Britain ‘risks falling behind’ in its mission to become an AI superpower if it fails to address crippling energy costs and grid delays, Labour has been warned.
The country’s ability to cash in on the AI revolution – which has supercharged demand for critical infrastructure, including data centres – could be under threat, according to technology trade association TechUK.
Matthew Evans, its chief operating officer and director of markets, called on the Government ‘to move decisively’ to help boost economic growth. Without action, firms could look abroad to invest instead, TechUK warns.
Warning: Britain ‘risks falling behind’ in its mission to become an AI superpower if it fails to address crippling energy costs and grid delays
Data centres need a lot of energy and their electricity prices are around four times higher than those in the US.
TechUK has called for targeted discounts to be given to important digital infrastructure projects to help reduce costs.
Evans said if action is not taken, ‘the UK risks falling behind’.
DIY INVESTING PLATFORMS
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.