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UK-based RAi Awarded £12 Million in Fresh Funding to AI Projects

In this post:

  • RAi UK has provided £12 million in funding to AI projects, which is a University of Southampton-led initiative.
  • The funding is for the responsible development and deployment of AI.
  • The funded projects cover law enforcement, financial services, and the health and social sectors.

Artificial intelligence is advancing at a fast pace, and to address these developments, some of the breakthrough AI projects in the UK have been awarded £12 million. 

RAi funds AI projects

RAi UK (responsible AI UK), which is an initiative of the University of Southampton, has granted funding as a part of its program that will be executed over the next four years with a budget of £31 million.

RAi UK is responsible for connecting UK research with responsible AI to top institutions and research centers around the globe. The initiative is focused on leading best practices for how to design, develop, evaluate, and operate AI systems in ways that benefit society.

RAi is working on creating an ecosystem for strategic partnerships with academia and businesses by facilitating research and training programs for developers of AI, users, and customers. The institute is also involved in dialogue on public and policy engagement to discuss the arising concerns.

Three interdisciplinary projects have been set in place that will focus on tackling new emerging issues and concerns in all types of artificial intelligence, including generative AI, that have been built and put into practice.

The projects will cover a broad spectrum of society, including financial services, health and social care segments, and law enforcement.

CEO of RAi UK, Gopal Ramchurn, who is also a professor of artificial intelligence at the University of Southampton, said,

“They’ll deliver interdisciplinary research that looks to address the complex sociotechnical challenges that already exist or are emerging with the use of generative AI and other forms of AI deployed in the real world.”

Source: The Business Magazine.

Responsible deployment of AI spans beyond government

Ramchurn highlighted that the government and industry are not the only ones that have to deal with the concerns around AI. He said that it is important that AI experts and researchers engage with policymakers so that they can make sure that together they can handle issues that will arise with AI.

The total funding that RAi has provided until now since its launch in 2023 is £13 million. And to which is to support the under-process research work at major institutions like the Alan Turing Institute, AI Safety Institute, and BRAID UK, RAi is developing its in-house research program.

Research and Innovation (UKRI) is also backing RAi as part of the plans of the UK government to turn the country into a landing base for AI advancement.

UKRI’s technology fund SRO, Dr. Kedar Pandya, said that AI has the potential to have a positive impact on society and the economy, and this funding will be helpful for projects in the context of responsible use of technology.

Pandya said that the UK has a strong and responsible AI ecosystem, and they are looking to build partnerships with different organizations that are working to address shared challenges.

He also said that UKRI has a £1 billion portfolio of AI investments for research and innovation, and the recent RAi funding will complement their portfolio and help build public trust in artificial intelligence, which will help in leveraging the benefits of this evolving technology.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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