February 22, 2024
Jeremy Hunt to woo US tech companies on West Coast tour

Jeremy Hunt will meet technology and creative firms on the west coast of the United States as part of efforts to make Britain the “next Silicon Valley”.

The Chancellor will hold talks with tech giants including Microsoft, Amazon and Alphabet in Los Angeles, San Francisco and Seattle to boost investment in the UK.

According to the Treasury, his visit starting on Wednesday will also include a speech to British senior tech leaders, entrepreneurs and investors to highlight the UK’s success in the sector.

He will also hold a roundtable meeting with representatives of the largest video game companies.

Ahead of his visit, Mr Hunt said: “The UK is ideally placed to attract fast-growing companies; We have all the right ingredients to become the next Silicon Valley, and I’m going to shout about our strength up and down the West Coast of the United States.

“The UK’s tech industry makes a huge contribution to the economy – last year it became the third in the world to achieve a trillion dollar valuation – and we have created the most unicorn companies in Europe, more than France and Germany combined.

“I want to build on these fantastic successes and drive investment that will bring more exciting jobs to our shores and grow the economy.”

The Chancellor, who is preparing to deliver his autumn statement on November 22, has put the technology sector as well as the creative industries, life sciences, advanced manufacturing and the green sector at the center of his plan to boost the struggling economy.

Artificial intelligence is a topic at the top of the British agenda at the UN General Assembly in New York this week.

Deputy Prime Minister Oliver Dowden, who is leading the team due to Rishi Sunak not attending the gathering, will use his address on Friday to urge countries to collaborate on new technology, including meetings with top tech companies. Will happen. American tour.

It comes as the UK prepares to host an AI summit in November, with the Prime Minister keen to establish a key role for Britain in harnessing and regulating the technology.

Source: uk.finance.yahoo.com

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