• Laurent Descout, CEO at Neo


• 14.06.2023 10:15 am
#tech

The prime minister made his big ambitions for UK tech clear in his opening keynote at London Tech Week. Sunak shared why the UK is a great location for tech businesses and the progress that’s been made to date such as the creation of 134 unicorns in the past decade and the UK being the best place to raise capital in Europe.

AI is an acronym on everyone’s lips at the moment and Sunak of course mentioned the potential of the technology. It was interesting that he did so in the context of AI safety regulation. AI has huge potential but it needs to be harnessed carefully and I’m sure many in the industry will respond positively to the government’s safety-first approach.

While the UK is clearly in a strong position, it still has a bit of work to do to become a science and technology superpower. Reports today show that US business confidence in the UK has dropped and following a dearth of IPO activity, the UK’s future as a tech superpower isn’t guaranteed. 

If the UK government is to achieve its lofty ambitions, it needs to play to its strengths, champion the sector, support startups, increase investment, make it easier to do business in the UK and boost digital skills.