Stream 1, worth up to £500,000, will be made available to co-fund a virtual centre of excellence on AI innovation and decarbonisation till March 2025, while Stream 2, worth up to £1 million, will fund innovation projects which further the development of AI technologies to support decarbonisation.
Later in 2023, the government intends to make additional funding available to support priority areas in AI innovation identified by the virtual centre of excellence as being critical for achieving net-zero, an official release said.
The programme “will enable us to save energy costs for businesses and households, create high-value, skilled jobs, and kickstart millions of pounds of private investment while supporting our net zero targets,” science minister George Freeman said.
Projects specifically encouraged to bid for funding include uses of AI which could enable a faster transition to renewable energy, decarbonise industry by improving energy productivity and fuel switching, and decrease emissions in the agricultural sector.
The programme is expected to increase market growth in the United Kingdom, reduce the cost of energy for a more competitive UK industry, leverage private investment in AI and increase the consideration of ethics, bias and equity in AI technologies with decarbonisation applications.
ALCHEMPro News Desk (DS)
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