• Companies with AI in their name triple one year on from Chat-GPT launch
• London dominates UK AI landscape, hosting nearly half of all new AI-named companies
27th November 2023, London: Innovation in the UK's artificial intelligence sector has tripled following the debut of ChatGPT.
In the year since its launch, the number of new companies including 'AI' in their name has more than tripled, jumping to 1,284 - a 202% increase. This surge points to a significant shift in the landscape, underscoring the growing fascination and investment in AI technology within the UK.
A new study from Hard Numbers analysed UK Companies House data for companies with 'AI' in their name, to quantify the sector's expansion post-ChatGPT, acknowledging the method's proxy nature.
In the UK's evolving AI landscape, London stands out as the predominant hub, with nearly half of the new AI companies. Of the 1,284 new AI firms since ChatGPT's launch, 625 are based in London, far exceeding other cities. Manchester, the second-largest centre, hosts just over 3% of London's total. This stark contrast underscores London's unrivalled role in AI innovation, dwarfing the presence in academic strongholds like Cambridge and Oxford.
Cities ranked by AI company count since November 30th, 2022:
Companies launching with AI in their name in the UK:
This represents a 202% increase.
Paul Stollery, Co-founder and Creative Director of Hard Numbers, says:
“This data paints a clear picture: we have officially entered the fifth phase of the industrial revolution. The impact of AI will be as profound as that of any great technology to have come before it – from the first revolution of mechanisation and steam power, to the fourth, ushered in by the internet.
“The impact of ChatGPT on innovation in the UK is as impressive as you would expect. There has been a three-fold increase in AI companies launching in the UK following the release. And the rate at which companies are launching is accelerating.
“London dominates to a disappointing extent, with as many AI companies launching as the rest of the country put together. Levelling up the country is a complex thing. But I thought we would have gotten further by the time we passed the Turing Test. Clearly, that is not the case.”