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Leading technology leaders in the UK are calling on the new government to prioritise the development of artificial intelligence and growth-oriented fiscal measures.

What happened: Britain is gearing up for a July 4 general election, and the tech industry is making its demands clear. Tech executives and entrepreneurs are calling on the two major political parties to focus on economic growth, a regulatory environment that encourages technological innovation, and a long-term vision to cement Britain’s global position, CNBC reported.

Regardless of the election outcome, the tech community expects the next administration to put the interests of high-growth technology companies first. A key demand is to encourage innovation in AI and teach citizens AI-centric skills across generations.

Zahra BahrololoumiChairman of the Board of Foreclosure Britain and Ireland stressed that the UK must be prepared for the rapid advancement of AI. “Innovation is moving very quickly towards autonomous AI. We need to have the skills in this country to be able to adopt and use it responsibly, with the right controls and protocols,” he said.

Matthew HoulihanSenior Director of Government and Corporate Affairs for the UK and Europe at Cisco, also stressed the importance of the UK taking a leading role in innovation and new technologies such as AI and quantum computing.

In a letter published last month, numerous business leaders, entrepreneurs and investors spoke out in support of the Labour Party in the upcoming election. “As leaders and investors in the UK economy, we believe it is time for change,” the letter said.

See also: From Nvidia’s stock split, Intel’s revived AI strategy to Tesla’s chip saga: This week in the world of AI

Why it is important: The UK tech industry has made great strides in the areas of AI and technology. In May Microsoft signed a $10 million contract with informationa UK-based publishing and exhibition company, to strengthen its AI capabilities. This deal aimed to expand the application of AI within Informa’s business and highlight the unique value of the company’s intellectual property.

More recently Meta-platforms announced plans to use public social media content from Europe to train its generative AI models. The decision marked a significant shift for the company, which aligned its data usage policies in Europe with those in other parts of the world.

These developments underline the growing importance of AI in the UK and the need for a government that prioritises AI skills and growth. The UK is also leading the way on AI regulation and safety, having signed a groundbreaking agreement with the US to address the potential risks of new AI technology.

Despite these advances, however, a recent report showed that workers are increasingly dissatisfied with the use of AI in the workplace. The 2024 State of AI at Work report indicated that many workers fear AI could replace human roles and are concerned about the potential stigma of using AI tools.

Read more: Elon Musk believes there will one day be more humanoid robots than humanity: From Nvidia’s GR00T project to Tesla’s Optimus, here are the seven most important projects currently underway

Image via Shutterstock

This story was created with Benzinga Neuro and edited by Kaustubh Bagalkote

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