Jeremy Hunt's new 'Manchester Prize' seeks to reward best AI research with £1m
Chancellor Jeremy Hunt announced the plan alongside his intentions for an “AI sandbox” to boost support for artificial intelligence businesses in the UK.
The Chancellor also explained his vision for a “quantum strategy” to support the future of computing during the Budget.
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Hide AdMr Hunt said: “We will launch an AI sandbox to trial new, faster approaches to help innovators get cutting edge products to market, work at pace with the Intellectual Property Office to provide clarity on IP rules so generative AI companies can access the material they need.”
Mr Hunt committed £900m to implementing recommendations for an Exascale supercomputer.
"The power that AI’s complex algorithms need can also be provided by quantum computing,” he said.
He added: “I also want to encourage the best AI research to happen in the UK so will award a prize of £1m every year, for the next ten years, to the person or team that does the most ground-breaking British AI research.
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Hide Ad"The world’s first stored-programme computer was built at the University of Manchester in 1948, and was known as the ‘Manchester baby’.
"75 years on, the baby has grown up, so I will call this new national AI award ‘the Manchester Prize’ in its honour.”