The UK government will finance £2.5 billion in funding for AI and quantum computing development. Chancellor of the Exchequer Rachel Reeves is set to outline ambitions for the country to adopt AI faster than any other nation in the G7.
Reeves declared AI as the defining technology of our era, insisting that Britain cannot afford to stand still. “I believe we can approach the future with confidence, with the technologies for the future invented, built, and deployed here in Britain.” Going a step further, Reeves pledged to ensure that the UK adopts AI faster than any other nation within the G7, beating Canada, France, Germany, Italy, Japan, and the US.
To accelerate its technology ambitions, the government committed £2 billion to quantum computing development. The government plans to ensure the UK will become the first country to benefit from revolutionary quantum computers, sensors, and networks, with the funding pot used to support British companies involved in the field.
The government explained that quantum will emerge as technology’s next great generational leap to rival AI, with the systems able to explore thousands of potential answers at once. The initiative is designed to bring together R&D, manufacturing, software, hardware, and procurement into a single program, aiding plans to launch quantum offerings by the early 2030s. A further £500 million will be put into a sovereign AI fund, set to launch in April. This will provide promising UK startups with access to funding and other support.
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