Two Manchester based companies are joining the UK’s first Applied AI growth programme, as it is also reveals that UK AI investment is reaching record highs.
The announcement comes on the day when in the first six months of 2019, AI investment in the UK has reached an all-time high – making it a record year for AI funding growth
Investment in AI technology grew almost six-fold from 2014 to 2018, with UK AI scaleups raising almost double that of France, Germany and the rest of Europe combined last year.
2019 is set to be another year of record funding growth in AI in the UK, building on four years of consecutive growth. In the first 6 months of this year, AI funding in the UK has already surpassed 2018’s figures.
As a result, the UK is currently third in the world for raising investment in AI, behind only China and the U.S. respectively for the number of AI companies in operation during 2019.
Dream Agility and DigitalBridge have been identified as one of the UK’s future leading AI companies.
Elizabeth Clark, CEO, Dream Agility, Manchester commented: “We’re delighted to have made it onto the Applied AI scheme. It’s the first of its kind and to have a peer group of people with their own proprietary AI in such a fast moving sector is phenomenal. There’s a lot to be gained by learning from each other’s successes and failures, as well as being able to leverage each other’s networks. It’s a race to scale and having a scheme that will support us in doing that is a gift!”
David Levine, CEO, DigitalBridge, Manchester commented: “We’re really excited that a panel of internationally-renowned industry experts in AI and Scaleups have selected DigitalBridge for Tech Nation’s new Applied-AI Growth Programme. It’s a validation of what we’ve been doing for some time in using AI to disrupt the world of bathroom and kitchen design and remove friction we know prevents purchases – allowing consumers to design and buy their dream room easier and quicker. The programme will allow us to learn from the best in the business, and scale DigitalBridge from a Manchester startup into an international AI business.”
The inaugural sector programme aims to support the AI founders that are making a positive and tangible impact on today’s society at a crucial stage of their growth journey.
The cohort were chosen on their ability to provide AI-driven solutions to real world problems, applying artificial intelligence to create a tangible impact on society. T