New initiative offering AI regulatory guidance to businesses

A new online hub has been launched to provide AI developers with informal advice on developing and releasing AI models. The Government-funded AI and Digital Hub, backed by around £2 million in funding, will bring together guidance from four regulators on navigating the regulatory environment.

The Digital Regulation Co-operation Forum (DRCF), consisting of key regulators linked to AI – the Competition and Markets Authority (CMA), the Financial Conduct Authority (FCA), the Information Commissioner’s Office (ICO), and Ofcom, is behind the initiative.

The Department for Science, Innovation, and Technology (DSIT) stated that the hub aims to make it easier for businesses to responsibly bring their AI technology to market more quickly, ultimately contributing to economic growth.

The Government’s AI White Paper, published last year, outlines the decision to utilize existing regulators to monitor AI use within their sectors instead of creating a new central regulator. Ministers believe this approach is more agile in addressing the challenges posed by AI.

Technology Secretary Michelle Donelan emphasized the importance of the hub in refining the regulatory approach to AI. She highlighted the transformative impact of AI on various sectors, including healthcare and public services, and emphasized the need to harness its potential responsibly.

The hub pilot scheme is set to run for 12 months, with a decision on its long-term future expected in 2025. This initiative aims to facilitate collaboration between innovators and regulators to ensure the responsible development and deployment of AI technology in the UK.