UK must balance innovation with safety to help firms adopt AI, tech bosses say
The UK must not let safety concerns about the use of artificial intelligence (AI) fall by the wayside as it pushes for a pro-innovation model for regulating the technology, tech bosses have warned.
Chancellor Jeremy Hunt has reportedly told ministers to speed up the adoption of AI across the private and public sector, including the NHS, to help improve productivity, the Financial Times reported.
But tech bosses have warned that providing clear guidance on the risks that AI presents and how to use it safely will be crucial in helping firms adopt the nascent technology.
Chris Downie, co-founder & boss of fraud detection platform Pasabi, told City PM the government “needs to help industry strike the balance between productivity and safety”.
“There isn’t a moment to lose,” he added.
The UK is embracing a regulatory framework which prioritises innovation, which Google’s UK and Ireland chief, Debbie Weinstein, has labelled the “best in class,” according to a report in The Times.
However, a pro-innovation regulatory framework cannot work unless it is “rooted in trust and ethics”, Salesforce UK and Ireland boss Zahra Bahrololoumi told City PM
“The principles of trust and responsibility must be our guardrails as we bring more of this exciting technology to market,” she said, adding that there is still more work to be done to “empower the UK tech sector and British businesses to navigate the rapid innovation that is being seen with generative AI.”
On Sunday, the Department for Science, Innovation and Technology announced that prominent tech investor and entrepreneur, Ian Hogarth, is to chair the government’s new Foundation Model Taskforce.
Hogarth and the taskforce, funded by £100m in government support, will focus on researching and developing AI safety and risks.
Clarity on how to use AI safely will be crucial for firms, Asam Malik, head of Mazars technology and digital practice.
“For firms that handle sensitive personal data and use AI to analyse this data, they need to ensure that they understand the risks AI poses, especially around cyber breaches, data theft and data privacy,” Malik said.
“The UK government has to balance pushing AI forwards, with sensible legislation in a way that supports innovation but mitigates unnecessary risks,” Malik added.
The Department for Science, Innovation and Technology was contacted for comment.