Gloucester has been named the 7th best location in the UK for AI enterprise by a leading business website.
Based on factors such as the longevity of companies, career opportunities and local interest in the technology, the city beat the likes of London and Manchester to a place in the top 10 of the AI Business Ranking 2024, which uses data gathered by independent business banking and finance website, Business Financed.
The ranking defines an AI business as 'an enterprise that specialises in the development, implementation, or utilisation' of AI technology to offer products, services, or solutions, focusing on areas such as machine learning, natural language processing, computer vision, robotics and data analytics.
The locations were ranked against four criteria: the number of AI businesses; the number of AI-related job vacancies; the five-year survival rate of AI businesses; and online search volume for AI-related phrases.
A report on the findings says the ranking shows that the strengths of AI businesses are not just confined to a single area such as London, but are spread throughout the UK.
It also highlights that while Gloucester demonstrates lower AI job vacancy rates, across a total of 41 businesses, it boasts high business survival rates of 47.8 per cent, suggesting that existing AI businesses in the county are stable and thriving.
Neighbouring Cheltenham, which is home to the Golden Valley Development and is aiming to become the cyber capital of the UK, came in at a respectable 17th out of 60 locations, with 13 AI-related businesses with a five-year survival rate of 43.4 per cent.
The strength of the south west is also bolstered by Bristol which came in at 2nd on the list, with 101 AI businesses and a survival rate of 42.8 per cent.
