Britain sets up $125 million taskforce to drive AI

LONDON (Reuters) – Britain on Monday announced 100 million pounds ($124.5 million) in initial funding for a taskforce to help develop foundation models – a type of artificial intelligence used by chatbots like ChatGPT – for use in fields like healthcare and education.

“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,” British Prime Minister Rishi Sunak said.

“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.”

($1 = 0.8035 pounds)

(Reporting by Kylie MacLellan, writing by Sachin Ravikumar, Editing by Paul Sandle)