Tech Nation, a leading growth platform for UK tech companies, has released new data on the growth of the AI tech ecosystem in the UK.
New data reveals the huge growth achieved in the UK’s AI sector over the past ten years. The UK is now home to over 1,300 AI companies, up from only 180 companies in 2011, representing a 600% increase. AI companies are scaling across all regions of the UK, with 50% of the UK’s top 10 scaling AI companies outside of London.
The UK’s major AI hubs include Cambridge and Edinburgh. Not only are the UK’s scaling AI companies driving growth across the UK economy, with prevalence in FinTech (10%), cyber (5%) and healthtech (4.5%), the AI sector is also an important engine of growth, with a collective valuation of US$46.3 billion (up from US$1.6 billion in 2011), turnover of almost US$2 billion and employing almost 30,000 people across all regions of the UK.