Artificial Intelligence: Building Trust for London’s Next Big Industry, UK

Artificial intelligence could be London’s next big industry, but only if the city can build the necessary trust to develop the technology, according to Michael Mainelli. Despite AI’s growing presence in our daily lives, public opinion on the technology remains mixed. A survey by the Office for National Statistics found that over a third of adults do not believe AI can have a positive impact. However, the sector is already contributing £3.7bn to the UK economy, with 3,000 AI firms and 50,000 employees. To fully harness the potential of AI and ensure responsible and ethical development, Mainelli argues that trust is essential. The City of London could play a crucial role in this effort by setting and promoting standards through organizations such as the International Organization for Standardization (ISO) and the 695th Lord Mayor’s Ethical AI Initiative. These initiatives aim to provide certification programs and community standards for professionals working in the AI industry. By leveraging its talent and connections, London can lead the international development of AI standards and shape its trajectory for years to come.