The CBI’s (www.cbi.org.uk) new report Disrupting the future — sponsored by Vodafone — highlights how firms and the Government must pave the way for the adoption of cutting-edge technologies.

It calls for a joint commission (in early 2018) involving business, employee representatives, academics and a Minister to “examine the impact of Artificial Intelligence on people and jobs, set out plans for action that will raise productivity, spread prosperity and open up new paths to economic growth”.

CBI deputy director-general Josh Hardie said: “Much is made of new technologies and how they will impact companies in 10 or 20 years.

"However, these are no longer on the fringes; they are shifting rapidly into the business mainstream. “The UK must lead the way in adopting these technologies, but we must also prepare for their impacts.

"That’s why we urge the Government to set up a joint commission on Artificial Intelligence in 2018 to better understand the impact on people’s lives and jobs — and our future economic growth.

“Artificial Intelligence solves problems, ‘Blockchain’ changes how businesses exchange value, and the Internet of Things unlocks big data.

"Companies of all sizes — in any sector and across the UK — have a golden opportunity to benefit and lift their productivity, while businesses that invest and innovate tend to grow quicker and get the best out of their workforce.

"However, regulatory hurdles, security concerns and the difficulty of finding people with the right skills mean that many firms are slow to adopt new technologies.”

Matt Hancock, the Minister of State for Digital, said: “We want the UK to lead the way in emerging technologies, and we welcome this report from the CBI.

In our manifesto, we committed to establishing a ‘data use and ethics’ body that would work with industry to answer some of the vital questions on the impact of big data and Artificial Intelligence, and so create the right conditions for digital businesses to thrive.”