My Lords, I declare my technology interests as adviser to Boston Ltd. I thank all the organisations and individuals that took the trouble to meet with me ahead of the Second Reading of my Bill, shared their expertise and insight, and added to the positive, almost unified, voice that we had at Second Reading in March. I thank colleagues around the House and in the other place for their support, and particularly thank the Labour and Liberal Democrat Front Benches for their support on all the principles set out in the Bill. I also thank my noble friend the Minister for the time he took to meet with me at all stages of the Bill.
It is clear that, when it comes to artificial intelligence, it is time to legislate—it is time to lead. We know what we need to do, and we know what we need to know, to legislate. We know the impact that AI is already having on our creatives, on our IP, on our copyright, across all that important part of our economy. We know the impact that having no labelling on IP products is having. Crucially, we know the areas where there is no competent legislation or regulator when it comes to AI decisions. Thus, there is no right of redress for consumers, individuals and citizens.
Similarly, it is also time to legislate to end the illogicality that grew out of the Bletchley summit—successful of itself, but strange to put only a voluntary code, rather than something statutory, in place as a result of that summit. It was strange also to have stood up such a successful summit and then not sought to legislate for all the other areas of artificial intelligence already impacting people’s lives—oftentimes without them even knowing that AI is involved.
It is time to bring forward good legislation and the positive powers of right-size regulation. What this always brings is clarity, certainty, consistency, security and safety. When it comes to artificial intelligence, we do not currently have that in the United Kingdom. Clarity and certainty, craved by consumers and businesses, is a driver of innovation, inward investment, pro-consumer protection and pro-citizen rights. If we do not legislate, the most likely, and certainly unintended, consequence is that businesses and organisations looking for a life raft will understandably, but unfortunately, align to the EU AI Act. That is not the optimal outcome that we can secure.
It is clear that when it comes to AI legislation and regulation things are moving internationally, across our Parliament and—dare I say—in No. 10. With sincere thanks again to all those who have helped so much to get the Bill to this stage, I say again that it is time to legislate—it is time to lead #OurAIFutures.