The United Kingdom's government is planning to invest $125 million into artificial intelligence research and regulation.
The plans, which were announced on Tuesday, would have the government launch nine new AI research hubs across the region, support research projects examining the responsible use of AI in education, policing, and creative industries, and train regulators on how to manage the risks and benefits of the technology.
Investment in Artificial Intelligence
The United Kingdom's government is planning to invest $125 million in artificial intelligence research and regulation to reduce risks and maximize the technology's benefits.
In a statement, Secretary of State for Science, Innovation, and Technology Michelle Donelan said that AI has the potential to "transform our public services and the economy for the better." She added that the technology can help scientists produce treatments for diseases such as cancer and dementia.
Donelan said that the technology is moving fast but it has been shown that humans can move just as quickly. The official noted that they have begun to grasp the risks of the technology, which she argued paves the way for the UK to become one of the first countries in the world to reap the benefits of AI relatively safely, as per Aljazeera.
The announcement of the planned investment comes after the region in November launched the world's first institute dedicated to AI safety. Authorities also hosted a global summit on the topic, at which more than 25 nations signed the so-called Bletchley Declaration.
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The declaration acknowledges the technology's risks of "serious, even catastrophic, harm." British Prime Minister Rishi Sunal has been trying to position his country as a leader in AI regulation. He argued that only governments can properly assess the risks of the technology and possess the "power and legitimacy to keep their people safe."
Following the UK government's announcement, executives at leading players in AI, including Microsoft, Google, and Amazon, welcomed the planned investment. Google DeepMind's Chief Operating Officer Lila Ibrahim said that the hub and spoke model will help the UK benefit from the domain expertise of regulators.
Reducing Potential Risks of the Technology
Roughly $113 million of the investment will go towards the hubs, which will focus on using AI technology in areas such as healthcare, chemistry, and mathematics. It would also be used for a partnership with the United States on responsible AI, according to Reuters.
The remaining $12 million will be used to help regulators address the risks and harness the opportunities of the controversial technology. This would include developing practical tools to monitor risks in various sectors, including telecoms, healthcare, finance, and education.
The 90:10 percent funding split highlights where the UK government wants most of the action to happen. The $113 million funding for AI hubs covers five years starting from Feb. 1, 2024.
A spokesperson said that the funding has already been awarded with investments in the nine hubs that range from $9 million to $12 million. Another key note is that the British government is not planning to introduce any new legislation regarding artificial intelligence.
The Department of Science, Innovation, and Technology (DSIT) said that the government is not rushing to legislate or risk implementing "quick-fix" rules that would just quickly become outdated or ineffective, said TechCrunch.
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