Ireland must become 'global hub' for AI, says Coveney

Minister Simon Coveney said AI will change how many companies operate and that he wants 'Ireland to be at the sharp end of that opportunity and that innovation'. Picture: Aengus McMahon

Ireland must become a "global hub" for artificial intelligence (AI) to create and retain thousands of high value jobs here in the years ahead, Minister for Enterprise, Trade and Employment Simon Coveney has said.

Mr Coveney has said this country is uniquely positioned to take advantage of the emerging technology, despite serious concerns being raised around it, and said ignoring or trying to shut down AI will only send jobs to other countries.

However, given the dangers posed to children, businesses and media organisations, the Cork South-Central TD warned that strong regulation will be key.

"There are huge opportunities and the idea that we can kind of shut it off or ignore it is a bit like swimming against the tide, it's not going to work," Mr Coveney told the Irish Examiner.

"AI is going to change how how many companies operate, how society evolves, how economies evolve, and I want Ireland to be at the sharp end of that opportunity and that innovation, but also very much involved in the conversation about how we regulate that change because it also poses huge threats," he said.

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Mr Coveney's remarks come amid significant redundancies across social media firms, with Facebook owner Meta the latest to announce that 490 jobs will go at the firm's international headquarters in Dublin.

However, Mr Coveney said the fact that the headquarters of so many tech companies are already here is a major advantage that should be capitalised on.

"They're here already, companies like Cisco, IBM, Meta and Apple they're all investing in AI heavily. All of the big players that are in Ireland — don't think that they're waiting for an AI company to come and give them the services, they're in the middle of it and they're also trying to manage the use of AI in a way that's appropriate and transparent and innovative."

Describing advancements in AI as "extraordinarily exciting" he said: "I hope Ireland will be the global hub for advancement, research and also the right kind of regulation around AI."

"If Ireland wants to remain at the centre of the world in terms of technology; the research and development around that; the jobs that get created around that; the wealth that gets created around that; well then we have to be at the forefront and we have to have an open mind to these technologies."

Earlier this week, top artificial intelligence executives including OpenAI CEO Sam Altman joined 350 others in signing an open letter which warned of the "risk of extinction from AI".

The experts and academics said policymakers should see the risks posed by AI as similar to pandemics or nuclear war.

Mr Coveney said regulating this emerging technology will be a significant challenge.

"When you have AI that can effectively replicate people's voices, people's faces, they can essentially write articles and mirror how any individual journalist might write an article, you have a very, very powerful tool that I think can be a force for positive change, but can also be a rogue actor in people's lives. So we have to think carefully and we are very much part of this conversation at a European level."

He said the EU will be the first region in the world to attempt to regulate AI, but its response won't be perfect and will have to "evolve and change as the threats evolve and change".

Mr Coveney dismissed suggestions that a hike in corporation taxes levied on large multinationals to 15% from next year will turn foreign direct investment companies away, but suggested supporting research, development and innovation through tax credits will be explored.