- The UK government has set aside £7m for AI projects
- 120 projects receive funding to develop AI tools
- This hopes to boost the productivity and efficiency of small businesses.
As part of the UK Government’s recently announced AI Opportunities Plan, £7 million in funding has been allocated for AI projects across the country, in an effort to “accelerate” growth by encouraging the use of the technology. All 120 projects will receive a portion of the funding, allowing them to test technology to increase productivity and efficiency.
An example given by the Government to the beneficiaries of this funding includes an algorithm that can help bakeries predict sales, as well as help forecast how much of each product will need to be produced and therefore reduce food waste, although it is difficult to imagine a successful bakery. which does not yet know how much it is likely to sell for.
The Government says the move will help “unlock the era-defining potential of this technology” to generate growth and help boost the productivity of small businesses, making Britain more competitive and cementing the nation as the Europe’s number one destination for AI companies.
An ambitious plan
Also suggested as part of the plan is an AI tool to “predict potholes before they form” so they can be fixed sooner and more cheaply (although again, it’s hard to imagine a pothole being fixed before it forms ), as well as quite ambitious artificial intelligence. models to “help farmers make their dairy cows produce higher yields.”
The news comes after the Government recently canceled a £1.3bn AI investment plan, shelving tech projects such as an £800m exascale supercomputer proposal, as well as £500m set aside for investments in computing power for AI Research Resource , so the £7 million promised here pales in comparison.
Despite this, ministers are confident this will be transformative, with Science and Technology Secretary Peter Kyle commenting: “The huge range of projects receiving funding today, from farmers and bakers to those tackling potholes in our roads and mold on residential properties, demonstrates the true unlimited benefits of AI that are available for the taking.”
“And we will, with our 50-point AI Opportunities Plan, published yesterday, to unleash AI across the UK, delivering a decade of national renewal and driving forward our Plan for Change.”
