The Chancellor Philip Hammond said the funds would keep the UK at the forefront of disruptive technologies. However, the funding was criticised as inadequate by some in the industry, who pointed out that it can cost hundreds of millions of pounds to develop one technology alone.

While of course any investment in our technology industry is welcome, a leading world economy like the UK should be more decisive in its efforts to boost the development of disruptive technologies, said Adolfo Hernandez, the chief executive of language software firm SDL.

A 270m pot to cover everything from artificial intelligence, robotics, driverless cars and new biotech isnt big when you put it into context. The US spent more than $1bn (820m) on R&D in AI-related technologies alone in 2015. For the UK to be a true global leader in these areas, we must be prepared to provide adequate funding and support.

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Budget 2017: Funding for robotics and batteries dismissed as ... - Telegraph.co.uk