Artificial Intelligence
UK Budget: Tim Roberts, UK Country Co-Leader & Partner and Managing Director at AlixPartners, comments on the Autumn Budget 2024:
“Today’s Autumn Budget adds some detail to the government’s stated intentions to enable a thriving, innovative tech sector.”
“Recent legislation including the Digital Information and Smart Data Bill and Data Use and Access Bill demonstrate the government’s commitment to setting in place a strong regulatory framework for data and for Open Banking – even without specific EU-style AI regulation.”
“The government’s proposed Artificial Intelligence Opportunities Action Plan could be a key step in unlocking AI’s potential for growth and productivity, although the full details are yet to be finalised. The Action Plan will apparently consider how the UK can:
• Build a scaleable and competitive AI sector
• Adopt AI to enhance growth and productivity, and support Government delivery
• Use AI in government to ‘transform citizens’ experiences of interacting with the state’
• Strengthen the enablers of AI adoption, such as data, infrastructure, and regulatory reforms
“While it wasn’t mentioned in today’s Budget, this initiative is expected to be complemented by an AI bill to be introduced later this year, which is likely to focus on the most advanced models and make existing voluntary agreements between companies and the government legally binding. The bill, which may have its first reading by year’s end, is expected to zero in on foundation models like those underlying ChatGPT, and support the UK’s AI Safety Institute in shaping the gold standard for AI deployment. Developing AI responsibly has quickly become a global issue, and any legislation must avoid complex local rules that will eventually become obsolete as the technology progresses. Additionally, many companies are navigating a patchwork of AI regulations from region to region, and the UK’s bill should aim to minimise potential regulatory conflicts wherever possible.”