Artificial Intelligence: Regulation

Lord Ranger of Northwood Excerpts

Monday 10th February 2025 Lords Chamber

[The Earl of Clancarty (CB)]

My Lords—

[Lord Ranger of Northwood (Con)]

My Lords—

[Captain of the King’s Bodyguard of the Yeomen of the Guard and Deputy Chief Whip (Baroness Wheeler) (Lab)]

It is the turn of the Cross Benches.

[Lord Vallance of Balham (Lab)]

We are clearly in the middle of a consultation. It is due to read out on 25 February. We are accumulating evidence both on how this would work and on the technologies necessary to make it work. It would be inappropriate to jump to a conclusion before we hear all that.

[Lord Ranger of Northwood (Con)]

My Lords, I refer your Lordships to my interests as declared in the register and as vice-chair of the APPG on AI. I have a simple question about the AI Opportunities Action Plan. I have been speaking to many AI SMEs in the UK—UK businesses that are booming and growing—and they feel that the conversation about regulation and safety drowns out their success stories. What activities are the Government pursuing to hear from those SMEs and how can the Government help them? Those businesses are so successful that they are being drawn into other markets, such as the US, via investment and taken away from the growth opportunities in the UK.