The United Kingdom's Artificial Intelligence (AI) job market has been growing at a faster pace than that of the United States, as global economies increasingly integrate AI into their technologies. Furthermore, the UK government has announced a £100 million plan to expedite AI regulation.
According to a data analysis report by the Artificial Intelligence Policy Research and Management (AIPRM), between 2017 and 2022, the average early growth rate for the US was 1.2%, while the UK saw a slightly higher growth rate of 1.22% during the same period. The UK also outpaced economies such as India and Brazil. A significant portion of AI job listings in America came from California, accounting for 27% of total listings, followed by New York with a 13% share. AINews reports that rapid advancements in AI technology have opened new avenues for businesses to expand and operate more efficiently, leading to an increased demand for skilled AI professionals.
In response to these swift changes in the AI sector, the UK government has announced substantial investments to keep up with this rapidly evolving sector as new technologies emerge. A research report reveals that according to AINews, 91% of British citizens believe there should be greater accountability from their government in regulating AI systems. In addition, the UK government invested £90 million to establish nine new research hubs across the country and partnered with the US to focus on AI development.
Tom Whittaker, Senior Associate at independent UK law firm Burges Salmon, said: "The technology industry will welcome the large financial investment by the UK government to support regulators continuing what many see as an agile and sector-specific approach to AI regulation."
