Aligned to the UK's Industrial Strategy, the commitment will support partnership with industry, government and academia across the nation.
As one of the first initiatives to be announced, Cisco and University College London (UCL) will partner to open one of the world's largest artificial intelligence research centres, with a focus on addressing industry challenges and developing AI talent in the UK.
Prime Minister Theresa May said: "The decision by Cisco to make such a significant commitment to digital innovation across the UK is welcome news and is a vote of confidence in our Modern Industrial Strategy.
"I particularly welcome the announcement of the new AI research centre in partnership with UCL. Research has shown that AI could add £232bn to the UK economy by 2030 and developments like this will help with our ambition to put the UK at the forefront of the AI and data revolution."
Today the UK's digital industry ranks fifth in the world based on seven key factors that impact a nation's ability to embrace technology - including infrastructure, technology adoption, skills, basic human needs, business and government investment and start-up environment (Gartner & Cisco). With a proven link between digital readiness and GDP, digital can help improve everything from public services to national productivity.
The UK Government's Industrial Strategy outlines four 'Grand Challenges' aligned to some of the greatest issues facing society, which today, Cisco's Country Digital Acceleration (CDA) programme is committing to help address:
In the past decade, Cisco has committed over $1.5bn (£1.2bn) in digital and innovation investment and projects in the UK, initially through a programme announced in 2011 to create an innovation legacy following the London Olympic Games.
In 2015, the UK was one of the first governments with whom Cisco made a commitment to help accelerate digital outcomes for the nation through its CDA programme. Cisco's CDA strategy is a long-term partnership with government, industry and academia to help deliver real outcomes faster and more effectively for the nation.