South Korea and the UK are set to co-host the second global AI summit in Seoul this week, a response to the rapid advancements in AI since the first summit in November. UK Prime Minister Rishi Sunak and South Korean President Yoon Suk Yeol will lead a virtual summit on Tuesday, emphasising the urgent need for improved AI regulation amidst growing concerns over the impact of technology on society.

In a joint article, leaders of the UK and South Korea highlighted the necessity for global AI standards to prevent a 'race to the bottom'. The summit, now called the AI Seoul Summit, will address AI safety, innovation, and inclusion. A recent global AI safety report underlined potential risks such as labour market disruptions, AI-enabled cyber attacks, and the loss of control over AI, stressing that societal and governmental decisions will shape the future of AI.

Why does it matter?

Initially focused on AI safety, the November summit saw prominent figures like Elon Musk and Sam Altman engage in discussions, with China signing the 'Bletchley Declaration' on AI risk management alongside the US and others. This week's events will include a virtual summit on Tuesday and an in-person session on Wednesday featuring key industry players from companies like Anthropic, OpenAI, Google DeepMind, Microsoft, Meta, and IBM.