Unveiling UK's AI Assurance Strategy with Investment Peaking at an All-Time High
The UK government has announced a series of measures aimed at bolstering the country's artificial intelligence (AI) sector. In a recent speech, Peter Kyle MP outlined new plans to expand the UK's AI offering and strengthen its sovereign AI capabilities.
At the heart of these plans is the establishment of a dedicated AI assurance profession, supported by a budget of £11 million. A new AI Assurance Innovation Fund worth £11m will be launched, and applications for this fund will open in the spring.
The AI assurance roadmap, unveiled alongside the announcement, focuses on ensuring independent expert oversight of AI systems. A professional code of ethics and access guidelines for AI assurance professionals will be developed, and a tailored skills and competencies framework will be created to support this new profession.
The UK government's efforts to support the AI industry are not limited to the creation of the AI assurance profession. The government aims to slash red tape, build infrastructure such as data centres, and attract top talent in AI. A total of £2.7m will be allocated to develop regulator capability in AI for streamlined regulations and faster commercialization of AI technologies.
British AI companies are already making significant contributions to the UK economy. According to recent figures, these companies contribute £11.8 billion, and the average deal size for AI companies in Britain was £5.9 million in the previous year. The number of AI companies in the Midlands, Yorkshire, Wales, and North West has more than doubled in the past three years.
The growth in the AI sector has also led to an increase in employment. AI employment in Britain now stands at over 86,000 jobs. Peter Kyle MP stated that this investment in Britain will result in sharing in the country's competitive edge.
The UK government's ambition in AI is high, and they are calling on the industry to match this ambition. In his speech to city bosses and tech firms, Peter Kyle MP called on the industry to work together to maintain the UK's position as a world leader in AI.
By investing in AI, the UK government hopes to not only boost the economy but also ensure that the UK remains at the forefront of AI innovation. The new AI assurance profession will help strengthen the quality of the AI industry, providing independent oversight and ensuring ethical practices are upheld. With these measures in place, the UK is well-positioned to continue its success in the AI sector.
