The UK government has released plans for regulating AI technology, aiming to accelerate the growth of AI while also mitigating potential risks to society.
These regulations will cover all applications of AI, including language and image-generating models like Chat-GPT and Midjourney AI.
These algorithms’ capabilities have inspired both awe and anxiety, as they can pass exams, write poetry, generate fake images, and spread misinformation.
Science, Innovation and Technology Secretary Michelle Donelan acknowledges the risks and emphasizes the need for a proportionate regulatory approach to help the UK seize the opportunities offered by AI.
During a tour of UK AI company DeepMind, now owned by Google, Ms Donelan highlighted the landmark moment in biology last year when AlphaFold AI solved the structure of almost every known protein.
This breakthrough could accelerate drug development and revolutionize healthcare.
The government believes that AI has the potential to boost business productivity, improve access to learning and public services, and contribute significantly to the UK economy, which it claims was worth £3.7bn last year.
By providing AI companies with a regulatory environment with less red tape than other economies, the UK government aims to attract and retain investment in the sector.
Overall, the UK government’s plans for regulating AI technology reflect a balance between seizing opportunities and managing risks.
By offering a regulatory environment with less red tape, the government hopes to attract investment and boost the economy while safeguarding society against potential harms.