The UK government has launched a new Regulatory Innovation Office designed to ‘reduce the burden of red tape’ and speed up access to new technologies including the faster roll out of artificial intelligence (AI) powered systems.
The new governmental office, announced by the UK’s newest Secretary of State for Science, Innovation and Technology, Peter Kyle, aims to support both companies and the country’s regulators in pushing for new and updated rules around greenlighting new technologies and working with industry bodies and authorities to ensure faster approval.
Go deeper with GlobalData
The department claims that the announcement comes ahead of further plans to cut regulation in the space set to be announced as part of the upcoming International Investment Summit on Monday 14 October, where UK Chancellor, Rachel Reeves, is expected to announce that the UK is open to investment.
Peter Kyle said: “By speeding up approvals, providing regulatory certainty and reducing unnecessary delays, we’re curbing the burden of red tape so businesses and our public services can innovate and grow, which means more jobs, a stronger economy, and a better quality of life for people across the UK.
“From breakthroughs that could help doctors diagnose illnesses earlier to satellite navigation for more accurate weather forecasting and getting emergency supplies to where they are needed, quickly and effectively, RIO will make sure UK companies are at the forefront of the next generation of technologies.”
The Science and Technology Secretary said that the body would immediately begin searching for its first Chair to take charge of the organisation, with applications being taken from across the country.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe announcement similarly comes with a new raft of measures designed to ease access to investment into the UK life sciences scene, including the publication of new voluntary screening guidance for synthetic nucleic acid that allows companies to create DNA and RNA, enabling academics and businesses to study and engineer biological systems. Similarly, the government body said that it has made progress in becoming the first country to outline regulation for the future potential of quantum computing.
Steve Bates, CEO of the BioIndustry Association (BIA), said: “The UK’s world-class strength in engineering biology and AI is a unique opportunity to drive economic growth and deliver innovative products that improve all our lives, from healthier food with a smaller carbon footprint to precision cancer vaccines with reduced side-effects.
“Regulation when done right can be an enabler of innovation, not a hinderance. We welcome this rapid progress by the new Labour government to install a new body tasked with making sure great British innovations reach the public faster so that we can all benefit.”
Since the onset of a new Labour government in July of this year, the new leadership has made various efforts to bring further investments to the UK’s life science sector. Earlier in October the government unveiled a range of new funding measures designed to drive further investment into the nation’s life sciences sector.
