UK AI Economy Valued at £1.36 Trillion, Projected to Reach £2.4 Trillion by 2027, Placing it Number 3 in Global AI Race

The AI economy in the UK is currently valued at £1.36 trillion ($1.7 trillion), and projected to reach £2.4 trillion ($3 trillion) by 2027, according to new findings released as part of UK AI Ecosystem, a first-of-its-kind open-source AI knowledge platform launched today, placing the UK in third place in the global AI race.

Developed by Global AI Ecosystem with the support of AI Industry Analytics (AiiA) and Deep Knowledge Group, the platform is designed as a universally accessible environment for community interaction, collaboration, content and knowledge sharing across the UK AI ecosystem.
According to new research conducted by AiiA as part of its Global AI Economy Size Assessment report, the UK’s AI industry is in a state of rapid expansion, with over 8,900 companies operating in the sector. The UK AI economy’s valuation of GBP 1.36 trillion underscores its substantial contribution to the national GDP, with around 4100 investment funds focused on AI (600 of them based in the UK) fuelling financial confidence in the field.

The presence of 500000 UK-based AI specialists also indicates a robust workforce driving innovation, showcasing the UK’s ability to develop, retain and attract a massive cohort of AI talent. This large AI labour force serves not only to boost GDP, but also act as a strong safety net against rising unemployment.

In addition, the government is actively prioritising its national AI agenda, with 280 ongoing projects leveraging AI technology. This should come as no surprise, with the UK having named AI as one of the major pillars of its national industrial strategy, pursuing this agenda on many levels, ultimately giving the UK one of the most proactive national AI strategy in the world.