UK’s AI Ecosystem Aims to Surpass £2.4T by 2027, Securing Third Place in Global Race
UK’s AI Sector Set to Skyrocket, Projected to Reach £2.4 Trillion by 2027
The newly launched Global AI Ecosystem open-source knowledge platform predicts that the UK’s AI sector will grow from £1.36 trillion ($1.7 trillion) to £2.4 trillion ($3 trillion) by 2027. This projection indicates that the UK will maintain its position as Europe’s AI leader and secure the third spot in the global AI race, behind the US and China.
The Global AI Ecosystem Platform
Developed with support from AI Industry Analytics (AiiA) and Deep Knowledge Group, the Global AI Ecosystem platform serves as a space for AI enthusiasts and professionals to interact, collaborate, share content, and exchange knowledge.
The UK’s Rapidly Expanding AI Industry
According to AiiA’s Global AI Economy Size Assessment report, the UK’s AI industry is experiencing rapid expansion. With over 8,900 companies operating in the sector, the AI economy’s valuation of £1.36 trillion highlights its significant contribution to the national GDP. The UK has approximately 4,100 investment funds dedicated to AI, with 600 of them based in the country. The presence of a robust workforce of 500,000 AI specialists in the UK drives innovation and strengthens its position in the global AI landscape.
National AI Agenda
One of the key factors contributing to the UK’s remarkable growth in the AI sector is the active prioritization of its national AI agenda by the government. The UK government has recognized AI as the most extensive industrial revolution and has committed to AI as a major pillar of its national industrial strategy. The government’s dedication is reflected in the 280 ongoing AI projects across the country.
Leading AI Hubs and European Leadership Status
Key cities like London, Cambridge, Manchester, and Edinburgh have emerged as leading AI hubs in the UK. These cities foster collaboration, provide access to essential resources, and contribute to the UK’s European leadership status in the AI field. London alone is home to nearly 5,000 AI companies, positioning it as a global competitor.
Comprehensive Assessment and Global AI Economy Projection
AiiA conducted a comprehensive assessment of the Global AI Economy, profiling 50,000 companies, 20,000 investors, 2,000 AI leaders, and 2,500 R&D hubs. Building upon previous reports, their estimation projects a global AI economy exceeding £27.2 trillion ($34 trillion) by 2027.
Dmitry Kaminskiy, Founder of AI Industry Analytics (AiiA) and General Partner of Deep Knowledge Group, emphasized the UK’s undoubtable leadership in the global AI arena and its potential impact on the nation’s integral infrastructure.
Conclusion
The UK’s position as a hub for science, R&D, DeepTech, and AI governance, combined with the government’s prioritization of AI, places the country in an advantageous position to leverage AI as a core engine of technological progress and economic growth.
