UK to invest £93 million in AI research, Secretary of State tells Asia House audience

UK to invest £93 million in AI research, Secretary of State tells Asia House audience

19/01/18

Luke Foddy, Communications Manager

The UK is to invest £93 million into Artificial Intelligence (AI) and robotics systems over the next few years, according to Matt Hancock, the Secretary of State for Digital, Culture, Media and Sport.

Speaking at Asia House’s ‘Future of Artificial Intelligence in China’ event, ahead of a speech from Dr Kai-Fu Lee, Mr Hancock said the UK is “investing heavily” in innovation through the government’s Industrial Strategy Challenge Fund – worth £93 million.

“We’re establishing a £10 million Regulators’ Pioneer Fund to support UK regulators in developing innovative approaches to emerging technologies,” the Secretary of State added.

“And we’re also working to foster, attract and retain the best and brightest research talent.”

Mr Hancock’s remarks were followed by a speech from Chairman and CEO of Sinovation Ventures, Dr Kai-Fu Lee – one of the world’s leading thinkers on Artificial Intelligence.

Dr Lee spoke on the role China is playing in driving AI technologies, and how this will transform global commerce.

In his opening remarks, Mr Hancock thanked Dr Lee for his praise of the UK tech sector in recent media appearances.

“Dr Lee, I have seen your comments this week on how China and the UK should be partners in the AI revolution. I was delighted that you praised the UK’s ‘world-class research institutions and creative entrepreneurial culture’.

“You also said that we are home to some of the ‘hottest AI companies in the world producing breakthroughs of global significance’,” Mr Hancock said.

“Needless to say, I couldn’t agree more.”

Watch the full Future of Artificial Intelligence in China event