As the UK gears up for its general election, industry leaders are weighing in on the potential impact on technology and AI regulation. With economic challenges at the forefront of political debates, experts argue that the next government must prioritize technological innovation and efficiency to drive growth and maintain the UKโs competitive edge.
Rupal Karia, Country Leader UK&I at Celonis, emphasizes the need for immediate action to address inefficiencies in both the private and public sectors.
โThe next government needs to channel a more immediate focus on removing inefficiencies within UK businesses, which both the private and public sector are being weighed down by,โ Karia states. Karia advocates for the use of process intelligence to provide โdata-based methods of generating positive impact at the top, the bottom, and the green line.โ
While political parties focus on long-term strategies such as infrastructure investments and industrial policies, Karia suggests that leveraging technology for efficiency gains could yield more immediate results.
โDelivering fast growth is tough, but in the meantime, businesses can become leaner and more agile, gaining maximum value within their current processes,โ Karia explains. James Hall, VP & Country Manager, UK&I at Snowflake, predicts a significant focus on AI investment and regulation in the next government.
He anticipates the appointment of chief AI officers across government departments to ensure AI aligns with manifesto priorities. Furthermore, Hall also emphasizes the importance of a robust data strategy, stating, โA foundational data strategy with governance at its core will help meet AI goals.โ
Hall proposes several initiatives to boost AI innovation and data utilisation:
- An AI fund to promote public-private partnerships.
- Use of synthetic data to commercialize assets globally while maintaining privacy.
- Industry-specific AI regulations, particularly for sectors like healthcare and pharmaceuticals.
- Stronger agreements on medical data usage in the pharmaceutical industry.
- A dedicated office to oversee data and AI initiatives, ensuring diverse voices are heard in policymaking.
On the topic of AI regulation, Hall suggests a nuanced approach: โIt would be beneficial to establish industry-specific rules, with particular attention paid to sectors like healthcare and pharmaceuticals and their unique needs.โ
Both experts agree that embracing AI and data-driven technologies is crucial for the UKโs future economic success.
โThese steps will be crucial for a new government to support data-driven industries and ensure they can capitalize on AI, thus positioning the UK as a global innovation powerhouse while ensuring sustainable growth and protecting national interests,โ Hall concludes.
As the election approaches, it remains to be seen how political parties will address these technological challenges and opportunities in their manifestos. The outcome could significantly shape the UKโs approach to AI regulation and its position in the global tech landscape.