Small and Medium-sized Enterprises: AI Sector

Lord Kirkhope of Harrogate Excerpts

Thursday 29th October 2026 Lords Chamber

[Lord Leong (Lab)]

The noble Lord is right. We have to invest not only in compute power but in quantum. The Government have set up their programme whereby they will mobilise investment through the sovereign AI fund to invest in some of the supercomputers across the country.

[Lord Kirkhope of Harrogate (Con)]

My Lords, it is not just a matter of government resources. Many enterprising businesses are now coming into this field. I welcome the work going on in Yorkshire at present, to which the Minister referred. Surely, though, this is to do with even greater encouragement by government of those who are investing, to try to make that sure academia is heavily involved and that all the businesses that are raring to go to develop and innovate in AI are able to do so with full government encouragement.

[Lord Leong (Lab)]

The Government are absolutely encouraging universities and academics to support the Government’s programme on AI. As I said in answer to an earlier question, I have spent the last couple of weeks visiting various universities and science and technology hubs. All of us should really welcome the exciting start-ups being set up at these university science parks. The UK is not short of innovators and we have a pipeline. We will likely see some of our innovators be unicorn companies.