The UK Government Has Announced It Will Invests £100m To Increase the Development Of AI Computer Chips.
In order to make AI technologies possible, computer chips like graphics processing units (GPUs), central processing units (CPUs), field programmable gate arrays (FPGAs), and application-specific integrated circuits (ASICs) are crucial.
For the UK to establish itself as a worldwide leader in the rapidly changing technological landscape, increasing the manufacture of AI computer chips will be essential.
The US and China are now substantially ahead of the UK in terms of investment and development of AI.
A national AI resource will be established in Britain with the help of the government’s £100 million financing, which seeks to bridge the AI gap.
A government spokeswoman responded to the news with the following statement: “We are dedicated to maintaining a vibrant environment for computers in the UK, which preserves our position as a worldwide leader across research, innovation, and technology.
“The extra funding provided by UKRI will enhance the separate £100 million commitment made to create the Foundation Model Taskforce. Information about the AI Research Resource will be announced soon.
What Progress Will the Funds Make For UK Computer Chips?
The investment will hasten the development of AI computer chips in the UK by creating a national AI resource and placing orders with significant chip producers like Intel, AMD, and NVIDIA.
The government has already placed its final purchase with NVIDIA for 5,000 GPUs, or graphics cards. GPUs are essential for carrying out the intricate tasks demanded by AI.
Industry analysts contend that the UK’s pledge to invest £1 billion in AI over the next 20 years is insufficient.
UK Investment for AI Lags Considerably Behind That Of Top Countries.
In compared to the financing commitments made by the EU, US, and China, the UK’s contribution is paltry.
Currently, sales of semiconductors are barely 0.5% of the total worldwide. Other countries, on the other hand, have made significant investments in semiconductor design, research, and manufacturing.
Under the Chips Act, the US has invested £41 billion, and the EU has subsidized semiconductors with €43 billion.
Industry professionals have expressed their concerns due to the absence of UK financing.
“It’s encouraging to see a significant investment being made in AI at a time when the technology is set to completely reshape the way businesses operate,” said Steven Mooney, CEO of FundMyPitch.
“However, not enough is being done to assist the UK’s in-house digital talent, with a great number of ambitious entrepreneurs and inventors fighting to get finance despite developing market-leading technologies.
The possibility to acquire a reliable valuation and draw investors’ attention is, in fact, a challenge that many AI start-ups find to be nearly difficult. If we want to be a leader in the AI business, this needs to change right away.
Later this year, the UK will host an AI summit to further its AI goals.