I was encouraged to see this article from AI News indicating that VC investment in UK AI companies hit a record in Q2 2022, with £3.2 billion having been invested so far. The article highlights that the positive data comes from Tech Nation and Dealroom, with Tech Nation noting that investment is on track to “at least equal” last year (although the article does point out that this assessment was made prior to the recent market turbulence in the UK).
With the AI space growing rapidly and becoming ever more crowded, it is important that AI companies pay close attention to their IP. For example, despite common misconceptions, many AI inventions can in fact be patented in the UK. Indeed, the UK's patent office (UKIPO) are keen to see innovation in the AI sector and have recently published guidance on patenting AI.
Getting expert advice early during the product development process is vital to ensure that all IP rights have the best chance of being secured. If you would like to discuss any aspect of IP relating to software/AI, please do get in touch and our dedicated software/AI team will be happy to assist.