The Labour Party is gearing up to leverage artificial intelligence (AI) to give the economy a significant lift by 0.5%. Peter Kyle, the shadow tech secretary, revealed the party’s strategy, emphasizing the need for transparency and public trust.
In a bid to spur growth, Labour intends to encourage the integration of AI technology within small businesses and government operations. Kyle highlighted the potential for AI to bolster productivity, projecting a £72 billion increase in fiscal headroom over the next five years.
However, Kyle acknowledged the concerns surrounding AI’s impact on employment. He criticized the government’s stance on AI, particularly its suggestion of using the technology to cut civil service jobs, citing public apprehension about AI’s consequences.
To allay fears and ensure a smooth integration of AI, Labour aims to establish trust by adopting a transparent approach. Kyle criticized the government’s lack of transparency regarding its use of algorithms for decision-making, stressing the importance of accountability in AI implementation.
Labour’s AI strategy emphasizes the necessity for the government to disclose its AI usage and require safety reports from companies developing advanced AI. Additionally, a regulatory innovation office would be established to keep pace with AI advancements and prevent regulatory hurdles from stifling innovation.
The party also aims to support the adoption of AI in small businesses and nurture promising startups in the UK. Kyle underlined the significance of responsible AI application and outlined Labour’s industrial strategy, which prioritizes key sectors over the next decade.
Recognizing the potential disruptions AI may bring to the workforce, Kyle emphasized the need for proactive measures to ensure a positive impact on the economy and employment. Labour pledges to collaborate with trade unions and employers to address these challenges.
Highlighting the disparity between AI adoption in the UK and the US, Kyle stressed the importance of transparency and public discourse in fostering AI awareness and acceptance.