13th August 2018

Experts say huge benefits to AI if risks mitigated

More than 200 leading business professionals gathered at Ashton Court early this morning for the annual Bristol International Balloon Fiesta Business Breakfast, sponsored and organised by Thrings for the fifth year in a row, in partnership with Bristol Energy and Business West.

More than 200 leading business professionals gathered at Ashton Court early this morning for the annual Bristol International Balloon Fiesta Business Breakfast, sponsored and organised by Thrings for the fifth year in a row, in partnership with Bristol Energy and Business West.

The hot topic for the 2018 event was artificial intelligence (AI), and specifically whether it should be considered a blessing or a curse for businesses and the economy.

Among the panellists singing AI’s praises were Mike Lloyd, founder of CLWB.org, working to simplify and democratise artificial intelligence for business growth; and Laura Domicevica, senior engineer at Elucidata, an innovative software company working to use data more efficiently for the purposes of AI and decisioning.

Joining them on the panel were Andy Marsh, Chief Constable at Avon and Somerset Constabulary, who highlighted the potential of AI for preventing crimes and Tristan Cork, senior reporter at the Bristol Post, who warned against the unintended use of advanced technologies. Expertly chairing and engaging the packed room in the lively debate was TV and radio presenter, Steve Le Fevre.

Mike Lloyd, CLWB.org, said: “Whilst the global business value of AI will reach $3.9 trillion by 2022, AI’s complexity means that big tech companies, China, and a maths and computer science elite will benefit disproportionately. To help address this problem we need to simplify and democratise AI, and put AI tools into the hands of many people as possible”.

Laura Domicevica, Elucidata, said: "I believe that AI can be a blessing to us humans as a domain-specific tool that has the potential to reduce mundane tasks and human error, as well as unlock personalisation in medicine, performance and other fields. The main challenge that we have is to agree how to make human-centric systems and minimise harm and disruption caused by this technology - the time to do so is now!"

Chief Constable Andy Marsh said: “I lead one of the most progressive police forces in England and Wales when it comes to the use of visual graphics and advanced analytics. Every day my officers and staff create and harvest millions of pieces of data and it’s impossible for the human brain to figure it all out. So, we rely on algorithms for many areas of business including helping us to manage thousands of offenders throughout Avon and Somerset - working out who is most dangerous, whose risk is escalating and what we’re going to do about it.

“AI can never replace the human elements of leadership, discretion and common sense exercised by officers and staff in their jobs. However, AI can help us focus, shape and inform our decision making with regard to where we put our resources - particularly in times when we have greater and more complex workloads and fewer resources. I believe we should use AI in a professional and regulated way to forecast and mitigate threats.”

Tristan Cork, Bristol Post, said: "Anyone who has seen the TV series Humans, or the terrifying video of a robot army dog that can open doors and cut through steel with its eyes is right to be concerned about where artificial intelligence could take us. There might well be positives from having a self-service check out with the intelligence to know marshmallow doesn't weigh anything, but these might well be outweighed by the downsides of a malevolent dictator with an army of super-intelligent, indestructible killing machines."

Robert Barnes, commercial property partner at Thrings and BIBF committee member, said: “Once again, the Business Breakfast has hit a big issue head-on. While I’m not concerned about a robot taking over my job as a lawyer (just yet), today’s panel brought home quite how far AI has come in recent years. Our economy is projected to change significantly at the hand of this sector, experiencing both a boost from more programing jobs and AI business efficiencies, while other forms of employment will inevitably shrink as humans are replaced by computers.”

Despite no morning ascent due to incoming bad weather, Business Breakfast participants enjoyed a close-up view of the tethered balloons against the stunning Ashton Court backdrop and accompanying classical music.

The early risers also experienced music and media through a cutting edge haptic chair, as made available by local tech company SubStrike.

The fiesta is Europe’s largest annual gathering of hot air balloons, attracting more than half a million visitors to the city over four days. Celebrating its 40th anniversary this year, over 130 balloons are expected to rise above the city, with visitors to Ashton Court also enjoying live entertainment, aerobatic displays, fairground rides, food, drink and children’s entertainment.

Following years of engagement with the revered ballooning event, Thrings was made the fiesta’s official legal partner in June this year.

For questions relating to Thrings’ involvement with the fiesta, please contact Robert Barnes.

Tweets and photos from the morning’s Business Breakfast can be viewed on @ThringsLaw or by searching the #businessbreakfast and #BizBreakfast hashtags.


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