At London Tech Week 2023, Harjinder Kang– UK’s Trade Commissioner for South Asia and British Deputy High Commissioner for Western India– spoke about UK’s aim of changing into the worldwide tech capital.
The UK needs tech startups the world over emigrate to the UK because it needs to change into the “Unicorn Kingdom”.
At a time when most companies are speaking about leveraging synthetic intelligence( AI) to develop themselves, the United Kingdom is taking a look at using the AI wave to spice up their economic system. The aim is evident: make the UK the primary vacation spot for tech corporations and expertise. And not simply that, it additionally needs startups the world over engaged on AI, quantum computing and different newer applied sciences emigrate to the UK because it needs to change into the “Unicorn Kingdom”.
On the sidelines of the London Tech Week 2023, UK’s Trade Commissioner for South Asia and British Deputy High Commissioner for Western India– Harjinder Kang in an interview with Debashis Sarkar, Editor– Technology, News18 stated, “The UK is now focusing on becoming the centre of gravity when it comes to development and regulations around Artificial Intelligence..Prime Minister Sunak is very clear on this that he wants UK to become pivotal in AI.”
WATCH VIDEO: UK Aims To Be The Global AI Capital; Wants To Work Together With India Startups
Having stated that, Kang additionally careworn that it’s simply not about AI for the UK. “The UK is also very much at the forefront of other technologies as well considering green technology, and renewable energy. The UK was even a key player in using technology to help the world during the pandemic,” stated Kang.
“I think the two countries– India and the UK can work together in a collaborative manner to solve some of the world’s problems. As the new trade commissioner for South Asia, I would be helping many companies that I can towards achieving this goal,” added Kang.
Apart from specializing in attracting high expertise to the UK for realising its personal tech ambitions, the UK can also be eager on changing into a hub for laws, particularly round AI. “AI has the power to do amazing things, however, it also has the capabilities to create unintended consequences. It is always in the interest of the entire world, in certain ways, to make sure that these new technologies are used in a proper manner. With AI, we have to make sure that there is no room to abuse. We want to develop AI fast but do so in a responsible manner,” careworn Kang.
At the keynote tackle of the London Tech Week, Prime Minister Rishi Sunak defined why the UK is without doubt one of the finest locations on the earth to begin a tech enterprise. He claimed that within the final decade the UK has created 134 tech unicorns – greater than France & Germany mixed.
He additionally stated that the UK is the “most digitally literate society in the world …with 97 per cent of the population using the internet, and one of the highest average daily minutes of internet use per individual.”
As far as monetary help is anxious, the Prime Minister claimed that the UK has the bottom company tax within the G7. “The 25% corporation tax rate in the UK is the lowest in the G7 and 4th lowest in the G20. This is designed to facilitate more inward investment for businesses, helping them to flourish,” he added.
“We have one of the most generous capital allowances regimes in the OECD. We have introduced full-expensing for qualifying business investments in main plan and machinery for three years – a tax cut worth £27 billion,” stated Prime Minister Sunak.
WATCH VIDEO: UK PM Rishi Sunak Has ‘Good News’ For Techies
The UK can also be stated to be growing its R&D funding by £5 billion, reaching £20 billion per 12 months by 2024/25. “We’re changing how we do things – with a new Advanced Research and Invention Agency focussed on high-risk, high-reward research,” he added.
