Speaking at the annual general meeting of Liverpool Chamber, Shevaun Haviland said AI adoption has become a burning question for many business owners and it is now a key policy area for the organisation over the coming years.

She said:

“AI is the juggernaut reshaping our economy. Tasks that might have previously taken months can now take just days or even hours.

“The question for many business owners across the country is around how do they integrate it into their organisation, and we realise that for some it can simply feel like too much to even consider. I would certainly encourage businesses to be excited about what AI can deliver and actually begin to worry if they’re not engaging with it soon.

“Working with partners, we have created the AI Academy. The content is adapted to each business and their particular needs. Feedback from early adopters in Wirral has shown that they are saving between three and five hours per week – when that kind of impact is scaled up at a national level, the potential productivity gains are clear.”

Speaking about the broader economic picture, Haviland said:

“The Chamber sits at the intersection of business, place and government, which makes our network so powerful. Our latest Quarterly Economic Survey told us business confidence remains weak and investment is subdued, with tax the greatest concern. More than half of firms expect to raise prices this year.

“There is no lack of ambition among businesses, but there is a lack of certainty. Many would like to put recent challenging times behind them and crack on, but we are being clear with ministers that without clarity, confidence remains fragile, and confidence dictates growth. Our job is to continue to talk with the government about issues such as the Employment Rights Act and the impact of National Minimum Wage increases.”

The AGM event, held at Liverpool Town Hall, also featured an address by Cllr Liam Robinson, leader of Liverpool City Council.

Cllr Robinson began by thanking Liverpool Chamber for its contribution to the city, saying:

“The intelligence and expertise the Chamber brings is invaluable to the council and businesses across the city. To reach 175 years shows the strength, confidence and resilience of the organisation and we can always be assured that the Chamber and its members will go above and beyond in both good and challenging times.

“There is plenty for us to shout about and look forward to. We are at the heart of the north west’s health and life sciences supercluster, we have clear strengths in advanced manufacturing and a burgeoning creative and digital sector, including AI. Existing specialisms continue to thrive, such as maritime and logistics, with our port an asset of national importance, alongside a world renowned visitor economy, and we want to keep attracting investment to the city.

“As a city, we are proud but never satisfied. Partnerships are always at the heart of what we do and we look forward to continuing to work with the Chamber to achieve our objectives across these areas.”

During the event, it was confirmed that Liverpool Chamber expanded its turnover to £1.8m in the last financial year, its fifth consecutive year of growth. This resulted in £186,000 profit, buoyed by a rise in membership revenues, further strengthening the Chamber’s balance sheet and cash position and representing its best financial outturn for 15 years.

Paul Cherpeau, chief executive of Liverpool Chamber, said:

“While these results are once again very encouraging, the most important aspect is around what this financial stability and growth allows us to invest in our member support over the coming months and years.

“We recognise that this is a challenging time for many organisations, so therefore we must continue to demonstrate our value to members through meaningful impact, whether that’s helping to achieve growth through market access, reducing costs and risk or providing insights and intelligence to help them run their businesses.

“Alongside existing services and support, over the next 12 months we will be launching Navigate, a membership community for creative and tech businesses, and connecting firms with the national AI Academy to boost their knowledge and confidence of emerging technologies, investing in a shared future with our members.

“We were delighted to welcome Liam, Shevaun and our colleagues from BCC to share in our 175th Anniversary celebrations and to showcase the many opportunities that lie ahead for Liverpool Chamber and its members over the coming years.”