Professor Michael Mainelli, the Lord Mayor of the City of London, visited the Isle of Man on Wednesday.

As an international ambassador for the UK’s financial and professional services sector, he met with the Chief Minister Alfred Cannan, Treasury Minister Alex Allinson and the Enterprise Minister Tim Johnston.

They were joined by the Chamber of Commerce, as well as other business leaders, for a working lunch event.

A spokesperson from the Isle of Man Government said: ‘The focus of the meeting was on strengthening relationships, and looking at the opportunity for joint ventures that might enhance the offerings of both the Isle of Man and London in areas like technology, insurance and sustainable finance.

‘One of Lord Mayor’s flagship initiatives is the development of ethical frameworks for artificial intelligence. This meant ethical AI was a keen talking point, especially following Digital Isle of Man’s recent launch of their “Activate AI” programme.

‘This programme aims to bring new products and services to help the community understand and adopt evolving AI technology in ways which will benefit businesses, jobs and the wider economy.’

The Chief Minister commented: ‘The City of London is an important and valued partner for the island’s strong financial services industry and we are very pleased for the opportunity to discuss our value to the UK economy and how we can continue to support the British family’s financial services offering.’

Financial services priorities for the UK and the island will be further discussed by the Chief Minister when he attends the Lord Mayor’s Mansion House dinner in London next month.