Tech secretary to launch £500 million Sovereign AI Unit to help British firms
The fund is described as “one of the single most important things this Government will do for the future of this country”
The Technology Secretary will formally launch a £500 million fund aimed at backing British AI firms in the race to benefit from the new systems.
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Liz Kendall will announce the first beneficiaries of the Sovereign AI Unit on Thursday at an event hosted by UK-based AI car firm Wayve.
Describing the fund as “one of the single most important things this Government will do for the future of this country”, Ms Kendall is expected to say: “We are betting on Britain.
“We are backing our brilliant innovators and entrepreneurs so we seize the benefits of this technology to reshape Britain for the benefit of all.”
The new unit is expected to both invest in British AI firms and provide them with access to supercomputers, research support and help bidding for government contracts.
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Ms Kendall’s department said the launch of Sovereign AI marked a “deliberate shift in approach” to a more “focused, long-term backing” of AI firms.
Thursday’s announcement comes as the Government seeks to put AI at the heart of its attempts to kickstart economic growth in the UK, with both Sir Keir Starmer and Rachel Reeves stressing its importance.
Last month, the Chancellor told an audience in the City of London that the UK would pursue “the fastest adoption of AI in the G7”, arguing a thriving AI industry was “a critical part of our national resilience”.
But the launch of the Sovereign AI Unit comes just a week after OpenAI, the makers of ChatGPT, shelved plans to invest in a major data centre in the UK.
The company had planned to deploy its Stargate project at a new AI growth zone in the north-east of England but put those plans on hold on April 9 citing high energy costs and the burden of regulation.
On Monday, OpenAI said it would still expand its UK workforce, opening a new office in King’s Cross, London, next year.