As the UK prepares for its upcoming general election, there is a growing focus on the role of artificial intelligence (AI) in boosting the national economy. The study by Saidot, an AI security and governance leader, has shown that almost half of UK business leaders have identified implementing the right governance frameworks as their top priority for the coming year, which exceeds the EU average.
However, despite recognizing the importance of EU AI laws on their business, many UK businesses are struggling to understand how to comply with these regulations while also complying with local rules. With the rapid advancement of AI technology and the need to balance potential with limitations, it is difficult for businesses to fully take advantage of AI’s capabilities.
A significant number of businesses have admitted that they lack the necessary skills and expertise to ensure regulatory compliance, indicating a potential gap in preparedness. While most business leaders across Europe understand the importance of AI governance and ethics, there is a perception among UK businesses that they are not adequately prepared in this area compared to their European counterparts.
Saidot’s CCO and partner Veera Siivonen emphasizes the importance of implementing responsible governance processes while monitoring advances in artificial intelligence technology. She highlights that implementing responsible management practices is crucial for businesses looking to succeed in future. Staying informed about latest developments in AI technology will help businesses remain competitive in this fast-paced field.