Cisco has pledged $100m to spur digital innovation in the UK and as part of its commitment has linked up with University College London (UCL) to open one of the world’s largest Artificial Intelligence research centres.
Prime Minister Theresa May said: "The decision by Cisco to make such a significant commitment to digital innovation across the UK is welcome news and is a vote of confidence in our Modern Industrial Strategy.
“I particularly welcome the new AI research centre in partnership with UCL. Research has shown that AI could add £232bn to the UK economy by 2030 and developments like this will help with our ambition to put the UK at the forefront of the AI and data revolution."
Cisco Chairman and CEO Chuck Robbins stated: “Technology is permeating everything we do, not only opening up new markets, but creating more opportunities for individuals, businesses and countries.
"Cisco is committed to driving innovation in the UK and to our continued partnership with the UK government through our Country Digital Acceleration programme."