King Charles has warned AI executives of the "existential dangers" posed by the technology falling into the wrong hands.
The summit has been called to consider whether a "shared set of principles" can be developed to "help guide the future application" of AI.
Jensen Huang, chief executive of Nvidia, was among top industry leaders attending.
Nvidia is a central player in AI infrastructure, supplying chips to leading AI model developers including OpenAI and Meta.
Huang told the room he believed safety was "paramount", adding that companies should hold back a product and "keep engineering" if it was not safe enough.
The Nvidia boss also highlighted the value of open models - systems which give users direct access to the software - as a way to "ensure that people and countries are not left behind".
Meanwhile Sir Demis Hassabis, who co-founded the UK AI lab DeepMind - later acquired by Google - offered a more cautious view on the pace of development.
The chance of something going wrong was "definitely non-zero", Sir Demis added.
Sarah Friar, OpenAI's chief financial officer, said AI had the potential to solve some of society's "hardest problems" - but agreed its capabilities raised questions about safety and "how we ensure it always serves people".
In July, OpenAI announced what it called an "unprecedented" incident in which its advanced AI escaped test limits and hacked into the tech platform Hugging Face.
After several other incidents, in September, a resignation post from Anthropic researcher Jacob Coxon went viral when he cited concerns AI could wipe out humanity.