The US Tech Group Oracle Group said on Monday that it plans to invest $ 5 billion in the United Kingdom over the next five years to meet the “rapidly demanding demand” for cloud services that help to push artificial intelligence.
“The investment will expand the imprint of the infrastructure in the UK cloud and assist the UK government to fulfill its vision to innovate and adopt artificial intelligence,” Oracle added in a statement.
Prime Minister Kiir Starmer has pledged to reduce the red tape to attract billions of pounds from investing to help make Britain a “great power of Amnesty International.”
Oracle founder, Larry Ellison, is a close ally of US President Donald Trump, who hopes Starmer to conclude a trade deal after Britain from the European Union.
“By working with global technology leaders such as Oracle, we claim the UK site at the forefront of the artificial intelligence revolution,” said British Minister of Technology, Peter Kyle, in the joint statement.
Britain currently has the third largest artificial intelligence industry after the United States and China.
The Starmer Administration estimated that artificial intelligence could amount to 47 billion pounds ($ 61 billion) for the United Kingdom every year over a decade.
The government has already announced that three technical companies – Vantage, NSCALE and Kyndryl Data Centers – would adhere to spending 14 billion pounds to artificial intelligence in the UK, which leads to the creation of more than 13,000 jobs.
However, there are fears that implementation at the sector level of artificial intelligence can lead to job losses because technology replaces the tasks of humans.
The UK is seeking an explanation about the application of the copyright law to artificial intelligence, which it says aims to protect the creative industry despite the widespread anxiety of artists.
This story was originally shown on Fortune.com
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