In a landmark move on Monday, the British government announced an initial funding of £100 million ($124.5 million) towards a taskforce dedicated to the development of foundation models for artificial intelligence in various fields such as healthcare and education.
Foundation models are a crucial component of AI-powered applications like chatbots, which rely on vast amounts of data to function effectively.
The move comes as part of the UK’s broader push to remain a leader in the AI industry and develop cutting-edge technologies that can provide significant benefits to the economy and society as a whole.
British Prime Minister, Rishi Sunak; “Harnessing the potential of AI provides enormous opportunities to grow our economy, create better-paid jobs, and build a better future through advances in healthcare and security.”
“By investing in emerging technologies through our new expert taskforce, we can continue to lead the way in developing safe and trustworthy AI as part of shaping a more innovative UK economy,” he added.
The taskforce will bring together leading experts in AI and machine learning to collaborate on developing foundation models that can be used across different sectors.
