Seoul, May 20: A global summit on artificial intelligence (AI), to be co-hosted by South Korea and Britain this week, will present global AI governance principles to foster innovation, safety and inclusivity, the two nations' leaders said on Monday.

In a joint opinion article, President Yoon Suk Yeol and British Prime Minister Rishi Sunak said the upcoming AI Seoul Summit aims to build on the conversation from the first AI Safety Summit held in England last November to address risks and triumphs of the fast-evolving technology, reports Yonhap news agency.

"When we meet with companies at the AI Seoul Summit, we will ask them to do more to show how they assess and respond to risk within their organisations. We will also take the next steps on shaping the global standards that will avoid a race to the bottom," said the opinion published in South Korea's JoonAng Ilbo and Britain's i-Newspaper.

"The AI Seoul Summit will help to create a vision for AI governance which deals with those gaps, while promoting the fundamental priorities of innovation, safety, and inclusivity," it wrote.

The AI Seoul Summit will kick off on Tuesday with leaders of major countries and global tech firms attending, under the theme of "Building on the AI Safety Summit: towards an innovative and inclusive future."

The gathering will largely come in two sessions, a virtual leaders' summit and a ministerial meeting, followed by an AI Global Forum involving key industry leaders and members of academia.

On the second day, the AI Global Forum will also take place, solely hosted by the South Korean government as proposed by Yoon during his keynote address to the U.N. General Assembly last year to launch a new AI global governance structure.