Rishi Sunak, the British Prime Minister, intends to allocate £100 million (approximately $130 million) to purchase computer chips. These computer chips aim to fuel AI. This decision comes amidst a worldwide scarcity of such chips and the ongoing competition to secure computing capabilities. The Telegraph reported on August 20 that the UK wants to establish an “AI Research Resource” by mid-2024.
The UK to Become an AI Tech Hub
This initiative aligns with Sunak’s strategy to transform the nation into a prominent AI technology hub. Reports indicate that the government procures computer chips from NVIDIA, Intel, and AMD manufacturers. UK Research and Innovation is in the final phases of acquiring 5,000 NVIDIA graphics processing units (GPUs).
Difficulties
Despite allocating $130 million, these funds might fall short of meeting Sunak’s aspirations for the AI hub. This discrepancy could lead government officials to advocate for additional funding during an upcoming AI safety summit in November.
Following recent developments, it is evident that many companies are encountering difficulties when attempting to implement AI. This is due to the scarcity of resources and technical challenges.
There is a funding gap in the UK’s AI computing capabilities compared to the US and EU. A March-published independent review revealed this. Researchers had access to fewer than 1,000 NVIDIA chips for training AI models during that period. In response, a panel recommended that the UK provide a minimum of 3,000 top-tier chips to address the pressing needs.
S&P Global’s global AI trend report, published on August 16, highlighted a notable trend among numerous firms. These companies expressed their lack of preparedness to fully embrace AI technology, primarily due to insufficient computing power. Also, the complexities associated with data management and security concerns were a major issue.
S&P’s senior research analyst, Nick Patience, emphasized a crucial determining factor in the race to AI leadership. According to Patience, the ability to effectively handle AI workloads will ultimately dictate which entities emerge as frontrunners in this domain.
The featured image is from coin republic.com
