Britain’s technology under secretary has said that SMEs need more support to deal with the challenges associated with adopting AI.

At City & Financial Global’s AI in financial services conference at City Week, Saqib Bhatti MP, parliamentary under secretary of state at the Department for Science, Innovation and Technology (DSIT) told delegates that many small businesses feel they lack the knowledge or support to utilise AI.

The comments come after IONOS, the European digitalisation partner for small and medium-sized businesses (SMBs), published new research in partnership with YouGov which finds that while many small and medium-sized businesses understand the benefits of AI, UK business leaders have the "lowest levels of AI knowledge and adoption".

During his ministerial address on AI adoption, Bhatti said that there is “more to do” to support SMEs, which he said are often given confusing information about suitable tools.

“This can and this must change,” he continued.

The MP said that when society looks back on AI, it will be the single biggest technological transformation of the 21st century, adding that the technology is capable of “extraordinary good” because it can take on the greatest challenges of our time.

However, he said that in order to realise this, everyone needs to be empowered to use the technology, including small businesses.

Bhatti went on to say that to reap the benefits of an AI-driven productivity boost, the UK must support the widespread adoption of AI amongst SMEs.

“SMEs are the guarantor of prosperity,” he continued.

The under sectretary of state explained that while safety will be an enabler of growth in the field, work to keep the use of AI safe shouldn't come at the expense of supporting businesses.




confirming that a top priority is to support small businesses in the challenges of adopting AI and that SMEs are the best place to start with the technology.

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