LONDON: Prime Minister Rishi Sunak will urge tech executives on Monday to seize the potential and challenges presented by artificial intelligence in order for Britain to maintain its position as a global digital hub.

Sunak will say that "tectonic plates of technology are shifting" when introducing London Tech Week. 
Sunak will remark that "we must act - and act soon - if we want to not only maintain our position as one of the world's tech capitals... but to go even further, and make this the best country in the world to start, grow, and invest in tech businesses."

To ensure society benefits from the new technology, the UK will cooperate with AI companies. That is my intention. I also feel under pressure to make sure we take advantage of it.

Governments from all around the world are currently attempting to strike a balance so that they can evaluate and control some of the possible drawbacks of AI without limiting innovation.

Instead than establishing a new authority specifically for the technology, Britain decided to divide regulatory responsibilities for AI among the organisations that monitor human rights, health and safety, and competition in March.

Sunak will discuss how the government would cooperate with businesses to take advantage of opportunities given by transformational technologies, such as AI, whose supporters have compared to the emergence of the internet, and how the tech industry is at the centre of his priority to expand the economy.

Sunak announced that Britain would organise a worldwide summit on artificial intelligence safety later this year to evaluate the hazards of AI and discuss how they may be minimised via globally coordinated action. Sunak made the announcement during a visit to Washington last week.

"The opportunities are astounding. But we must do it safely, and we will, he will declare on Monday. "I want to make the UK the geographical and not just the intellectual home of international AI safety regulation."

US Layoffs: 3,900 Job Cuts in Tech Sector Due to AI

JOB CUT: Data management provider Cohesity lays off workforce