The UK Government Launches a £370 Million Plan to Transform the Country Into a Leading ‘AI&Tech Superpower’
To improve your local-language experience, sometimes we employ an auto-translation plugin. Please note auto-translation may not be accurate, so read original article for precise information.
The UK’s Prime Minister and Technology Secretary have announced the UK’s new Science and Technology Framework, a plan to become a tech superpower by 2030.
The plan includes measures to boost investment in innovation, bring world’s best talent to the UK, and seize new technologies like AI.
The UK government has recently unveiled its newest Science and Technology Framework that discussed UK’s plan to become “a science and technology superpower by 2030.” This plan is dedicated to providing world-class digital infrastructure, unlocking the value of data to create growth, innovation, and societal benefits, and harnessing digital transformation to build a more inclusive, competitive, and innovative digital economy.
Innovation, science, and technology are the driving forces of economic growth and productivity, and the UK seems to realize it. The Prime Minister and Technology Secretary have announced the government’s plan to ensure the UK’s place as a science and technology superpower, according to AI News. An investment of more than £370 million will support the research and new innovative technologies.
The Science and Technology Framework focuses on 10 issues: identifying critical technologies, signalling the UK’s strengths and ambitions, investment in R&D, talent and skills, financing innovative science and technology companies, procurement, international opportunities, access to physical and digital infrastructure regulation and standards, and innovative public sector.
|Read more: 5 Reasons to Use AI-Powered Bing Over Google|
“Trailblazing science and innovation have been in our DNA for decades, but in an increasingly competitive world, we can only stay ahead with focus, dynamism and leadership,” Rishi Sunak, the country’s prime minister, said. “That’s why we’re setting out 10 key actions under a bold new plan to cement our place as a global science and technology superpower by 2030 – from pursuing transformational technologies like AI and supercomputing to attracting top talent and ensuring they have the tools they need to succeed.”
The initial investments planned that are encompassed in the Framework include:
- 250 million investment in three technologies: AI, quantum technologies, and engineering biology.
- Up to 50 million co-investment with private sector and philantropists in science. The government is already in talks with Schmidt Futures, a philanthropic initiative of Eric and Wendy Schmidt, regarding additional support of up to $20 million.
- £50 million uplift to World Class Labs funding will go towards science labs and universities to upgrade facilities and obtain the best equipment, opening up new avenues for economic growth and job creation.
- Additional £10 million will go towards investments in UK innovation and science seed funds. The fund now totals £50 million and its goal is to boost the country’s tech and science startups to become the next big thing.
- £9 million in government funding will go towards establishing a quantum computing research centre by PsiQuantum in Daresbury, England.
Healthcare, energy-saving, and also economic development in the UK, as well as creating jobs and prosperity. Nationally, the British government and private sector partners are supporting bid to become a scientific and technological superpower.
Michelle Donelan, the country’s science, innovation, and technology secretary, said: “Innovation and technology are our future. They hold the keys to everything from raising productivity and wages, to transforming healthcare, reducing energy prices and ultimately creating jobs and economic growth in the UK, providing the financial firepower allowing us to spend more on public services.”
The UK already has a superb skills and expertise base as well as funds to ensure researchers have access to the best physical and digital infrastructure for R&D. This only attracts more talent, investment and discoveries, creating a pro-innovation culture throughout government institutions to improve the way our public services work In the immediate future, £500 million in new and existing funding will be allocated to help ensure the UK has the skills required.
The Government plans to implement ten strategies to strengthen the UK’s position in science and technology by innovating and developing new techniques. The strategies will help the industry to innovate and provide more high-paying jobs in the future, further expanding the economy. The Science and Technology Framework is set to highlight the UK’s strengths and ambitions at home and abroad, to increase the quantity of private and public investment in research and development for economic growth and efficiency, to increase the quantity of investment in basic research for economic growth and efficiency, and to attract talent, investors, and global influence.
More than 59% of the future labor productivity growth is expected to come from the adoption of technological innovations and the remainder from ‘pushing the frontier’ of technological research. It is believed that each £1 of public R&D investment leverages £2 of private R&D investment in the long term, making governmental investments in research more crucial than ever.
The announcements expand on existing government efforts to support science and technology. Prior to announcing Science and Technology Framework, the UK already established its Digital Strategy. It has also established the Advanced Research and Invention Agency to fund high-risk, high-reward research in addition to investing £100 million in a Glasgow, Greater Manchester, and the West Midlands-located pilots that bring together national and small companies to accelerate their growth into world-class centers of innovation.
The UK’s Horizon Europe program has been extended until 30 June 2023 in addition to long-term funding.
Read more related articles:
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.