{"id":37264,"date":"2023-09-13T14:27:56","date_gmt":"2023-09-13T13:27:56","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=37264"},"modified":"2023-09-13T14:27:56","modified_gmt":"2023-09-13T13:27:56","slug":"how-the-uk-is-set-to-dominate-the-global-ai-race","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/how-the-uk-is-set-to-dominate-the-global-ai-race\/37264\/","title":{"rendered":"How the UK is set to dominate the global AI race"},"content":{"rendered":"<h2>New projections released by the Global AI Ecosystem suggest that the UK is set to remain Europe\u2019s AI leader and secure third place in the global AI race behind the US and China.<\/h2>\n<p>The Global AI Economy Size Assessment report conducted groundbreaking research showcasing the rapid expansion of the UK\u2019s AI industry and its place in the global AI race.<\/p>\n<p>It indicates that the UK\u2019s AI sector is set to skyrocket from \u00a31.36tr to \u00a32.4tr by 2027.<\/p>\n<p>The Global AI Ecosystem platform is developed with support from AI Industry Analytics (AiiA) and Deep Knowledge Group.<\/p>\n<p>Designed as a universally accessible space for community interaction, collaboration, content sharing, and knowledge exchange, it has become a <a href=\"https:\/\/www.ai-ecosystem.org\/uk\" target=\"_blank\" rel=\"noopener\">vital hub for AI enthusiasts and professionals<\/a>.<\/p>\n<h3>How the UK is driving innovation in its AI space<\/h3>\n<p>With over 8,900 companies operating in the sector, the UK AI economy\u2019s valuation of \u00a31.36tr underscores its substantial contribution to the national GDP.<\/p>\n<p>Approximately 4,100 investment funds are dedicated to AI, with 600 of them based in the UK.<\/p>\n<p>A robust workforce of 500,000 UK-based AI specialists is driving innovation, solidifying the nation\u2019s position in the global AI race.<\/p>\n<p>This skilled workforce not only bolsters GDP growth but also acts as a safety net against unemployment.<\/p>\n<p>The UK Government\u2019s active <a href=\"https:\/\/www.innovationnewsnetwork.com\/over-1300-experts-urge-uk-government-to-recognise-the-benefits-of-ai\/35110\/\" target=\"_blank\" rel=\"noopener\">prioritisation of its national AI agenda<\/a> is a significant factor in this remarkable growth. Last month, UK Deputy PM, Oliver Dowden, called AI \u201cthe most extensive industrial revolution yet.\u201d<\/p>\n<h3>How these investments will make the UK Europe\u2019s leader in the global AI race<\/h3>\n<p>Dmitry Kaminskiy, Founder of AI Industry Analytics (AiiA) and General Partner of Deep Knowledge Group, said: \u201cDespite an economic downturn and other challenges, the UK stands as a dynamic and proactive leader in the global AI race.<\/p>\n<p>\u201cThere is no question that AI is poised to be the major driver for economic growth, fuelling the further development of the entire UK DeepTech industry, and creating a cumulative, systemic, positive impact on the full scope of the nation\u2019s integral infrastructure.\u201d<\/p>\n<p>Cities like London, Cambridge, Manchester, and Edinburgh have emerged as leading AI hubs, fostering collaboration and providing access to essential resources.<\/p>\n<p>With nearly 5,000 AI companies in London alone, it competes with entire countries on the global AI stage and solidifies its European leadership status.<\/p>\n<p>The <a href=\"https:\/\/www.innovationnewsnetwork.com\/uk-government-announces-3-5bn-science-and-technology-funding\/31059\/\" target=\"_blank\" rel=\"noopener\">UK\u2019s position as a hub for science<\/a>, R&amp;D, DeepTech, and AI governance places it in good stead for leveraging AI as a core engine of technological progress and driving economic growth in the global AI race.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK is set to remain Europe\u2019s AI leader and secure third place in the global AI race behind the US and China.<\/p>\n","protected":false},"author":22,"featured_media":37265,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[830],"tags":[570],"acf":[],"yoast_head":"\n<title>How the UK is set to dominate the global AI race<\/title>\n<meta name=\"description\" content=\"The UK is set to remain Europe\u2019s AI leader and secure third place in the global AI race behind the US and China.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.innovationnewsnetwork.com\/how-the-uk-is-set-to-dominate-the-global-ai-race\/37264\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" 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