Agorai invests £20m in UK AI market
Agorai, a marketplace for artificial intelligence (AI) tools, will invest £20 million in the UK AI market.
The multi-year investment will be distributed over the next five years. It will focus on three key areas: “education, empowerment, and entrepreneurship”.
Josh Sutton, CEO at Agorai, says: “This is a vote of confidence in the UK. AI has the potential to add 10% to UK GDP by 2030 if adoption is widespread, and our investment in the UK AI market shows our commitment to helping make this a reality.”
In terms of education, Agorai will provide grants and software licences to universities and research centres.
For “empowerment”, the company explains that access to AI should not be restricted to large businesses alone. It wants to tap into the SME market by offering two-week workshops, free of charge, to approximately 150 companies per year.
When it comes to entrepreneurship, Agorai will launch an AI accelerator in London providing funds to entrepreneurs. Start-ups will get access to business people and AI experts, financial funding, and receive “allotments” of Agorai licences.
To make a profit from all this, firms can then develop and deploy their software solutions on the Agorai platform.
To help drive this initiative, Agorai has appointed Sir George Zambellas, the former First Sea Lord of the Royal Navy, to their board of directors.
Bear with me landlubbers, but according to Agorai, Zambellas has had direct experience in the promotion of technical investment in autonomous systems, data exploitation and AI, and leadership in the cybersecurity and robotics industry.