The government has announced billion of pounds of additional investment in AI to drive growth, create jobs and spread prosperity.

A new AI Growth Zone has been announced for South Wales. £10 billion of investment will unlock at least 5,000 jobs, including in industrial heartlands like the former Ford Bridgend Engine Plant.

Welsh Cabinet Secretary for Economy, Rebecca Evans said: "I am delighted that South Wales is to become the UK’s latest AI Growth Zone, with the potential to create thousands of new jobs and unlock billions in investment.

"Now with two AI Growth Zones announced in a week, Wales will be at the forefront of the global AI revolution, well-placed to take advantage of the exciting new opportunities this offers for our economy.

"This announcement, just days before Wales Tech Week, signals the Welsh and UK Government’s ambition to ensure our country maximises the benefits from AI and digital technology."

Elsewhere, the government will act as a first customer for promising UK start-ups who are building high-quality AI hardware products but currently struggle to get off the ground without investment. This advance market commitment is back by up to £100 million of government support.

Venture capitalist James Wise is set to chair the Sovereign AI Unit, which will be backed by almost £500 million in investment to help build and scale AI capabilities on British shores.  The unit will bring together government, industry and investors, to become the go-to fund for high potential start-ups and scale-ups in the UK.

Furthermore, new AI ambassadors will help to maximise the benefits of AI for Britain. For example, Nobel prize winning British Massachusetts Institute of Technology (MIT) economist and former Chief Economist of the International Monetary Fund (IMF) Simon Johnson will act as a standard bearer with public services and businesses to help them take up AI technology to boost productivity.
 

The government will also be offering more free compute to British researchers and British startups, so they can so they can train new AI models and deliver scientific breakthroughs.

Finally, a new AI strategy is being unveiled to help AI supercharge scientific discovery. This will be backed by up to £137 million in government funding. It will begin by focussing on harnessing AI to speed up the research of new drugs and treatments.

Secretary of State for Science, Innovation, and Technology, Liz Kendall said: "We are ambitious for our country and believe Britain’s best days lie ahead. Today we’re announcing a package of measures that ensure we seize the opportunities to get jobs and growth in every part of the country.

"The backing by international investors today is a vote of confidence in the UK – and we’re determined to do even more to ensure we are backing British businesses, workers and researchers to benefit from the opportunities AI brings. This is about bringing jobs, opportunities and hope to the people and places that need it most, delivering on our promise of change."

Secretary of State for Wales Jo Stevens said: "Wales will now have 2 brand-new AI Growth Zones bringing thousands of jobs to both North and South Wales and driving economic growth across the country.

"South Wales is already the home of a growing tech industry and this major investment in the region will help cement the UK’s place as a global leader in AI."