The UK government is funding a £2m AI advisory scheme for British businesses.
As part of the scheme, businesses can expect tailored advice on how to integrate AI, as well as clear instructions on how to meet AI requirements and legislation.
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The pilot scheme, set to launch next year, has been announced as the UK prepares to host its first AI safety summit at Bletchley Park in November.
The UK’s Secretary of State for Science, Innovation and Technology, Michelle Donelan, said the scheme will help boost innovation in AI, whilst also supporting proper regulation to ensure AI’s responsible use.
“We are a nation that backs businesses both big and small,” Donelan stated, “and we want to make sure that they can quickly get to grips with rules and regulations around emerging technology.”
Research analyst GlobalData predicts that the global market for AI-driven horizontal business process applications is set to be worth $45bn by 2030, growing at a CAGR of 22% from 2022 to 2030.
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By GlobalDataLennard Kooy, CEO of Storyteq, voiced his support of the scheme.
As brands and businesses are “challenged to produce more content than ever before”, Kooy stated that it was great to see the UK government “playing a role” in actively bringing awareness to AI regulation compliance.
“Responsible AI must be central for both businesses and marketers,” Kooy said.
An August 2023 survey conducted by GlobalData found that over 50% of businesses questioned had already experienced significant disruption within their sector as a result of AI.
However, the same survey also found that a comparable number of businesses (49.4%) stated that they felt as though they only “partially understood” how AI works.
Direct support from the government can help businesses meet regulatory requirements, whilst also promoting innovation within AI.
The pilot scheme is set to last around a year and the government stated it will assess how UK businesses respond to the support.
