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Tech & Sourcing @ Morgan Lewis

TECHNOLOGY TRANSACTIONS, OUTSOURCING, AND COMMERCIAL CONTRACTS NEWS FOR LAWYERS AND SOURCING PROFESSIONALS

The United Kingdom published a roadmap detailing its goal of becoming a technological superpower by 2030 through the use of its new International Technology Strategy and opening of the Technology Centre of Expertise. The Foreign Secretary and the Science, Innovation and Technology Secretary have stated goals of strengthening the UK’s international connections and collaboration in order to build on the UK’s strengths in the technology sector during this new strategy’s launch.

The Strategy

The UK’s new strategy outlines methods for implementing the best uses of technologies while simultaneously countering malicious influences on technology. Four key principles guide the UK’s new strategy: openness, responsibility, security, and resilience. These principles will shape the UK’s technological future and promote positive use, drive innovation and UK technology leadership, and boost national security against new threats. The UK intends to focus on five critical emerging technologies: artificial intelligence, quantum, semiconductors, telecommunications and engineering biology.

International Collaboration

The UK’s tech envoy has forged new connections with companies in Silicon Valley. To build on this success, the government will expand the UK’s network of envoys to create a “tech diplomacy network” of highly skilled people from the technology sector, which will be used as a platform to promote international collaboration. A new Technology Centre of Expertise will be opened to support the objectives set out in the International Technology Strategy. The centers will bring together tech and digital experts from the government, private sector, and academia to support other countries in transforming their economies to be more sustainable, innovative, and inclusive.

The UK also plans to work with the Organisation for Economic Cooperation and Development Global Forum on Technology to engage with the international community on better technology usage. Additionally, the UK intends to secure a seat on the Council of the International Telecommunications Union to increase worldwide connectivity and provide clear leadership in the telecommunications sector.

Technology Secretary Michelle Donelan stated, “We are a top-class breeding ground for emerging tech, but being a superpower means working with our international partners to turn these nascent technologies into global industries.”

Economic Growth

The UK prime minister has made economic growth, including creating higher paying jobs and opportunities across the nation, a main priority. Specifically, he has advised that investing in the UK’s thriving technology sector will be a direct contributor to this priority.

In 2022, the technology sector was worth $1 trillion, and the UK was home to more than 85,000 startups and scaleups. The UK has invested more in the tech sector than France and Germany combined in the last year, creating sustainable, high-quality jobs.

Key Takeaways

The International Technology Strategy illustrates the UK’s goal of fostering international connections in order to promote the UK’s tech sector through attracting investments. The strategy also indicates the UK’s strong desire to become a global leader in technology, as it works to boost its current reputation through collaboration and innovation, aiming to tackle shared global challenges.

Read the UK’s International Technology Strategy.