Industry leaders gathered at the House of Lords yesterday for a high-level summit on the impact of artificial intelligence (AI) on the UK economy, with speakers warning of relentless cyber threats and a widening digital skills divide unless urgent action is taken.
Chaired by Steven George-Hilley of Centropy PR, the debate brought together experts from cybersecurity, law enforcement, financial services, infrastructure, and tech startups to discuss how AI is reshaping the workforce and the risks and opportunities that come with it.
While AI’s potential to accelerate digital transformation and boost productivity was widely acknowledged, many panellists also highlighted the escalating risks posed by cybercriminals, data privacy lapses, and an increasingly outdated digital skill base across key sectors of the economy.
Dr Janet Bastiman, Chief Data Scientist at Napier AI, addressed the growing threat of financial crime in the UK, noting that AI-powered solutions could save financial institutions £2.2 billion a year by improving anti-money laundering efforts.
“AI-driven solutions can bolster compliance, improve the accuracy of transaction screening, and identify criminal networks more effectively,” she said.
Leigh Allen, Strategic Advisor at Cellebrite, emphasised how AI is transforming policing and national security: “AI helps unlock digital evidence faster and reduces investigation times—key to modernising strained police forces,” Allen explained. “It’s not just about reacting to threats, but enabling law enforcement to lead in a digital-first world.”
Linda Loader, Software Development Director at Resonate, highlighted AI’s growing role in transport and critical infrastructure, noting that data quality and robust protections must underpin any AI deployments in the rail sector.
“AI can transform rail operations, but we need secure, small-scale use cases today to build for tomorrow.”
Chris Davison, CEO of NavLive, spotlighted the construction sector, where AI and robotics are enabling real-time 2D and 3D modelling of buildings.
“By creating real-time spatial data, we’re helping architects and engineers cut time and costs, while supporting more sustainable retrofitting and brownfield development.”
Richard Bovey, Chief for Data at AND Digital, warned that a “widening AI gap” is emerging between large enterprises and small to mid-sized businesses.
“The AI winners are already years ahead in experimentation and data infrastructure. But SMEs can catch up by investing in data capabilities now to avoid falling into a competitive disadvantage.”
With rapid AI adoption comes an urgent need to ensure ethical data use and privacy, argued Arkadiy Ukolov, CEO and Co-Founder of Ulla Technology, saying: “Many AI tools send sensitive data to third-party providers, exposing confidential meetings and documents to risk. This is unacceptable. Privacy and safety must be at the core of all AI development moving forward.”
Richard Cuda, of startup Kasha, said AI can play a vital role in helping entrepreneurs launch and grow their businesses. The technology provides access to tools and efficiencies once only available to large enterprises.
As the UK accelerates its AI ambitions, the summit made clear that success depends on closing the digital skills gap, addressing cybersecurity vulnerabilities, and embedding ethical principles and trust at the heart of AI innovation.
“The AI conversation can’t just be about opportunity,” said George-Hilley. “It must be about safeguarding citizens, strengthening national resilience, and making sure businesses of all sizes can thrive in a fast-evolving digital economy.”
Read more:
House of Lords AI Summit warns of ‘relentless’ cyber threats as UK races to close digital skills gap