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Chancellor sets out ambitions to make Britain “the world’s next Silicon Valley”

Berenice Baker, Editor, Enter Quantum

January 27, 2023

1 Min Read
The HM Treasury sign carved into the white external wall of its London office.
Quantum computing is one of the technologies the U.K. Government is relying on to boost the economy.Getty

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.”

About the Author(s)

Berenice Baker

Editor, Enter Quantum

Berenice is the editor of Enter Quantum, the companion website and exclusive content outlet for The Quantum Computing Summit. Enter Quantum informs quantum computing decision-makers and solutions creators with timely information, business applications and best practice to enable them to adopt the most effective quantum computing solution for their businesses. Berenice has a background in IT and 16 years’ experience as a technology journalist.

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