Small and medium-sized businesses developing AI solutions in high-growth sectors including food and beverage, construction, transport and logistics, and the creative industries could receive a share of £7m in the launching two new competitions today (Friday April 26).
The funding comes from UKRI’s Technology Mission Fund and is provided by Innovate UK’s Bridge AI programme, which supports businesses with access to training and scientific expertise, as well as offering wider expert advice and guidance.
The first of these competitions is supported by £5 million in funding and will function as a feasibility study for a range of AI solutions that address the business challenges facing the industry, so that it can take advantage AI transformation opportunities.
These solutions could help overcome a range of potential obstacles and increase productivity, including using data to advance decision-making, automating administrative tasks to free up more time for an organization’s staff and refining how supply chains are sourced and managed.
The competition closes on Wednesday, May 8, and applicants can propose a range of responsible and reliable AI solutions that will all increase productivity. It is aimed at small and medium-sized businesses (SMEs) looking to tackle a series of challenges in collaboration with another small business or academic institution.
Ahead of the application deadline, UKRI engaged extensively with potential applicants, including hosting an in-person workshop and an online information session which both took place last month.
The second competition will see around 100 projects working in areas such as fashion and agriculture able to apply for a share of £2 million.
Closed on May 8, these projects have already received funding through the competition and are now encouraged to apply for additional investment that will allow them to develop their ideas into groundbreaking AI innovations.
Previously funded projects through this competition include an AI-powered fabric recycling tool for use in the fashion industry, AI solutions that help fire and rescue services in the whole country to move their fleets towards net zero emissions, and new solutions to detect and predict diseases in grape crops. .
These competitions underline the UK’s commitment to a pro-innovation approach to AI, which is at the heart of its regulatory approach to the technology.
February’s response to the White Paper on AI Regulation sets out the roadmap that the UK Government will follow to ensure that AI innovations can deliver transformative change for citizens across the country.
Further details and assistance for applicants completing the online application page can be found here.
Minister for AI and Intellectual Property, Viscount Camrose, said:
“AI is the defining technology of our generation, and we encourage companies and universities to work together to bring the next wave of brilliant AI innovations to life.”
“These competitions are further proof of our commitment to pursuing a pro-innovation approach to AI, which is at the heart of our plans to manage this technology successfully and safely.
“There is no doubt that AI is a technology that requires a team effort, whether it’s our approach to security or exploring how we can exploit its incredible opportunities. By working together, we can harness the enormous potential of AI to increase productivity and bring transformative change.
Dr Kedar Pandya, Principal Responsible Owner of the UKRI Technology Missions Fund and Executive Director of Cross-Council Programs at the UKRI Engineering and Physical Sciences Research Council, said:
“These two new competitions funded by the UKRI Technology Mission Fund will help develop new AI solutions to boost productivity across many of the UK’s high-growth sectors.
By bringing together businesses and research organizations through these funding opportunities, we are helping to accelerate the adoption of AI technologies and deliver benefits to our society and the UK economy. »
