Ten teams from across the country have been selected as finalists for the inaugural Manchester Prize, a prestigious challenge award that rewards achievements in artificial intelligence for the common good.
The Prime Minister announced this as the AI Summit takes place in Seoul today, and the finalists will each receive a share of £1 million to develop their solutions over the next eight months.
Focusing on energy, environment and infrastructure in its inaugural year, the teams competing for the final £1 million prize are working to achieve breakthroughs in artificial intelligence that could help tackle food security, improve how solar energy flows into the electricity grid, and revolutionize . Battery manufacturing.
Treasurer Jeremy Hunt said: “With more than 50,000 people already working in this sector and billions expected for the UK economy over the next few years, the potential for AI innovation to help fuel our growth is enormous.
“That's why this financing is one of the best investments we can make.”
viscount Camrose, (in the picture) The Minister for Artificial Intelligence and Intellectual Property said: “This award puts fantastic British AI innovation at the heart of tackling some of the biggest shared challenges we face. Through the Government’s decade-long commitment, we are supporting our unparalleled AI talent from With an annual grand prize of £1 million to realize the next wave of game-changing technology solutions.
“I look forward to seeing the finalists develop their solutions further over the coming months, as we look to harness the incredible potential of AI to create transformative change in the energy, environment and infrastructure fields.”
The finalists for the Manchester Prize include:
Solar Quartz Nowcasting using AI through Open Climate Fix: Utilizing artificial intelligence to predict cloud formation, and enhancing the integration of solar energy into the electricity grid.
CRE.AI.TIVE from Phytoform Laboratories: Addressing food security challenges by discovering climate change-resistant crop traits using artificial intelligence.
Greyparrot Insight by Greyparrot.ai: Using AI waste analytics to map global waste flows, leading to improvements in recycling and packaging design.
Polaron by Polaron: Revolutionizing battery manufacturing through AI-based analysis of advanced materials.
In its inaugural year, Manchester Award He called on the ingenuity of innovators, academics, entrepreneurs and innovators to present their solutions using artificial intelligence for the public benefit. The award received nearly 300 entries from UK-led teams, showcasing a variety of pioneering ideas.
The finalists will each receive prizes of £100,000 to further develop their projects over the next eight months. In addition, they will benefit from comprehensive support packages, including funding for computing resources, investor readiness support, and access to a network of experts, setting them up for success in the pursuit of the £1 million grand prize in spring 2025.
The potential for AI-driven innovation to fuel economic growth is huge, with estimates suggesting it could generate £400 billion for the UK economy by 2030. Already, more than 50,000 people work in the AI sector, and growth is expected to exceed Market 15%. In the next six years, there are ample opportunities for new companies to flourish and contribute to the country's prosperity.
The UK is already seeing the results of how AI can drive investment in its economy, with the recent announcement that British AI company Wayve has secured a $1.05 billion investment to develop the next generation of AI-powered self-driving vehicles.
Dr Hayton Selem, Chief Executive of the Royal Academy of Engineering and one of the judges for the Manchester Prize, said: “British innovators have played a pivotal role in the advancement of computer and information technology that has changed the world we live in. Artificial intelligence has the power to support and improve productivity.” Delivering public services, making our national infrastructure work better, and accelerating the transition to a net zero economy. Choosing just ten finalists from such a diverse field of applications was difficult; Choosing a winner will be more difficult. I look forward to seeing how the ideas develop in the next few months.
With AI already starting to unlock huge opportunities in tackling climate change, transforming healthcare, and beyond, the Manchester Prize looks to spark further cutting-edge innovations in using AI for good, which will deliver real change for people around the world. The country.
The UK is committed to promoting innovation and harnessing the transformative power of artificial intelligence for the betterment of society. As these projects continue to develop and take steps towards achieving tangible impacts, they stand as a testament to the UK’s position at the forefront of AI innovation on the global stage.