offer guaranteed payments for British startups making AI hardware
TL;DR
- UK government to invest £100 million in emerging British AI chip technology.
- Government will act as a "first customer," guaranteeing to buy AI inference chips from domestic startups.
- This initiative aims to boost the UK's AI sector and support sectors like life sciences and financial services.
- The UK AI market is the third largest globally, but investment lags behind the US and China.
- The plan is part of a wider package to upgrade Britain's tech infrastructure and attract entrepreneurs and investors.
- James Wise will chair the government's £500 million sovereign AI unit.