Chancellor's tech investment plan praised by industry leaders

The Chancellor's latest speech has generated responses from technology leaders regarding the investment in the UK's technology sector and its implications.

Kyle Hill, Chief Technology Officer at ANS, expressed optimism about the UK's direction in advancing artificial intelligence and innovative technologies.

"The UK has long been an innovative country, so it's fantastic to see the Chancellor's announcement today make strong strides in spotlighting how the UK will drive forward AI and innovative technology advancements as part of its growth strategy," Hill stated.

Hill highlighted the role of the newly announced Regulatory Innovation Office, emphasising its responsibility to ensure AI is developed and adopted responsibly. He noted, "The Regulatory Innovation Office will need to play a vital role in ensuring AI is developed and implemented responsibly, while not hindering innovation for businesses in all sectors."

The UK's Modern Industrial Strategy was also a point of interest. Hill remarked, "The Modern Industrial Strategy will foster the development of digital infrastructure, supporting the growth of key sectors like digital and technologies."

"Being AI ready will be the key to realising economic growth for the UK." He added about the practical implications of AI: "AI is no longer a future-gazing buzzword. It is tangible, and it can drive real benefits."

He also stressed the importance of establishing safeguards, stating, "But with innovative technology now in reach, both public and private sector organisations must immediately create guardrails that will provide the foundation for the success of implementation."

Ruth Kennedy, Chief Executive Officer of TalkTalk Business, focused on Manchester's growing role as a technological hub.

"Manchester has already firmly established its place as an epicentre for tech development and innovation."

"Now, it's time to look at how this powerful hub of thinking can help the Northern tech ecosystem flourish and become one of the most sought-after, inclusive locations for digital skills, talent, and discovery on the world stage," she said.

She pointed out the need for adaptability in the face of emerging technologies such as AI. Kennedy urged regional businesses to stay responsive, saying, "As cutting-edge technologies like AI develop, businesses in the region need to be prepared to adapt and embrace these steps forward to avoid getting left behind."

According to Kennedy, enhancing the area's tech ecosystem offers a chance to cultivate future talent, stating, "Manchester's tech ecosystem also now has a unique opportunity to nurture the next generation of professionals and solidify the region as a thriving hub of innovation."

Connectivity, another theme in the Chancellor's speech, was welcomed by Kennedy. "Connectivity across the North was another welcome focus on Reeve's growth plans. Enhanced connectivity will not only empower businesses but also improve access to education, healthcare, and other essential services, thereby improving residents' quality of life," she said.