The US and China lead the world in AI innovation, but the UK punches above its weight.Here's how to do it

Eight years ago I moved to the UK from Denmark. Because the founders believed that London was the best city in Europe to start a technology company. I believe that is still true. We have a vibrant academic community, a strong pool of technical talent and investment capital, and a government that recognizes the transformative power of AI.

Now, more than ever, the UK has a real opportunity to become a world leader in the development and deployment of artificial intelligence. The National AI Strategy and his 1 Billion AI Sector Agreement show positive signs. However, if the UK government wants to remain competitive with the US and China, it needs to consider updating its industrial strategy to better support UK AI start-ups.

On 16 April, I had the pleasure of speaking before the UK Parliament's Business and Trade Committee on how we can use industrial policy to build on Britain's strengths and competitive advantage. Here are her three key steps I highlighted to the commission that could accelerate her AI industry in the UK.

Provides affordable access to computing power through GPU credits or cloud resources

Training cutting-edge AI models requires massive processing power in the form of high-performance GPUs. For example, it took an Nvidia A100 processor 3 million GPU hours to train his Metas Llama 2 model. Renting equivalent cloud computing capacity would currently cost around $15-20 million, not to mention additional storage and operational costs. This is an eye-watering sum that can be prohibitive for most startups, even companies like his Synthesia, which has achieved unicorn status.

The government could offer credits and grants for UK AI companies to access world-class cloud computing resources. However, it is important to note that this access should not go through new supercomputers or national data centers, as no one will use them. Instead, it should be made easier for any startup through existing cloud providers such as Microsoft, Google, and AWS. India, Saudi Arabia, or the United Arab Emirates have already adopted this approach, recognizing the value of access to hardware for AI ecosystems.

Open public datasets for research and development

Data is the fuel that powers large-scale AI models. The UK has a wealth of public data assets across sectors such as healthcare, transport and climate that can be released to help start-ups and researchers build powerful AI applications that serve the public interest.

Properly anonymised, these datasets represent a competitive advantage for the UK to leverage. For example, the UK NHS has recently seen waiting times for cancer patients reach their worst ever. There are several promising AI startups developing tools for cancer imaging and diagnosis, as well as computational modeling for drug discovery and predictive treatment. Access to anonymized medical data can significantly improve the accuracy of machine learning models, potentially leading to better resource allocation in hospitals and faster patient diagnosis and care. .

Mandating AI implementation across public services to create markets

If the UK government commits to deploying AI across areas such as healthcare delivery, education and smart city operations, it will create built-in markets and use cases for startups to build innovative solutions. This will encourage further investment and create a virtuous cycle of AI growth and social impact.

In the United States, President Biden ordered all federal agencies to appoint a chief AI officer to oversee the federal government's AI development and deployment. The UK government should go further by setting specific targets and metrics for the use of AI within departments, creating a lasting and consistent demand that will incentivize the private and public sectors to work together more effectively. may be possible.

To its credit, the UK government has previously provided a balanced and realistic approach to AI, including proposing regulations that focus on addressing real-world risks and fostering socially beneficial innovation. I am taking a similar approach. Rather than pre-emptively banning certain uses of AI or getting embroiled in pointless debates over existential risks, the UK's AI regulation proposals would include guardrails in areas such as transparency, human oversight and ethical considerations. and to develop best practices.

This cautious stance that embraces both innovation and responsible development is wise. We recognize that AI is too powerful an opportunity to waste with overly blatant restrictions. At the same time, active governance is needed to build trust and ensure that AI systems are aligned with existing laws and ethical values.

Every day, I have the opportunity to speak with business leaders around the world, from small business owners to Fortune 100 executives, who are thinking about implementing AI at scale in their organizations. Everyone agrees that AI will fundamentally transform every industry and sector of the economy, from healthcare and scientific research to transportation, manufacturing, and education. This will drive economic growth, create new jobs, and improve living standards in countries at the forefront of the global AI revolution.

By investing in affordable computing power, unlocking data assets and creating a robust market for AI services, the UK can position itself as a true AI superpower. Balanced regulation and ecosystem support will help UK AI start-ups and entrepreneurs consolidate the UK's position as a global leader in this innovative technology.

Victor Riparbelli is the CEO and co-founder of Synthesia.

More must-read commentary Published by Fortune: Union leaders: Larry Fink is right about the retirement crisis facing Americans, but he can't tell the truth about the failure of the 401(k) revolution Analyzing consumer sentiment data, we found that today, the recession is only beginning to be felt by men.Historically, women have had as bad of an economic situation as women, and 90% of homebuyers have never worked with a real estate agent or broker. I have chosen to work with a contractor. Here's why that's not likely to change, according to Intel CEO of the National Association of Realtors. Our goal is to have at least 50% of the world's advanced semiconductors produced in the United States and Europe by the end of 2020.

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