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UK government partners with tech and business chiefs to launch AI Opportunity Forum to help drive up UK productivity through AI
Published: 25 Jan 2024 12:30
Companies such as Google, Microsoft, Barclays, and Vodafone are coming together with the UK government in the AI Opportunity Forum, to explore potential AI benefits for businesses. This initiative is headed by technology secretary Michelle Donelan and Franck Petitgas, the Prime Minister’s special advisor on business and investment. The aim is to promote AI adoption and assess the growth AI technology could deliver across the UK economy.
Google’s UK economic impact report predicts that AI innovation could generate more than £400bn in economic value for the UK economy by 2030. Unfortunately, the Department for Science, Innovation and Technology (DSIT) reports that just one in 10 businesses are currently fully prepared when it comes to AI technology.
The forum aims to focus on UK businesses’ culture and skills and address governance, awareness, the risks of AI, and data availability – as AI systems require high-quality, unbiased training data.
The Prime Minister, Rishi Sunak, believes the UK is on the verge of a productivity revolution, one that could significantly grow the economy, stating “it’s important we get it right.”
In addition to Google, Microsoft, Barclays, and Vodafone, the DSIT announced a further 13 forum members, including GSK, Arm, Tesco, and Universal Music Group. These companies are bullish on AI’s capabilities and are seeking new ways to leverage the technology for competitive advantages.
For example, GSK is using AI to enhance drug discovery. The company believes AI allows for in-depth processing of biological and clinical data to uncover complex patterns and trends that guide drug discovery and development – from early stage research through to clinical trials.