August 14, 2022



UK, US launch AI tech challenges to sort out monetary crime

2 min read

A set of challenges for tech builders has been launched in a 3 manner partnership between the UK and US governments to boost cybersecurity, battle financial crime and take care of public properly being emergencies.

First introduced on the end of ultimate 12 months nevertheless launched on Wednesday, the bilateral innovation prize challenges are focused on advancing privateness and security experience.

First revealed on the Summit for Democracy, the challenges are part of a plan to beat the technical gaps and adoption of privacy-enhancing utilized sciences (PETs).

A cash prize pool of £1.3m has now been collectively funded by the British and American governments and is perhaps awarded to the simplest examples of AI fashions educated on delicate data.

“Privateness-enhancing applied sciences may help our democracies to harness the facility of information and AI to help our residents and companies – in a manner that reinforces our shared values,” acknowledged the UK digital secretary Nadine Dorries.

“The UK is striving to unlock the facility of information throughout the financial system. This prize problem will construct on the UK’s complete Nationwide Information Technique and assist to boost the profile of those applied sciences on each side of the Atlantic, laying the foundations for future collaboration.”

There is perhaps a group of challenges, with the first being centered in the direction of tackling financial crime, significantly worldwide money laundering.

Following that there is perhaps an issue concerning medical data, impressed by the problem nationwide properly being corporations had in responding to the pandemic.

“We’re on the cusp of fixing a few of the world’s most intractable issues and bettering our high quality of life with the facility of synthetic intelligence, however we should do it responsibly by upholding our shared values round privateness,” acknowledged the US secretary of commerce Gina Raimondo.

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“I’m thrilled that we’re launching these joint UK-US privateness enhancing know-how prize challenges and motivating our greatest researchers in business and academia to innovate on defending privateness in order that we will all reap the advantages.”

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