Join us in London on 26 November 2024 for our inaugural NextGen: AI event featuring Lord Chris Holmes, who will discuss the potential of AI and the benefits of legislation.
To harness the opportunities and mitigate the challenges presented by artificial intelligence, it’s crucial to legislate AI systems that are principles-based, outcomes-focused, input-transparent, and permissioned—ensuring they are funded and comprehensible. In pursuit of this goal, governing bodies worldwide are beginning to establish comprehensive regulatory frameworks for AI.
The recent enactment of the EU AI Act, the world’s first AI legislation, represents a significant step forward. Officially in effect since August, this act aims to ensure the accountability and auditability of AI systems concerning fairness, accuracy, and compliance with privacy regulations. As a result, interest in AI systems is surging, with a recent SAP Concur survey indicating that 51% of CFOs plan to invest in AI this year, a notable increase from just 15% in August 2023.
In the UK, Lord Chris Holmes of Richmond, MBE, has proposed the Artificial Intelligence (Regulation) Bill, which aims to establish the AI Authority, a new regulatory body focused on AI oversight in the country.
There are three key reasons for introducing such legislation: social, democratic, and economic. From the pioneering work at Bletchley Park in the 1940s to today’s advancements, the time has come for human-led, principles-based artificial intelligence that emphasizes transparency, innovation, interoperability, and an international perspective to ensure accountability for AI developers and promote democratic values.
Lord Holmes is a dedicated advocate for leveraging technology for the public good, particularly in promoting diversity and inclusion. His policy initiatives center on digital technologies, with a focus on fields like AI and blockchain, particularly their applications in fintech and trade.
Join us at Sancroft, St Paul’s, on 26 November, where Lord Holmes will deliver a keynote address at our inaugural NextGen: AI event, discussing our collective data, decision-making, and the future of AI.