The UK government’s recently announced investment plan for the AI sector “does not come close” to what is required to achieve its ambitions, according to RSM UK’s Ben Bilsland.
The government has pledged £2.5bn of investment in AI, alongside £1bn of funding to expand Britain’s compute capacity, figures woefully behind where they need to be, according to Bilsland.
Though he applauded the recent Spending Review as a “much-needed boost” to the tech industry and industries beyond, Bilsland said the combined £3.5bn investment “does not come close to the sorts of figures this government should be considering in our view”.
The funding levels appear particularly meagre compared with the previously announced €109bn (£93bn) AI investment pledge from France in February and the $500bn (£367bn) AI ‘Stargate’ investment project in the US.
“Our £1trn tech ecosystem is the largest in Europe, so it needs real tangible support to maintain its position as a world leader in tech,” Bilsland said.
Despite his concerns, the firm’s head of technology expressed support over the £22.6bn research and development budget announced during Chancellor Rachel Reeves’ review as well as efforts to rapidly upskill workers for AI and improving the UK’s energy infrastructure.
“This strategy is a step forward which could deliver a much-needed boost, not only to the UK technology sector, but also the many other industries which rely heavily on investment in tech to support their growth,” Bilsland added.
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