Impressively, the UK is leading the way against our European counterparts when it comes to the AI industry. According to a new report by Cognizant, which carried out a poll of 1,200 enterprise executives. “Almost 18% of organisations in the UK are already in the advanced stages of AI maturity”.

This is great news for UK start-up businesses and those specifically focusing on AI technology. Putting us ahead of our closest competitors Germany (16%) and France (12%) and with the influence of COVID, companies have sought new ways to adopt AI to assist with its everyday processes – it is very much hoped that the UK will be able to draw on their digital experience.  Additionally with Europe’s intentions in investing in the AI industry, the UK is set to  establish a respectful revenue from selling AI services into Europe for the future.

So how can the UK AI industry make the most from European investment?

Training and innovation – Training and Innovation for the AI industry is key to keeping ahead of other European counterparts. Exploring AI capabilities with students at colleges and universities, whilst investing in new methods of working within the commercial sector will produce some great technology advances and become the backbone of new AI digital start-up businesses.

GDPR and Cyber Security – If there is one thing that we have learnt through the integration of IOT technology, it is that GDPR and Cyber Security are a real threat to digital technology.  Consciously embedding a cyber security plan at the development stage of AI technology will position the UK as early adopters for good quality cyber security. If innovators can apply this approach to new AI technology advances, it will give the UK the edge over other competitive countries.

Lean working and data capture - The wonderful aspect about AI technology is that it can be used in conjunction with robotic machinery to capture data and seamlessly create reports and feedback. How AI technology is applied in the future could create considerable financial savings and replace human employees for basic processes, whilst at the same time providing essential data.

Are you an innovator and in the process of setting up a technology startup business? Supported with a range of technology insurance products we create a bespoke commercial insurance cover which can include digital technology insurance, cyber security insurance, GDPR data protection insurance, intellectual property insurance, IOT insurance, 3d printing insurance plus many other digital related products. At Crendon Insurance we support start-up companies who have a core focus in digital technology for the AI industry.

Blogs used to write this article: