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Reading: The government cancels £1.3 billion in UK technology and AI initiatives.
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Baner Club > Blog > Technology > The government cancels £1.3 billion in UK technology and AI initiatives.
Technology

The government cancels £1.3 billion in UK technology and AI initiatives.

According to the news, the incoming Labour administration has delayed £1.3 billion in Conservative-promised funding for technology and artificial intelligence (AI) initiatives.

Last updated: 2024/08/02 at 8:54 AM
Published August 2, 2024
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It includes £800 million for the development of an exascale supercomputer at Edinburgh University and another £500 million for the AI Research Resource, which provides computing capacity for AI.
Both funds were unveiled less than a year ago.
The Department for Science, Innovation, and Technology (DSIT) stated that the money was promised by the previous administration but was never included in its budget.
TechUK, a trade association, stated that the government must now develop “new proposals quickly” or risk “losing out” to other countries in critical future industries.

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

It also stated that it was “absolutely committed” to developing IT infrastructure in the UK.

Secretary of State Peter Kyle has alerted all those impacted.

However, the Conservatives claim that under its leadership, DSIT underspent.

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admin August 2, 2024 August 2, 2024
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