On the 30th October the City of London Corporation hosted the AI for Innovation Dinner with the UK Department of Science, Innovation and Technology. The event showcased innovative examples of AI being used across the UK economy, ahead of the AI Safety Summit. Attending the event on behalf of the SFI ADAPT Centre, Executive Director Declan McKibben, joined senior representatives from the UK Government, along with international businesses, academia and civil society.
The power of AI is transformative. From raising productivity to fostering innovation, there is no sector, no industry, no business untouched by its influence.In a future where our economic prosperity is intertwined with AI, collaborative efforts in international regulatory coordination, talent development, skills, and widespread adoption are paramount.
This event marked the end of the UK Government’s pre-AI Safety Summit engagement and brought together around 400 representatives from across the AI ecosystem. The focus was to look at the positive benefits AI can have on world economies and how to work together on this topic across all sectors going forwards.
Guests heard from The Rt Hon Michelle Donelan MP, Secretary of State for Science, Innovation and Technology, and Chris Hayward, Policy Chairman, City of London Corporation.
The Policy Chairman used his speech to announce our latest report AI: Accelerating Innovation, How AI is Turbo Charging UK Financial and Professional Services, in collaboration with EY. The report underpins the financial services sector’s position at the vanguard of investing and adopting AI technologies to boost productivity, develop products, and improve customer experience.
AI has the power to unlock significant opportunities for businesses to become more efficient and competitive by driving innovation and growth across all aspects of society. The report urges, therefore, that the successful adoption of AI must be coupled with an adequate governance framework to address the risks of AI, in addition to having a strong skills base and a culture that is keen to maximise the benefits of this cutting edge technology. The event gave ADAPT a platform to highlight the expertise Ireland has in the area of AI governance and demonstrate the impact Irish research is having on the international landscape. A recent publication outlines some of the research taking place in ADAPT currently.