The UK government has announced a £32m investment in 98 AI projects that promise to cut train delays, speed up the delivery of prescriptions and cut supply chain emissions, just days after it was revealed that £1.3bn earmarked for AI supercomputers had been cancelled.
Companies receiving financial support include V-Lab, which is developing a virtual reality platform that simulates construction sites and scenarios that can be used to safely train new workers before they arrive on site, ultimately speeding up the implementation of essential infrastructure projects.
Another company that has received investment is Anteam, an AI-powered logistics company. The organization is developing a system that will find existing delivery routes from hospitals, pharmacies, and retailers to which new drug orders can be added. By increasing delivery efficiency, the technology will reduce delays in filling prescriptions and reduce vehicle emissions.
The winning projects are based across the country, from Southampton to Birmingham and Northern Ireland, and support more than 200 businesses and research organisations in so-called ‘high growth’ industries.
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Minister for Digital and Artificial Intelligence Feryal Clark said in a press release: “AI will make a real difference to working people across the UK – not only growing our economy, but also improving the quality of our public services.
“That’s why our support for initiatives like this will be so crucial – supporting a range of projects that can reduce train delays, provide us with new ways to maintain our vital infrastructure and improve the patient experience by making it easier for them to get their prescriptions delivered.
“We want technology to drive growth and change at every stage. I am confident that projects like these will help us achieve that ambition.”
Other projects that received funding include:
- An autonomous system developed by Hack Partners that enables monitoring, management and identification of faults in rail infrastructure, helping to reduce delays and cancellations.
- Monumo’s 3D AI-generated tool can improve the sustainability of electric vehicle engine designs.
- SeeGul AI tool from Robok Limited, which finds opportunities to increase efficiency in companies operating warehouses and storage facilities.
- Kelp Technologies’ real-time pricing and market trend analysis tool for apparel retailers that makes pricing used apparel faster and easier.
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The projects are funded by the UKRI Technology Missions Fund and delivered through the Innovate UK BridgeAI programme, which provides businesses with additional training and expertise.
The investment is welcome news because restricting AI innovation in the UK could have a significant impact on the economy. A recent Microsoft report found that adding five years to the time it takes to implement AI could cost more than £150 billion.
There is also evidence that the UK’s tech sector is currently stagnating, with research showing that the number of tech startups being founded in the UK saw its first “significant decline” since 2022. Just 12,318 new tech companies were founded in the second quarter of 2024, down from 13,802 in the first quarter – a drop of 11%.
The Government says the funding backs up claims made in last month’s King’s Speech that it will “pursue sustainable growth by encouraging investment in industry, skills and new technologies”.
Indeed, last month, Secretary of State for Science, Innovation and Technology Peter Kyle said in a statement that he was “placing AI at the heart of the government’s agenda to boost economic growth and improve our public services”.
