London most supportive hub for developing AI according to Indian business leaders

New survey shows:

· The majority (87%) say London more supportive than other leading AI hubs for the development of AI technologies

· 94% very confident in capital’s ability to attract & retain talent in next 12 months

· Almost three in five (59%) cited supportive government incentives & policies tailored for AI development as London’s key advantage

· Data privacy & security (64%), infrastructure & scalability, as well as standing on a global competition basis (56%) top of mind when choosing location of business

National, 12th June 2024 – New research by London & Partners shows that the majority (87%) of Indian business leaders surveyed in the AI sector consider London to be more supportive of AI development than other leading AI hubs.

These findings come as over 200 Indian delegates, including Bahwan Cybertek, Productiva, Visionet, Network Science, LS Digital, Vajra Global, Thingstel, VenPep Solutions, Ad Astra Consultants, Xforia and Helios Batteries gather in the capital for London Tech Week, Europe’s hottest tech event.

Nearly three in five (59%) respondents cited supportive government incentives and policies tailored for AI development as London’s key advantage, while 54% highlighted access to international markets and global business opportunities as another significant benefit of being located in the capital.

Location is unsurprisingly a top consideration for Indian business leaders at AI companies, with over nine out of ten (94%) surveyed stressing the importance of being located in a city that actively addresses factors which include the likes of data privacy and security (64%), as well as infrastructure and scalability (56%).

The good news for London is that it ranked highly in both areas, with 91% of respondents believing it will be effective in helping address data privacy and security in the next twelve months and 88% confident in the capital’s infrastructure and scalability.

When asked why London will be effective in these areas in the next year, almost three in five (58%) respondents said that the capital has a favourable regulatory environment promoting ethical AI development, while 57% said that London has a well-established infrastructure and technological ecosystem conducive to AI innovation and growth. Additionally, 94% of decision-makers surveyed at Indian AI companies said that they are very confident in the capital’s ability to attract and retain talent over the next twelve months.

Hemin Bharucha, Regional Director of India and Middle East at London & Partners, said: “London’s unique blend of talent, infrastructure, and supportive government policies creates an ideal environment for AI companies to thrive. Indian AI companies looking to expand globally will find London to be a fertile ground for innovation and growth. London Tech Week underscores the city’s commitment to technological advancement and international collaboration, offering Indian AI companies ample opportunities for innovation and growth in the sector.”

When asked how London can maintain its attractiveness for international AI companies over the next twelve months, 36% of respondents highlighted the need for strong infrastructure and a robust technological ecosystem, while 34% pointed to continued international competitiveness and visibility.

To learn more about London Tech Week, including the agenda – featuring speakers on AI from Microsoft, IBM, and GSK, please visit www.londontechweek.com.