Fintech chiefs debate the future of UK’s digital economy in Parliament

Fintech industry leaders warned of the risks posed by AI and ChatGPT last night as well as discussing the role automation and digital skills will play in the driving economic growth.

Speaking at the Parliament Street think tank’s Digital Economy summit on Monday night, which was hosted by Dean Russell MP for Watford and chaired by Steven George-Hilley of Centropy PR, a panel of fintech experts debated the ethics of machine-learning and the UK’s skills crisis.

“Small businesses are the economy’s backbone – better support and collaboration is needed between government, academia and organisations alike to meet the growing digital economy’s needs,” said Steven Mooney, founder and CEO, FundMyPitch.

Khalid Talukder, co-founder of fintech firm DKK Partners said, “Blockchain will advance significantly off the back of digital currencies from economies. It’s only a matter of time before digital currency becomes more common in the UK.”

Meanwhile said Fraser Stewart, co-founder of fintech platform Lyfeguard said, “Half of us in the UK struggle to manage important personal information. Empowering people to gain insights and life management capabilities to streamline their life is a core aspect of the digital economy.”

Dean Russell MP for Watford who hosted the debate said, “We live in a world where international collaboration is so important. There’s great scope to see how far we can take technology to see how it can work for the global economy.”