Deadline: 31 May 2024
The Flexible AI Upskilling Fund pilot scheme is supporting SMEs in the Professional and Business Services Sector by match-funding AI skills training for their employees.
The Department for Science, Innovation and Technology (DSIT) recently announced a £7.4 million pilot scheme to subsidise the cost of AI skills training for small and medium-sized enterprises (SMEs) in the Professional Business Services sector. £6.4 million of grant funding is available.
Through this pilot programme, eligible business can apply for funding for up to 50% of the cost of AI skills training. This is training which supports employees to develop their technical skills and/or understanding of AI to be able to develop, deploy, or use AI in their role.
Objectives of the programme
- Artificial Intelligence holds huge opportunities to drive productivity and prosperity across the UK economy. It has the potential to increase UK GDP by up to 10.3% by 2030 – the equivalent of an additional £232 billion – and businesses who adopt AI are more likely to be successful than those that do not.
- But evidence shows that a lack of AI skills in businesses is hindering AI adoption, in part due to low investment in AI upskilling in UK businesses, particularly in smaller companies.
- This pilot programme will test whether training SMEs in AI maximises the value of adoption AI. Specifically, whether government support in the form of match-funding is an effective way of increasing employer-led upskilling in AI, and whether increased skills translate into AI adoption and firm-level productivity benefits.
- Specifically, the pilot has the following objectives:
- To stimulate employer investment in AI training
- To address AI skills gaps in the UK workforce limiting AI adoption
- To measure the impact of AI upskilling on business productivity and outcomes
Available Funding
- Micro Business: Turnover Under €2 million – £2,500 Maximum
- Small Business: Turnover Under €10 million – £5,000 Maximum
- Medium Business: Turnover Under €50 million – £10,000 Maximum
Eligibility
The funding competition is open to applicants who:
- are registered and operate in the UK
- employ between 1-249 employees in the UK
- are defined as an SME per the BEIS SME Action Plan
- have been operating for at least 1 year
- are able to match-fund 50% of the cost of the training, and
- operate in the Professional and Business Services (PBS) sector.
For more information, visit Department for Science, Innovation and Technology.
