Lords Communications and Digital Committee to report on AI and creative tech scale-ups

The ability of the UK to support innovative AI and Creative Tech businesses to scale will be vital to the Government’s ambitions of improving economic growth. The creative industries have been identified as one of eight high-growth sectors in the industrial strategy Green Paper, while AI will impact on all areas of the economy and wider society in the coming years.

he UK has strong foundations in both AI and Creative Tech with a thriving startup scene and a world-class academic research base. However, we have been less successful in creating the conditions to enable AI and creative tech companies to grow into significant domestic businesses. Often existing UK start-ups are sold to foreign investors or list on overseas stock markets, meaning their longer-term success benefits countries other than the UK.

The Committee’s report will explore why this is and what can be done to reverse the trend. The report considers a range of issues including access to investment capital, the impact of our regulatory framework, the support available to scale-ups in the UK, cultural attitudes to entrepreneurship, and the potential impact of the Government’s recently published AI Opportunities Action Plan.

The report will be available on the commitee's website on Monday 3 February.