Mayor of London calls for study to highlight AI impact on the capital's economy

CognitionX, the specialist AI research house, has been commissioned by the Mayor of London to compile an evidence base for London policy towards the AI industry.

The report will identify actions the Mayor can take to maximise the impact of AI on the economy of London.

CognitionX will evaluate opportunities for stimulating adoption and deployment, attracting and retaining AI entrepreneurs and businesses to London, as well as removing barriers and supporting growth.

The Mayor is urging AI companies in London to participate in the study to raise the profile of the current and potential economic and social benefits of AI to the city.

Sadiq Khan, the Mayor of London, said: “This report will help to uncover the opportunities to unlock innovation and investment in London, in order to maximise the economic impact of AI on the city.

“It will also identify the challenges we face in positioning the capital as the best place to start, grow or relocate an AI business. Artificial Intelligence has the potential to transform almost every industry across the capital.

“London is in a strong position in the data economy and is already home to innovative, fast-growing companies like Deepmind, CityMapper and Satalia – not to mention the kind of work being done to improve public services, such as the data-driven approach to understanding rent arrears emerging through Hackney Council’s partnership with Pivigo.

“London has a tremendous opportunity to build a world-class AI hub which serves a range of industries – from healthcare to finance to law – and which also helps build the AI-driven economy of the future in a way that works for all Londoners.”

Tabitha Goldstaub, co-founder of CognitionX, added: “For companies leveraging AI, now is the time to shine. We’re calling on firms of all sizes to tell us about the AI solutions they have been developing or using.

“The information gathered will be presented on CognitionX’s platform and on The Mayor’s portal, as well as downloadable as a raw file for others to use. I have no doubt that together we will continue to make London a great place for AI innovation.”

The report will be presented at CogX - The Festival of All Things AI on the 11th and 12th of June.

Charlie Muirhead, founder and CEO, CognitionX, also commented: “We all need to understand what AI is, what is isn’t and how we can benefit. At CognitionX we are on a mission to democratise access to information on AI and this report is an important part of CognitionX’s commitment to being the most trusted source of advice on All Things AI.

“All successful organisations will need to take advantage of artificial intelligence, but it is a complex, fragmented and ever-changing domain and we want to help ensure a responsible transition to an AI-driven society.”