The UK’s AI sector has been valued at $92bn (£72.3bn), larger than any other country in Europe, according to new data.

The ‘UK Tech in the Age of AI’ report from Tech Nation found that in the first quarter of 2024, 16% of all UK VC investment went to AI startups.

According to the report, the UK is home to more than 1,800 VC-backed AI startups, with 20 unicorns including Synthesia, Wayve and Stability AI.

The data put the UK at the top of Europe for AI investments and fourth globally behind the US, China and Israel.

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