Goldman Sachs gathered bankers and small business leaders in Birmingham this week for the 10,000 Small Businesses UK summit, focusing on the critical role of artificial intelligence (AI) in business growth. The event featured participation from 300 firms and aimed to educate attendees on both the opportunities and risks associated with AI adoption.
Former UK Prime Minister Rishi Sunak, now a senior adviser at Goldman Sachs, emphasized the urgency of embracing AI, noting that larger corporations often overshadow small businesses. He highlighted a farmer in North Yorkshire who utilized AI to improve cattle health, demonstrating practical applications of the technology.
Sunak’s advocacy for AI during his tenure included a commitment of over £100 million toward addressing regulatory and educational challenges, alongside hosting the inaugural global AI safety summit. He has since engaged in a diverse portfolio that includes advisory roles at Anthropic and Microsoft, declaring £1.1 million in earnings at Goldman Sachs, which he donated to charity.
A recent survey of 400 graduates from the Goldman program revealed that an impressive 98 percent are already integrating AI into their operations. Business owner Phil Eckersley shared his experience using AI to enhance care plans while adhering to strict data privacy standards.
With approximately 2,500 small business leaders participating in the 10KSB program to date, the initiative fosters community among entrepreneurs who often face isolation. Asahi Pompey, Goldman’s global head of corporate engagement, noted the importance of creating connections in such a competitive environment.
Goldman Sachs has also committed to expanding its presence in the UK, having signed a 10-year lease for new office space and planning to add 500 roles by November.
Why this story matters
Key takeaway
Opposing viewpoint
