London Tech Week: AI, AI and more… AI

Photo credit: London Tech Week

Last week, London Tech Week 2024 opened its doors to over 45,000 of the world’s tech and innovation leaders from 146 countries, firmly establishing the capital as a global leader in tech innovation and collaboration.

Unsurprisingly AI once again dominated many of the keynotes and talks. If you didn’t manage to attend any of the events, here are some of the key takeaways that we thought were interesting:

London is leading the charge in AI innovation

London Tech Week 2024 kicked off with Mayor Sadiq Khan emphasising London's status as a global hub for AI and innovation. He highlighted the city's talented workforce, world-leading universities, and extensive connectivity, such as planned mobile coverage for 80% of the Tube by the end of the year. Khan also spoke about London’s openness to international collaboration fostering a thriving tech ecosystem: "London is a city that is diverse, dynamic, and daring—a place pulsing with energy, ideas, and imagination." 

New research by London & Partners also found that over 75% of AI business leaders view London as a top destination for AI development, highlighting the city's cutting-edge position in technology. In addition, 85% of leaders are confident in London's ability to attract AI talent.

Salesforce also announced a new AI centre as part of a $4 billion investment in the UK, reflecting the growing commercial opportunities in London. Nicola Hodson, IBM UK's CEO, also expressed excitement about witnessing "real-life AI in action" and the networking opportunities among global tech leaders, startups, and scale-ups at the event.

AI’s role in solving societal problems

At the event there was a lot of talk about the benefits of AI such as fighting fraud and advancing medical research. One highlight was a fireside chat on “The Digitisation of Everything” moderated by CNBC’s Ryan Browne. The panellists spoke about removing the need for passwords and introducing payment passkeys to enable users to make payments with just one thumb print on ANY device (including cars!)

But it isn’t just about exciting use cases for AI. There were also a lot of conversations on how to regulate AI and how to make sure we can make the technology inclusive to all - something that continues to be an ongoing debate for many.

One panel led by Alban Remy, Head of Enterprise Tech & Business Services at London & Partners on “AI for good”, explored the definition of good AI use, with the experts on the panel agreeing that AI should improve human lives and address societal challenges. Katherine Platts, Global Technology Innovation, Sustainability & AI Director at Unilever, also emphasised the importance of using AI ethically to solve societal issues in another panel session.

During another fireside chat on "Minimise the Risk, Maximise Value of Emerging Technology," David Butcher, Head of Fintech & Cyber at London & Partners, discussed London's role in regulating AI. On the same panel, Hans-Petter Dalen, EMEA Business Leader for AI for Business at IBM highlighted the UK's substantial investment in AI, noting the UK on how far it is ahead of Europe in this area. 

On another panel on “London: Europe's Hub for AI Innovation” Danielle Belgrave, Vice President of AI/ML at GSK agreed and spoke about how London sits at “at the crossroads of technology and AI.” 

Clearly there is an opportunity for businesses in London to not only lead the conversation but take the first step in suggesting what AI regulation should look like.

International Collaboration 

The other big topic from the conference was the focus on international collaboration. One panel on “Does Place Matter? Where To Found a Startup and How to Go Global” spoke about how London is one of the strongest markets in supporting founders and for its talent.

In the same panel, Yoram Wijngaarde, Founder & CEO of Dealroom.co said: “In the area there’s lots and lots of talent, you have Imperial College London, Oxford, Cambridge. London and the surrounding area present one of the largest tech ecosystems in the world.”

Minette Navarrete, President at Kickstart Ventures agreed, saying that investors in the UK had been the ones with “the best diligence and compliance” and “make the best introductions on behalf of companies.”

As well as these discussions about investment, there were also a number of sessions aimed at entrepreneurs providing them with top tips on how to navigate investment and product development. In a talk on “Growing Outside Of The UK – The How, When and Where”, Julie McKeen, Partner, Head of Global Media Practice at Odgers Berndtson spoke about how many founders in London are coming from across the world to create a “high-tech talent and diverse ecosystem.”

Did you attend this year’s event? What did you think? Any other key takeaways we missed?