As expected, growth and investment is the underlying message behind the UK Government’s Autumn Budget. When we talk about economic growth, we cannot leave technology out of the equation. We are at an interesting point in time for the UK, where business leaders recognise the great potential of technology as a growth driver leading to impactful business transformation. AI is, and will increasingly be, one of the biggest technological drivers behind economic growth in the UK. In fact, recent research from ServiceNow, has found that while in the UK, AI-powered business transformation is in its early days, British businesses are among Europe’s leaders when it comes to AI optimism and maturity, with 85% of those planning to increase investment in AI in the next year. It is clear that appetite for AI continues to grow- from manufacturing to healthcare, and education. Furthermore, with the government setting a 2% productivity savings target for government departments, AI has the potential to play a significant role here, not only by boosting productivity, but also driving innovation, reducing operational costs, as well as creating new job opportunities. To remain competitive as a country, we must not forget to also invest in education, upskilling initiatives, and partnerships between the public and private sectors, fostering AI innovation to drive transformative change for all. https://lnkd.in/dgTqGKqW #AI #UKBudget
Having used GenAI to review the online Autumn Statement 2024, the only reference to a strategy or investment in Artificial Intelligent is at pt 3.73 -Promising an "AI Opportunities Action Plan" but no dedicated spend commitment. Can't help thinking Rachel Reeves doesn't really see the lost opportunity, nor risk to not investing?
Looking to the future, innovation and transformation require investment in people, technology as well as process. And it will rely on partnetrships that work for good.
Spot on Damien regarding the investment in Education and Upskilling Initiatives... we're proud to support that investment in upskilling through our Next Tech Girls Initiative https://nexttechgirls.com/
Teaching 'Service-Led Business Growth' | Transforming Service Delivery with AI | 35+ Years Leading the Service Revolution | Expert in XaaS & AI-Driven Customer Service & Operational Excellence | Speaker | Exec Coach
1moWhat I always find amazing is the fact that many people, including business leaders, politicians and press, automatically assume the implications around cost increases such as NI increases, must be passed on to their staff - one way or another. Does anybody consider reducing dividends to shareholders or owners - for privately held companies where this is possible? Has greed become ingrained within our business culture?