A taskforce to assist in the development of foundation models, a category of artificial intelligence utilized by chatbots like ChatGPT, for use in industries including healthcare and education, received a first 100 million pound ($124.5 million) in funding from Britain on Monday.

British Prime Minister Rishi Sunak stated that “harnessing the potential of AI provides enormous opportunities to grow our economy, create better-paying jobs, and build a better future through advances in healthcare and security.”

“We can continue to set the standard for developing safe and reliable AI as part of forming a more innovative UK economy by investing in emerging technologies through our new expert taskforce,” the statement reads.