UK Government Shelves $1.66 Billion Tech and AI Plans

An anonymous reader shares a report: The new Labour government has shelved $1.66 bn of funding promised by the Conservatives for tech and Artificial Intelligence (AI) projects, the BBC has learned. It includes $1 bn for the creation of an exascale supercomputer at Edinburgh University and a further $640m for AI Research Resource, which funds computing power for AI. Both funds were unveiled less than 12 months ago. The Department for Science, Innovation and Technology (DSIT) said the money was promised by the previous administration but was never allocated in its budget. Some in the industry have criticised the government's decision. Tech business founder Barney Hussey-Yeo posted on X that reducing investment risked "pushing more entrepreneurs to the US." Businessman Chris van der Kuyl described the move as "idiotic." Trade body techUK said the government now needed to make "new proposals quickly" or the UK risked "losing out" to other countries in what are crucial industries of the future.

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