UKTN’s Post

What will a new government mean for the UK tech sector? The last year has been a tricky time for many in tech 😞 Although no votes have been cast it's looking likely that Labour will form a government on Friday. If they do, what can we expect? 1. Some Certainty? - A stable political environment typically boosts investor confidence, so a new government with a clear majority should be good news 2. The new government needs to grow the economy (many of Labours spending plans rely on them doing so), so they'll be looking to boost innovation and promote startup funding. There may even be tax breaks and more grants to try and catalyse investment and growth 3. Sector specific opportunities - Green / sustainability tech, Healthcare tech, Education tech, should all benefit going by Labours manifesto. AI will continue to thrive. 4. R&D - we may well see increases in research grants and initiatives to promote university and industry collaboration What do you think? What have I missed?

Peter Kyle, Labour's Shadow Secretary of State for Science, Innovation and Technology, has just been on stage at London Tech Week Day 3- the only MP to grace the stage during the election. He outlined Labour's ambition for tech should they come into power announcing new policies to “supercharge” the UK tech sector. Key highlights are: 📊 A Labour government would make it easier for Big Tech groups to build critical infrastructure such as data centres in Britain as part of a push to boost economic growth 💷 Reform of the procurement process to make it easier for UK start-ups to bid for state contracts. 🔬 A “national data library” (with ministerial responsibility) giving scientists’ and academics’ access to good quality public sector data safely and securely, in pursuit of innovations that improve people's lives. 📋 A transformation of how citizens interact with the British state so it becomes more personalised, and less "paper shuffling", more online and less "on-hold" and less time consuming 💻 DSIT will become the digital centre for government - a resource for other govts departments and responsible for delivering common platforms. It will also become responsible for boosting adoption of innovation including AI across the economy. The Financial Times covered some of the key policies here: https://lnkd.in/eGx7Xvcn #LondonTechWeek #LTW2024 #Revere #Tech

🤖 😑 £1.1bn to upskill the UK for future tech roles is too little too late ... This is the title of my first column for UKTN (thanks Robert Scammell). Long considered the “sick man” of the G7, the UK is also one of the least willing to embrace artificial intelligence in the workplace, new Axios research shows. Productivity and technology go hand in metal glove in the digital age. Still, there remains a disconnect in the UK, and this latest token is far too little (consider total public spending on education was £116bn in 2022-23), far too late. How can young Britons and businesses hope to catch up? There may be a cruel irony here. Have Rishi Sunak’s attempts to seal some legacy as prime minister by championing AI safety spooked business leaders and their workers into paralysis? As automation and AI-powered tools gain prominence, businesses must prioritise identifying and developing the skills needed for the future. I go into more detail in the piece, which you can read here: https://lnkd.in/eHg5S_UZ What do you think about this situation? #skills #artificialintelligence

The rate of new UK tech companies is slowing. Great to see Jess Jones profile our RSM UK research in City AM today. This is the first time we have seen a stagnation of new Tech incorporations. It is possible political uncertainty, high costs of borrowing and lower levels of investment has blunted growth in UK Tech. Department for Science, Innovation and Technology spend in Tech was cut last week, reported by Zoe Kleinman / BBC News. Whilst on one hand the new government is grappling with a £22bn budget shortfall, on the other, it can’t afford to take a strong tech sector, that contributes around £150bn a year to the UK economy for granted. There is an opportunity for a renewed focus on the bigger picture from government, supporting the sector to develop technology which enables the UK to compete on the global stage. There are many levers to consider including direct funding for deep-Tech innovation, a review of tax incentives and innovations reliefs, streamlining the process for skilled immigration and looking at how education and training can address Tech skills gaps in the workforce. David Blacher | Mandy Girder | Richard Heap | Kirsty Fraser #rsminsights #uktech #tech

Interesting read on the important role that the tech industry will play to achieve an important mission, economic growth🌳 From Digital Transformation to Driving Innovation and Competitiveness, to Enhancing Productivity and Efficiency, to Fostering a Tech-Driven Ecosystem, this article explains why technology is not just an enabler but a driving force behind the Labour Government's economic growth agenda. ... and yes, I know it can be risky and controversial posting anything related to politics however I felt this article was important to share from a positive front. Take a read: https://lnkd.in/eQ5Ye7yC

We've all seen the news by now 🔴🔴🔴 ➡️ So, what can the recent #Labour win mean for the UK tech industry? 🌱 Tech-Focused Reforms and Investment: Labour’s manifesto includes significant tech-focused policies, such as reforms to planning acts for data centres, £1.5bn investment in gigafactories, £1bn in carbon capture technologies, and £500mn for green hydrogen manufacturers. These measures aim to boost digital infrastructure and the green energy sector. 📈 Enhanced Digital Governance and Regulation: Labour plans to transform the DSIT into a “Digital Centre for Government” with a stronger economic and delivery role. They will establish a Regulatory Innovation Office to update regulations, speed up approvals, and enforce AI regulations. 💡 Support for R&D and Innovation: Labour is committed to placing R&D funding on a 10-year cycle and simplifying government procurement to foster innovation. They will collaborate with startups and university spinouts to ensure they have the capital to scale. ⚡Digital Transformation in Public Services: Labour aims to leverage AI to improve NHS services, transform the NHS App, and digitize children’s health records. A National Data Library will be created to enhance data-driven public services and improve regulatory approvals for new medical technologies. ⚙️ Skills and Inclusion Initiatives: Labour will reform the Apprenticeships Levy into a Growth and Skills Levy and modernise the curriculum. They will address digital exclusion by donating old government IT equipment to low-income individuals and work with tech firms to combat online fraud and enhance online safety. #GeneralElection2024 #KeirStarmer #Tech

What will a Labour government mean for the UK tech sector? With Labour achieving a landslide result in the recent UK election, what will this mean for the future of the UK’s tech sector? Voices from around the industry have begun discussing. Technology is not at the forefront of many of the Labour policies in its manifesto, but nonetheless, the party did actually include many mentions of the phrases technology and innovation, suggesting that the party will potentially be making moves to improve public services, increase the nations productivity, and rebuild the economy by utilising technology such as AI and quantum. Read more 👉 https://bit.ly/4cvpyxY #ElectronicSpecifier #Engineering #Tech #Electronics #Government #Labour

💡 Brilliant insights from techUK's CEO Julian David on the first 30 days of the new Labour Government and its approach to tech. So far, the tech community has responded positively, with many leaders expressing optimism. Read more about Labour's tech initiatives and their potential impact in the full article from UK Tech News. #UKTechNews #Innovation #UKTech #LabourGovernment 

A New Day for UK Tech Under Labour! Last week marked a historic moment as the British Labour Party secured its first government in over a decade. With this new dawn, significant changes are anticipated in the realm of tech policy. Peter Kyle, continuing his role as Tech Secretary, promises a proactive approach, positioning the Department for Science, Innovation and Technology (DSIT) at the core of these advancements. This renewed focus has already attracted positive sentiments from multinationals, viewing the UK as a safer investment destination. Labour's ambitious plans include the introduction of an artificial intelligence bill, aiming to regulate the most advanced forms of technology. The AI Safety Institute, initiated under former Prime Minister Rishi Sunak, is set to receive enhanced support and investment to safeguard AI advancements. Additionally, there's a strong push from the tech sector to revive the data protection reform bill, with new ministers like Maggie Jones and Chris Bryant bringing fresh perspectives. Labour's tech vision doesn't stop there. Promises include establishing a Regulatory Innovation Office to streamline tech-regulator interactions, initiating planning reforms, and boosting R&D funding. These initiatives, along with Labour's commitment to creating a 'digital centre', underscore a transformative era for UK tech. Stay tuned, engage, and share your thoughts on these exciting developments! #UKTech #LabourGovernment #Innovation

A great InnovationAus.com interview here with the Tech Council of Australia CEO Damian Kassabgi in the wake of the Council's flagship Parliamentary Innovative Tech Showcase in Canberra last week. In it, Kassabgi renewed the Council's commitment to growing tech skills within the Australian workforce. The local tech sector is booming. As the article points out, it's a "high-growth industry, creating fast-growing numbers of high-paying jobs and high-value products." James Riley, adds that, "Skills have been the central, public-facing policy agenda of the Tech Council since it was established three years ago under founding CEO Kate Pounder, and this remains the focus under Damian Kassabgi. Which of course makes sense. You don’t have a competitive tech sector without a skilled and creative workforce. Building product, building new industries, building wealth for the economy. It’s a people business." We're chuffed to be mentioned in this article alongside some of the biggest names in Australian tech. Innovation continues, and whether it's payments, AI, cleantech, or anything in between, the tech sector is ripe with opportunity. If you're looking for an exciting new role in a booming sector, Zepto has a range of open roles available across the business > https://lnkd.in/ggJib9R4 #TechCouncilOfAustralia #RealTimePayments #TechInnovation