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Inside the UK’s AI company incorporation boom

UK AI companies
Image credit: artyway / Shutterstocl

It’s boom time for AI companies, with UK startups specialising in artificial intelligence raising $4.5bn in equity funding in 2023, according to Dealroom data. The number of newly incorporated UK companies with “AI” in their name tells a similar story of businesses looking to ride the wave.

In the first 86 days of the year, more companies whose name includes “AI” have been incorporated with Companies House than in the entirety of 2021, according to an exclusive UKTN analysis of data. In all, 457 companies have been registered with the UK’s database of trading companies so far in 2024 – more than the 441 throughout 2021.

With 5.3 AI companies being registered on average each day, this year looks likely to outstrip the pace of new registrations in 2023, where 1,470 were incorporated over 365 days – a little over four each day....