Secretary of State for Business and Trade, Peter Kyle MP, has promised to use the power of AI and accelerate deregulation to unlock economic growth in one of his first major speeches following his recent promotion to the Cabinet.
Speaking with 200 technology leaders on Friday morning at The University of Sussex at the UKAI conference, Kyle outlined his vision for driving growth through innovation.
Comparing government to running a business, Kyle said that the route to getting out of the financial crisis was for the UK to innovate its way out.
“Look at Apple when they re-hired Steve Jobs….they were 90 days for insolvency… he didn’t just sit down and say what they can’t do… he threw everything at it,” he said.
The former Technology Secretary went on to underline his government’s achievements, including increasing R&D investment by 11%.
He also stated his intention to continue with deregulation as a means to free up smaller businesses from red tape.
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Attendee Kenny MacAulay, CEO, Acting Office said: “With the financial services industry playing such a crucial role in driving UK growth, it’s reassuring to hear the Secretary of State endorsing the power of AI and technology to accelerate business development across the UK.
“By pursuing an agenda of deregulation and a technology-first approach, the government will be able to turbocharge the next generation of entrepreneurs, creating jobs, spreading wealth and improving lives.”
Lee Beard, national security and defence specialist at Check Point Software, added: “AI is a powerful catalyst for innovation across government and industry, and it’s encouraging to see this recognised at the highest levels of UK leadership.
“As the Secretary of State rightly highlights, unlocking growth through AI must go hand in hand with building secure, resilient digital infrastructure.
“We’re seeing AI being used by both defenders and adversaries – and that raises the stakes. For public services and critical national infrastructure, security must be proactive, not reactive.
“It’s vital that cybersecurity is not viewed as a barrier to progress, but as a foundation for safe and sustainable innovation. With the right guardrails in place, the UK can lead the world in secure, AI-driven digital transformation.”