Yahoo Finance Video
On this week's episode of Yahoo Finance Future Focus, our host Brian McGleenon sat down with Lord Chris Holmes, a prominent advocate for the ethical use of technology, regarding his proposed Artificial Intelligence Regulation Bill. Lord Holmes emphasised the urgent need for regulatory action to mitigate the significant risks posed by rapid advancements in AI. Despite forecasts predicting the UK AI market surpassing $1 trillion by 2035, Lord Holmes cautioned that without proper oversight, AI could lead to catastrophic consequences, even potentially threatening the existence of humankind. He highlighted the importance of fostering the development of "ethical AI" based on principles such as trust, transparency, and accountability. Lord Holmes stressed the need for public engagement and warned against the deployment of AI in the competing interests of nation-states, particularly on the battlefield.