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Home > News > Industry News > CBI call for government action.....

CBI call for government action on AI, IoT and blockchain

  • Author:Ella Cai
  • Release on:2017-10-23
The CBI is calling on the government to form a joint commission early next year made up business and employee representatives, a government minister and academics to recommend how AI, Blockchain and IoT can best be exploited by industry.

The CBI is calling on the government to form a joint commission early next year made up business and employee representatives, a government minister and academics to recommend how AI, Blockchain and IoT can best be exploited by industry.

“Artificial Intelligence solves problems. Blockchain changes how businesses exchange value. The Internet of Things unlocks big data,” says CBI deputy DG Josh Hardie, “companies of all sizes, in any sector and across the UK have a golden opportunity to benefit and lift their productivity.”

The CBI’s call follows a report called Disrupting the Future, commissioned by Vodafone, which concludes that:

• Only a third of businesses say their company has the skills and capabilities needed to adopt AI technologies
• Blockchain can be used across sectors and will require regulator co-ordination to set clear standards
• The main concern for businesses looking to adopt the Internet of Things is the security and privacy of devices.

The new commission will be charged with examining the impact of Artificial Intelligence on people and jobs, setting out plans for action that will raise productivity, spread prosperity and open up new paths to economic growth.

“In our manifesto, we committed to establishing a data use and ethics body which would work with industry to answer some of the vital questions on the impact of big data and Artificial Intelligence, and so create the right conditions for digital businesses to thrive,” says digital minister Matt Hancock (pictured).

The CBI sets out further proposals on how the Government can help create the right environment for growing businesses to thrive and take advantage of the opportunities afforded by new technologies. These include:g

• The General Data Protection Regulation sets a clear framework for safeguarding the data generated by IoT devices. The priority for government should be passing the UK Data Protection Bill so companies have adequate time to prepare for the new rules.
• Blockchain technology spans different sectors and will require regulatory co-ordination at both a domestic and international level to avoid fragmentation and encourage industry collaboration.

Regulators should work closely with the different industry consortia and the Financial Conduct Authority (FCA) to share best practice and learnings.

“Gene editing, space tourism, self-driving vehicles, robotic limbs, floating farms, London to Sydney in four hours – innovations like these will shape the course of the next decade,” reckons the CBI’s Hardie.