TL;DR:
- UK Chancellor Jeremy Hunt believes the Western world must “win the AI race” and disagrees with Elon Musk’s views on AI.
- Hunt sees AI as a key to boosting UK productivity and dismisses concerns about its impact on jobs.
- The UK must strive to set the global standard for AI and be “super smart” in regulating it for good.
- Chancellor Hunt is determined to turn the UK into the world’s next Silicon Valley and has pledged billions for cutting-edge tech.
- The UK has impressive tech credentials, including being the third-largest tech economy and largest life sciences industry in Europe.
- The UK’s strategy for advanced semiconductors faces delay and internal conflicts, and Hunt advocates for a collaborative approach to secure critical technologies.
- Chancellor Hunt’s children still use TikTok, and he recently interacted with the AI chatbot ChatGPT, seeking to gauge his performance as Chancellor.
Main AI News:
Artificial Intelligence (AI) holds the key to unlocking greater productivity for the UK economy, and concerns about its impact on jobs are overstated, according to Chancellor Jeremy Hunt. Speaking at a recent POLITICO Tech UK event in London, Hunt dismissed recent warnings from Elon Musk about the dangers of AI and said the UK must be “full steam ahead” in developing and utilizing this technology.
Hunt acknowledged that AI has the potential to be used for malicious purposes but argued that opting out of the AI race is not an option, given the massive investments being made by other countries. Instead, the UK must strive to set the global standard for AI and be “super smart” in regulating it so that it is used for good and enhances society’s values.
The ChancellorChancellor brushed aside concerns about the impact of AI on middle-class jobs, citing the halving of unemployment since 2010 as evidence of the UK’s ability to embrace new technologies and drive economic growth. He emphasized that the UK is well known for its full-throttle approach to new technologies and will continue to do so with AI.
Chancellor Jeremy Hunt is determined to turn the UK into the world’s next Silicon Valley and has pledged billions to invest in cutting-edge technologies, including quantum computing and AI research. In an interview with POLITICO, Hunt emphasized his commitment to following through on these promises and showed no concern about competition from other European nations, such as France.
Hunt highlighted the UK’s impressive tech credentials, noting that it has become the third-largest tech economy in the world after the US and China and is the largest life sciences industry in Europe, as well as the second-largest clean energy industry and the largest film and TV industry. He acknowledged that while the UK has the ingredients for success, it has not yet fully realized its potential.
Chancellor Jeremy Hunt was recently questioned on the UK’s long-awaited strategy for advanced semiconductors, which has been delayed once again and faced internal conflicts within government departments. Both the US and the EU are investing heavily in subsidizing the production of these chips, used in everything from consumer electronics to military hardware, to better compete with China and secure their supply chains. Currently, Taiwan dominates the global market for advanced chips.
Hunt indicated that the UK is unlikely to announce its own subsidies to compete with the US and EU, instead advocating for a more collaborative approach to secure critical technologies. He warned against a return to protectionism, which would be a significant step backward for global growth, and emphasized the importance of having supply chains that leverage each country’s unique competitive advantages.
Chancellor Jeremy Hunt also shared his personal tech habits and revealed that his children are still using TikTok, despite his own concerns about the app’s geolocation features and the recent ban on its use by British ministers due to security concerns.
In a lighthearted moment, Hunt also mentioned his recent interaction with AI chatbot ChatGPT over the weekend, where he sought to gauge his performance as ChancellorChancellor. To his surprise, the chatbot replied with reference to his boss, stating that as a large language model, it does not have subjective opinions, but that Jeremy Hunt is not the ChancellorChancellor of the Exchequer, as that role is currently held by Rishi Sunak.
Conlcusion:
Chancellor Jeremy Hunt is confident in the UK’s ability to lead the way in the AI race, with the aim of boosting productivity and setting a global standard for the responsible use of AI. Despite concerns about its impact on jobs, the ChancellorChancellor is committed to investing in cutting-edge technologies, including AI and quantum computing.
The UK has a strong tech industry but faces challenges in securing critical technologies and will likely adopt a collaborative approach, rather than relying on subsidies, to achieve this goal. Chancellor Hunt is aware of the risks of AI and the need for smart regulation but remains optimistic about the UK’s future as a leading tech nation.
