Cisco will be investing $100 million to accelerate digital innovation in the UK, supporting partnership with industry, government and academia.
As part of the initiative, the IT and networking company has collaborated with University College London (UCL) to open one of the world’s largest artificial intelligence (AI) research centres, with a focus on addressing industry challenges and developing AI talent in the UK.
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 announcement of 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.”
In the last decade, Cisco has committed over $1.5bn in digital and innovation investment and projects in the UK, initially through a programme announced in 2011 to create an innovation legacy following the London Olympic games.
Chuck Robbins, chairman and chief executive of Cisco, said: “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.”
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