The £2.1m funding from the Welsh Government will be used across three schemes aimed at supporting small businesses, entrepreneurs and microenterprises in Wales to effectively embed AI into their business practices.
A portion of the funding will be donated to Business Wales to launch an AI awareness and adoption support programme. The £600,000 scheme has been set up following the recommendations of a recent review into improving the productivity of small and medium-sized businesses in Wales.
A further £500,000 will be provided to increase the use of AI by the tourism and events sector in Wales. This includes an AI implementation project by Hartley Center Cardiff Hub (HCCH) and Cardiff University Digital Transformation Innovation Institute (DTII).
A further £1 million will fund AI training through the Flexible Skills Program (FSP), focused on closing the digital skills gap and supporting inclusive growth. Employers pay 25% of AI training costs and 50% for other FSP courses.
Rebecca Evans, Cabinet Secretary for Economy, Energy and Planning, said:
“This significant funding builds on the strong showcase of Welsh innovation, technology and ambition in dynamic and forward-looking sectors at Wales Tech Week and the Wales Investment Summit.
“AI is transforming the business sector, increasing productivity and driving change. This program of AI awareness, adoption and upskilling will help ensure small and medium-sized enterprises across all sectors in Wales are ready to optimize the potential of emerging AI technologies in a responsible, inclusive and ambitious way.”
“This will play a key role in delivering the Wales AI Plan, enabling people, communities and businesses across Wales to realize the benefits of artificial intelligence.”
Skills Minister Jack Sargent added:
“We recognize the huge potential of AI to drive business development and economic growth and are determined to do everything we can to support the ambitions of small and medium-sized enterprises in Wales to develop the skills they need for future success.
“Our hugely successful flexible skills program is already benefiting thousands of businesses across Wales and this £1 million funding will help close the digital skills gap and accelerate the ethical and responsible uptake of AI in a rapidly evolving digital economy.”
