The use of artificial intelligence (AI) and automation is transforming job requirements in a variety of industries. Therefore, business needs to have strategies in place to seize the exciting opportunities presented by AI, whilst being mindful of potential challenges to when implementing digital transformation or AI adoption systems into businesses.
In fact, it seems that every sector is being reshaped by this timely issue. Businesses across London, and indeed the world, are incorporating AI-powered systems, and that’s why our BID recently convened a group of experts to discuss the opportunities and challenges AI presents.
This included Will Durden, founding director of Momentum Transport Consultancy, Jasbir Sondhi, vice Principal, Westminster Kingsway College/Capital City College Group, Anil Doshi, assistant professor at UCL School of Management, and Dylan O’Reilly, director at ARHT. What was most extraordinary, was that we effectively beamed Dylan into the conference via an ARHT CAPSULE, where he joined the forum virtually and in real-time from another location. His 3d image appeared in 4K resolution, giving an awe-inspiring affect in the room as though he was sitting there in a capsule, as he joined in all the discussions without any delays, it was very efficient and engaging.Â
This shows how AI is already being incorporated into businesses and business events. At many different levels within businesses, AI is involved, or becoming involved, from helping to organise stock to AI personal assistants, freeing up creative thinking by generating ideas for campaigns, and even to building AI into our workplace datasets to write papers such as contracts.Â
However, experts at the meeting stressed that we must not forget the human element, especially when it comes to overseeing AI integration, such as to ensure the wording written by AI makes sense or that the stock has been arranged correctly for example. AI does not have emotional intelligence, so although it can assist with various jobs, the skills to use and manage AI, need to come from a human.
Here at the Central District Alliance and Hatton Garden BIDs we want to ignite positive change for the 400 plus businesses we represent and serve in Holborn, Clerkenwell and Hatton Garden, such as the British Museum, Mishcon de Reya, Google, Blue Orchid Group and Group M.
We have already begun our journey into the Fourth or Modern Industrial Revolution, which continues to transform industries and economies through technological advances. This revolution combines emerging technologies such as artificial intelligence, big data, and the Internet of Things whereas previous revolutions have been driven by mechanisation, electricity, and digital technology.
Increasing efficiency and economic growth can be achieved through automation, data exchange, and production customisation, which is why we want to work with this transformation to ensure job security and any technological adjustments are handled in an ethical and secure way.
As chair of the Stakeholder Advisory Group for the London Skills Improvement Plan, I know that the biggest challenge for businesses is digital technology and how quickly it is being integrated into London businesses and the UK in general. Many ask, ‘how can they keep pace?’ That’s why we strive to work with local businesses to put these fears to rest and train the future workforce – and this is one of the major strengths of BIDs – our convening power.
Our commitment to inclusivity and cooperation ensures that the Central District Alliance remains a powerful and effective advocate for our members. With regards to AI, we want to work with local businesses to create an environment where they can excel and utilise the positive attributes of AI to continue the success of our thriving district.
It is our goal to work with businesses to implement courses on the metaverse and coding. To allay the concerns that businesses have about technology and artificial intelligence, as well as the speed at which they are being integrated or are integrating into everyday life, so, we have partnered with Capital City College Group ‘Digital Academy Hub part of the Mayor of London’s Skills Academies programme. The Academy offers insight into the opportunities available in the digital sector and has assisted more than 2,000 Londoners in obtaining education and employment in the sector.
For more information on the Central Alliace District visit centraldistrictalliance.com.
About Central District Alliance
Central District Alliance is the Business Improvement District for Holborn and Clerkenwell.
Formerly known as Midtown BID, Central District Alliance (CDA) is the rebranded and revitalised Business Improvement District (BID) for Holborn and Clerkenwell. CDA are a partnership bringing together members, local authorities, and the third sector to drive growth and success.
CDA works collaboratively with a diverse range of stakeholders and has a proven record of strong partnerships with members, local communities, Camden Council, Islington Council, Transport for London (TfL), and the third sector enabling CDA to act as a facilitator, custodian, ambassador, and champion for local businesses.
Business Improvement Districts (BIDs) are a transformative way to manage business communities, and their popularity is growing rapidly in London. Central District Alliance proudly stands as one of the largest and most successful BIDs in the country, showcasing the positive impact that BIDs can have on attracting and retaining businesses in the area.
Representing over 400 businesses, CDA’s primary goal is to be the premier destination for businesses seeking to thrive in London’s bustling environment.
