Why leaders should be worried about AI: it may not be what you think…

by

Contact: Susie Cuthill, Head of Networks

A network with influence and insight 

A week into the hectic autumn season, senior leaders from across Greater Manchester gathered for an evening of connection, debate and delicious food. Future of GM’s biannual mentor dinner is where the people who support our renowned leadership programmes come together – often meeting face-to-face for the first time – to learn and share ideas beyond their usual circles. 

Our mentors are more than advisers; they are connectors and critical friends. Being part of the Future of GM mentor network means joining a cross-sector group that leads across all aspects of place, from infrastructure, regeneration and housing through planning, design and engagement. 

AI – the promise and the risk 

We were challenged and inspired in equal measure by guest speaker Dr Richard Whittle – researcher, strategist and one of the UK’s most thought-provoking voices on the social and economic impacts of Artificial Intelligence.

While AI is often presented as a mystical force destined to transform our world, he reminded us that its reality is far more straightforward and its risks more immediate. He explained that these systems shouldn’t be mistaken for thinking beings; they are “beautiful” mathematical models that simply predict the next most likely word, image or decision. 

Dr Whittle also pointed out that AI is a set of tools that humans have repeatedly overpromised and underdelivered on. From the 1956 Dartmouth Conference where the term “Artificial Intelligence” was coined (as part of a professional rivalry), to the hype around every new generative AI model like ChatGPT 5, our expectations have often raced ahead of what the technology can do. 

Right now, an estimated US$2 trillion is invested globally not in what AI is, but in what investors hope it will be. When the gap between expectation and reality grows too wide, the risk isn’t just technological, it’s economic. As Dr Whittle warned, “Doing the same things for a bit less money [thanks to AI] doesn’t create growth. It creates stagnation.” 

Dr Whittle was clear that the AI story isn’t all doom or denial, but he argued that we must face its risks honestly. When trillions are poured into technologies that may not deliver, the gap between expectation and reality becomes dangerous, markets get jittery, and investors start to pull back. This results in what economists call a ‘Minsky moment’: the point where markets suddenly realise they’ve overinvested in overvalued assets and confidence collapses, triggering economic instability.  

What this means for leadership 

The question is not whether AI will change our world but how leaders will shape that change responsibly. Introducing AI tools too quickly, without the workforce skills or ethical frameworks to use them well, risks hollowing out capability. 

Dr Whittle challenged us to think beyond productivity gains or cost savings: 

  • What skills are we prepared to lose if AI takes over entry-level tasks? 
  • How will we retain the human judgement needed to oversee automated decisions? 
  • And crucially, where will we reinvest the savings AI creates, so that it drives progress rather than simply reducing headcount? 

These are the leadership questions that are coming to every boardroom, council chamber and strategy session far sooner than many expect. 

Dr Whittle explained that AI itself won’t produce economic growth. What leads to economic growth is the reinvestment of the cost savings brought about by AI. Concerningly, Dr Whittle shared, “Having reviewed many hundreds of AI cases, I am yet to find one that tells me where that cost saving is going to be reinvested.” 

How Future of GM’s network helps 

This is the kind of critical debate senior leaders must be having now, and it’s the kind of conversation we facilitate – from early career to C-suite – at Future of Greater Manchester. 

Our networks and programmes don’t just support the next wave of talent; we offer them rare access to leaders grappling with the real complexities of change, from AI to climate resilience, social housing to transport infrastructure.

Thanks to core partner Hatch for sponsoring this third mentor dinner, and to the team at TNQ for another brilliant meal. You can find write-ups on our first event with Transport for the North Strategy Director Katie Day on the power of evidence & engagement , and the second with GMCA Chief Resilience Officer Kathy Oldham OBE on rethinking crisis response.

We’re actively seeking 2026 Mentor Network sponsors for:

  • two speaker-led dinners, continuing this series
  • two on-site breakfast briefings, to include a project tour or showcase

Contact Susie Cuthill if you’d like to host one or more of these GM leadership catalysts (and invite your team/guests).

 For more on this topic (if you hit any paywalls, email lisa@futureofgreatermanchester.com)