Mayor to help small businesses harness the power of AI

8 May 2019 02:50 PM

Mayor of London announces £200,000 fund to small businesses enhance their use of AI.

As part of the Mayor’s Technology for Business scheme Sadiq Khan has announced that he will give 200 small businesses in London a share of £200,000 to enhance their use of AI.

The first phase of the project will see 200 small retailers and hospitality companies offered access to a total pot of £200,000 to help them adopt these advanced tools. As part of the offer companies will also have access to training and a consultation with a dedicated case worker who will help them identify how AI can help support and grow their business.

Commenting on the initiative Sadiq Khan, Mayor of London, yesterday said:

"London is a leading hub for innovation in artificial intelligence and some of the advances being made right here in the capital are revolutionising how business is done.”

"Small businesses are the lifeblood of our economy, and I firmly believe these innovations should be available to companies of all sizes, not just the ones with the deepest pockets. This new initiative is an important opportunity for start-ups and scale-ups to harness the potential of exciting new technology”.

"I encourage small and growing retailers and hospitality companies to apply to this first round of the scheme, and to explore how AI can help improve their day-to-day operations and better meet the needs of their customers.”

The funding has been allocated by the Department of Business, Energy and Industrial Strategy (BEIS), and will delivered in partnership with the London School of Economics, Capital Enterprise and CognitionX.

Applications close at midnight on Monday 20 May. If you'd like to apply, please fill out the survey here.