Britain To Invest $125 Million In AI Research And Regulation (Image: Pixabay)
The United States and China are known for their significant contributions to the field of artificial intelligence (AI). Britain is all set to enter the AI race, as they have announced plans to spend over 100 million pounds ($125 million) on research and training to AI technology.
“AI is moving fast, but we have shown that humans can move just as fast,” said Michelle Donelan, Secretary of State for Science, Innovation and Technology, in a statement. “By taking an agile, sector-specific approach, we have begun to grip the risks immediately, which in turn is paving the way for the UK to become one of the first countries in the world to reap the benefits of AI safely,” added Michelle Donelan.
Britain announced that the heavy investment is to support regulators and advance research and innovation on AI, including hubs in healthcare and chemical discovery. As per the plans, 10 million pounds is to prepare and upskill regulators to address the risks and harness the opportunities of AI. The government says that this fund will help regulators develop cutting-edge research and practical tools to observe and address risks and opportunities. Notably, Britain has also asked key regulators to publish plans by the end of April 2024 for how they are responding to the risks and opportunities of AI.
Meanwhile, 90 million pounds will be allocated for launching nine new research hubs across Britain and a partnership with the United States on responsible AI. These research hubs are expected to support British AI expertise in harnessing the technology across various areas, including mathematics, healthcare, and chemistry.
Michelle Donelan also said that the UK’s innovative approach to AI regulation has made the country a world leader in both AI safety and AI development. In November 2023, Britain hosted a major artificial intelligence (AI) summit. Establishing global coordination and standards around AI safety was the major focus of the summit. Delegates from 27 governments and tech leaders participated in the meeting.
