New British Government Cuts £1.3bn Technology Investment Plan

Uploaded on 2024-08-07 in TECHNOLOGY-Key Areas-Quantum Computing, TECHNOLOGY-Key Areas-Artificial Intelligence, TECHNOLOGY--Developments, NEWS-Cybersecurity News, FREE TO VIEW

The new Labour government in Britain has cancelled £1.3bn of funding promised by the previous Conservative government for investment in technology and Artificial Intelligence (AI) projects.

The project was announced in 2023 and included £800m for the creation of an exascale super-computer at Edinburgh University and a further £500m for AI Research Resource, which funds computing power for AI.

The industry 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.

The original funding was announced in October last year and Edinburgh University is reported to have already spent £31m on constructing housing for the computer. The Department for Science, Innovation and Technology (DSIT) said the money that was promised by the previous administration was never allocated in its budget. The Edinburgh machine would have been 50 times faster than any current computers in the UK, the university said at the time.

Right now, the future of the Edinburgh exascale super-computer is unknown

There is global competition to build the next generation of immensely powerful exascale supercomputers and the project was considered to be a priority by the previous Conservative UK government. “Developing this computing power also benefits society beyond lifting economic growth, helping us tackle climate change and power the discovery of new drugs,” said the UK Government plan in November 2023.

"The government is taking difficult and necessary spending decisions across all departments in the face of billions of pounds of unfunded commitments," said DSIT in a statement. "This is essential to restore economic stability and deliver our national mission for growth."

The DSIT has also announced that Matt Clifford, who was one of the organisers of the inaugural AI Safety Summit held at Bletchley Park in November 2023, had been asked to draw up an action plan for identifying new "AI opportunities"- including infrastructure.

The technology sector is considered a valuable part of the UK economy, with an estimated valuation £850 billion ($1.1 trillion) of and important for the economic growth that the Labour government has pledged to prioritise. Slow progress with AI and leaving the Edinburgh University in the lurch with computing places the government's commitment in doubt.

Image: Ideogram

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