The UK government will fund AI training for small and medium-sized businesses
The UK Government has announced it has 6.4M available to fund small and medium-sized businesses (SMEs) looking to train their workforce on AI technologies. SMEs can apply until May 31st. Successful applicants will receive an up to 50% reimbursement from their AI training investment.
The UK Government’s Department for Science, Innovation and Technology (DSIT) has announced the availability of £6.4 million for small and medium-sized businesses (SMEs) looking to train their workforce on AI technologies. The (DSIT) recognizes the value of AI training as a strategy to "future-proof" businesses and encourages SMEs to invest in AI skills to gain a competitive edge by unlocking the productivity gains and cost reductions that AI automation and optimization can provide. SMEs employing under 250 staff members can bid for a share of the funding until May 31st, 2024. DSIT expects to benefit around 2000 businesses in sectors including law, accounting, scientific research, and human resources with a grant for up to £10,000, which will work as a reimbursement of up to 50% of the investment made in AI upskilling.
As part of the effort to incentivize AI training, the DSIT, Innovate UK, and The Alan Turing Institute have developed the AI Skills for Business Competency Framework, which provides guidance and assistance to everyone involved in the process of AI adoption in an organization, so they can better understand the opportunities, limitations, and ethics of using AI in a business setting, and the high-level skills required from employees to support AI adoption.
