Potential and focus - what business leaders think of Chancellor’s plans

Potential and focus - what business leaders think of Chancellor’s plans

Dr. Arnab Basu, chief executive of Kromek, says increase in defence investment and innovation-led growth are welcome developments.

Industry figures call for further investment in AI to boost UK economy

Chancellor Rachel Reeves used her spring statement to announce plans for more investment in AI technology for the public sector and defence.

Chancellor Announces £3.25B AI Fund, Industry Demands Strategy

In a move that has sparked both praise and criticism, Chancellor Rachel Reeves announced a £3.25 billion Transformation fund, partly aimed at driving AI adoption in the public sector. This initiative, coupled with a £2.2 billion defence spending hike, including a ringfenced 10% for high-tech weaponry, signals a significant push towards AI integration in the UK. However, industry leaders argue that… Source

UK commits £3.25bn to public services and AI in spring statement to drive growth and productivity

Chancellor Rachel Reeves has pledged £3.25 billion to public service reform in her spring statement, placing artificial intelligence (AI) and cutting-edge technology at the heart of government efforts to boost productivity, modernise operations, and support long-term economic growth. The investment comes amid a challenging economic backdrop, with the Office for Budget Responsibility recently halving its GDP growth forecast from 2 per cent to aro…

Chancellor announces £3.25 billion into public services calling on AI to drive economic growth amid Spring Statement

UK Chancellor Rachel Reeves has invested £3.25 billion into public service reforms, placing technology and AI at the centre of the government’s strategy to drive economic growth, boost public sector efficiency, and maintain the country’s global competitiveness. This funding will drive down the cost of running the public sector through the use of AI by enhancing productivity and streamlining operations. Through the use of AI to modernise the stat…