Smith spoke in the BBC's Big Boss Interview, published on 11 October 2026. He described AI as both a "tool and a weapon" and said it needs regulating urgently: "Let's get started today."
His three concrete asks are specific. First, "emergency brakes", often called kill switches, so that firms can pause or slow an AI system that gets out of control. Second, a legal requirement to write incident reports and to tell a victim if a rogue agent breaches their system. Third, a rule on when outside evaluators must sign off on an AI product before release. He suggested that independent government evaluators should vet new AI technology.
The BBC puts these remarks next to the White House meeting at the end of September, where leaders of OpenAI, Anthropic, Nvidia, SpaceX, Meta and Google signed what it describes as a "morally binding" document. Under it the companies agreed to work with independent auditors to check that their systems work as intended and do not "hack or access technical systems in unintended ways". Smith said Microsoft is "happy to sign it" and called it "a good step, a necessary step", but not sufficient.
His reasoning for why a voluntary scheme falls short is short: "the good companies will do what you want", and "it's the companies that are not as responsible that you need to worry about."
Why the UK? Smith named the UK's AI Security Institute, launched under former prime minister Rishi Sunak as the AI Safety Institute, and said most people in the tech sector would name the UK as the leader in that technical capability. He also argued that Washington looks at London differently from Brussels, which in his view makes UK-written standards easier for the US to accept.
The BBC adds that the bosses of US-based AI developers Anthropic, OpenAI and Google DeepMind have backed the idea of slowing AI development, and that President Trump has pushed against that and has repeatedly said that "whoever wins AI, wins".
This report covers Smith's statements only. No draft law, UK government response or US response was part of the source.