More than £6m AI upskilling fund launched to help SMEs

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From today (1 May) small and medium-sized enterprises (SMEs) can bid for a share of £6.4 million to help train their workforce to use artificial intelligence and in turn boost productivity and efficiency.

Sectors set to benefit include law, accountancy, scientific research and human resources, with the UK Government making up to £10,000 available for each business so they can embrace cutting edge and efficiency boosting new technology.

SMEs in these areas will be able to tap into the power of AI to streamline tasks, boost productivity, and drive growth. This could include accountants using generative AI tools such as ChatGPT to draft documents, develop new software which could help to tackle fraud, and legal professionals harnessing the power of AI to analyse lengthy documents such as contracts to provide concise summaries, freeing up time to focus on other critical areas.

By adopting the enormous potential of AI technologies, SMEs across the country will be able to not only improve productivity and drive down costs, but to devote more time to identifying new areas of growth which will deliver new and improved services for consumers.

Expected to support around 2,000 SMEs across the country, businesses employing under 250 staff can now

 link source - East Midlands Business Link General

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