The UK Prime Minister’s AI Safety Summit, to be held at Bletchley Park in early November, is an opportunity for the United Kingdom to take the lead on artificial intelligence (AI) regulation and signal its openness to industries and sectors developing the next generation of AI.

Ahead of the summit, this report calls for the government to take a ‘grown-up and proportionate attitude’ towards AI regulation to maximise opportunity and minimise risk.

The report recommends the introduction of a safety charter and prediction markets as consumer-friendly solutions to improving AI safety and alleviating public concern.

The report also outlines a Blueprint for Bletchley, warning that over-regulating new and emerging uses for AI could stifle innovation and damage the Prime Minister’s ambition to make the UK an AI hub.

The report acknowledges the potential harms that AI can cause, and the need for safety regulation, but argues these should be balanced against the huge potential benefits. It argues the UK should lead international partners, taking an approach which ‘tackles the use of technology rather than the technology itself’, for example when dealing with issues such as 'deep fakes'.