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UK Tech Industry Looks to Attract AI Startups Away From Dominant Silicon Valley

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The UK tech industry is eyeing the top spot in AI startup development, despite setbacks. VC deals have decreased, but investors see potential in UK financing and regulation freedom. Experts note the UK's capacity for AI development, highlighted by recent events such as HSBC's acquisition of SVB UK and Google's consolidation of its AI research under DeepMind in London. University College London has created a £120m tech fund, and AI startups are receiving more investment than fintech firms for the first time since 2011. However, some see a lack of ambition in science and tech strategy hindering UK competitiveness.

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