Britain Banks on Robots, Artificial Intelligence to Boost Growth
- U.K. to provide $22 million in new funding to universities
- Development of AI sector could bolster economy, U.K. says
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Britain is betting that the rise of the machines will boost the economy as the country exits the European Union.
As part of its strategy to champion specific industries, the U.K. government said in a statement on Sunday that it would invest 17.3 million pounds ($21.6 million) in university research on robotics and artificial intelligence. The government cited an estimate from consultancy Accenture that AI could add 654 billion pounds to the U.K. economy by 2035.