Today TBI published the first in a series of policy papers ahead of the third TBI Future of Britain conference in July.
Accelerating the Future: Industrial Strategy in the Era of AI, by authors Jeegar Kakkad, Eleni Arzoglou and Henry Li, argues that “realising the full potential of AI requires a new set of policy instruments that embrace a more agile and adaptive approach to policymaking”. The paper outlines 22 recommended policy instruments for the government to adopt to increase productivity and generate wealth in Britain. These include:
Invest in political authority by establishing a central unit at the heart of government to drive the science-and-technology agenda; creating joint policy and delivery teams across science and technology; appointing experts as specialist executive ministers in crucial technology areas; embedding foresight, scenario planning and crisis-simulation capabilities within government; and investing in digital foundations.
Unlock common upstream resources by streamlining bureaucracy in research funding and management; reforming research funding to prioritise high-risk, high-reward projects; investing in critical digital infrastructure; expanding the availability of capital for deep-tech ventures; attracting global talent and investment; and making a skills-and-training strategy part of industrial strategy.
Build a focused research environment by establishing a network of interdisciplinary research institutes; pioneering new institutional models for collaborative, interdisciplinary research; developing sectoral data trusts and frameworks; launching mission-driven research programmes aligned with strategic technology priorities; and building on existing centres of excellence in areas where the UK has a comparative advantage.
Diffuse technology from the frontier to the wider economy by creating a programme of regional AI Trailblazers; creating regulatory sandboxes and testbeds; and establishing a network of regional innovation clusters and hubs.
Create quicker routes to market by establishing an Advanced Procurement Agency; ensuring economic regulation is designed to accelerate the route to market for new technologies; and reforming the UK’s science translation and technology transfer system.
TBI’s Future of Britain initiative sets out a policy agenda for a new era of invention and innovation. This series focuses on how to deliver radical-yet-practical solutions – concrete plans to reimagine the state for the 21st century – with technology as the driving force.