The third annual William Fry AI Summit took place in Dublin on Thursday 14 May 2026 with the theme "AI is Changing Everything – Conversations with Leaders at the Cutting Edge". The agenda featured discussions about AI regulation and governance, strategic and commercial considerations around AI and how the geopolitical landscape is impacting implementation. The Institute's Head of Thought Leadership Michael Diviney attended and shares some takeaways with members.
In summing up the AI Summit hosted by William Fry in Dublin on Thursday, Leo Moore, partner and head of technology at the law firm, identified trust as the main theme to emerge from excellent and far-ranging panel discussions:
- Trust in how AI systems are built
- Trust in how these systems are used, and
- Trust in their governance, oversight and safety.
At a full-house event, we heard from expert panelists representing business, government and regulators including: Microsoft, Diageo, Google, the Central Bank of Ireland, IBM, the Data Protection Commission, Commisiún na Meán, the Department of Enterprise, Tourism and Employment (DETE), Mediahuis Ireland, Teneo, Amazon Web Services, Bank of Ireland, as well as special guests EU Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection, Michael McGrath, Minister of State at DETE, Niamh Smyth, TD, and Chair of the Oireachtas Committee on Artificial Intelligence, Malcolm Byrne, TD.
Here are some of my key takeaways from discussions brimming with ideas and a balanced sense of optimism, for Irish businesses that adopt AI correctly, and for the roles of the EU and Ireland in a global AI economy.
Clear, consistent regulation
As clarified by Commissioner McGrath, Deputy Byrne and Jean Carberry of DETE, the EU and the Irish Government want to smooth out the differences and ‘frictions’ between laws governing digital technology and services, for example in aligning the EU AI Act with the GDPR. The aim is to simplify compliance for business, and for regulation to enable not hinder innovation. It is crucial for the competitiveness of the EU that there is a single, consistent and accessible ‘regulatory playbook’.
Commissioner McGrath highlighted the new harmonised ‘EU Inc’ means of company formation under the 28th Regime as a means of supporting digital start-ups and attracting and retaining talent and capital investment.
Dale Sunderland, Commissioner for Data Protection, encouraged businesses to approach compliance with the EU AI Act (if applicable) as an extension of their existing processes for compliance with related legislation, particularly the GDPR.
For the boardroom
The messages for boards and C-suite leadership include:
- Return on investment (ROI) from AI has become the board-level issue.
- The board should take the lead with AI and be seen to support and use it. If the board is silent about AI, the organisation will be hesitant.
- The composition of boards and leadership teams will be marked by AI knowledge and ROI.
- The key formula for successful AI adoption is: Governance + Commercial Readiness + Operational Discipline
- Good governance (safety) is a necessary strategic condition for AI ROI. Clear purpose, policies and ethical frameworks are vital.
- Doing nothing about AI is not an option. Avoid the “somebody needs to do something about this” mindset.
- AI is a huge leadership opportunity for boards and senior management. Be bold, don’t let perfect get in the way of good, but also be safe – this is a powerful technology.
For the shop floor
For the organisation, its work and people:
- AI champions are invaluable and should be identified and empowered to influence and teach colleagues in best practice. “Back these people in your business and you will win.”
- Optimise AI investment by (1) getting the data right (the fuel of AI); (2) target common workflows across the business and redesign them for AI: (3) only then buy the right technology.
- Monitor and measure success, or otherwise, with KPIs like ROI, or NPS (net promoter scores among staff). Is the AI investment delivering what we planned?
- Establish an AI ‘Centre of Excellence’ with your AI champions to turn innovation and early adopter expertise into shared knowledge and workflow assets.
And back to trust
In his keynote address, Commissioner McGrath emphasised that trust is a highly valuable asset in a global economy digital economy, and that the EU has a competitive advantage in building networks of trust through its rights-based, human-focused regulation. The EU is a global rule-setter and influencer with best-in-class legislation like the GDPR. The challenge is to ensure there is a balance between legal and ethical concerns and competitive possibilities, that regulation is not the goal but the enabler. For the AI revolution, Ireland has a unique opportunity to be a bridge between cultures and economies balanced by regulation and driven by innovation.
- Michael Diviney is Executive Head of Thought Leadership at Chartered Accountants Ireland and co-author of a Institute position paper, An Empowered Profession: AI and the Future of Accountancy, which is being launched at a Chartered Roundtable event on 20 May, with Malcolm Byrne TD, Chair of the Oireachtas Committee on AI, hosted by Institute CEO, Rosemary Keogh. Readers can register for the roundtable here.
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