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Artificial Intelligence (AI) and Data

Continued improvements in machine learning combined with the growing availability of data sets is pushing the development of AI further than we imagined.

Expected to add £654bn the UK’s economy by 2035, according to research by Accenture, there are currently more than 1,000 AI start-up and SMEs across the country – with the new generation of internationally successful AI scale-ups growing.

According to the Tech Nation, ‘UK Tech on a Global Scale‘ Report (2019), the total amount of capital raised by UK AI companies reached a record level of $1.3 billion during the previous year, with UK based AI start-ups raising almost double that of France and Germany combined.

AI and the Industrial Strategy

Successful team leader (manager, CEO, market leader) and another business leading concepts. Standing out from the crowd.

Ambitious plans to put the UK at the forefront of the AI and Data Revolution are set-out in the Government’s modern Industrial Strategy; as one of its 4 Grand Challenges. Industries in their own right, they are also transforming business models across sectors (for example in Life Sciences).

 

Further plans are detailed in the Government’s AI Sector Deal, an agreement with industry to boost the UK’s global position as a leader in developing such technologies.

The University of Oxford’s Guide to Artificial Intelligence

Within the Thames Valley, the University of Oxford has world-leading expertise in AI, with dedicated, research-based programmes.

 

There has been rapid development in AI, particularly the subfield known as machine learning, and in machine vision, with Oxford researchers at the forefront of this revolution. Crucial scientific breakthroughs are at the core of this progression.

 

The University recently produced its ‘Guide to Artificial Intelligence’, which can be viewed here. It describes how machine-learning techniques are allowing clinicians to diagnose more accurately conditions such as heart disease; how the banking and finance sectors are being revolutionised by algorithms; and the move towards a world of driverless vehicles.

AI at Oxford is changing the world. Discover how in this video.

Highlighting the fundamental scientific research underpinning these world-changing applications – research carried out by mathematicians, statisticians, computer scientists and information engineers – the publication also includes the views of key voices in ethical, social and legal debates.

Microsoft urges UK Businesses to step up AI use

If UK businesses want to be competing in the global arena, then they must be doing more to harness the power that AI can bring. A Microsoft survey found that those organisations who were already using AI widely in their operations are more productive, see higher profits and produce better business outcomes. There is a significant worry that the gap between those companies effectively using AI and those that are still testing or not using it at all is widening. AI presents more opportunities for businesses to think about innovation, it allows them to drive their business models, better their customer service provisions and boost production. But the Microsoft report found that organisations were failing to re-skill their employees in order to make the most of technology, with only 19% of business leaders having completed training to improve their understanding of AI.
“The results are clear: UK businesses and public sector organisations that forgo or delay implementing AI solutions risk missing the boat on driving down costs, increasing their competitive advantage and empowering their workers. Given this moment, where both UK leadership and competitiveness on the global stage is more vital than ever, there is no doubt that fully embracing AI-led digital transformation is a critical success factor for UK businesses, government and society.”

Cindy Rose, CEO - Microsoft UK