• Home
  • About Us
    • Stockport
  • News
    • Expert Opinion
    • Business podcasts
    • Legal
    • General business
    • Marketing & PR
    • Commercial Property
    • Investment
    • IT & Comms
    • Retail
    • Travel & Logistics
    • Training and employment
  • Covid19 Information
    • Coronavirus Important Links
    • Stockport – Open for Business
  • Directory
    • Businesses by Sector
    • Quick Look
    • Our Gold Members
  • Property
    • Property Finder
    • Property News
  • Become A Member
  • Contact

Our partners

Marketing Stockport

Business in Stockport

  • All News
    • Commercial Property
    • Legal
    • Creative & Media
    • Marketing & PR
    • Events and Entertainment
    • Sport & Leisure
    • Charity
    • Property Maintenance
    • Investment
    • Hospitality
  • Stockport Business Directory
    • By Sector
  • Stockport
  • About us
  • Join us
  • Subscribe
Show Search
Hide Search
You are here: Home / News / Further funding will support regulation and advancement of AI

Further funding will support regulation and advancement of AI

February 7, 2024

Photo by DeepMind on Unsplash

Following the government’s AI Regulation White Paper consultation and the establishment of the AI Safety Institute, UK regulatory bodies are to receive additional funding to address challenges of artificial intelligence.

£10 million will fund work to prepare and upskill regulators to address the risks and harness the opportunities of this defining technology. The fund will help regulators develop cutting-edge research and practical tools to monitor and address risks and opportunities in their sectors, from telecoms and healthcare to finance and education.

Many regulators have already taken action, including data regulator the Information Commissioner’s Office (ICO) which has updated guidance on how data protection laws apply to AI systems. Key regulators, including Ofcom and the Competition and Markets Authority, have been asked to publish their approach to managing the technology by 30 April in order to offer transparency to businesses about how they can use this emerging technology appropriately.

Secretary of State for Science, Innovation, and Technology, Michelle Donelan said: 

“AI is moving fast, but we have shown that humans can move just as fast. By taking an agile, sector-specific approach, we have begun to grip the risks immediately, which in turn is paving the way for the UK to become one of the first countries in the world to reap the benefits of AI safely.“

An additional £90 million of funding has also been announced to support nine new research hubs to support support British AI expertise in harnessing the technology across areas including healthcare, chemistry, and mathematics.

The Arts and Humanities Research Council (AHRC) will also receive £2 million to support research into responsible use of AI in education, policing and the creative industries. A further £19 million will support projects to develop responsible AI and machine learning solutions.

Industry leaders have given their support for the UK’s agile approach to AI regulation.

Lila Ibrahim, Chief Operating Officer, Google DeepMind, commented:

“I welcome the UK government’s statement on the next steps for AI regulation, and the balance it strikes between supporting innovation and ensuring AI is used safely and responsibly.

“The hub and spoke model will help the UK benefit from the domain expertise of regulators, as well as provide clarity to the AI ecosystem – and I’m particularly supportive of the commitment to support regulators with further resources.

“AI represents an opportunity to drive progress for humanity, and we look forward to working with the government to ensure that the UK can continue to be a global leader in AI research and set the standard for good regulation.”

Hugh Milward, Vice-President, External Affairs Microsoft UK said:

“The decisions we take now will determine AI’s potential to grow our economy, revolutionise public services and tackle major societal challenges and we welcome the government’s response to the AI White Paper.

“Seizing this opportunity will require responsible and flexible regulation that supports the UK’s global leadership in the era of AI.”

Synergy Recruitment
Tweet
Share
Share

Related News

  • Traditionally built homes using innovationGovernment backed housing bank aims to support 500,000 new homes

    Read News

  • New Small Business Commissioner appointed to tackle late payments

    Read News

  • Acquisition for Stockport electrical wholesalerAcquisition for Stockport electrical wholesaler

    Read News

Advertisement

Cornerstone rates

Advertisement

Studio 91 Media

Advertisement

TiC Manchester

Popular Posts

Consultation on Stockport MDC expansion closes 26th JuneConsultation on Stockport MDC expansion closes 26th June
125 new homes planned for Woodford125 new homes planned for Woodford
Manchester named top city for FDI outside LondonManchester named top city for FDI outside London
Alice in Wonderland inspired therapy garden opens for patients at Stepping Hill HospitalAlice in Wonderland inspired therapy garden opens for patients at Stepping Hill Hospital
Stockport County Community Trust supports Men’s Mental Health WeekStockport County Community Trust supports Men’s Mental Health Week

Advertisement

Belle Vue Coaches

Get the latest Stockport business news daily

Commercial opportunities at Stockport Interchange

Video Player
https://youtu.be/b0Lm4pL5ppk?si=ok8I22SmFQZcUfch
00:00
00:00
00:49
Use Up/Down Arrow keys to increase or decrease volume.

Business News

  • New Small Business Commissioner appointed to tackle late payments
  • Greater Manchester hosts first UK hub for sustainability and tech global startup accelerator Manchester named top city for FDI outside London
  • Yellow Bee Network double decker bus at Stockport Interchange (Courtesy TfGM) TfGM launches Transport Professional Services Framework 2025
  • Stockport business named Good Employer of the Year at Greater Manchester Good Employment Awards

Get In Touch with Marketing Stockport

  • Call
    0161 870 2435
  • Email
    enquiries@marketingstockport.co.uk
  • Send a news story
    news@marketingstockport.co.uk

Contact us by post

Pepper House,
1 Pepper Road Hazel Grove,
Stockport, SK7 5DP

Subscribe to the Marketing Stockport Newsletter

Instilled Ltd

Marketing Stockport Ltd © · Registered in England and Wales: No.07806683
Privacy Policy · Site Map

Tweet
Share
Share
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkRead more