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The UK government has announced a £32 million investment in 98 artificial intelligence projects that have the potential to reduce train delays, speed up the delivery of prescription medicines and cut supply chain emissions. £1.3bn funding for AI supercomputer cancelled.
Among the companies receiving funding is V-Lab, which is developing a virtual reality platform that simulates construction sites and scenarios. The platform could be used to train new employees on safety before they start work, ultimately speeding up the construction of critical infrastructure projects.
Another company that received investment is Anteam, an AI logistics company. The company is developing a system that will search existing delivery routes for hospitals, pharmacies, and retailers to add new drug orders. By making delivery more efficient, the technology will reduce prescription delays and reduce vehicle emissions.
The winning projects are located across the country, from Southampton to Birmingham and Northern Ireland, and support more than 200 businesses and research organisations in so-called ‘high growth’ sectors.
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Feryal Clark, Minister of Digital Government and Artificial Intelligence In a press release“AI will make a real difference to working people across the UK – not only boosting our economy but also improving our public services.
“That’s why our support for initiatives like this is so important – backing a range of projects that can reduce train delays, give us new ways to maintain vital infrastructure, and improve the patient experience by making it easier for them to get their prescriptions.
“We want technology to enable growth and bring about overall change, and I believe projects like this will help us achieve that.”
Other projects funded include:
- The autonomous system developed by Hack Partners can monitor, manage and identify deficiencies in rail infrastructure, thereby reducing delays and cancellations.
- Monumo launches 3D generative AI tool to improve sustainability in electric vehicle motor design.
- Robok Limited’s SeeGul AI tool identifies opportunities for efficiency gains for businesses operating warehouses and storage facilities.
- Kelp Technologies provides fashion retailers with real-time pricing and market trend analysis tools, making it faster and easier to properly price second-hand clothing.
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The projects are funded by UK Research and Innovation’s Technology Mission Fund and delivered through the Innovate UK BridgeAI programme, which provides businesses with additional training and expertise.
The investment is good news as limiting AI innovation in the UK could have significant economic consequences. A recent Microsoft report found that extending the rollout of AI by five years could Costing more than £150 billion.
There is also evidence that the UK’s tech sector is currently stagnating. Research shows that the number of tech start-ups established in the UK has seen a “noticeable decline” for the first time since 2022. In the second quarter of 2024, there were only 12,318 new tech businesses established in the UK, compared to 13,802 in the first quarter, a drop of 11%.
The government said the funding showed it was backing up claims made last month. The speech of the king It will “pursue sustainable growth by encouraging investment in industry, skills and new technologies”.
In fact, last month, the UK Secretary of State for Science, Innovation and Technology Peter Carr said in a statement statement He “will put artificial intelligence at the heart of the government’s agenda to boost growth and improve public services.”
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