Bridging the gap between AI principles and policy: A call to action from Westminster

In a pivotal gathering at The Palace of Westminster on 1st July, leading experts from business, technology and policy came together to address one of the defining challenges of our era: how to translate high-level AI principles into effective, inclusive and adaptive regulation. Hosted by Chris Coghlan MP and London Business School’s Professor Michael Jacobides - the event “From Principles to Practice: What Policymakers Need to Know About AI – Now” sounded a call for action and a more representative approach to AI governance.

Professor Jacobides, an expert in strategy and entrepreneurship, opened with a stark reminder: “We are in a moment of inflection. AI isn’t just about innovation, it’s about the architecture of society.” His remarks framed the urgency of moving beyond white papers and into practical, implementable policies that consider the complex and rapidly evolving AI landscape.

The event convened a distinguished panel of thought leaders: Lord Holmes of Richmond, a key architect of the UK’s AI Regulation Bill, Dr. Erin Young, Head of Innovation and Technology Policy at the Institute of Directors and Dr. Nikolaus Lang, Global Leader of BCG’s Henderson Institute. Each brought a unique perspective to the question of what a fit-for-purpose AI regulatory ecosystem should look like.

Lord Holmes stressed the ethical imperative for immediate and values-driven action: “AI is not about the future, it’s about the present. It’s critical that our regulatory frameworks are both agile and anchored in democratic values.” His comments were echoed by Dr. Lang, who warned of the geopolitical risks of fragmented international regulation: “We must avoid a regulatory patchwork, global collaboration is not optional, it’s essential.”

Dr. Young, representing the voice of UK business, underscored the appetite for clear and constructive guidance: “Businesses are not asking for less regulation, they’re asking for smarter regulation. We need policies that empower innovation while protecting citizens.”

A recurring theme throughout the dialogue was the need to build a regulatory framework that reflects the full spectrum of the UK economy, not just tech giants or policymakers, but also SMEs, local authorities and traditional industries. As AI increasingly impacts all sectors, regulation must become more inclusive, dynamic and responsive to real world challenges, including skills gaps, data governance and competitive fairness.

Participants advocated for a shift from principle-heavy discourse to action-oriented solutions: regulatory sandboxes, evidence-led experimentation and meaningful partnerships between government, academic and civil society. They also warned against regulatory capture by dominant players, calling for stronger safeguards to maintain competition and foster innovation across the ecosystem.

Professor Jacobides concluded: “The time for conceptual frameworks has passed. If the UK is to lead on AI, it must do so not just with technology, but with thoughtful, inclusive and adaptive governance.”

The event marked not just a conversation, but a call to build a regulatory architecture that keeps pace with AI deep rooted in democratic values and designed to serve all corners of society.

A recently published whitepaper by Professor Michael Jacobides, Dr Nikolaus Lang, Annabelle Gawer and David Zuluaga Martinez on The Political Economy and Geopolitics of AI Regulation can be read in full: here