Lopa Patel MBE lead a ‘Building Responsible AI‘ panel discussion on Friday 22 November 2024 for Diversity UK and Futurum Financial Advice, held at the Asian Tech Pioneers Winter Drinks Reception to celebrate the 10th anniversary of the Asians in Tech initiative. This event brought together key stakeholders in technology, artificial intelligence (AI), and digital inclusion. This year’s theme, Building Responsible AI, centred on the rapid advancements in AI and the pressing need to address its ethical and societal implications, with a particular focus on its potential impact on minority communities.
The reception served as a platform for discussions on shaping the future of AI regulation and governance, especially in the context of the European Union’s AI Act, which came into effect on 1st August 2024. The Act represents a pivotal moment in global AI regulation, categorising AI systems into three risk levels and introducing a framework to manage potential harms arising from their deployment.
The Panel Discussion
The evening featured an insightful panel discussion moderated by Lopa Patel MBE, Chair of Diversity UK. The panel included a distinguished line-up of speakers:
Petra Abbam – Principal Responsible AI Manager, BBC
Seto Adenuga – AI Governance & Ethics Manager, Kainos Group plc
Jana Novohradská – Member of CERAI, an independent advisory committee to Slovakia’s Ministry of Investments, Regional Development, and Informatisation
Zahra Shah – AI & Frontier Tech Expert
The panel collectively explored how AI can be developed responsibly to minimise bias and ensure diverse communities are both protected and empowered in the digital era.
Why Building Responsible AI Matters
While AI holds immense potential to drive innovation and enhance lives, it also poses significant risks, particularly for communities that have historically faced marginalisation due to bias in technology. Algorithmic discrimination can manifest in critical areas such as recruitment and healthcare, underscoring the importance of addressing these risks to shape a fair and just AI-driven future.
The concept of Responsible AI champions the development of ethical, transparent, and accountable AI systems that reduce harm, foster inclusivity, and uphold human rights.
Key Discussion Points
The panel explored several critical issues, including:
Guardrails for Responsible AI Development
What standards, frameworks, and ethical principles should developers employ to mitigate risks of bias and harm? This included existing data standards like ISO 42001, GDPR and AI guidelines.
How can these safeguards be effectively implemented?
Correcting AI Models
How can AI systems be designed to ensure transparency, fairness, and the ability to rectify errors or biases?
The Role of AGI (Artificial General Intelligence)
Is AGI a credible future development or an overhyped concept?
How should this idea influence current approaches to AI governance?
Bias in AI and Marginalised Communities
How can we ensure AI prioritises the needs and rights of groups most vulnerable to biased algorithms, such as racial, ethnic, and gender minorities, as well as underrepresented geographic and demographic populations?
Reflections on the EU AI Act
Will the EU AI Act be effective?
Should Britain adopt a similar framework, or are there alternative regulatory models to tackle the misuse of AI? The panel outlined the current AI regulation in the UK which is divided between the ICO, CMA, FCA and Ofcom without there being a central AI regulator.
The panel also highlighted examples of positive AI applications, underscoring its potential for good when designed responsibly.
Insights from the Event Host
Alex Danks, Financial Advisor and Principal at Futurum Financial Advice, said:
“In the UK, financial planning is not taught in schools. You are thrust into the real world and left to fend for yourself, which stifles the economy, innovation, business, and wealth creation. It’s vital to recognise that these tasks cannot simply be delegated to artificial intelligence without intelligent human oversight.
Diversity UK’s next generation of changemakers—you, the audience—represent the future. I am inspired by the insightful questions raised about AI and its implementation and deeply impressed by the panellists and their expertise. I hope Futurum Financial Advice and Diversity UK can continue to build on the synergies we’ve explored to bring more exciting events in the future.”
The evening underscored the importance of fostering inclusive and ethical AI systems, offering a meaningful dialogue on the challenges and opportunities presented by AI as it shapes the future of society.