Ten nations and the European Union have formed a network to establish an AI Safety Institute, led by the UK.

The collaboration involves the signing of the 'Seoul Statement of Intent toward International Cooperation on AI Safety Science'.

The initiative aims to promote global research and understanding of AI safety.

Chinese tech firms participated, but China did not join the agreement.

World leaders and key figures from major tech companies stressed the importance of international cooperation in AI safety during a virtual meeting.

Sixteen major AI firms, including Amazon, Google, and Microsoft, committed to safety procedures and frameworks for measuring AI risks.

The global effort highlights the necessity of ensuring AI innovation with a focus on safety, security, and trust.