The Oracle American Technology Group said on Monday that she was planning to invest $ 5 billion in the UK over the next five years to satisfy the “fast growing demand” for cloudy services that help start artificial intelligence.
“The investment will expand the trace of Oracle Cloud Infrastructure in the UK and the help of the UK Government to submit its vision of innovation and adoption of AI,” Oracle added in a statement.
Prime Minister Keir Starmer has pledged to facilitate the bureaucracy to attract billions of pounds of investment to make Britain “AI SuperSila”.
Oracle’s founder, Larry Ellison, is a close ally of US President Donald Trump, with whom Starmer hopes to enter into a trade agreement after Brexit.
“Working with global technological leaders like Oracle, we cement the position of the UK at the helm of the AI revolution,” British technology minister Peter Kyle said in a joint statement.
Britain currently has the third largest AI industry after the United States and China.
Starmer’s administration estimated that AI could be worth £ 47 billion ($ 61 billion) in the UK every year over a decade.
The government has already announced that three technological companies – Vantage Data Centers, NSCALE and Kyndryl – will be obliged to spend £ 14 billion on AI in the UK, which has led to more than 13,000 jobs.
However, there are concerns that sector implementation of AI could result in job loss as technology replaces the tasks performed by humans.
The UK is seeking clarification on the application of the AI copyright law, which he says is aimed at protecting the creative industry despite the widespread care among artists.
This story is originally shown on Fortune.com
