Brace of firms among top UK artificial intelligence pioneers

Today, Tech Nation, the UK’s network for ambitious tech entrepreneurs, has announced the 29 companies, including two in Greater Manchester, joining the UK’s first Applied AI growth programme, as it is also reveals that UK AI investment is reaching record highs.

The inaugural sector programme aims to support the AI founders that are making a positive and tangible impact on today’s society at a crucial stage of their growth journey.

The cohort were chosen on their ability to provide AI-driven solutions to real world problems, applying artificial intelligence to create a tangible impact on society.

The cohort includes DigitalBridge, next to Manchester University, a guided design platform that enables retailers to help their customers design and buy their dream bathroom or kitchen.

Integrating directly into a retailer’s website, DigitalBridge guides their customers through the entire process, from concept to design to visualisation and completion. By reducing friction and difficult decisions, they enable retailers to shorten sales-cycles and increase conversion and revenue.

Bury-based Dream Agility uses Machine Learning and Visual AI to manage every aspect of Google Ads. From using Visual AI to attribute rich data from images, to MLoD (machine learning on demand) to disrupt the agency relationship, pass on massive savings and increase uplifts.

Investment in AI technology grew almost six-fold from 2014 to 2018, with UK AI scale-ups raising almost double that of France, Germany and the rest of Europe combined last year. 2019 is set to be another year of record funding growth in AI in the UK, building on four years of consecutive growth.

As a result, the UK is currently third in the world for raising investment in AI, behind only China and the US, respectively, and second in the world, behind the US, for the number of AI companies in operation during 2019.

Tech Nation’s Applied AI programme aims to support companies as they move from the early stages of growth, subsequently fulfilling a critical demand facing the AI tech sector.

The programme is also part of the Government’s AI Sector Deal’s ambition to make the UK the best place to start, grow, and scale an AI business.

The Applied AI programme is structured around sessions that focus on key scaling challenges which will be delivered by entrepreneurs.

The companies will have access to support from the programme partners: CBRE, RSM and Talent Works International, whose expertise and networks are an added benefit of being on the programme.

Gerard Grech, Tech Nation, chief executive, said: “With investment in UK-based artificial intelligence tech companies ranked third in the world, after the US and China, Tech Nation is delighted to announce such a strong first cohort of Applied Artificial intelligence companies.

“With 35% of the AI companies based outside London and 45% having at least one female co-founder, the UK could not be building a stronger and more diverse network of Artificial Intelligence excellence at this important time of technology development, globally.”

David Levine, DigitalBridge chief executive, said: “We’re really excited that a panel of internationally-renowned industry experts in AI and scale-ups have selected DigitalBridge for Tech Nation’s new Applied-AI Growth Programme.

“It’s a validation of what we’ve been doing for some time in using AI to disrupt the world of bathroom and kitchen design and remove friction we know prevents purchases – allowing consumers to design and buy their dream room easier and quicker. The programme will allow us to learn from the best in the business, and scale DigitalBridge from a Manchester start-up into an international AI business.”

Elizabeth Clark, chief executive of Dream Agility, said: “We’re delighted to have made it onto the Applied AI scheme. It’s the first of its kind and to have a peer group of people with their own proprietary AI in such a fast-moving sector is phenomenal.

“There’s a lot to be gained by learning from each other’s successes and failures, as well as being able to leverage each other’s networks. It’s a race to scale and having a scheme that will support us in doing that is a gift.”