Bailey DeVries, director of the Office of Investment and Innovation at the Small Business Administration, said SBA is advancing efforts to provide funding support to small companies that are conducting research in the field of artificial intelligence as part of the agency’s “customer-centric” transformation initiative, Federal News Network reported Tuesday.
“There is a big buildout in the agency to have a more customer-centric view and more customer-centric support. That means connecting the dots broadly across programs,” DeVries said during a webinar.
“That requires a lot of funding, and that’s a different world than we’ve operated in the past – and one that will create many efficiencies if we’re able to invest in those improvements and enhancements for the agency,” she added.
DeVries stated that SBA’s efforts to advance funding in AI research builds on the current administration’s focus on ensuring trust and pursuing responsible development of AI tools.
She noted that SBA and the Small Business Digital Alliance introduced a public-private partnership linking tech companies like Microsoft, Google and Meta with small firms focused on adopting AI technologies.
“Some of these companies are going to be focused on very discrete issues, very discrete markets. Some are going to be looking at broader opportunities and applications,” DeVries said.
In March, SBA and the Department of Defense unveiled the Small Business Investment Company Critical Technologies Initiative, which seeks to bolster investments in AI and other emerging technologies.
Listen to public sector leaders and technology experts weigh in on the opportunities and risks associated with generative AI and related tools at ExecutiveBiz’s Trusted Artificial Intelligence and Autonomy Forum on Sept. 12. Register here.
