Posted 2/1/2024, 12:03:00 PM
UK Embraces AI Revolution, But Seeks Clarity on Risks and Copyright
- AI will not be a "mass destroyer of jobs" and humans will adapt to work alongside new technologies, says Bank of England governor Andrew Bailey
- Almost a third of UK businesses surveyed by the Bank have made significant AI investments in the past year
- Automation and AI investment is already "containing recruitment and labour costs" in a tight labour market, per the Bank's business contacts
- House of Lords committee chair warns the UK could "miss out on the AI goldrush" if talk of "existential risks" gets in the way of progress
- The Lords committee calls on the government to provide clarity on copyright rules as AI systems rely on feeding on existing digital information