The United Kingdom is intensifying its efforts to expand its technology industry. The announcement of funding for a new artificial intelligence (AI) task force was made by government officials.
According to an announcement on April 25, the U.K.’s prime minister and technology secretary will provide initial funding of 100 million British pounds ($124.8 million) to support a task force to accelerate the country’s artificial intelligence (AI) readiness.
According to Prime Minister Rishi Sunak, AI offers numerous opportunities for economic development and advances in healthcare and security.
“By investing in emerging technologies through our new expert taskforce, we can continue to lead the way in developing safe and trustworthy AI as part of shaping a more innovative UK economy.”
The objective of the task force is to “ensure sovereign capabilities,” which include public services, as well as to promote the widespread implementation of “safe and reliable foundation models.” This aligns with the United Kingdom’s goal of becoming a science and technology superpower by 2030.
According to the announcement, the first AI utilization and integration pilots will focus on public services and are anticipated to launch within the next six months.
Legislators in the United Kingdom have already planned a 900-pound ($1.1 billion) investment in computing technology.
Officials in the United Kingdom advocate for “safe AI,” which involves regulating the technology to “keep people safe” without stifling innovation.
The country’s secretary of science, innovation, and technology, Michelle Donelan, stated that if AI is “developed responsibly,” it can transform every industry.
“This will ensure that the public and business have the trust they need to confidently adopt this technology and fully realize its benefits.”
This development follows the U.K. Treasury’s recent decision to resurrect its Asset Management Taskforce with a renewed concentration on developing crypto regulation.
According to the report, Brian Armstrong, the CEO of Coinbase, will assist regulators with law and taxation between banks and the fintech industry.