A couple of hours ago, Robert Peston released his podcast interview with the UK's AI minister Kanishka Narayan about today's launch of the UK Govt's first ever Sovereign AI fund 🤖
Here's a TL;DR news summary of what he said:
📌 The Sovereign AI website is an attempt at changing the "narrative" that the UK right now is "nowhere in AI" & only "focused on catching up and adoption, rather than being in the frontier".
📌 With AI, Govt UK wants to prevent a familiar story whereby entrepreneurs start great companies & then leave the UK when they think about scaling.
📌 It's not just about providing cash - it's also about visa support, procurement data + adapting public policy to help "anchor" more companies in the UK.
📌 Mr Narayan thinks income tax will become obsolete in 5-6 years, but the govt won't tax human labour, but it will "tax compute".
📌 UK govt sees the future of AI as "the single most important question for our economy right now" in terms of capital investment, jobs for the future, national security, drone defence systems & clean energy goals.
📌 UK doesn't have the capacity to take small companies global or "high risk early stage backers" of the scale seen in Silicon Valley. Govt capital needs to be provided earlier, in Round 2 or Series A of the seed funding process
📌 "I want this to sound and feel like a venture firm, which is the top tier firm." The fund will not be looking at primarily commercial applications of AI.
📌 He doesn't believe AI & robots will replace all people's jobs, even with the advancement of AI. Because people want to consume things, he feels that "wages of the things being consumed still in demand" will still go up, leading to jobs in those areas
📌He said the UK govt is "very rare" amongst global governments, in the fact it has access to AI models before they are deployed, to "test them for a series of risks", including the loss of control, where robots can run off and do things without human understanding or engagement
📌The fund is meant to make sure that AI models are "very much aligned with what we're trying to do as humans and as a society"
📌 The fund is partnering with the NHS, Accenture and Cognizant, large firms where the idea is to work together to design training to "quickly move the pace" of AI adoption in their firms
📌 He plans to launch technical excellence colleges focusing on digital tch and AI, because kids are already using AI, so a proper curriculum is needed
📌 However Mr Narayan doesn't believe in vibe coding, he feels it's still "really important" for software engineers to "understand fundamental architecture" so they can manage and oversee the coding agent
📌He's also soon to launch a campaign regarding chip design
📌 Money will be put into local authorities to accelerate planning for new data centres
Listen here: https://open.spotify.com/episode/5TpPYlVr9dh1JfPqAnhYYE
#AI #sovereignAI #UKlaw #techpolicy #technews #technology