Subj : AI governance a priority for UK business leaders in run-up to ele
To   : All
From : TechnologyDaily
Date : Thu Jun 20 2024 11:30:05

AI governance a priority for UK business leaders in run-up to elections

Date:
Thu, 20 Jun 2024 10:22:02 +0000

Description:
European businesses recognize the importance of the EU AI Act, but UK 
businesses are struggling to keep up.

FULL STORY
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With the UK preparing for its next general election, the emphasis has been on 
artificial intelligences role in bolstering the nations economy. 

According to AI safety and governance leader Saidot, nearly half (47%) of UK 
business leaders have identified implementing the right governance frameworks 
as their main priority for the year ahead, which stands notably higher than 
the EU average of 39%. 

The study also noted the precarious post-Brexit nature of Britain, 
highlighting that despite no longer sharing regulations, businesses wanting 
to develop or deploy AI systems for EU markets must continue to comply with 
the overseas regulations. UK businesses are focusing on AI governance 

The research found that two-thirds (67%) of UK business leaders recognize the 
relevance of the EU AI Act on their activities, however many remain unclear 
about how to navigate the requirements while also complying with local rules. 

Two in five also noted that its hard to keep up with AI capabilities, and 
with attention split between the technologys potential and the imposed 
restrictions, its clear that businesses arent able to realize the full 
potential of AI. 

Alarmingly, a quarter (26%) of businesses claimed not to have the right 
skills or expertise to ensure regulatory compliance. 

On the whole, the relatively small study of 500 European business leaders 
from the UK, France, Germany and the Netherlands found that most (82%) 
business leaders acknowledge the importance of AI governance and ethics, but 
the UK stood out for its lack of preparedness. 

Speaking about the influence of the EU AI Act, Saidot CCO and Partner Veera 
Siivonen commented: It not only sets a precedent for how AI is governed 
within the EU, but it has the potential to also serve as a model for other 
regions globally. 

Siivonen concluded: For businesses to succeed in future, they will need to 
implement responsible governance processes while keeping up with the latest 
AI advances. More from TechRadar Pro These are the best AI writers and best 
AI tools Find the right skills and talent with the best recruitment platforms 
AI governance is now an even bigger problem, as most governance tools are 
limping along



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Link to news story:
https://www.techradar.com/pro/ai-governance-a-priority-for-uk-business-leaders
-in-run-up-to-elections


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