UK Government Holds AI Roundtable to Help SMEs Increase Productivity
On Monday, 25th March 2024, Kelly Goss, Founder of Solvaa, attended an invite-only Artificial Intelligence (AI) Roundtable at 10 Downing Street with members of the UK Government. The Roundtable, which was specifically aimed at helping small- to medium-sized enterprises (SMEs) adopt AI, saw experts and successful SME adopters advising the UK Government on current challenges and recommended solutions to help enhance SMEs’ productivity.
The AI Roundtable, attended by 12 handpicked experts, was an exclusive opportunity for the UK Government to learn valuable insights on the AI landscape for SMEs. The event was hosted by Kevin Hollinrake, Minister for Enterprise, Markets and Small Business, and Lord Franck Petitgas, who welcomed attendees to 10 Downing Street for a free-flowing discussion on the topic.
Solvaa, a consulting company specializing in AI strategy and implementation, has been invited to attend a UK Government workshop on the early-stage AI adoption journey for SMEs on 3rd May. This workshop aims to test the Government’s emerging thinking on AI adoption and explore potential roles for Solvaa in supporting SMEs in adopting AI.
During the AI Roundtable, Kelly Goss urged leaders to provide funding, educational platforms, and access to tools and experts to enable SMEs to reap the benefits of AI’s business capabilities. “It’s not every day you’re invited to No.10 Downing Street,” says Goss, highlighting the significance of the Roundtable and its potential impact on SMEs.
The UK Government’s focus on AI comes as The United Nations (UN) General Assembly passes a landmark global resolution on AI, and the European Union (EU) details its AI Act, the first comprehensive legal framework on AI.
AI in the SME landscape
The Government’s Roundtable, which sought to capture the reflections of attendees, was an informal and free-flowing discussion on their experiences using and adopting AI. This discussion was also aimed at understanding how the UK Government and industry can collaborate to drive the uptake of digital AI.
According to Goss, many UK SMEs are overwhelmed by the development of AI technology and lack knowledge on how it can help their businesses. This lack of understanding, combined with a lack of access to educational resources and experts, presents significant barriers to SMEs adopting AI and utilizing it effectively to increase productivity.
A policy report by Tech Hub, which focused on powering digital adoption for UK SMEs, found that saving time is the main driver for businesses using the latest technologies. Faster processes and better customer connections can see tech-savvy leaders gain up to 3.5 weeks back every year, totalling a saving of 150 hours, simply by automating everyday tasks and processes.
However, despite the value of AI-led automation, over 53% of SMEs fail in their technology adoption journeys, according to a Lab Insights Report. This highlights the importance of leadership support in spurring widespread access, implementation, and adoption of effective AI solutions.
Government support for SMEs
Kelly Goss, who knows the challenges of entrepreneurship and utilizing technology without funding, emphasizes the need for digital adoption programs and funding for SMEs to help clear the path for significant productivity changes. She also stresses the importance of educational resources and expert help in helping SMEs understand their options and properly implement AI.
At the Roundtable, Goss was joined by familiar associates and fellow AI experts, such as Anthony Impey, MBE of Be The Business, and Emma Jones, CEO of Enterprise Nation. Goss has previously partnered with Be The Business as a consultant for its Tech Adoption Labs, which provide SME owners with hands-on experience with new technologies. She is also an advisor member for Enterprise Nation, engaging in webinars for their community and speaking at their conferences.
Goss has also previously discussed rapidly advancing technology with Phil Smith CBE, who heads up the Government’s Digital Adoption Taskforce, at the November 2023 Beyond the Hype: Making AI Work for Business Productivity Conference in Manchester, part of National Productivity Week.
Sue Daley of techUK, Gary Parlett of Answer, Cian Duggan of Applied Insights AI, John Abel of Google, and Nish Parekh of Kapdaa were also present at the Roundtable. “I hope that, together, we’ve contributed to the next steps towards helping UK SMEs improve their productivity,” says Goss, echoing the sentiments of other industry experts present.
The key takeaway from the Roundtable was that the UK Government needs to help SMEs with funding, with attendees suggesting a proposed match fund program. SMEs also need support from leadership through educational platforms and access to diagnostic tools and experts.
Power of AI for the economy
Adopting digital tools and technologies is not only beneficial for SMEs but also for the UK Government. According to the Be the Business
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.