Technology will play a key role in the United Kingom’s economic survival following Brexit, according to professional services giant PwC.
Prime Minister Theresa May triggered Article 50 on Wednesday, officially signalling the of the country’s departure from the EU.
Jon Andrews, PwC’s head of technology and investments, harnessing innovation within the tech industry will be essential to keeping the UK afloat.
He said: “Technology is already helping to reshape and rebalance the future of our economy.
“For post-Brexit success this needs to remain high on the government’s agenda, which means creating the right environment for tech hubs and innovation to flourish right across the UK.”
Despite many businesses facing uncertainty, PwC appears to be hopeful regarding the future of the tech industry, and the part it will play in the economy.
Andrews added: “The UK has the ideal foundations to lead the way on the development and use of emerging technologies, and is already world-leading in areas such as Machine Learning.
“It is encouraging that the government is prioritising this through its Digital Strategy and the investment outlined in the Budget.”
He also outlined key areas of focus going forward: “The focus now should be on creating a flexible regulatory environment, establishing a favourable immigration regime, providing lifelong skills learning for everyone and investing in emerging technologies research.
“This will be more important than ever in the post-Brexit environment.”
Andrews stressed the important part the government must play in supporting the tech industry in order for it to thrive.
“Given the fast-paced nature of change, it’s vital that the government creates the right framework that is flexible enough to support the UK’s vision to be the leading place for technology investment and innovation – now and in the future.”
PwC is doing its bit to support the tech sector with the recent announcement it will be teaming up with Edinburgh-based incubator CodeBase to support tech start-ups.