UK Elections: AI & Technology

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Jun 25, 2024

Image copyright: Leon Neal/Getty Images via Getty Images Newscontext last updated Jul 03

The Facts

Overview: According to the UK’s Dept. for Science, Innovation and Technology, the country’s digital sector produced an estimated £161B ($204B) in gross value added (GVA) in 2023, representing roughly 7.4% of total GVA in March 2023, down to 7.2% in March 2024. Meanwhile, according to the latest available data from March 2023, AI represents roughly £3.7B ($4.7B) in GVA, with the US’ International Trade Administration (ITA) estimating the UK AI market to be the third most valuable in the world at £16.5B ($21B). The UK government claims the country accounts for roughly half of European private capital investment in AI, with its tech sector valued at over $1T, third only to the US and China.
Current state: TechUK recommends seven technological priorities for the next government: an updated AI strategy focused on deployment and uptake, a new Technology Procurement Delivery Body, a “digital skills toolkit” by 2030, an Online Safety Sandbox, a new “pro-growth” regulatory model, a continuation of the country's “Scale-up sprint,” and a new approach to trade emphasizing digital economy agreements and new tech bridges. Meanwhile, the cross-party Science, Innovation and Technology select committee claims AI can complement human activity if governed appropriately. It notes that while the existential risk of AI is high impact but unlikely, the UK should complete its regulatory gap analysis “as soon as is practicable,” and continue consulting with experts over potential risks.

The Spin

Tory narrative

While the topic of AI may be flying under the radar during the election campaign, the prime minister's belief in a looming technological revolution deserves greater attention. Sunak is well aware that AI is the remedy to the country's stagnant wage growth and productivity, and if the Conservatives want to remain in Downing Street they must focus less on Labour fear mongering and more on a vision of the UK at the very forefront of world-leading technology and innovation.

Spectator (UK)

Labour narrative

With the UK's AI Summit exposing Sunak's subservience to the technology sector, Starmer and the Labour Party must take note and instead strike a fine balance between revolution and regulation. The UK must remain at the frontier of technology while placing much-needed focus on restricting the associated dangers of AI and providing a fair and safe environment for companies to compete and discover. Labour holds the potential over the next five years to transform society — they must do so with both optimism and caution.

New Statesman

Progressive narrative

Hype around AI has artificially inflated the strength of global markets through promises of increasing productivity by appropriating the knowledge of workers while removing them completely from the production cycle. AI is yet another example of the global elite attempting to repackage the same oppressive hierarchy, and like both the dot com bubble and the 2008 financial crisis it is destined to fail.

Socialist Worker