World AI Day highlights AI's transformative power & potential

Artificial Intelligence (AI) continues to redefine the contours of modern business and lifestyle, with stakeholders from various sectors sharing their insights ahead of World AI Day, celebrated on 16th July each year. This day offers an opportunity to reflect on the significant advancements in AI over the past year and consider the future direction of this transformative technology.

Kumar Mitra, Managing Director of ANZ at Lenovo ISG, underscores the importance of recognising the practical applications of AI. "In today's fast-paced digital landscape, AI is no longer just a futuristic concept but a transformative force reshaping the business landscape. ANZ businesses have not shied away from embracing AI solutions to gain a competitive edge. According to a recent study by Lenovo, 83% of ANZ CIOs have expressed certainty that AI will create a competitive advantage, with 38% considering it to be a game-changer for their organisations," Kumar stated.

Mitra further elaborates on the necessity for businesses to develop and evolve the entire industrial ecosystem to make AI accessible at all stages of development and application. "As business needs expand and the opportunities for AI grow, hybrid Smarter Infrastructure becomes important to effectively manage AI complexities. This ensures the generation and processing of data in real-time, helping businesses deliver superior customer experiences. Everyone should benefit from these advancements in a more sustainable future created through smarter AI. Lenovo is at the forefront of this exciting journey as it upholds its commitment to its vision of 'AI for All' – making AI accessible and inclusive to drive intelligent transformation."

Commenting on the policy environment in the UK, Richard Potter, CEO of Peak, calls for a more structured regulatory framework. "This year's World AI Day is marked by a period of acceleration for the UK tech scene. For that to continue, we must see regular investment, a drive to upskill the national workforce, and regulatory clarity. We have long advocated for a central Regulatory Innovation Office, which provides directives, guidance, and a single source of truth for all parties. Clarity on the powers of each regulator, their relationship with each other, and the new Office should be clearly defined as soon as possible. This will allow organisations to accelerate without confusion and harness the UK's AI potential," Potter emphasised.

Phil Burr, Head of Product at Lumai, focused on the role of education in maintaining the UK's leadership in AI. "A new UK government is the ideal time to look to the future and to embrace the opportunities that AI can bring to the economy. This includes using AI for more efficient and effective delivery of health services and improving business efficiency across all sectors. We need to nurture the UK's exceptional AI talent, leveraging our world-leading education institutions to encourage education on AI and help to further develop the next generation of talent," Burr noted.

Meanwhile, Peter Mildon, COO of VivaCity, highlighted how AI is transforming the UK's transport sector. "Over the last two years, AI has really started to accelerate how it is changing many areas of our lives, one of which is our transport sector. We are using AI to transform transport systems by capturing real-time, accurate data that can improve road safety, optimise traffic flow, and support active travel initiatives like cycling and walking. The insights created by AI-powered systems can help local authorities identify changes that can be implemented to save lives by making our roads safer," Mildon explained.

World AI Day brings to the fore a range of perspectives on AI, from regulatory needs and educational imperatives to practical applications in business and transport. These insights collectively emphasise the pivotal role AI will continue to play in shaping a sustainable and inclusive future. With ongoing advancements and a concerted effort across industries, AI stands poised to drive intelligent transformation globally.