Half of all UK SMEs began using AI in 2023. To succeed in a competitive market, all organisations must join the AI revolution.
How can an SME training budget afford the skills needed for scale? Join the UK Government’s Flexible AI Upskilling Fund pilot to create your AI Leaders for less with Cambridge Spark, the AI training experts.
What is the Flexible AI Upskilling Fund?
As part of its 10-year strategy to make Britain an AI superpower, the UK Government is providing £6.4 million of grant funding for Artificial intelligence training. The fund subsidises the cost of skills training for SMEs in the Professional and Business Services and other related sectors.
Eligible businesses can apply for funding for up to 50% of the cost of AI skills training. Training courses support employees to develop both their understanding and technical skills, empowering them to use artificial intelligence for a multitude of activities and purposes in their role.
AI Risk vs Opportunity - Should My Business Be Using AI?
AI and Automation are top priorities for UK SMEs in 2024, with 58% planning to invest in AI over the next year. Your competitors are already enjoying the benefits of AI for SMEs, and with co-funded training programmes, so can your business.
AI brings an unprecedented set of risks and challenges, including security and privacy concerns, intellectual property risks, diversity and inclusion bias, and broader economic and ethical implications. With thousands of technologies available, it’s hard to know where to start - but with the right knowledge and support, AI risks are mitigated quickly and challenges turned into opportunities.
AI leadership training is designed to help Executives, Directors, Managers and other business leaders to navigate the emerging world of AI, regardless of existing skills and knowledge. Interactive workshops from industry specialists provide all the frameworks and techniques you need to transform AI from an unknown threat into a vital business asset.
How Valuable is Artificial Intelligence to UK SMEs - How Will My Business Benefit?
The British Business Bank lists a multitude of benefits for artificial intelligence adoption in smaller growing businesses, including:
Productivity
Save hundreds of hours’ work every month to focus time and resources on business-critical projects
Efficiencies
Automate routine tasks to make processes faster and deliver savings
Customer Acquisition
Harness and act on meaningful data insights to find and engage new customers
Customer Experience
Improve customer service, communication and satisfaction, with a notable impact on customer retention and referral volume
Growth
Identify short-term opportunities and improve strategic decision-making for sustainable long-term growth
How Do I Apply for Funded AI Skills Training?
Be registered in and operate in the UK
Employ under 250 employees in the UK
Fulfil the small-to-medium-sized business criteria of under €50 million annual turnover and a balance sheet total of less than €43 million
Have operated for at least one year
Operate in the Professional and Business Services sector as defined by the following Standard Industrial Classification (SIC) codes: M - 69, 70, 71, 72, 73 and 74; or N - 77, 78 and 82
Be able to match-fund 50% of the cost of the training.
Determining how the funding will support AI adoption in your business.
Which are below for you to copy and paste easily:
Name: Cambridge Spark
UKPRN: 10063309
Course Titles: AI for Leaders / Mastering Machine Learning with Python / Level 7 AI and Data Science Apprenticeship (choose the course that fits your needs)
How the Course Meets the Definition of AI Training - Cambridge Spark is an officially recognised ESFA provider and DfE partner specialising in providing AI apprenticeships, bootcamps and professional AI courses. Cambridge Spark’s courses are designed and delivered by industry experts, academics and alumni from top universities.
The scheme is designed as a competitive process and applications will be ranked by an independent evaluating body. By registering interest, you will be kept informed of the latest updates and developments regarding the programme. Applicants will be updated as to the success of their application in summer 2024.
Why is Cambridge Spark the Best AI Training Provider For My Business?
The Data & AI Specialists
We’ve trained over 5,000 Data and AI professionals for some of the fastest-growing and most successful UK businesses
Highest Quality Standard
Our training programmes are designed by industry experts and delivered by tutors and alumni of the world’s leading Universities
CogX Best AI Course 2023
As the UK’s first AI apprenticeship provider, we’ve also been judged the best. Our pioneering courses are designed for impact, with a personalised learning experience that accelerates tangible outcomes for learners and businesses.
UK Government Approved
As a registered learning provider verified by the Education and Skills Funding Agency, Cambridge Spark are officially recognised for our training standards and qualify to deliver as part of the Flexible AI Skills Fund.
How Can I Upskill Myself or My Teams in AI With The Skills Fund?
Empower Your C-Suite
AI for Leaders Course
The latest artificial intelligence best practices for Executives, identifying key organisational risks, and tapping into new AI capabilities for business
Why is the UK Government investing in artificial intelligence skills?
Insufficient AI skills in businesses are hindering AI adoption, particularly in smaller companies. The Government is subsidising skills training to incentivise employer-led investment that delivers productivity benefits for individual businesses and the UK economy. The Fund is a pilot scheme that will assess the impact of co-funded training on SME productivity and revenue, and may be extended at further dates if successful.
What training is eligible?
In your application, you will be asked to outline which training provider and course you would like to use to upskill your employees. The Government is allowing a wide range of training, courses, and certifications with the following eligibility:
Is related to core AI skill sets and supports the adoption of AI in the workplace, including Data Science, Machine Learning and Natural Language Programming
Starts no earlier than July 2024 and ends no later than 31 March 2025
Is not already subsidised by Government funding eg skills bootcamps
Is delivered by an eligible training provider that is at least one year old, registered in the UK, at least one year old, and registered on the UK Register of Learning Providers.
The UK Government determines that SMEs will need more support with training than larger organisations. Smaller businesses in the professional services sector are projected to deliver the greatest impact from harnessing artificial intelligence.
Applications opened in May and have been extended until 11.59pm on 18 August 2024. When you have submitted your application, please let us know so that we can keep you updated and provide everything you need to get started.
The scheme provides funding at a ratio of 1:1. For example, an SME can apply for £5,000 of grant funding to allocate towards an AI training programme costing £10,000. There are three different funding bands depending on headcount, annual turnover and balance sheet total:
£2,500 funding available per applicant for micro businesses: under 10 headcount, an annual turnover of under €2 million and a balance sheet total of under €2 million
£5,000 funding available per applicant for small businesses: under 50 headcount, an annual turnover of under €10 million and a balance sheet total of under €10 million
£10,000 funding available per applicant for medium businesses: under 250 headcount, an annual turnover of under €50 million and a balance sheet total of under €43 million.
If my application is successful, when will the funding be provided?
Grant funding will be provided to successful applicants after notification that their application has been successful. Funding will be available for use in the financial year 1st April 2024 – 31st March 2025.
If my application is unsuccessful, how can I upskill my team in AI?
Unsure if the Flexible Skills Fund is right for your team? Speak to our Data & AI specialists for more information about the fund and how AI skills training can power your business growth.
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