Skip to content
Tuesday 8 September 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE · FR
MorningWire

European business, markets and politics

FTSE 100
10,822.13
-0.08%
DAX
26,006.53
-0.15%
CAC 40
8,306.15
0.00%
STOXX 50
6,403.99
+0.17%
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
More
GermanyFranceEU InstitutionsCompetitionPublic AffairsBankingTechnologyEnergy
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Regulation
  • Politics
  • Opinion
  • DE
Wednesday 21 June 2023 5:15 am  |  Updated:  Tuesday 20 June 2023 5:11 pm

We can’t base artificial intelligence laws off of the risks we only imagine to be real

By: James Boyd-Wallis

Add as a preferred source on Google
PM Rishi Sunak Speaks At London Tech Week
Prime Minister, Rishi Sunak speaks to the media during London Tech Week.(Photo by Ian Vogler – WPA Pool / Getty Images)

We’ve heard endless calls to ‘do something’ on artificial intelligence, but politicians are still basing their thinking on the risks they assume to be real, not the ones we know about, writes James Boyd-Wallis.

Last week, Rishi Sunak said he wants to balance safety and innovation to realise the potential of artificial intelligence. But to sell his vision, he must do more to bring MPs with him.

As we now know, AI holds incredible potential but significant risks. Rishi Sunak mentioned how it is helping people walk again, discover new drugs and detect cancer earlier.  For all these benefits, concerns remain.

The investment bank Goldman Sachs reported generative AI could replace 300 million jobs. Matt Clifford, who is helping the Prime Minister set up the AI taskforce, said the technology could “kill many humans” within two years.

Some 350 global AI experts have warned it could lead to the extinction of humanity.

As the doomsaying continues, the cries for “something to be done” intensify. Labour and SNP MPs have called for stronger regulation and a more interventionist approach.

Reflecting this concern, our new research shows that only 6 per cent of MPs believe existing regulators have the necessary skills or expertise to govern AI.

Conservative and Labour MPs share this lack of confidence, with just 7 per cent of Conservatives and 6 of Labour saying that existing regulators have the expertise needed. These findings call into question the AI whitepaper published in March, which recommended a sector-by-sector approach to governance, leaving it to individual regulators to decide what is best.

Our research also shows that only 14 per cent of MPs would prioritise growth and innovation over the safety of citizens and society. Just under a quarter (23 per cent) of MPs understand its implications.

Read more

Nscale doubles London office space as UK staff grows sixfold

2024 was a transformational year for GlobalData.

Rishi Sunak wants the UK to be home to a global AI safety watchdog akin to the International Atomic Energy Authority for nuclear fuel, among other measures. But he can’t do any of this if he can’t bring politicians on board.

It is a discussion worth having. The government’s approach sits between the EU’s more prescriptive and stricter AI Act and the US, which has been very light touch.

We need to work out what is safe and not and put guardrails in place for the latter. The goal should be sensible rules that allow flexibility between different industries and uses. For instance, retailers who want AI to help recommend the best outfit need not be regulated like a healthcare provider. Such a middle-ground could help maintain the UK’s position as a global AI leader, but only if the PM resists calls for greater regulation based on assumed risks.

If we are in a rush to regulate, we may jeopardise innovation and the benefits AI can bring. Governments do not create thoughtful policies in a climate of fear.  

So we need a broader discussion about how organisations use AI and the accompanying opportunities and challenges.  What does the use of AI facial recognition technology by the police mean for bias and privacy? How can AI help put patients at the centre of the NHS and improve outcomes?

And that debate must involve all stakeholders: MPs, AI firms – both big and small, civil society, academics and those impacted by AI. We must also ensure that regulators have the expertise they need and there are mechanisms to reassess the risks as AI develops.

Only through dialogue and debate can Rishi Sunak sell his vision, guard against knee-jerk policymaking and create a vibrant AI sector in the UK.

In doing so, we can ensure AI can help us better diagnose and treat diseases, enhance productivity and ultimately improve our lives.

Read more

Moody’s Brings Its Decision-Grade Intelligence to Gemini Enterprise for Financial Services

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • Opinion

Categories

  • Opinion

Trending Articles

  • Iceland boss Richard Walker vows to set up shop on Falkland Islands

  • Hedge fund billionaire Chris Rokos joins UK wealth exodus 

  • Britain ‘taxing itself to death,’ Burnham warned

  • £74m for branded condoms? UK must stop spaffing cash on foreign aid

  • As it happened: FTSE 100 inche up as oil holds gains; Healey says UK paying ‘Truss penalty’

More from Morning Wire

  • Nscale doubles London office space as UK staff grows sixfold

    AI
    2024 was a transformational year for GlobalData.
  • Moody’s Brings Its Decision-Grade Intelligence to Gemini Enterprise for Financial Services

    Business Wire
  • Aera Technology Named to Constellation ShortList™ for Decision Intelligence Platforms as the Category Reaches an Enterprise Inflection Point

    Business Wire
  • REPLY: A Face Only A Mother Could Love by Robert Gaudette Wins the Reply AI Film Festival 2026, the International Competition Exploring the Intersection of Cinema and Artificial Intelligence

    Business Wire
  • Cloudflare Introduces Adaptive Intelligence; Reverses the Economics of Automated Cyber Attacks

    Business Wire
  • IGI Announces the Launch of Cipher, A Specialty Treaty Reinsurance Platform Focused on Cyber

    Business Wire
  • Brightfin Appoints Preeti Shukla as Chief Product and AI Officer

    Business Wire
  • Everbridge and Arcadis Partner to Help Organizations Assess and Manage Climate Risk

    Business Wire
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • EU Institutions
  • Europe

Business

  • Markets
  • Business
  • Economy
  • Regulation
  • Competition
  • Public Affairs

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook