The UK’s ambitions to become a global hub for artificial intelligence got a boost today as billion-dollar American tech company C3 AI is to move its European base from Paris to London, the Standard can reveal.
C3, which uses AI to support the digital transformation of businesses, is set to ramp up recruitment of top tech talent in the capital to add to its existing team based in Finsbury square.
The firm said the relocation reflects its ambitions to seize on growth opportunities in the UK including developing digital healthcare services and boosting Britain’s energy supply.
C3 CEO Thomas Siebel said: “We have a great future here in London, and this move is a demonstration of our belief that the UK is at the forefront of technological innovation, and a key step to achieving our ambitious 2023 targets.
“The move welcomes the opportunity to attract the UK and Europe’s finest talent and will further establish C3 AI’s presence and brand in the United Kingdom.”
The decision adds C3 to a growing number of large-scale AI businesses in the capital, including cyber security firm Darktrace, legal tech firm Luminance and digital healthcare businesses Babylon and Benevolent AI.
London is now home to almost 1,300 AI companies – more than New York and double the combined number in Paris and Berlin, according to research by London&Partners, who estimate that UK GDP will get a boost of up to 10.3%, or £232 billion by 2030 as a result of the technology.
Michelle Donelan, Secretary of State for Science, Innovation and Technology said, “AI is one of the five critical technologies that are central to the Government’s Science and Technology Framework.
“C3 AI’s investment will create further highly skilled jobs and economic growth in the UK, while delivering the innovating technology to unlock solutions that transform healthcare, reduce energy prices and increase productivity.”
Founded by billionaire Thomas Siebel, C3 has a market cap of $3.8 billion and employs over 700 people worldwide.News Source: Yahoo Sports