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After a decisive victory at the general election, the Labor Party now enjoys a substantial majority, putting them in a powerful position to influence Britain’s economic and technological future.
As businesses and industries look to the new government for direction, two key voices in the technology sector, Rupal Karia, Country Leader UK&I at Celonis, and James Hall, VP & Country Manager UK&I at Snowflake, have provided crucial insights on the regulatory framework and investments needed to regulate and harness the potential of artificial intelligence (AI) in Britain.
The economic landscape and AI potential
Rupal Karia, Country Leader UK&I at Celonis,
underlines the urgency of tackling inefficiencies in UK businesses to boost growth. “Now that we know the size of the Labor majority and the decisive action it will enable them to take, this government must deliver on the investments in infrastructure, industrial strategies and taxes that have been at the forefront of recent conversations on economic issues. policy,” says Karia. She emphasizes that while these policies may take years to impact the economy, immediate actions to improve efficiency through process intelligence can deliver significant benefits.
Karia advocates using data-driven methods to streamline operations, making companies leaner and more agile. “Achieving rapid growth is difficult, but in the meantime, companies can become leaner, more agile and achieve maximum value within their current processes. This will enable greater efficiency, increase productivity and accelerate digital transformation – all of which will help Labor achieve its economic goals.”
Strategic investments in AI
James Hall, VP & Country Manager, UK&I at Snowflake,
emphasizes the need for technology investments, especially in AI, to improve public services and improve citizens’ lives. “Now that we know that the Labor Party won the election with a substantial majority, it is vital that the new government emphasizes technology investment, especially in AI, which will be key to streamlining services and improving the lives of citizens,” says Hall. He proposes the appointment of Chief AI Officers across all government departments to ensure AI is integrated into the core of public services.
Hall further proposes the creation of an AI fund to promote public-private innovation and the commercialization of data through synthetic data, which mimics real-world information while protecting privacy. This approach offers a dual benefit: unlocking data value and maintaining robust privacy protections.
Regulatory framework for AI
On the regulatory front, Hall recommends sector-specific rules, especially in critical sectors such as healthcare and pharmaceuticals. “For the pharmaceutical industry in particular, more robust agreements on the use of medical data need to be made, with internal investments to manage and protect this data,” he explains. He proposes profit-sharing or IP rights provisions where companies benefit from UK resources, ensuring a fair return on public investment.
Hall is also calling for a dedicated office to oversee AI initiatives, ensuring the involvement of diverse stakeholders in shaping AI and data policy. “These steps will be vital for the new government to support data-driven industries and ensure they can benefit from AI, positioning Britain as a global innovation powerhouse while ensuring sustainable growth and protecting national interests .”
Labour’s victory presents a unique opportunity to shape Britain’s future through strategic investment in AI and robust regulatory frameworks. By tackling inefficiencies in businesses and prioritizing technology investments, the new government can boost economic growth and improve public services. As the Labor Party begins its term, a focus on AI will be crucial in positioning Britain as a leader in the global digital economy.