Cisco invests $100m into UK AI sector
Networking giant will also partner with UCL to develop new AI research centre.
In an effort to help drive digital innovation in the UK, Cisco has announced a $100m investment in the country's growing AI scene.
The networking giant will partner with University College London (UCL) to open one of the world's largest research centres for AI which will house over 200 UCL academics and researchers. The new centre will also aid in developing the UK's AI talent pool.
Prime Minister Theresa May and digital secretary Jeremy Wright have both backed Cisco's initiative which will operate alongside the government's own industrial strategy.
Cisco's chairman and chief executive, Chuck Robbins explained the firm's reasoning behind its investment in the UK's AI sector, saying:
"We believe that the UK’s expertise in AI and its commitment to making sure future innovators have the right digital skills will help ensure the nation’s citizens are well-positioned to capture the opportunity ahead."
After meeting with Robbins at Downing Street, May called Cisco's investment a “vote of confidence” in the government's industrial strategy.
In addition to AI research, the funding will be used to further develop the company's mobility initiative Project Swift as well as a digital inclusion program for the elderly.