The UK government announced (16th March) that it will commit £3.5bn to the future of tech and science, with £1bn going towards the development of artificial intelligence (AI). Part of this investment will go towards an AI sandbox, serving as a one-stop shop to test how regulation will apply to the AI sector.
According to the government, the AI sandbox is being launched to support innovators on their journey to releasing cutting-edge products to market without being blocked by the usual regulations.
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Emma Wright, head of technology, data and digital at Harbottle & Lewis states: “The UK is one of the leading countries to develop AI and sandboxes continue to support start-ups and customers of this technology.
“The draft Data Protection and Digital Information Bill last week referred to increasing public and business confidence in AI technologies and this certainly seems to support this aim and should be welcomed.”
GlobalData’s thematic intelligence: TMT predictions 2023 report warns of an urgent need for AI transparency.
“As AI is increasingly involved in life-changing decisions, the inability to see and explain the decision-making processes of AI systems is eroding public confidence in this technology,” says the report.
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By GlobalDataThe government’s announcement also outlines £2.5bn into quantum strategy over the next decade to encourage fast-growing businesses and high-quality jobs to the UK.
“Quantum is the next frontier and investment to ensure we remain at the forefront of this technology is welcomed.
“Quantum holds tremendously exciting potential and we need to ensure we build the right ecosystem to support the UK continuing to be at the forefront of its development,” Emma tells Verdict.
The UK is determined to become the next Silicon Valley and investment like this is a step in the right direction.
“Starting with the foundations will be key, and businesses are going to need to look at new data architectures and new ways to boost their data capabilities.
This is the first step towards reaching ambitions of the UK becoming a science and technology superpower,” says Michael Green, vice president for Northern Europe at US enterprise software company Databricks.
GlobalData is the parent company of Verdict and its sister publications.
