HomeTechUK SMEs can now bid for funding to train employees in AI

UK SMEs can now bid for funding to train employees in AI


Related stories


The UK Government’s Department for Science, Innovation and Technology has that announced a pot of £6.4M will be made available for businesses to train their workforce to use artificial intelligence.

The DSIT urged companies to “future-proof” their businesses, citing a national need to incentivise investment in AI skills “to ensure they retain a competitive edge through increased productivity and reduced costs.” Small and medium-sized businesses (SMEs) are able to bid for a share of the money between now and 31 May.

Sectors set to benefit include law, accountancy, scientific research and human resources, with the UK Government making up to £10,000 available for each business. The SCIT’s statement gives examples including accountants using generative AI tools such as ChatGPT to draft documents, employees developing new software which could help to tackle fraud and legal professionals harnessing the power of AI to analyse lengthy documents.

Around 2,000 SMEs will be awarded these grants. Businesses employing under 250 staff can now apply for the support, which will see successful applicants reimbursed for up to 50% of the cost of investment in AI skills training.

The DSIT, Innovate UK and The Alan Turing Institute have developed The AI Skills for Business Framework to identify the skills and knowledge their employees might need to use AI.

Technology Secretary Michelle Donelan said:

“Businesses of all sizes and across all sectors, from architecture to law and HR to advertising, are identifying the huge benefits that AI can bring in helping staff boost their productivity while cutting business costs.

“I have launched this new pilot to help SMEs interested in AI adoption make it a reality by contributing towards the cost of upskilling their employees – ultimately increasing efficiency so companies can retain a competitive edge in an increasingly digital world.”

Image: Jamie Street on Unsplash

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories