In sophisticated AI systems, machine learning development and utilisation, computer vision, chatbots and AI assistants, robots, internet-of-things, predictive analytics, search engines, language processing, and intelligent data analytics, the UK leads Europe and ranks third internationally.
- In 2021, investments in the AI field increased to £13 billion. Fintech leads in investor funding, with over 1000 new companies registered since 2018, followed by marketing, advertising, and healthcare.
- Security and data analytics were the fastest-growing areas in 2021, while AI Gov-tech and public-purpose have the most significant growth potential for 2022.
- London continues to be the most attractive city for investment and talent, with over 65 percent of the UK’s AI companies and start-ups based in the capital. It is also the financial, commercial, and advertising capital of Europe.
- In 2022, the commercial sector, universities, and government will need to work together to improve AI readiness, skills, and the study of ethics and policy creation.
Deep Knowledge Analytics, Big Innovation Centre, and Innovation Eye have released the most complete industry mapping to date, characterising, categorising, and analysing over 3,600 corporate and public sector entities spanning 20 sectors and 50 locations in the United Kingdom.
The open-access and IT platform ‘Artificial Intelligence in the UK: Industry Overview in 2021’ covers the latest advancements in technology and innovation, best ranking firms and investment centres, AI and COVID-19, policy and ethics, AI challenges and prospects for the UK. It also includes a list of the top one hundred AI experts and hubs in the UK, such as think tanks, innovation hubs, and PhD training centres.
With an estimated £9 billion investment growth for the industry between 2019 and 2021, the UK stays first in Europe and third globally, behind the United States and China, in developing AI technologies. Through measures in five critical areas – human capital, lab to market innovations, networking, regulation, and infrastructure – the UK government continues to support growth and industry development.
With over 70% of the UK’s AI enterprises and start-ups headquartered in London, the survey, backed by the All-Party Parliamentary Group on Artificial Intelligence, ranks London as the most attractive location for investment and talent. London is also the financial, marketing, and advertising capital of Europe. On the list of AI’s tech hotspots, Cambridge and Edinburgh came in second and third, respectively.
‘London accommodates 1300 AI companies, comprising 65% of the entire UK AI industry ecosystem, but it is notable that 700 other AI companies are distributed across the UK more broadly, making London the AI Capital of Europe and a true AI regional and global leader.’ said Dmitry Kaminskiy, founder of Deep Knowledge Analytics and co-founder of Innovation Eye.
More than 2000 AI-centric enterprises are identified and profiled across 20 AI industries and 50 localities in the UK in the 2021 analysis and report. The 2021 UK AI landscape analysis, in particular, breaks down more than £13 billion in investments from 1500 investors into these AI startups on a company-by-company basis.
Several interactive mind maps – industries, technologies, and influencers, data visualisation, and IT platform components – are also included in the release, allowing stakeholders and interested parties to analyse the project’s key findings and content in a more precise, dynamic, and personalised manner. These were created to help industry stakeholders get maximum value, increased interconnectivity, and industrial synergy.
The research replaces Innovation Eye’s ‘Artificial Intelligence Industry in the United Kingdom Landscape Overview,’ which was initially published in 2018 in collaboration with the UK All-Party Parliamentary Group on Artificial Intelligence.
‘As of today we can identify £9bn more investment into UK AI entrepreneurship since our previous analysis 3 years ago in 2018, with the largest sectors by funding being FinTech, followed closely by Healthcare, and Marketing and Advertisement” said Professor Birgitte Andersen, CEO of Big Innovation Centre and Co-founder of Innovation Eye.
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