UK's AI Assurance Market Set for Significant Growth and International…

Team S · 2024-11-06T14:03:45.000Z

The United Kingdom is poised for substantial growth in its AI assurance market, with projections indicating a six-fold increase over the next decade. This expansion is expected to unlock more than £6.5 billion by 2035, aligning with the government's strategy to leverage AI for economic growth and public service reform. Key points from the announcement: 1. The UK government is introducing new support measures for businesses to develop and use trustworthy AI products and services. 2. A new AI assurance platform will be launched, providing businesses with a centralized resource for identifying and mitigating AI-related risks and harms. 3. The AI assurance sector currently comprises 524 firms, employing over 12,000 people and generating more than £1 billion. 4. The UK AI Safety Institute (AISI) is expanding its international collaborations, including a new partnership with Singapore. 5. A self-assessment tool will be made available, particularly for SMEs, to implement responsible AI management practices. 6. The government is launching a public consultation to gather industry feedback on AI assurance initiatives. 7. The AISI has initiated a Systemic AI Safety Grants programme, offering up to £200,000 in funding for researchers across various sectors. 8. The UK is actively participating in the International Network of AI Safety Institutes, emphasizing global collaboration in AI safety. This initiative underscores the UK's commitment to fostering trust in AI systems while promoting innovation and economic growth in the rapidly evolving field of artificial intelligence. https://www.gov.uk/government/news/ensuring-trust-in-ai-to-unlock-65-billion-over-next-decade

Member Login Get Access

UK's AI Assurance Market Set for Significant Growth and International… | Newnex