The UK Government is reportedly planning to spend more than £100M or roughly $125M cumulatively to improve its artificial intelligence regulation and research to manage both AI risks and benefits. Headlining the plans are nine new AI research hubs across the United Kingdom.
As per the official press release from the Department of Science, Innovation and Technology, the establishment of 9 new research hubs around the UK and a collaboration on ethical AI with the US will cost close to £90 million. The hubs will assist British AI knowledge in applying the technology to fields like mathematics, chemistry, and healthcare.
Additionally, 21 projects worth £19 million will be funded in order to create creative, reliable, and ethical AI and machine learning solutions. This will hasten the adoption of these technologies and increase productivity.
This will be implemented via the Innovate UK BridgeAI program, supported by the UKRI Technology Missions Fund, and funded through the Accelerating Trustworthy AI Phase 2 competition.
UK's AI Regulators
Additionally, reports suggest that instead of establishing a new, central regulator just for the burgeoning technology, the government has opted to employ the regulators that are already in place to oversee the use of artificial intelligence within their respective industries, as stated in the AI white paper that was first released last year.
An additional £10 million investment has been made to help regulators in a variety of industries, including banking, healthcare, education, and telecommunications, become more skilled and prepared to manage the risks associated with artificial intelligence and take advantage of its benefits.
This additional funding decision by the UK however, has yet to be finalized as per Tech Crunch. DSIT reportedly said the £10 million fund intended to increase regulators' AI capabilities has not yet been established, but the government is moving quickly to put the system in place.
The DSIT representative added that to accomplish their goals and make sure the government is getting value for the money paid by taxpayers, it is crucial that the government carry out the task of upskilling AI regulators correctly.
UK's AI Regulation Efforts
These newly announced plans reportedly sit alongside the £100 million the government funded in the world's first AI Safety Institute back in November. A move meant to assess the hazards associated with emerging AI models and the worldwide leadership demonstrated by Bletchley Park's hosting of the world's first significant summit on AI safety.
Big Tech Companies lauded the newest development, with Microsoft's Vice-President, External Affairs Hugh Milward welcoming the new development. Google DeepMind's CEO, Lila Ibrahim also praised UK's plans in that it supports a balance between encouraging innovation and making sure AI is used responsibly and securely.
Amazon's UK Country Manager John Boumphrey on the other hand, encouraged like-minded approaches on AI, describing it as "an innovation-friendly and internationally coordinated approach."
