UK Government Holds AI Roundtable with Industry Experts to Boost SME Productivity
London, UK – On Monday, March 25th, 2024, Kelly Goss, Founder of Solvaa, attended an invite-only Artificial Intelligence (AI) Roundtable at 10 Downing Street with members of the UK Government. The Roundtable, aimed at helping small- to medium-sized enterprises (SMEs) adopt AI, saw experts and SMEs that have successfully adopted the technology advise the UK Government on current challenges and recommended solutions to enhance SMEs’ productivity.
The AI Roundtable was an exclusive opportunity for the UK Government to learn valuable insights on the AI landscape for SMEs from leaders in the country’s technology sector. The event, hosted by Kevin Hollinrake, Minister for Enterprise, Markets and Small Business, and Lord Franck Petitgas, welcomed 12 handpicked attendees to 10 Downing Street, who shared their experiences and recommendations for driving the adoption of AI among SMEs.
Solvaa, a leading expert in AI strategy and implementation, has since been invited to attend a UK Government workshop on the early-stage AI adoption journey for SMEs. The workshop, which will take place on May 3rd, aims to test the Government’s emerging thinking on AI adoption and explore the potential role Solvaa may play in supporting SMEs.
During the Roundtable, Kelly Goss emphasized the need for SMEs to have access to funding, educational platforms, and experts to effectively implement AI in their businesses. “We need to help SMEs increase productivity by enabling the use of digital tools,” says Kelly. “SMEs need guidance and support with not just AI, but AI combined with the adoption of digital tools,” she adds.
The UK Government’s focus on AI comes as The United Nations (UN) General Assembly passes a landmark global resolution on AI, and the European Union (EU) details its AI Act, the first comprehensive legal framework on AI.
The Roundtable was part of the Government’s efforts to address the challenges faced by SMEs in adopting AI. According to a report by Tech Hub, saving time is the main driver for businesses using the latest technologies, with tech-savvy leaders gaining up to 3.5 weeks back every year, simply by automating everyday tasks and processes. However, over 53% of SMEs fail in their technology adoption journeys, highlighting the need for leadership support to drive widespread access, implementation, and adoption of effective AI solutions.
Kelly Goss, who is passionate about helping businesses grow to their full potential, emphasized the need for government support for SMEs. “Digital adoption programs and funding for SMEs would certainly help clear the path for significant productivity changes,” says Kelly. She also stressed the importance of educational resources and expert help to help SMEs understand their options and properly implement AI.
The Roundtable was attended by other influential industry experts, including Anthony Impey, MBE of Be The Business, who Kelly has partnered with as a consultant for their Tech Adoption Labs. Emma Jones, CEO of Enterprise Nation, who Kelly is an advisor member for, was also in attendance. Phil Smith CBE, who heads up the Government’s Digital Adoption Taskforce, recently discussed rapidly advancing technology with Kelly at a conference in November 2023.
The key takeaway from the AI Roundtable was that the UK Government needs to help SMEs with funding, educational platforms, and access to diagnostic tools and experts. The attendees suggested a proposed match fund program to support SMEs in their adoption of AI.
According to the Be the Business G7 Productive Business Index, a mere 1% productivity improvement over a five-year period would add £94 billion to the UK economy. Furthermore, £400 billion could enter the UK economy due to businesses adopting AI.
The Roundtable follows the UK Government’s response to the AI Regulation White Paper consultation, which announced a £100 million investment to progress AI research and innovation and support regulators in understanding the technology’s capabilities, risks, and opportunities. The UK Government has asked key regulators to publish plans detailing how they will respond to AI risks and opportunities by the end of April 2024.
For more information on Solvaa, please contact Kelly@solvaa.co.uk.
