Britain plans £100 million investment in AI

Britain has committed to investing over £100 million ($125 million) to establish nine pioneering research hubs dedicated to artificial intelligence (AI). Additionally, funds will be allocated to train regulators extensively on the nuances and advancements of AI transformative technology.

“AI is moving fast, but we have shown that humans can move just as fast. By taking an agile, sector-specific approach, we have begun to grip the risks immediately,” technology minister Michelle Donelan said in a statement.

An allocation of nearly £90 million will be directed towards the establishment of these hubs, each concentrating on leveraging AI across vital domains such as healthcare, chemistry, and mathematics. Furthermore, the government highlighted a collaborative effort with the United States to advance responsible AI practices.

Also Read: UK, U.S. unveil global AI guidelines

An additional 10 million pounds has been earmarked to empower regulators to effectively manage the risks and capitalize on the opportunities presented by AI. This funding will facilitate the development of practical tools aimed at monitoring risks across various sectors, ranging from telecommunications and healthcare to finance and education.

In November, Britain played host to an international summit centred on AI safety. Over 25 participating countries endorsed the “Bletchley Declaration,” a pivotal agreement aimed at pinpointing shared risks and formulating collaborative cross-country policies to effectively mitigate them.