The AI Summit at Bletchley Park was the first time that countries across the globe have convened to discuss the opportunities and risks of AI. But whilst the UK took the lead in organising the Summit, the US Vice President Kamala Harris seized the moment to stake their claim as global leader in AI:
“Let us be clear: when it comes to AI, America is a global leader. It is American companies that lead the world in AI innovation. It is America that can catalyse global action and build global consensus in a way that no other country can.”
Is Kamala Harris correct? Should we down tools in the UK and accept that we won’t be able to keep up?
When we were researching the content for our Guide to AI in Event Production we discovered that 50% of UK adults were not using AI at all (ONS Opinions and Lifestyle Survey, May 2023). Compare this to The Pew Research Centre survey, which found that 44% of US adults are also not regularly interacting with AI, and you could surmise that the UK is not too far behind in terms of public adoption.
What are the market predictions telling us? There’s no denying that the US has the largest projected market size for AI at a whopping $87.18bn in 2023, but when you compare it to the market size as a % of GDP or the projected % annual growth rate of the market between 2023-2030, again the UK stacks up well compared to the US.
| GDP 2022* | Projected AI Market Size in 2023 | % of GDP | Projected % AI Annual Market Growth Rate 2023-30 |
UK | $3,070,667,000,000 | $9,870,000,000 | 0.32% | 15.17% |
US | $25,462,700,000,000 | $87,180,000,000 | 0.34% | 15.36% |
Whilst the US might be the biggest AI player in terms of market size, the UK also has an important role in the development and adoption of AI and there’s a huge slice of the pie to be had for our industry. It was only just announced, in September 2023, that the University of Bristol would be hosting the new AI Research Resource (AIRR), one of Europe’s most powerful supercomputers, in a move to drive pioneering AI research and innovation in the UK.
The UK Government is clearly investing in AI and wants to ensure we have a seat at the AI table and by spearheading the charge on a world-first international agreement between 27 countries on artificial intelligence at Bletchley Park earlier this month, they have certainly helped to lay a place at that table.
If you’d like to find out more about AI and how it can streamline processes, enhance attendee experiences, and optimise event outcomes, then please download our free Guide to AI in Event Production or get in touch to find out how we are helping organisations use AI to deliver events more efficiently.