Next Generation of AI Presents Huge Opportunities Says Harry Powell

A technology expert has stated that the next generation of artificial intelligence (AI) offers a "huge opportunity" for Guernsey's financial services sector and other industries.

Harry Powell explained that new strategies, like multi-agent AI, could help the island boost its international competitiveness.

He explained that multi-agent AI relies on multiple AI accounts, or agents, to review each other's work, creating "checks and balances" that significantly minimize errors.

Powell said: "Finance requires lots of people, you don't have lots of people, so you're no longer limited by the number of people on your island - the opportunity is huge."

Powell, who has collaborated with companies like Barclays and Jaguar Land Rover, mentioned that while the current generation of AI, like ChatGPT, excels at summarizing documents and data, it sometimes introduces inaccuracies or overlooks details.

Powell explained that the new approach involves having AI agents review each other's work, much like how people check their colleagues' work.

He said this would enable companies and governments to rely on AI to "automate processes" and "make decisions" with confidence.

Powell was in Guernsey to discuss multi-agent AI at the Data and Doughnuts event held at La Valette Bathing Pools in St Peter Port.

The event's organiser, Katie Inder, said she could "see so many ways this technology could make life a lot easier and create products that delivered real value".

She said there was a "growing interest" in next-generation AI and an "air of excitement" about other emerging technology on the island.