Quantum Technology Tops Agenda for UK Economy

Quantum technology, AI, robotics and biotechnology are among the targets of a new U.K. government drive to boost the economy.

“We stand at the cusp of a new age, facing a technological revolution that will transform the world as deeply as the industrial revolution did in the nineteenth century,” said business secretary Grant Shapps at Bloomberg’s European headquarters in London

“The U.K. has an opportunity to be at the forefront of this revolution, building upon our world-class research infrastructure and open markets to scale up the business titans of the future here in Britain, in everything from AI to quantum, from robotics to biotechnology.”

Shapps’ comment followed a speech by chancellor Jeremy Hunt that set out the Conservative government’s vision for long-term prosperity in the U.K.

Hunt called on businesses to invest in the U.K. to help make it the next Silicon Valley, singling out digital technology, green industries, advanced manufacturing and life sciences as growth sectors that could support a more innovative economy.

He added that chief scientific adviser Sir Patrick Vallance is leading work on how the U.K. should change regulations to better support the safe and fast introduction of new emerging technologies.

He revealed that the opening section of his speech that highlighted technology as one of the U.K.’s major growth sectors had been written by ChatGPT, the AI text generator chatbot launched by OpenAI late last year. 

“If anyone is thinking of starting or investing in an innovation or technology-centered business, I want them to do it in the U.K.,” said Hunt. “I want the world’s tech entrepreneurs, life science innovators and clean energy companies to come to the U.K. because it offers the best possible place to make their vision happen.”