Innovate UK pledges £100M to fund AI adoption

Artificial Intelligence (AI) is a trending topic in all sectors right now. However, many have been slow to adopt and integrate this revolutionary technology – and to feel its benefits. Now, Innovate UK – which is the government’s innovation agency – looks set to address this with a new programme that is designed to help AI reach more sectors that are currently low maturity where AI adoption is concerned.

BridgeAI investment

The £100m evidence-based BridgeAI programme is designed to address key obstacles to AI adoption by UK businesses. The first is a lack of skills meaning that businesses don’t feel able to adopt new AI technologies. And the second is a lack of AI developer organisations offering AI-based products and services designed for those sectors that have low AI maturity. The programme will be available until March 2026.

How is the £100m investment likely to be made?

● £35m to increase sector capability and capacity to adopt AI. Alongside the resources of Innovate UK, an Innovation Network is being developed to create connections between AI adopting and developer organisations, as well as key strategic partners. The goal outcome is to make a range of products available to organisations that want to adopt AI technologies – and to provide support in the process of doing this.
● £250m via UKRI’s Technology Missions Fund focused on supporting quantum technologies, engineering biology and artificial intelligence.
● £65m invested via UKRI’s Technology Missions Fund to support and develop new AI and machine learning solutions that are intended to have a positive impact on business productivity. For example, £5m has been made available as grant funding for SME adopter organisations to collaborate, either with an AI developer SME or an academic. The collaboration must be focused on solving challenges or taking opportunities that will result in an increase in business productivity using AI. This is a live funding opportunity that will come to an end on 24th May 2023. However, another £5m in investment is likely to be announced next spring with a similar focus, ensuring that all businesses that could benefit from this funding get the chance to apply for it.
● £35m is to be made available to both SMEs and larger organisations from September this year for collaborative R&D projects. Eligible projects must be harnessing the power of AI in some way.

Ongoing opportunities for AI adoption

As part of the BridgeAI investment, new opportunities will be announced throughout 2023 designed to help establish an evidence-based resource of use cases for AI and ML solutions that are focused on increasing business productivity. Some sectors, such as construction, are being specifically targeted given their low maturity in an AI context. There will also be a range of other support, for example support for data and AI readiness that helps businesses to identify opportunities to deploy AI in their enterprise – to be announced this spring.

Adoption of AI can be a transformative process but there are clear obstacles for many organisations in low-maturity sectors. The new funding pledge from Innovate UK is designed to turn these obstacles into opportunities.