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The new Labour government has shelved £1.3bn of funding promised by the Conservatives for tech and Artificial Intelligence (AI) projects, the BBC has learned.
It includes £800m for the creation of an exascale supercomputer at Edinburgh University and a further £500m for AI Research Resource, which funds computing power for AI.
Both funds were unveiled less than 12 months ago. The Department for Science, Innovation and Technology (DSIT) said the money was promised by the previous administration but was never allocated in its budget.
Some in the industry have criticised the government’s decision. Tech business founder Barney Hussey-Yeo posted on X that reducing investment risked “pushing more entrepreneurs to the US.” Businessman Chris van der Kuyl described the move as “idiotic.”
I just got back from a month-long visit to the UK after 5 years of absence, and growing up there for 30 years before that. 1.3BN could definitely be better spent on things that will improve the lives of thousands of people right now.
It doesn’t really matter since it sounds like the promised money was imaginary to begin with.
You need to invest in the future aswell as the present.
I agree with that, and AI is an interesting thing to invest in. I just think there are more immediate requirements for the country in the short term. I only saw a small part of the country, but it’s got significantly worse in 5 years, and will certainly not benefit from a small investment in Edinburgh or wherever this was supposed to go.
You need to invest in both. You might not get an immediate return on this investment. But it’s the future without a doubt. Investing in AI doesn’t mean money isn’t invested elsewhere too. It’s probably two different funding buckets anyways.