5 key takeaways from London Tech Week

Wow, what a week it was at London Tech Week 2023! As a tech enthusiast, I was thrilled to connect with some of the brightest minds in the industry. With so much going on throughout the week, I wanted to share with you my key takeaways from this amazing event.

 

The UK is becoming a tech superpower.

One of the most noticeable themes throughout London Tech Week was the UK's push to become a technology superpower. It's no secret that the US is reviewing its relationship with blockchain and crypto organizations, which provides a massive opportunity for the UK to offer growth potential and an alternative regulation. A16Z choosing to set up their European head office here in the UK is a nod to that! Moreover, Rishi Sunak talked about positioning the UK as a technology superpower and attracting more foreign tech direct investment projects. This goal shouldn't be limited to just London but should also expand to other big cities like Birmingham, Manchester, and Leeds.

 

AI needs regulation 

AI is undoubtedly one of the most promising technologies available today. However, there are still concerns regarding governance that must be addressed. With AI developing at an exponential rate, it brings both new opportunities and unforeseen risks - making strong governance crucial. So, it was great to hear Sunak announce that London will be hosting the first global summit on AI this September with leaders all over the world attending, it's clear the UK is keen to be at the centre of the long-term growth of AI and there is hope that we can really begin to leverage the benefits that come with that. Upskilling our workforce is key We've known for quite some time how vital it is that we upskill our workforce, and effectively upscale them for roles required today and in years to come. The conversations around OpenAI and ChatGPT have only accelerated that importance. Euan Blair from Multiverse talked about how we shouldn't necessarily follow traditional routes of learning anymore but instead leverage technology and create a supervised learning ecosystem where people globally have access to coaches, mentors, and tutors.

 

Purpose is essential

Scaling your culture while keeping faith with your core qualities is becoming increasingly important as businesses evolve from start-up to scale-up. Bev White, CEO of our parent company Nash Squared, joined a panel discussing the topic of scaling your culture � and it was something that came up again and again throughout the week. It�s clear it�s becoming more and more important for businesses to understand exactly what their �north star� is, where they are heading as a collective, and how exactly they should build a thriving culture whilst scaling up, having a �purpose�. Candidates nowadays want not just salary and benefits but also want to know what drives businesses forward.

 

Providing a platform for entrepreneurs 

Jeremy Hunt's speech highlighted how the UK is becoming a hub for entrepreneurship with a robust ecosystem. We currently have 42 unicorns in the UK (we are fourth after US, China and India) however almost all of them have had foreign VC investment that has helped them to unicorn status. So there was a lot of conversation around how we can make funding more accessible to our own UK startup businesses without the need of oversees investment. It's essential to provide a platform for growth to our entrepreneurs, and the UK is on track to do just that.

 

London Tech Week 2023 was an exciting event that showcased the UK's potential as a tech superpower. With AI, upskilling our workforce, purpose-driven businesses, and entrepreneurship at the forefront of our minds, we can work towards building a better future.