UK Shifts Gears Towards AI Leadership Amid Industrial Challenges

The UK pledges increased computing capacity to bolster the AI industry while EG Group plans a $13 billion US IPO. Britain's chemical industry faces decline due to high energy costs, and a coal error led to a British Steel furnace closure. The PM emphasizes AI and tech-focused education.

The United Kingdom is set to become a leader in artificial intelligence as Prime Minister Keir Starmer promises a substantial boost in computing capacity. This initiative aims to transform the UK into a global hub for AI by creating data center zones and promoting more tech-focused education.

Meanwhile, the EG Group, backed by private equity, is preparing for a $13 billion IPO on the New York Stock Exchange. The company, known for its petrol stations, is looking to expand its influence with this move, which could occur as early as this year.

In the industrial sector, Britain's chemical industry is reportedly on the brink of collapse, indicated by soaring energy costs and carbon taxes. Additionally, British Steel faced operational setbacks last year when a mistake in coal selection led to the closure of a blast furnace at Scunthorpe, highlighting ongoing challenges.

(With inputs from agencies.)