Today, 10 February 2022, the Government has announced up to £23 million in Government funding to create more Artificial Intelligence (AI) and data conversion courses. This aims to help young people from underrepresented groups join the UK’s AI industry.
The Government is encouraging companies to match-fund the AI scholarships for the conversion courses, as a result, the industry would get more people into the AI and data science job market quicker and strengthen their businesses. The new scholarships will ensure more people can build successful careers in AI, create and develop new and bigger businesses, and will improve the diversity of this growing and innovative sector. There will be two thousand scholarships for masters AI conversion courses, which enable graduates to do further study courses in the field even if their undergraduate course is not directly related.
AI underpins the apps which help us navigate around cities, stop online banking fraud and communicate with smart speakers. The UK is ranked third in the world for private venture capital investment into AI companies (2019 investment into the UK reached almost £2.5 billion) and is home to a third of Europe’s total AI companies.
An independent organisation, to be announced later this year, will be responsible for encouraging industry participation and investment in the AI Scholarships scheme.