The United Kingdom is set to dramatically bolster its artificial intelligence (AI) sector with a substantial £100 million funding injection, underscoring its ambition to become a global leader in AI technology and regulation. This strategic financial boost is aimed at enhancing the UK’s capacity to safely utilize AI across various domains including healthcare, education, finance, and telecommunications, while simultaneously positioning the country at the forefront of AI research and ethical deployment.
Central to this initiative is the government’s plan to establish new AI research hubs with a £90 million allocation. These hubs are intended to pioneer responsible AI applications in critical areas such as healthcare, chemistry, and mathematics. An additional £19 million will support 21 projects focused on developing safe and trusted AI tools to enhance productivity. The funding package also includes a £10 million investment aimed at upskilling regulators in key sectors, ensuring they are equipped to navigate the challenges and opportunities presented by AI.
Reflecting a commitment to a nuanced regulatory approach, the UK government has decided against establishing a central AI regulator. Instead, existing sector-specific regulators will be tasked with overseeing AI applications, a strategy believed to offer greater agility in addressing the fast-evolving nature of AI technologies.
The investment underscores the UK’s innovative stance on AI regulation, which has been praised for balancing the imperative for safety with the drive for technological advancement. Technology Secretary Michelle Donelan highlighted the potential of AI to transform public services and the economy, noting efforts to harness AI for advancements in healthcare and other key sectors.
Moreover, the funding extends to international collaborations and research projects aimed at defining responsible AI use, with significant contributions from the Arts and Humanities Research Council (AHRC) and the Engineering and Physical Sciences Research Council (EPSRC). These efforts are complemented by the government’s commitment to international science partnerships, particularly with the US, focusing on the development of safe AI tools.
This wave of funding builds on the UK’s earlier commitment to AI safety and regulation, including the establishment of the world’s first AI Safety Institute and partnerships with major tech firms to review new AI models before their public release. The collaborative nature of these initiatives, coupled with substantial financial backing, showcases the UK’s proactive approach to securing a leading position in the global AI landscape.
In line with this ambitious strategy, Chancellor Jeremy Hunt has announced plans to double the funding for the Alan Turing Institute, demonstrating a strong commitment to advancing AI research and application in fields critical to societal progress such as healthcare, environmental protection, and national security.
This financial commitment not only signifies the UK’s dedication to becoming a science and technology powerhouse but also reflects a strategic investment in the future of AI, aiming to catalyze innovation, bolster productivity, and ensure the ethical use of AI technologies across the board.
Chancellor Jeremy Hunt is set to announce a doubling of funding for the Alan Turing Institute, the national hub for data science and artificial intelligence (AI), during his Spring Budget announcement.https://t.co/BI5b4ERzzq
— City A.M. (@CityAM) March 6, 2024
