The announcements made by the chancellor of the exchequer in his Autumn Statement today included artificial intelligence ( AI ) and a UK-based quantum computer by 2035 to support innovation.
The government is looking into the use of AI and another cutting-edge technologies, including quantum, in the public sector in addition to outlining financial priorities and the major tax cuts that have been announced. These are included in a strategy to encourage innovation in the UK that also includes tax breaks for research and development.
According to the chancellor, Jeremy Hunt,” The UK hosts many of the top universities in the world, and the government offers the most generous support for business R&, D]research and development [in the OECD]Organisation for Economic Co-operation and Development ] as a share of GDP through tax relief and public investment.”
The government unveiled an Artificial incubator called i. AI earlier this week. It consists of” an elite team of technical experts at the heart of government,” as the chancellor put it. This team’s mission is to assist departments in maximizing the potential of AI to enhance lives and the provision of public services.
In order to help the UK become what the government refers to as an” AI powerhouse,” the chancellor has now announced plans to invest £500 million in ensuring that universities, scientists, and startups have access to the computing power they require.
Hunt stated in the Autumn Statement that the National Quantum Computing Centre is assisting business and government in looking into the potential uses of quantum computing. He added that the government has also established a catalyst fund to bring up government agencies and quantum innovators to find and create near- and long-term applications.
By publishing an ambitious set of quantum missions, including a mission to have available, UK-based quantum computers capable of running one trillion operations by 2035, the government is” building on the £2.5 billion 10-year National Quantum Strategy.” According to him, another missions concentrate on classical networks, medical applications, navigation, and infrastructure sensors.
According to an update to the National Quantum Strategy, which was released today, the government wants to scale up the deployment of the most sophisticated quantum network in the UK by 2035. This will pave the way for the future quantum internet.
Plans to implement quantum sensing applications in the NHS by 2030 are even part of the strategy.
Next-generation technologies, according to Accenture managing director Maynard Williams, “represent a substantial opportunity to showcase the UK as an international leader in science and technology, and business leaders are unanimously around its potential,” when discussing the government’s approach to innovation.
Indeed, according to recent Accenture research, the vast majority of UK executives (96 % ) concur that next-generation computing will play a significant role in industry advancements over the coming ten years. Less than half ( 45 % ) of business leaders anticipate significantly increasing the resources they devote to such technologies as they currently are, despite the fact that there is widespread agreement on the technology’s capacity.
” Next-generation technologies, like quantum computing, are not only sophisticated and difficult, but also call for highly sought-after skills. Paying attention to skills as well as infrastructure will be essential to closing the gap between ambition and action. Supercomputing will undoubtedly take some time to develop, but it is obvious that it will play a significant part in assisting businesses in successfully transforming modeling and reducing feedback loops, accelerating things like material and energy innovation.
Yet, some commentators worry that the UK may be promoting science and technology innovation too lightly.
Rosalind Gill, head of policy and engagement at the National Centre for Universities and Business (NCUB), said:” Lack of continuous focus on specific financial strengths is a barrier to growth.” The UK cannot lead the world in every field of clinical development.
Therefore, the UK must make and commit to decisions about the areas where it does want to establish a world-leading status in order to set itself apart from the main international trading blocs of the US, Europe, and China. Prioritizing strengths through a series of strategies has not been successful or long-lasting. The UK requires a comprehensive, long-term economic strategy that is truly shaped by businesses, universities, and policymakers.
Additionally, there is a chance that the chancellor’s proposed financial initiatives for cutting-edge technology wo n’t benefit smaller businesses. Ian West, the head of technology at KPMG, claimed that smaller businesses frequently found it difficult to afford emerging technologies.
Large organizations with more resources will accelerate their market lead if businesses in the UK are not likewise able to use cutting-edge technologies, potentially leading to modern inequality, he said.
