Bristol has claimed second place in a table of leading UK towns and cities for its artificial intelligence (AI) ecosystem.
The ranking is based on a comprehensive analysis of 59 places across country in a pioneering research report carried out by BusinessFinanced.co.uk, a leading provider of financial insights and business research. 
The report evaluated key factors that contribute to a thriving AI ecosystem such as AI-related job vacancies, the number of AI-related businesses, online search volume for AI-related terms and the location’s five-year business survival rate.
Bristol ranked second, behind Cambridge, with the report highlighting its “impressive” online search volume per person (0.6703) and a solid count of AI-related businesses (101).
Its business survival rate stands at 42.8%, reflecting, said the researchers, “a stable and encouraging atmosphere for AI enterprises”.
By analysing key metrics that contribute to a thriving AI ecosystem, the report aims to provide valuable insights for interested stakeholders, guiding them in making strategic decisions about where to establish, expand or support AI operations within the UK.
Through identifying current trends and analysis, it also highlights the dynamic landscapes shaping the future of AI business.
The report classifies an AI business as an enterprise specialising in the development, implementation or utilisation of artificial intelligence technologies to offer products, services, or solutions.
These businesses may focus on areas such as machine learning, natural language processing, computer vision, robotics and data analytics.
It goes on to say that AI businesses are crucial because they drive innovation across various industries, enhancing efficiency, productivity and decision-making processes.
“By automating tasks, providing advanced insights, and enabling new capabilities, AI businesses contribute significantly to economic growth, create high-skilled job opportunities and help address complex societal challenges, ultimately shaping a more advanced and competitive future,” the report says.
Business West, the regional business organisation that runs Bristol Chamber of Commerce, last month identified AI as one of the 10 priorities for the next government to boost the South West economy.
To read the full BusinessFinanced.co.uk report, click here
