Alongside our daily news coverage, features and interviews, Verdict’s news team sifts through the week’s most intriguing data sets to bring you a roundup of the week in numbers.
This week we saw US grocery giant Walmart begin selling AI, the UK receiving a semiconductor boost, and Britain and Germany partnering for a quantum computing push.
Go deeper with GlobalData
Walmart to sell AI software to retailers as it diversifies business
Walmart is selling its AI software to other companies as the retail giant looks to diversify its business beyond department and grocery stores.
The US company is looking to sell its AI-powered software, which helps companies deliver goods more efficiently, after using it internally for the past two years.
Walmart says it has built an AI that helps delivery lorries map more efficient routes to their destination.
“We want to empower those businesses with the same technologies that have been running at scale at Walmart,” said Anshu Bhardwaj, senior vice-president and chief operating officer of Walmart’s global technology and commerce technologies businesses.
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By GlobalDataThe report follows the value of generative AI (GenAI) deals in the US almost doubling in 2023 as the technology becomes increasingly ubiquitous in the industry.
According to GlobalData's deal database, GenAI's value totalled $7bn in 2023. This marked a major increase over 2022 when deals totalled $3.3bn.
In 2018, the value of GenAI venture financing deals in the country was just $215m. The volume and value of GenAI deals have been rapidly increasing in the US, driven by the release of OpenAI's ChatGPT.
GlobalData forecasts that the overall AI market will be worth $909bn by 2030, having grown at a compound annual growth rate (CAGR) of 35% between 2022 and 2030.
In the GenAI space, revenues are expected to grow from $1.8bn in 2022 to $33bn in 2027, a CAGR of 80%.
British semiconductor industry receives £35m boost
The British semiconductor industry is receiving a £35m ($44.59m) boost from the UK Government towards research and innovation.
The money is part of a €1.3bn EU Chips Joint Undertaking scheme to fund collaborative semiconductor research.
British businesses and academics will be able to access this funding until 2027 and it is intended to consolidate the UK’s position as a leader in semiconductor manufacturing.
The UK Government stated that an additional £30m is due to be invested in academic research between 2025 and 2027.
The UK’s technology minister, Saqib Bhatti, announced the funding during a semiconductor conference in London.
“Our membership of the Chips Joint Undertaking will boost Britain’s strengths in semiconductor science and research to secure our position in the global chip supply chain,” Bhatti said.
“This underscores our unwavering commitment to pushing the boundaries of technology and cements our important role in shaping the future of semiconductor technologies around the world,” he added.
The value of AI venture financing deals in the country reached a peak in 2023, according to GlobalData's deal database.
AI deals in the UK totalled $3.7bn in 2023, marking a significant increase from just three years prior, which saw deals total $1.5bn in the country.
The value of deals in the UK saw a slight decrease in 2022, totalling $2.8bn, a slight increase from 2021, which saw deals reach $3.5bn.
UK and Germany forge research partnership for quantum computing
The UK and Germany have signed a new partnership to deepen science and research collaboration on quantum computing.
The Joint Declaration of Intent commits both nations to strengthening science and research links, focusing on AI, quantum technology and clean technology.
Leading science organisations from both countries, including the Max-Planck Society, the Royal Society, Universities UK and the Helmholtz Association, will collaborate to identify opportunities for teamwork on research and development.
A Strategic Working Group will be established by the UK and German governments to ensure concrete plans are developed and implemented.
The UK’s Science, Technology and Innovation Secretary, Michelle Donelan, and German Federal Minister of Education and Research Bettina Stark-Watzinger signed the Joint Declaration of Intent in London on 12 March.
Both officials emphasised the importance of collaboration in science and technology to address current challenges and foster joint research solutions.
Germany is the UK’s second-largest trading partner and a crucial science and research partner through initiatives like Horizon Europe and CERN.
The UK will use funds from the International Science Partnerships Fund to enable collaboration between UK and German researchers and innovators on key projects.
The partnership follows the value of quantum computing deals in the UK peaking in 2023, according to GlobalData's deal database.
In 2023, the value of quantum computing deals in the UK totalled $274m, a significant increase from 2022, which saw investment total $89m.
Leading industry commentators estimated the quantum computing market's size in 2022 to be between $500m and $1bn, rising to $10bn between 2026 and 2030, representing a CAGR of between 30% and 50%.
