Shoosmiths' key takeaways from techUK’s Tech and Innovation Summit

Shoosmiths’ head of technology sector Joe Stephenson attended the Tech and Innovation Summit, focused on how public and private sector organisations are supercharging innovation into action.

In today's rapidly evolving technological landscape, staying ahead of the curve is crucial for businesses and governments alike. Below, we reveal our key takeaways from the event:

Data Centres: Meeting the Demand for Growth

The digital age has ushered in a surge in data generation and consumption. However, the infrastructure supporting this growth has often lagged behind, and this is particularly evident in the United Kingdom. Despite being a global technology hub, the UK has struggled with insufficient data centre infrastructure to support its ongoing growth showcasing the need for more data centres becoming more apparent, but it's not just a question of quantity.

The UK's data centre intensity is a unique challenge with an estimated 85% of the country's computing power concentrated in the western part of London, an unbalanced strategy. The imperative is to diffuse data centres into other locations, and Manchester emerges as an ideal candidate due to its favourable geography and skilled workforce.

The Future of AI: Diversity in Applications

Artificial Intelligence is at the forefront of innovation, and its applications are growing at an astonishing rate. One fascinating facet of AI is Generative AI, or GenAI, where notably companies like Microsoft are harnessing its capabilities,  such as to detect illegal animal trafficking in a collaboration with Heathrow Airport, showcasing the breadth of its applications. GenAI is powerful, but it’s crucial to remember that it’s just one form of AI and finding the right tool for the job is essential, as GenAI may not always be the best solution for your business. The responsible use of AI is increasingly important with organisations like GSK taking this seriously, with the creation of a VP for responsible AI use and an AI Governance Council. When embarking on the AI journey, it’s essential to understand what AI is good at and where its limitations lie – this knowledge will guide effective implementation.

Quantum Computing: A Long-Term Vision

Quantum computing holds the promise of revolutionising computational power, and the UK government has recognised its potential. It has identified quantum technology as one of its five key focus areas, where although the industrial application is still in its early stages, the pace of change is accelerating. We only need to look at AI’s journey over the last few years to see how quickly this one will change. A long-term commitment is vital for success in quantum computing, where rather than trying to excel in all areas, the UK aims to specialise in quantum niches, such as computation and sensing. Investment is key for long-term growth and commercialisation.

Web3 and the Metaverse: A Paradigm Shift

We are on the brink of a profound transformation with Web3 and the Metaverse, offering limitless opportunities to reshape society and the economy. While the potential is enormous, several barriers still need to be overcome. These include common confusion around complex terminology, challenges in interoperability between blockchains, the scalability of blockchain and the need for unified regulation and standardisation. As blockchain technology is considered for digital IDs, a new level of data protection is required, with the potential for secure digital identities to streamline various processes as seen in the case of verifying doctor credentials in the NHS (which currently occupies and estimated 25,000 doctor days). It's not just the private sector that can benefit from blockchain technologies. Government adoption can bring about significant efficiency gain, such as using blockchain to significantly reduce the time and effort required to verify professional credentials.

Embracing Change and Innovation

The technology landscape is ever-changing, and it is crucial to adapt to these shifts. From expanding data centre infrastructure to leveraging the potential of quantum computing, AI, and blockchain in Web3, organisations and governments must remain agile and forward-thinking. Through strategic planning, responsible utilisation, and ongoing investment, we can unlock the full potential of these transformative technologies, shaping a brighter future for all.