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The investment will help to fast-track a number of key initiatives as the UK government looks to develop its digital economy
Cisco has committed $100 million in investment to help cultivate digital innovation in the UK, according to a company report. The investment comes at an opportune moment for the UK government, as it looks to evolve the UK’s digital economy post Brexit.
"The decision by Cisco to make such a significant commitment to digital innovation across the UK is welcome news and is a vote of confidence in our Modern Industrial Strategy," said UK Prime Minister, Theresa May.
“I particularly welcome the announcement of the new AI research centre in partnership with UCL. Research has shown that AI could add £232bn to the UK economy by 2030 and developments like this will help with our ambition to put the UK at the forefront of the AI and data revolution," she added.
Over the past decade, Cisco has invested around $1.5 billion in digital innovation projects in the UK. Cisco has signed a long-term agreement with the UK which will facilitate ongoing investment into the country’s technology sector.
“Technology is permeating everything we do, not only opening up new markets, but creating more opportunities for individuals, businesses and countries. Cisco is committed to driving innovation in the UK and to our continued partnership with the UK government through our Country Digital Acceleration programme. We believe that the UK’s expertise in AI and its commitment to making sure future innovators have the right digital skills will help ensure the nation’s citizens are well-positioned to capture the opportunity ahead,” said Chuck Robbins, chairman and CEO of Cisco.
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