The UK government has revealed a new AI assurance roadmap, following a year that saw record private investment in British AI firms. According to new figures, £2.9 billion in private funding was secured last year, with average deals worth £5.9 million.
AI firms in the UK now contribute £11.8 billion to the economy, double the amount from 2023. Additionally, AI-related employment now exceeds 86,000 across the country. While AI startups are mostly in London, the number of AI companies in the Midlands, Yorkshire, Wales, and the North West has also at least doubled over the last three years.
In a speech at Mansion House, Technology Secretary Peter Kyle MP called on the industry to match the government’s ambition for AI: “We have learned the lesson of history: countries can only prosper if they get the big calls right, if they decide to go beyond the expected and embrace the future, to innovate not imitate – refusing to be constrained by the problems of today by taking up the challenges of tomorrow. In these uncertain times, I am certain that’s what it takes to get a global competitive edge. We want you to keep investing here, keep building here – list here, scale here. If you invest in Britain, you’ll share in that competitive edge.”
The new AI assurance roadmap is focused on ensuring independent experts can review AI systems to confirm they are trustworthy. The government plans to create a dedicated AI assurance profession, bringing together key stakeholders to improve the quality of this industry. This work will include developing a professional code of ethics and a skills framework, as well as a professional certification scheme.
To support this, a new £11 million AI Assurance Innovation Fund will be launched, with applications scheduled to open in the spring. An additional £2.7 million will be used to improve AI capabilities within regulatory bodies. This funding will support agencies like Ofgem, the Civil Aviation Authority, and the Office for Nuclear Regulation to use AI for tasks such as accelerating approvals for clean energy infrastructure, analysing air accident reports, and managing nuclear waste.
Image source: AI generated
