IT firm Tech Mahindra on April 22 said it plans to create new revenue streams and add 1,000 jobs in the UK. The tech giant will collaborate with a leading academia and research institute in the UK to co-innovate at Tech Mahindra's Makers Lab in Milton Keynes, it said in a statement.

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As many as 1,000 jobs will be created by the company in the UK, the statement said. British Prime Minister Boris Johnson, who is on a two-day visit to India, made an announcement regarding a new collaboration between the two countries on AI. The initiative aims to grow innovation and prosperity in both the countries and harness the power of emerging technology to confront global challenges.

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"Trade and investment between the UK and India is creating good jobs and sustaining livelihoods in both of our countries. I am very pleased that Tech Mahindra has decided to join the legions of Indian companies investing in the UK, boosting our technology sector and driving economic growth," Johnson said in the statement.

Tech Mahindra Managing Director and CEO C.P. Gurnani said innovations and applications of artificial intelligence (AI) can significantly transform productivity and create revenue streams for businesses in the UK. "We are also committed to investing in the local communities we operate in, and initiatives like these help increase the employability of future technologists in the UK as well as globally," he added.

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