AI for Innovation

AI in the UK

  • The UK AI sector is the third largest in terms of AI Private Capital globally, following the United States and China.
  • The UK AI sector already contributes £3.7 billion to the UK economy and employs some 50,000 people across the country.
  • UK is leading in Europe with over 55% of all AI related private investments from VC, PE and angel investors
  • Around one in six UK organisations, totalling 432,000, have embraced at least one AI technology
  • Innovation and investment in AI has positioned the UK to attract top-tier AI talent from around the world.

AI is shaping the future of work

Artificial Intelligence or AI is shaping the future of business. It has the power to unlock significant opportunities for UK firms to become more efficient and competitive. UK organisations are already harnessing the benefits of AI with around one-in-six, totalling 432,000, embracing at least one AI technology.

Financial and professional services continue to be leaders of AI adoption, with 90% of banks having already dedicated at least some resources to Generative AI initiatives. The scope of transformation includes providing better customer experiences, improving risk management, addressing financial crime, and offering innovative financial products to their customers.

Building a world-leading AI ecosystem that rapidly develops and deploys innovative solutions will not only help individual businesses and the financial services sector, but is crucial for the UK's overall competitiveness and long-term success.

How AI is turbo charging UK financial and professional services

AI: Accelerating Innovation

AI: Accelerating Innovation

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AI | Innovation Challenge

AI | Innovation Challenge

UK’s world leading AI sector: why the UK is such an attractive place to do business. 

The UK’s AI sector is positioned as the third largest in terms of AI Private Capital, following US and China. The UK also leads in Europe with over 55% of of all AI related private investments from VC, PE and angel investors.

The UK stands as a global hub for innovation, with world-leading universities and a dense ecosystem of AI-based companies. 

Innovation and investment in AI has positioned the UK to attract top-tier AI talent from around the world. The UK is the second most likely global destination for mobile AI researchers, after the US. 

 

The UK is committed to creating an environment where AI innovation flourishes.  

The UK is leading in creating consensus towards delivering a pro innovation regulatory environment for AI to be able to deliver on the promises of this technology.  

Through pro-innovation regulations, substantial R&D funding, skills initiatives, and higher education schemes, the UK paves the way for a future powered by AI. 

$118.06bn

projected value of the global generative AI market by 2032

£18.8bn

private investment into UK AI

432,000

companies using AI in the UK

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Innovation, creativity and a future focus

Innovation that expands boundaries

Always two steps ahead, the UK's talent for lateral thinking and innovation builds a successful future