The UK is now recognised as third in world for its digital contribution and development to AI – Artificial Intelligence technology investment, with only the US and China ahead of us. According to technology group Tech Nation, “AI funding in the UK has already surpassed 2018’s figures, rising from $1.02bn (£830m) in 2018 to $1.06bn in the first 6 months of 2019”. The article goes on to explain that over the last 12 months, we have nearly doubled our investment over that of France, Germany and the rest of Europe combined.
Historically, the UK has a great reputation for its contribution to IT and technology investment through IT science based skills and by demonstrating research and leadership within this area. At this point in the digital revolution it is inspiring to discover how technology investment such as AI could change so many industries of the future from Medical to Automotive, Environmental to Manufacturing.
Technology investment is a positive step for the UK
The way in which we execute new IT tools within industry could not only be great for our country’s economy in terms of exporting globally but could also create many jobs and employment opportunities for the UK.
The challenge for the future now lies heavily in technology investment and how it is used to develop AI to be resilient and even combat against cyber crime. How AI may be used to protect us against cyber hacking has never been more relevant.
Through our technology insurance and intellectual insurance packages, Crendon Insurance Ltd is here to support companies who are carrying out research or developing new products through technology investment. To find out how we could help your business further please contact us for a confidential review of the digital products and services you are looking to bring to market.
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