UK Commits $125 Mn To Set Up AI Taskforce

The United Kingdom on Monday announced GBP 100 million (USD 125 million) for a taskforce which will be responsible for accelerating the capability in rapidly-emerging type of artificial intelligence. This investment will be an addition to GBP 900 million investment announced for compute technology in UK’s budget.

The Taskforce will be modelled on the success of the COVID-19 Vaccines Taskforce, will develop the safe and reliable use of this pivotal artificial intelligence (AI) across the economy and ensure the UK is globally competitive in this strategic technology.

UK Prime Minister Rishi Sunak said, “Harnessing the potential of AI provides enormous opportunities to grow our economy, create better-paid jobs, and build a better future through 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,” he added.

The AI taskforce will be led by an expert Chair, who will be announced later in the summer. Matt Clifford, Chair of the Advanced Research and Innovation Agency, will advise the Prime Minister and Technology Secretary on the development of the taskforce while the appointment is ongoing.

A UK study revealed that a total of 3,170 UK AI companies generated GBP 10,6 billion in AI related revenues, employed more than 50,000 people in AI related roles, generated GBP 3.7 billion in Gross Value Added and have secured GBP 18.8 billion in private investment since 2016.