Today: Jun 23, 2024

Fintech bosses spar over AI talent shortage in Parliament showdown.

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Fintech Chiefs Debate AI Skills Crisis in Parliament

TLDR:

  • Fintech industry leaders issue urgent warning for government to increase regulation and investment in AI technology.
  • Over 90 industry experts, academics, and tech leaders attended the Parliamentary AI and Fintech Summit to discuss AI skills crisis in the UK.

Leaders from the technology industry gathered at the Parliamentary AI and Fintech Summit to address the pressing issue of the AI skills crisis in the UK. The event, hosted by Dean Russell MP for Watford, brought together over 90 industry experts, academics, and tech leaders to discuss the need for increased regulation and investment in artificial intelligence (AI) technology.

Simana Paul, Global VP of Engineering at SumUp, emphasized the importance of AI governance in the fintech industry, comparing the innovation in AI to the discovery of electricity in the 18th century. Dr. Adeshola, CEO of Tritek Consulting, highlighted the need for tackling the UK’s digital AI skills crisis to drive economic growth and create meaningful employment opportunities for the next generation.

Libero Raspa, UK Director at adesso, stressed the need for organizations to adopt AI responsibly, considering factors like data protection, IT security, infrastructure, and managing change. Fintech entrepreneur Khalid Talukder, Co-Founder of DKK Partners, underscored the importance of collaboration between the government and industry in areas such as AI to improve core business processes.

The debate at the summit emphasized the critical role of AI technology in shaping the future growth of not just the fintech industry, but the wider economy as a whole. By addressing the AI skills crisis and implementing effective governance, the UK can position itself as a leader in the development and utilization of AI technology.