At London Tech Week, the UK government announced a £2.3bn (~€2.6bn) investment in key technology sectors, including the development of artificial intelligence.
The event, held in London, UK, from 11-17 June, will be visited by 55,000 attendees and host a number of events focused on many different aspects of technological innovation and business. Among the areas being explored at this year’s event are the development of artificial intelligence, the role of big data and the internet of things, and the opportunities for tech companies to work in the UK.
The event has already seen a number of large international businesses announce new investments in the UK technology sector. This includes Amazon, which will create 2,500 jobs in the UK, and Salesforce, which plans to invest some $2.5bn (~€2.12bn) in the UK over the next five years, and open a second data centre in the country in 2019.
Meanwhile, businesses such as Ocado, Rolls Royce and Amazon have backed a new government scheme to facilitate the development of artificial intelligence by creating a new masters programme for artificial intelligence, and £1bn in investments.
What were the key announcements about technology and innovation?
One announcement made at London Tech Week is the upcoming launch of a new ‘start-up visa’ in Spring 2019, which aims to make it easier for entrepreneurs hoping to start technology companies in the UK access visas to do so, replacing a previous system which was only open to graduates.
UK Prime Minister Theresa May welcomed the announcements for the positive impact they could have on businesses, and on the UK’s position as a world leader in technology and innovation. She said: “The measures we are announcing today will allow innovative British start-ups to invest in their future – and in the UK – by hiring more skilled people, expanding their business and exporting their expertise across the world…. Our modern industrial strategy will drive continued investment, ensuring the nation flourishes in the industries of the future and creating more high-paying jobs.”
