Rachel Reeves allocates £2.5 billion for AI and quantum technology growth

Chancellor of the Exchequer Rachel Reeves announced a £2.5 billion investment in artificial intelligence (AI) and quantum computing to stimulate the UK economy, citing these technologies as critical for future growth. Speaking at the annual Mais Lecture, she outlined plans for the UK to lead the G7 in AI adoption and to pioneer large-scale quantum computing. This funding includes £2 billion for enhancing quantum capabilities and £13.8 million for National Quantum Research Hubs focused on healthcare and national security.

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