UK Government Axes £1.3 billion AI and Tech Plans

£1.3 billion of funding for technology and artificial intelligence (AI) research, development, and projects has been axed.

Labour is looking for ways to get the economy on track.

The Department for Science, Innovation and Technology (DSIT) claimed the money was promised by the previous Conservative government but was never allocated in the budget.

The funding plans were only revealed within the past 12 months and included £800 million for an exascale supercomputer at Edinburgh University, as well as £500 million for AI Research Resource which was set up to fund computing for AI.

In a statement, DSIT said: “The government is taking difficult and necessary spending decisions across all departments in the face of billions of pounds of underfunded commitments. This is essential to restore economic stability and deliver our national mission for growth.”

“Boosting AI investment should be a top priority for government. Technology advancement is fuelling data creation in all areas of everyday life, in business and academia, and that data can provide valuable insights to help solve challenges and drive innovation,” according to Scott Lewis, SVP, Ataccama.

Edinburgh University had already splashed £31 million of its funding to build housing for its planned supercomputer. It would have been 50 times faster than any current computer in the UK.