Artificial Intelligence (AI) is the key to the future as its a wide-ranging branch of computer science concerned with building smart machines capable of performing tasks that typically require human intelligence. Now, the United Kingdom is all set to build worlds first AI safety institute, British Prime Minister Rishi Sunak said on Thursday before he hosts a gathering next week of representatives of AI companies, political leaders and experts.UK to set up worlds 1st AI safety institute: Rishi SunakAddressing the gathering in London, Rishi Sunak said, “The institute will advance the worlds knowledge of AI safety and it will carefully examine, evaluate and test new types of AI so that we understand what each new model is capable of, exploring all the risks from social harms like bias and misinformation through to the most extreme risks of all.”Taking it to X, he wrote, ...Our new AI Safety Institute will carefully examine new types of AI, so we understand what each model is capable of...You should have peace of mind that were developing the most advanced protections for AI of any country in the world.Our new AI Safety Institute will carefully examine new types of AI, so we understand what each model is capable of.Well do whats right to keep you safe. pic.twitter.com/t212YJjyaj— Rishi Sunak (@RishiSunak) October 26, 2023Watch UK PMs speech on AI here: LIVE: My speech on the risks and opportunities of AI https://t.co/LfOlJvISvO— Rishi Sunak (@RishiSunak) October 26, 2023About AI & its potential risksNotably, AI is a rapidly developing field, and new applications are being developed all the time. AI has the potential to revolutionize many aspects of our lives, from the way we work to the way we interact with the world around us.However, there are also some potential risks associated with AI, such as the potential for job displacement and the misuse of AI for harmful purposes. It is important to carefully consider the potential benefits and risks of AI as we develop and deploy this technology.