UK government to offer £100m fund for AI startups tackling public services.
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The UK government is launching a new £100m fund for AI startups focused on improving public services. This initiative aims to support projects in critical areas such as healthcare, cybersecurity, and defence, with successful ventures potentially securing contracts ranging from £250,000 to £10m. Additionally, the UK will open its new AI Economics Institute, led by MIT professor Simon Johnson, to foster collaboration with G7 partners.
UK AI startups that can help improve public services will be able to compete for a share of a new £100m government fund.
The programme targets priorities including healthcare, cyber security and defence, with winning projects eligible for contracts worth £250,000 to £10m.
Most deals are expected to fall between £1m and £3m, while smaller firms may receive upfront payments.
The announcement follows criticism of a £330m, seven-year NHS contract awarded to US software company Palantir by the previous government.
The UK will also open its new AI Economics Institute, led by MIT professor Simon Johnson, to collaboration with G7 partners.