Crypto Stocks Surge Amid Market Boom

Crypto stocks are on fire as Bitcoin hits all-time highs. One under-the-radar company is leading the charge, managing $2.1 billion in client assets and seeing record trading volumes. With crypto adoption skyrocketing, this could be a game-changing opportunity.

Britain's leader unveils AI strategy, including vow to rip up red tape hindering AI projects

OMAR FARUK
January 13, 2025

LONDON (AP) -- The British government pledged on Monday to rip up the red tape hindering construction of data centers that underpin artificial intelligence while promoting its "pro-innovation" approach to regulating the technology.

Prime Minister Keir Starmer hailed the potential of AI as he outlined wide-ranging plans to harness the technology, indicating that it will be a key part of his government's efforts to "turn around the economy" and jump-start lackluster growth.

Starmer said he wanted to Britain to become "one of the great AI superpowers" that can keep up with other countries like the United States and China that have led advances in the technology.

Under the 50-point plan, which provided few details on investment amounts, the government plans to massively expand public computing power, including by building a new national supercomputer and setting up AI "growth zones" with "streamlined" building approval process.

"So if you're looking at where to build your data centers, we will speed up planning permission if you need better access to power," Starmer said.

Britain's complex building permission rules are frequently blamed for preventing development of big projects such as data centers. After taking power in July, Starmer's Labour government vowed to review decisions by local authorities to reject some projects.

The government will also stick to its "pro-innovation" approach to regulating AI, which involves giving responsibility to existing industry regulators instead of drawing up a new set of rules like the European Union has done. It will also continue to support of U.K.'s AI Safety Institute, set up under Starmer's Conservative predecessor Rishi Sunak to carry out research on the most cutting-edge AI models and the existential but far-off risks they pose.

"We will test and understand AI before we regulate it to make sure that when we do it, it's proportionate and grounded in the science," Starmer said.

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