BusinessFinanced.co.uk has unveiled a comprehensive research report titled ‘AI Business Rankings 2024‘, shedding light on the top cities across the United Kingdom for artificial intelligence (AI) enterprises. This detailed study evaluates 59 locations, offering valuable insights into the factors that contribute to thriving AI ecosystems and helping stakeholders make informed decisions.
Key factors for ranking
The report’s rankings are based on four critical criteria: AI-related job vacancies, the number of AI-related businesses, online search volume for AI-related phrases, and the 5-year business survival rate. By examining these factors, the report provides a holistic view of each location’s potential for supporting AI business growth and sustainability.
Top-ranking cities
Cambridge leads the list as the top location for AI businesses, demonstrating a balanced performance across all metrics. Bristol and Reading follow closely, with strong showings in AI job vacancies and business density. Other cities in the top 10 include Lincoln, Newcastle upon Tyne, Southampton, Gloucester, Slough, Oxford, and London, each offering unique advantages for AI enterprises.
Emerging patterns and unexpected findings
The report reveals several interesting patterns and unexpected findings. For instance, smaller cities like Lincoln and Gloucester are emerging as promising locations, offering high business survival rates and growing interest in AI technologies. Exeter and Tunbridge Wells stand out for their impressive business survival rates, despite being smaller markets. Meanwhile, Slough demonstrates an exceptionally high demand for AI professionals, highlighting the diverse opportunities across the UK.
Challenges and opportunities
While larger cities like London have the highest number of AI-related businesses, they also face intense competition and lower job vacancy rates per person. This contrasts with cities like Newcastle upon Tyne, which, despite its smaller size, provides a more supportive and thriving environment for AI businesses.
Intended audience
The report is invaluable for a variety of stakeholders, including entrepreneurs and start-up founders looking to establish AI businesses, investors and venture capitalists seeking lucrative opportunities, policymakers and government officials aiming to foster AI development, and educational institutions preparing the future AI workforce.
Future prospects
Looking ahead, the report suggests that the UK’s AI landscape is poised for continued growth and diversification. As cities invest in technological advancements and support infrastructure, they will likely see further improvements in their rankings. The findings highlight the importance of fostering a supportive environment for AI businesses to thrive, ensuring sustained growth and innovation across the country.
For more information on the full report, visit https://www.businessfinanced.co.uk/ai-business-rankings-2024/
