Skip to main content

Artificial Intelligence: Finance

Question for Department for Business and Trade

UIN HL9916, tabled on 5 September 2023

To ask His Majesty's Government what steps they are taking to encourage investment in artificial intelligence to improve productivity.

Answered on

20 September 2023

The Government refreshed its National AI strategy in December 2022 setting out its ten-year plan to make Britain a global AI superpower. This builds on investment of over £2.3 billion into AI since 2014 in a range of initiatives supporting the UK’s transition to an AI-enabled economy. This is encouraging innovation, and investment across sectors, from financial services to advanced manufacturing.

For example, Made Smarter is an industrial digitalisation programme funded by the Government in five English regions, which supports SMEs to adopt technologies including AI. Working in partnership with industry Made Smarter helps boost manufacturing sector growth and competitiveness.