The United Kingdom has set aside a whopping £100million in global competition to acquire a toe-hold that will facilitate the production of computer chips for empowering artificial intelligence [AI]. The funds is to allocated as part of a drive to build a national AI resource in Britain, similar to those undergoing production in the US and elsewhere.
The UK government plans to invest £100 million to establish a foothold in the competitive global market for computer chips essential for powering artificial intelligence (AI) technologies.
UK aims to boost national AI resources with £100m investment amidst global competition
This initiative aims to build a national AI resource within the country, similar to efforts in the US and other nations. The funds are expected to be used to procure crucial components from major chip manufacturers such as Nvidia, AMD, and Intel.
Despite this investment, concerns have arisen within the industry and government circles that the £100 million commitment is insufficient when compared to investments made by peers in the EU, US, and China.
The UK currently represents only 0.5% of the global semiconductor sales.
The government’s move follows an earlier announcement in May by Chancellor Rishi Sunak to invest £1 billion over a decade in semiconductor research, design, and production.
Critics worry that if the UK does not make significant strides in semiconductor technology, it could face vulnerabilities in the face of increasing geopolitical tensions and competition in AI chip technology.
As part of its efforts, the UK plans to hold an AI summit to establish shared standards and regulations for technology that plays a critical role in shaping the future of AI.