What does 2020 have in store for AI in the UK?

The artificial intelligence (AI) industry in the UK is primed for growth in 2020. It is already touted as the AI capital of Europe, boasting nearly 500 start-ups in the space – a third of Europe’s total and twice as many as any other country on the continent. It is also home to globally renowned AI giants like Deepmind.

Despite this, progress on the AI front has been overshadowed by countries like the US and China, which have made it their mission to ensure their domestic industries are at the forefront of innovation and growth. The pooling of investment and resources into AI should generally be regarded as a positive development, however, it does also mean increased market competition as a result.

So, as we prepare for the beginning of the new year, what lies on the horizon for the UK’s AI industry in 2020 and how likely is it to change the way businesses and organisations carry out certain tasks? I offer some of my initial projections below.

Putting education at the heart of AI

We cannot deny that educating the next generation of AI developers and data scientists, as well as arming current professionals with the knowledge they need to effectively deploy AI, must lie at the heart of any strategy.

Notable efforts have been made to ramp up investment into AI education, but the UK needs a much greater injection of funding into educational programmes and apprenticeships to ensure the country has an appropriately skilled workforce of trained professionals and engineers.

The government’s announcement of £18.5m worth of investment to fund AI conversion degrees marks a positive step in the right direction. At its core is the aim of increasing relevant skills and supporting those who want to retrain and upskill in order to progress in their careers or find new employment.

I hope to see this momentum fortified in 2020.

AI needs government support

More generally, I would like to see the government commit more funding to the AI industry in the coming year. While strong efforts have already been made – investment into AI technology grew almost six-fold from 2014 to 2018, with the UK currently third in the world for raising investment in AI – it still trails behinds China and the US.

How can the government better support the industry? I believe that the answer lies in focusing on helping AI companies scale. Indeed, while the UK is home to a healthy ecosystem of start-ups, there is a distinct lack of support for small companies who want to grow beyond simply being an early-stage business.

The focus must therefore be on training and support to ensure that start-ups not only have access to a wider talent pool but are also supported financially in their efforts to make a positive contribution to society through AI. This could be through dedicated investment funds, grants or simply access to resources and mentors to ensure more AI start-ups can scale-up.

Supporting the workforce

One trend that we are certain to see in 2020 is the ongoing uptake of AI automation in the private sector.

After all, AI’s main strength is its unparalleled ability to automate repetitive, complex and time-consuming tasks, leaving professionals to carry out more creative and value-adding responsibilities. The data management functions of a business, which include finding, analysing and extracting insights from data, can therefore be left to AI toolsets.

The challenge now lies in ensuring that all business leaders are well-versed in how they can derive the most value from this technology. A common misconception is that AI is a single offering, when in fact it is a catalogue of offerings.

Different businesses across different sectors will see value in different toolsets – for instance, financial service providers might utilise digital assistants to offer a personalised customer experience, while retailers might find more use in using AI tools to forecast demand and sales. Working together, the industry and the government must give businesses greater clarity about the different types of AI and how they can be used to streamline their processes.

At the same time, it’s important for business leaders and managers to help their employees upskill. In practice, this means ensuring that employees understand how they can use AI to help them work smarter – not harder. There are few areas of innovation that have the power to define the future of the UK’s economic and society than AI. I am looking forward to seeing what 2020 has in store for the industry, and how this technology will ensure more businesses and organisations are able to operate efficiently.

Nick Kairinos is the CEO and co-founder of both Prospex and Fountech. Prospex is a sales and marketing solution that delivers AI-powered leads. Developed in partnership with LOMi and Fountech, a leading AI development company, Prospex applies sophisticated AI technology to provide qualified, hyper-personalised and cost-effective leads for small businesses through to large corporates.