UK unveils £100M funding for agile AI regulation support
New Funding for AI Regulation in the UK
The UK government has allocated over £100 million towards advancing AI regulation. This investment includes £10 million for the training and upskilling of regulators to manage the risks and opportunities associated with AI across various sectors.
According to research from Thoughtworks, 91% of British people believe that government regulations should hold businesses accountable for their AI systems, and 82% of consumers prefer businesses that are transparent about their AI regulation practices.
Context-Based Approach to Regulation
The UK government has outlined a context-based approach to regulation to address AI risks in a targeted manner. This approach aims to empower existing regulators to manage AI-related risks effectively, without imposing rushed legislation that could hamper innovation.
The government is also considering potential binding requirements for developers of advanced AI systems to ensure safety and accountability.
Regulator Approaches and Responsibilities
All key regulators are expected to publish their approach to managing AI risks, demonstrating their expertise and plans for the coming year by April 30th. This initiative aims to provide businesses and citizens with confidence in regulatory transparency, addressing public skepticism about increased AI regulation.
Initiatives and Funding Allocations
Additionally, the UK government has announced nearly £90 million to launch nine new research hubs across the country, along with a partnership with the US focusing on responsible AI development. There is also a £2 million funding initiative for projects defining responsible AI in sectors such as policing.
Industry Response and Government Position
Industry experts have welcomed the UK government’s financial investment in supporting agile and sector-specific AI regulation, emphasizing its position as pro-innovation for AI across multiple sectors.
Science Minister Michelle Donelan highlighted the UK’s innovative approach to AI regulation and its leadership in AI safety and development, emphasizing the country’s ability to manage risks and harness AI’s benefits safely.
Demands and Challenges in AI Governance
There is a growing demand for AI regulation in the UK, especially considering the adoption of generative AI by businesses. However, challenges such as AI governance and ethics are prevalent, indicating the need for comprehensive regulatory measures.
Advancing Safe and Responsible AI Innovation
The measures, totaling over £100 million, aim to position the UK as a pioneer in safe and responsible AI innovation while addressing public concerns. The funding also builds on existing commitments to evaluate emerging AI models.
Relevant Information and Events
For more insights into AI and big data from industry leaders, interested individuals can explore events like the AI & Big Data Expo, taking place in various locations. These events provide opportunities to learn about enterprise technology trends and developments.
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