Rishi Sunak today called on the capital’s tech bosses to put their faith in him as he laid out a fresh vision to make London one of the world’s leading hubs for artificial intelligence.
Speaking at London Tech Week, the Prime Minister said: “I want to make the UK not just the intellectual home but the geographical home of global AI.
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“We are not in the business of resting on our laurels and we get that all of this is moving fast. It means government has to move at that same pace.
“The very pioneers of AI are warning us about the ways these technologies can undermine our values and freedoms through to the most extreme risks. And that’s why leading on AI also means leading on AI safety.
“Do you trust the people in charge to really get what you’re trying to do? With this government, and with me as prime minister, you can.”
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The Prime Minister’s speech marks the latest sign of his efforts to showcase the UK’s credentials as an international tech hub.
It follows a visit to the US by Sunak last week, in which he announced the first global summit on artificial intelligence, in a bid to spearhead a cross-border approach to safety measures and risk monitoring of AI development.
Since the start of the year, the UK government has laid out a raft proposals for tech regulation, including in cryptocurrencies, digital assets and AI technologies.
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Russ Shaw, founding partner of London Tech Week, said of Sunak’s speech: “I’m really pleased with his focus on AI and his ambition to make the UK the best country in the world for tech. I couldn’t have asked for more.”
In an early vote of confidence in the Prime Minister’s efforts, one of the world’s biggest venture capital firms today said it will open its first crypto hub outside the US in London.
Andreessen Horowitz, controlled by billionaire Marc Andreessen, said it planned to make a number of investments in UK-based crypto companies, and unveiled its latest investment, into machine learning business Gensyn. Andreesen Horowitz said its next annual crypto startup school would be hosted in London in 2024.
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Managing partner Chris Dixson said: “We have been working with policymakers and regulators across the globe, and during our discussions it has become clear that the UK government sees the promise of web3, with Prime Minister Rishi Sunak suggesting the UK can become a hub of web3 innovation.
“While there is still work to be done, we believe that the UK is on the right path to becoming a leader in crypto regulation. The UK also has deep pools of talent, world-leading academic institutions, and a strong entrepreneurial culture.”
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Others in the industry have sounded a less optimistic note about the UK’s tech environment.
Paul Taylor, founder of software fintech Thought Machine, said tech firms were “fed up” of delays and a lack of support by the UK’s financial watchdog, while tech giant Microsoft said it experienced “probably the darkest day in our four decades in Britain” after its merger with Activision was blocked by the competition regulator, an outlier among other major regulators internationally which gave the deal the green light.
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