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 commits 100 million pounds to support British AI chip technology.
- The government will act as an 'early customer,' guaranteeing purchases of AI inference chips from domestic startups.
- This initiative aims to boost growth in the artificial intelligence sector, especially in life sciences, financial services, defense, and creative industries.
- The UK's AI market is the third largest globally, but investment lags behind the US.
- The plan is part of a broader package to upgrade tech infrastructure and attract entrepreneurs and investors.
- James Wise will chair the government's 500 million pound sovereign AI unit.