By 2030, GlobalData forecasts that the total AI market will be worth over $900bn. Credit: 3rdtimeluckystudio/shutterstock

The UK has announced it will publish new tests on AI that will determine how the technology is regulated. 

Failure from AI companies to recognise and publish potential risks that their technology poses will trigger tighter legislation, the UK government said. 

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The specific tests are set to be published in March as part of a wider whitepaper from the government on the regulation of AI in Britain.

AI leaders like OpenAI and Google’s DeepMind have already signed a set of voluntary AI safety agreements during the UK’s AI Safety Summit in November.

Paul Henninger, head of connected technology at professional services partnership KPMG, said that appropriate regulation is a lengthy process that takes time to strike a balance. 

“The only way to truly understand the risks of AI is at the coal face of transformation within business and government departments,” he stated, “therefore, close collaboration between businesses, services firms, and regulators is key to understand and mitigate AI risks.” 

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Henninger stated that he was hopeful the UK government’s new tests would spark pragmatic conversation on AI safety and usage between companies and regulators. 

The UK has public ambitions to become a global leader in AI safety and development, announcing today (12 January 2024) that two more research fellows have joined its Turing AI research fellowship that aims to attract and maintain UK AI talent. 

The fellows include Professor Alison Noble and Professor Michael Bronstein. Their appointment to the fellowship will last five years. 

Research analyst company GlobalData forecast that by 2030, the total global AI market will be worth over $900bn.