""It's encouraging to see an intent to invest from UK businesses, with many turning that into action," said Matt Hammerstein, chief executive of Barclays UK Corporate Banking. "Against a backdrop of global uncertainty, there's more to do to build confidence in the UK as a place for businesses to grow and scale. "Our research suggests that AI is becoming a key tool to drive innovation, encourage investment and upskilling to lift productivity, and build confidence in the UK as a global business hub.""
"This week, Google, Microsoft, Nvidia, Oracle and OpenAI announced they are building out significant datacentre capacity in the UK. The increase in compute capacity offered by these datacentres is a fundamental part of Labour's AI plan of action, providing AI accelerations to drive business opportunities and streamline digitally enabled public services. To take advantage of this compute capacity, businesses will need to spend money on technology and invest in skills development."
Government aims for the UK to lead Europe in artificial intelligence capacity. Google, Microsoft, Nvidia, Oracle and OpenAI are building significant datacentre capacity in the UK. The increased compute capacity supports Labour's AI plan to accelerate AI adoption, drive business opportunities and streamline digitally enabled public services. Businesses will need to invest in technology and skills development to use the new compute capacity. An Opinium poll of 1,000 businesses for Barclays found average spend of almost £236,000 on AI and emerging technologies. Barclays' business prosperity index with Cebr reports averages: large firms £400,000; medium firms £225,500; small firms £125,000. Barclays highlights AI's role in innovation, investment and upskilling.
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