Government provides funding to help innovators navigate regs

The UK government has launched the AI and Digital Hub, a pilot scheme that provides AI and digital innovators with access to informal regulatory advice from major regulators like the CMA, FCA, ICO, and Ofcom through the Digital Regulation Cooperation Forum (DRCF). Backed by £2 million in funding, the initiative aims to:

– Help innovators navigate regulations and comply with different regimes
– Allow regulators to gain insights from innovators to refine their approaches
– Streamline the process of harnessing AI’s potential
– Offer a clear path for innovators seeking clarity on cross-regulator challenges

Key features:

– 12-month pilot program
– Informal regulatory advice from DRCF regulators
– Opportunity for innovators to provide feedback to regulators
– Potential to inform future regulatory guidance

The government believes the hub will support businesses in navigating regulations, enabling them to focus on developing new products while strengthening the UK’s overall regulatory approach to AI models.

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