Prominent tech leaders in the UK are calling for the upcoming government to prioritize the development of artificial intelligence skills and growth-oriented fiscal measures.
What Happened: The UK is gearing up for its general election on Jul. 4, and the tech industry is making its demands clear. Tech executives and entrepreneurs are urging the two major political parties to focus on economic growth, a regulatory environment conducive to tech innovation, and a long-term vision to solidify the UK's global position, CNBC reported.
Regardless of the election outcome, the tech community expects the next government to prioritize the interests of high-growth tech businesses. A key demand is to foster innovation in AI and equip citizens with AI-centric skills across generations.
Zahra Bahrololoumi, CEO of Salesforce (NYSE: CRM) U.K. and Ireland, emphasized the need for the UK to be prepared for the rapid advancement of AI. "Innovation is heading very quickly towards autonomous AI. We need to have the skills in this country ... to be able to adopt and use it in a responsible way, with the right controls and protocols," he said.
Matthew Houlihan, senior director of government and corporate affairs for U.K. and Europe at Cisco (NASDAQ: CSCO), also stressed the importance of the UK becoming a leader in innovation and emerging technologies like AI and quantum computing.
In a letter released last month, numerous business executives, entrepreneurs, and investors voiced their backing for Labour in the upcoming election. "We, as leaders and investors in British business, believe it is time for a change," they expressed in the letter.
Why It Matters: The UK's tech industry has been making significant strides in AI and technology. In May, Microsoft signed a $10 million deal with Informa, a UK-based publishing and exhibitions company, to bolster its AI capabilities. This deal aimed to broaden the application of AI within Informa's operations, highlighting the unique value of the company's intellectual property.
More recently, Meta Platforms (NASDAQ: META) announced plans to use public social media content from Europe to train its generative AI models. This decision marked a significant shift for the company, aligning its data usage policies in Europe with those in other parts of the world.
These developments underscore the growing importance of AI in the UK and the need for a government that prioritizes AI skills and growth. The UK has also been at the forefront of AI regulation and safety, signing a pioneering agreement with the U.S. to address the potential risks of emerging AI technology.
However, despite these advancements, a recent report highlighted growing unease among workers about using AI in the workplace. The "2024 State of AI at Work" report indicated that many workers fear AI could replace human roles and are concerned about the potential stigma of using AI tools.