“Our particular strengths as a rustic lie in areas like life sciences, financial services, the defense sector, and the creative sector. And where we are going to really lead the world is where we are able to use the facility of AI in those sectors,” Kendall told the Financial Times.
The plans got here as a part of a wider AI package designed to upgrade Britain’s tech infrastructure and persuade entrepreneurs and investors that Labour is backing the sector ahead of next week’s Budget, which is anticipated to lift taxes on the rich.
The UK has sought to draw investment from US AI firms reminiscent of OpenAI and Anthropic.
The federal government has signed several “strategic partnerships” with American groups in a bid to draw foreign investment in UK AI infrastructure and talent, in exchange for adopting their technology in the general public sector.
Sue Daley, of lobby group TechUK, said the plan showed “real ambition” but warned: “Advanced market commitments of this type have to be designed fastidiously to avoid unintentionally distorting competition.”
The federal government also announced that James Smart, a enterprise capitalist at Balderton, would chair the federal government’s 500 million pound sovereign AI unit, which has been set as much as back AI startups alongside the British Business Bank.
Additional reporting by Ivan Levingston
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