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The second panel, which was titled From Innovation to Impact, focused on the adoption of smart technologies across sectors.

Panelists addressed issues including underfunded innovations, regulatory bottlenecks, and the ethical responsibilities that come with deploying AI in public-facing systems.

Laurence Kemball-Cook, founder and CEO of Pavegen, highlighted a key challenge in developing smart technology, noting: "The short-term challenge is money, mainly due to lack of confidence, but, ultimately, it comes down to mindset — particularly in Europe."

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