Artificial Intelligence (AI) is taking the world by storm, and the U.K government wants to ensure that the sector is protected from falling into the wrong hands.
The government has earmarked £100 million ($124.8 million) for the creation of a Foundation Model Taskforce to regulate the use of AI within its borders. Members of the new unit will largely be drawn from the academia, with the task force modeled on the winnings of the United Kingdom’s COVID-19 Vaccine Taskforce.
Over the coming months, it appears that the government will be investing another £900 million “to ensure sovereign capabilities” of AI use that will make the U.K. a technology superpower by 2030. The new task force will report directly to Prime Minister Rishi Sunak and Technology Secretary Michelle Donelan, with both individuals hailing the transformative power of AI.
“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 U.K. economy,” said Sunak.
The injection of funds into the task force will be deployed to purchase an “exascale supercomputer” and additional resources to achieve the computing power necessary to be at the forefront of AI innovation. According to the AI Regulation White Paper released in March, the task force will discharge its duties with safety and reliability as the foundation principles for offerings in the industry.
Pending the official announcement of the expert chair of the task force, the Head of the Advanced Research and Innovation Agency, Matt Clifford, will steer the affairs and liaise with both the Prime Minister and Technology Secretary. Armed with fresh funding, the task force is expected to launch the first wave of AI pilots for public services within six months.
The U.K. will be keen on deploying AI in healthcare and education, areas it says “could triple national productivity growth rates.” The proper application of AI is expected to add up to 7% to the GDP within the decade, with the government bracing itself for rapid adoption rates.
While the rest of the world grapples with the prospects of AI taking over, the digital asset ecosystem appears to be the hardest hit. State regulators in Texas, Alabama, and Montana have warned investors to keep their guard over the rise of digital currency projects using AI to scam users.
“Artificial intelligence may be an exciting concept, but scammers are attempting to capitalize on the excitement by developing high-tech ploys to deceive investors,” said Troy Downing, Montana state auditor.
Blockchain technology developers have expressed concern that OpenAI’s ChatGPT-4 poses a threat to jobs, given its ability to scour for smart contract vulnerabilities in recent tests.
Watch: Blockchain can bring accountability to AI
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