Anneliese Dodds

In order to keep to time, I will not. Capital constraints, and relatedly, constraints in compute, are real. We must recognise that while unilateral measures to support sovereign AI are important, their scope is necessarily limited. We must again work with reliable partners that share our values, not least within the EU. Finally, we must be brave enough to open up the discussion on the fiscal framework for AI. We currently tax labour, the very thing that AI will—in some sectors and in specific ways—displace. We must examine now how we might use the public stake from our sovereign AI investments, or mechanisms such as a token tax or reform to capital gains, as the TUC has suggested, to build up the resources that may be needed. There is potential for significant disruption to the labour market, and we must be more ready for it. Research out today from King’s College London suggests that 69% of workers and 64% of employers are worried about the economic impact of AI-related job losses. A majority of all groups surveyed predicted that AI’s benefits will mainly go to wealthy investors or companies, not workers or society. A majority of all groups also backed Government intervention. If we are to secure the fastest adoption of AI in the G7, as is the Government’s intention, we must deal with those issues too. Our young people will not forgive us if we fail to engage with this generational challenge.