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DIGITAL AND TECHNOLOGIES - In this Strategy, the government says it will partner with industry to implement this Plan, including through the Quantum Strategic Advisory Board, AI Energy Council and Cyber Growth Partnership. - Digital and technology sectors are among the fastest-growing parts of the UK economy, with these technologies expected to contribute to around 50% of future GDP growth. - The Industrial Strategy highlights key focus areas and industries within this sector: AI, engineering biology, advanced connectivity technologies (ACTs), quantum technologies, semiconductors and cyber security. - Progress in these fields is transforming industries, influencing how people live and work and contributing to global competition in economic and security fields. - £670m is allocated to support the development of quantum computing in the UK, creating high-value jobs and skills. - Up to £500m will establish a new Sovereign AI Unit to enhance the UK’s capabilities in AI, supporting innovation that can help local businesses grow and compete internationally. We know through our engagement with businesses that the need for comprehensive understanding and skills in navigating AI is crucial to business growth and development. We thus welcome news that the government is committed to further enhancing AI capabilities. - New AI Growth Zones have been announced, which aim to encourage regional research and innovation. While no detail has been provided on where these zones would be, we will closely monitor what this will mean for our North East businesses.
- Research and development funding is planned to increase to £22.6bn by 2029/30, helping local businesses access resources to scale and innovate.
THE UK'S MODERN INDUSTRIAL STRATEGY
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