- The UK government has set aside £7 million for AI projects
- 120 projects have allocated funding to develop AI tools
- This hopes to increase productivity and efficiency for small businesses
As part of the UK Government’s recently announced AI Opportunities Plan, £7 million has been allocated to fund AI projects across the country, in an effort to boost growth by encouraging uptake of the technology. The 120 projects will receive part of the funding, allowing them to test technology to increase productivity and efficiency.
An example the government is giving to recipients of this funding includes an algorithm that can help bakeries predict sales, and help predict how much of each product will need to be produced in order to reduce food waste, even though it is difficult to imagine a successful bakery. which doesn’t yet know how much it is likely to sell for.
The government claims this move will help ‘unleash the era-defining potential of this technology’ to deliver growth and help boost small business productivity, making Britain more competitive and cementing the nation as Europe’s leading destination for AI companies.
An ambitious plan
As part of the plan, an AI tool is also proposed to ‘predict potholes before they form’ so they can be repaired earlier and cheaper (although again it’s hard to imagine a pothole being repaired before it forms) , as well as fairly ambitious AI models to “help farmers get their dairy cows to produce higher yields.”
The news comes after the government recently canceled a £1.3 billion AI investment plan, with tech projects such as a proposed £800 million Exascale supercomputer put on hold, as well as £500 million set aside for investment in computing power for AI Research Resource. The 7 million promised here pales in comparison.
Despite this, ministers are confident this will be transformative, with Science and Technology Minister Peter Kyle noting: “The huge range of projects receiving funding today, from farmers and bakers to those patching potholes in our roads and tackling mold in homes demonstrates the truly limitless benefits of AI that are there for the taking.”
“And if we take them on board, with our 50-point AI Opportunities Plan published yesterday, we will unleash AI across Britain, delivering a decade of national renewal and supercharging our Plan for Change.”