Ensuring trust in AI to unlock £6.5 billion over next decade
New research reveals that building trust in artificial intelligence (AI) could unlock £6.5 billion of potential economic benefits over the next decade.
A report by PwC, commissioned by the UK government, found that businesses and consumers are hesitant to adopt AI due to concerns about safety, security, and ethics.
However, the report also found that there is a significant opportunity for businesses that can overcome these barriers and build trust in their AI systems.
The government has pledged to invest £1 billion in AI research and development over the next five years, and it is also working on developing a new AI strategy.
The strategy will set out the government’s vision for the future of AI in the UK, and it will include measures to address concerns about trust and safety.
The government is also working with businesses and academia to develop new AI standards and regulations.
These standards and regulations will help to ensure that AI systems are safe, secure, and ethical.
The UK government is committed to ensuring that the UK is at the forefront of the AI revolution.
By building trust in AI, the government can help to unlock the full potential of this technology and create a more prosperous future for the UK.
Key findings of the report
- Businesses and consumers are hesitant to adopt AI due to concerns about safety, security, and ethics.
- There is a significant opportunity for businesses that can overcome these barriers and build trust in their AI systems.
- The UK government is committed to investing in AI research and development and developing a new AI strategy.
- The government is also working with businesses and academia to develop new AI standards and regulations.
Implications of the report
The report’s findings have implications for businesses, governments, and consumers.
- Businesses: Businesses need to be aware of the importance of trust when it comes to AI. They need to take steps to build trust in their AI systems, and they need to be transparent about how they use AI.
- Governments: Governments need to play a role in ensuring that AI is used in a safe and ethical way. They need to develop AI standards and regulations, and they need to work with businesses to build trust in AI.
- Consumers: Consumers need to be aware of the potential benefits and risks of AI. They need to be able to make informed decisions about whether or not to use AI, and they need to be able to trust that AI systems are being used in a responsible way.
Conclusion
The report’s findings show that there is a significant opportunity for businesses that can build trust in their AI systems.
The UK government is committed to investing in AI research and development and developing a new AI strategy.
The government is also working with businesses and academia to develop new AI standards and regulations.
By building trust in AI, the government can help to unlock the full potential of this technology and create a more prosperous future for the UK.
Ensuring trust in AI to unlock £6.5 billion over next decade
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