UK launches AI unit backed by £500m fund

(Sharecast News) - The UK government on Thursday launched its Sovereign Artificial Intelligence Unit to help domestic firms in the sector.



Backed by a £500m, the government acting as a state-backed venture capital partner to anchor high-growth AI firms to avoid them relocating outside the UK, officials said.

The unit will operate like a venture capital fund making targeted investments in firms aligned with economic growth and national security.

Reporting by Frank Prenesti for Sharecast.com