Chancellor John Healey has announced a package of investment in artificial intelligence ahead of the Budget on 28 October. Businesses can look to £30 million of local AI partnerships, a £25 million competition and a larger Sovereign AI Fund. There are no new obligations for businesses.
The United Kingdom is creating the AI Biosecurity Lab, which will use artificial intelligence to detect biological threats and develop vaccines faster. Up to £300 million is planned to start: £100 million from the government and up to £200 million in commitments from technology companies.
The UK's Financial Conduct Authority wants AI firms to warn clearly that financial advice from chatbots is not regulated. You usually won't get compensation for a chatbot's bad advice.
An employee of a British firm transferred about £20m to fraudsters after a video call with a fake finance director. The technology used is now cheaper and more accessible.
The Scottish Government has allocated £1.8m to the second year of a programme helping small and medium-sized businesses adopt artificial intelligence. Applications are due to open soon, so now is a good time to prepare.
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