The Prime Minister Rishi Sunak claimed we are at a “moment of huge opportunity,” with the “technonic plates of technology” shifting.
Speaking at London Tech Week, Sunak said: “We must act, and act quickly, if we want not only to retain our position as one of the world’s tech capitals, but to go even further and make this the best place in the world to start, grow and invest in tech businesses.”
He suggested artificial intelligence could surpass the industrial revolution in the speed and breadth of the changes it will bring, as he pitched for the UK to become the home of AI regulation.
The PM said the technology will be useful across the economy, with “every job essentially having AI as the co-pilot”.
He added: “In health we are already seeing the promise of what AI can do, whether it’s new drug discovery, or helping doctors do surgery more accurately and faster, or indeed detect cancers and other things much earlier than they otherwise would.”
And he said its potential in education “is the thing that I’m most excited about.”
“The power of AI to reduce teachers’ workloads and burdens, lesson planning, marking, but also to provide personalised learning for each individual - which we know when it comes to tutoring is so powerful.”
“Technology holds out the promise of every pupil, every student, having a personalised tutor. I think that potentially is just extraordinary in terms of the good it can do.”
Sunak announced the launch of HSBC Innovation Banking, following the rescue of tech-focused lender Silicon Valley Bank earlier this year.
The new unit will focus on banking services to the startup, investor, and wider tech community.