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<p>More than 50 leading technology companies and organisations have contributed to
the development of an AI Sector Deal worth almost £1 billion, including almost £300
million of private sector investment into UK sector.</p><p> </p><p>The deal between
government and industry, announced recently by my rt. hon Friends the Secretary of
State for Business, Energy and Industrial Strategy, and the Secretary of State for
Digital, Culture, Media and Sport, also includes more than £300 million of newly allocated
government funding for AI research to make the UK a global leader in this technology.</p><p>
</p><p>Building on the commitment made in the Government’s modern Industrial Strategy
and its AI Grand Challenge, the deal marks the first phase of a major innovation-focused
investment drive in AI which aims to help the UK seize the £232 billion opportunity
AI offers the UK economy by 2030 (10% of GDP).</p>
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