The UK government has already invested £900 ($1.1 billion) in computing technology. The investment is part of the government’s commitment to becoming a science and technology superpower by 2030. The creation of the AI task force is aimed at ensuring the UK has sovereign capabilities, including public services, and fosters broad adoption of safe and reliable foundation models.



The UK prime minister, Rishi Sunak, has <a href="https://www.gov.uk/government/news/initial-100-million-for-expert-taskforce-to-help-uk-build-and-adopt-next-generation-of-safe-ai" rel="nofollow noopener" target="_blank">highlighted</a> the opportunities AI provides for economic growth and advancements in healthcare and security. In addition, the prime minister and technology secretary will be doling out 100 million British pounds ($124.8 million) in initial funding to support a task force that will accelerate the country’s AI readiness. He believes investing in emerging technologies through the new expert task force will enable the UK to lead the way in developing safe and trustworthy AI, thereby shaping a more innovative UK economy.



Officials in the<a href="https://www.cryptopolitan.com/uk-tax-separate-section-crypto-investments/?swcfpc=1"> UK</a> are also advocating for “safe AI,” which means regulating the technology to “keep people safe” without limiting innovation. Michelle Donelan, the country’s science, innovation, and technology secretary, has stated that if “developed responsibly,” AI can transform every industry. She also believes that fostering trust in AI is essential to encourage public and business confidence in the technology, enabling them to realize its full benefits.



<h2 id="uk-takes-steps-to-strengthen-ai-innovation">UK takes steps to strengthen AI innovation&nbsp;</h2>



The development of the AI task force comes shortly after the UK Treasury decided to resurrect its Asset Management Taskforce, focusing on developing <a href="https://www.cryptopolitan.com/uk-banks-turn-away-crypto-clients/?swcfpc=1">crypto regulation</a>. The news included that Brian Armstrong, the CEO of Coinbase, would help advise regulators on law and taxation between banks and the fintech industry.



The Country has already made progress in AI innovation, with the creation of the Alan Turing Institute and the Centre for Data Ethics and Innovation. The government has also implemented regulations for the ethical use of AI in public services, and a recent report from PwC highlighted the UK as having the second-highest AI adoption rate among G7 countries.



However, the UK is not the only country investing in AI technology. China and the US have also been prioritizing the development of AI in recent years, with China aiming to become the world leader in AI by 2030. To remain competitive, the UK will need to continue investing in AI technology and ensuring it is implemented safely and responsibly.

UK nearly $125M investment in AI: what Crypto investors need to know

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