Very interesting. While a (short term) AI sceptic I am delighted to see the return of a considered industrial strategy, one that should be applicable across a lot of new tech. I suspect they'll need to win (or not lose) the next election to give it time to bear fruit. We also need to see how existing big Tech and Trump respond to even the prospect of such competition.
If left to VCs and the City, successful startups will be quickly sold off, inevitably to foreign bidders who will own the IP, the jobs and profit. They care nothing for the wider social and economic input.
AI is far too important - the state must step in and pull in the expertise to help.
I graduated in economics in 1964 and these kind of arguments were being pushed by all the industrial economists of the time. They had watched Germany and Japan catch up with our industrial outputs and advocated investment in modern technology and computers. To no avail. By the 1970’s we were losing any competitive advantage we ever had and by the 1980’s with Thatcher and Lawson at the helm debating whether Britain needed an industrial base at all. And all the time, despite all advice, any start-up of any potential was being sold off to the highest bidder. Let us hope that AI will give Britain the opportunity to return to our former position in the industrial world where we no longer have to depend on the financial sector to bail us out.
That’s very interesting. As you say, an economic alternative has always been there. That is part of the reason why I go on about the politics so much as that’s the thing that has been in the way.
Very interesting. While a (short term) AI sceptic I am delighted to see the return of a considered industrial strategy, one that should be applicable across a lot of new tech. I suspect they'll need to win (or not lose) the next election to give it time to bear fruit. We also need to see how existing big Tech and Trump respond to even the prospect of such competition.
If left to VCs and the City, successful startups will be quickly sold off, inevitably to foreign bidders who will own the IP, the jobs and profit. They care nothing for the wider social and economic input.
AI is far too important - the state must step in and pull in the expertise to help.
Yes. I think Clifford can see this very clearly.
I graduated in economics in 1964 and these kind of arguments were being pushed by all the industrial economists of the time. They had watched Germany and Japan catch up with our industrial outputs and advocated investment in modern technology and computers. To no avail. By the 1970’s we were losing any competitive advantage we ever had and by the 1980’s with Thatcher and Lawson at the helm debating whether Britain needed an industrial base at all. And all the time, despite all advice, any start-up of any potential was being sold off to the highest bidder. Let us hope that AI will give Britain the opportunity to return to our former position in the industrial world where we no longer have to depend on the financial sector to bail us out.
That’s very interesting. As you say, an economic alternative has always been there. That is part of the reason why I go on about the politics so much as that’s the thing that has been in the way.