creating a pro-innovation culture throughout the UK’s public sector to improve the way our public services run.leveraging post-Brexit freedoms to create world-leading pro-innovation regulation and influence global technical standards.ensuring researchers have access to the best physical and digital infrastructure for R&D that attracts talent, investment and discoveries.shaping the global science and tech landscape through strategic international engagement, diplomacy and partnerships.capitalising on the UK government’s buying power to boost innovation and growth through public sector procurement.financing innovative science and technology start-ups and companies.building on the UK’s already enviable talent and skills base.boosting private and public investment in research and development for economic growth and better productivity. showcasing the UK’s S&T strengths and ambitions at home and abroad to attract talent, investment and boost our global influence.identifying, pursuing and achieving strategic advantage in the technologies that are most critical to achieving UK objectives.The new Science and Technology Framework is an all-hands-on-deck call from the newly created Department for Science, Innovation and Technology and is seeking to involve all aspects of the government in a plan to place the UK as king of the hill when it comes to global science and technology this decade through 10 key actions: Moreover, hub firms themselves must lead responsibly for the good of all, not just creating and capturing value but doing more to sustain other players in the ecosystem.UK Prime Minister Rishi Sunak and Science, Innovation and Technology Secretary Michelle Donelan have laid out a new initiative that will see in excess of £370 million being funneled into improving infrastructure, investment, and skills for growing UK tech companies, with “trailblazing” tech including quantum, supercomputing, and AI specifically mentioned in the government’s statement. It is thus incumbent on all stakeholders-traditional companies, start-ups, institutions, and communities-to make certain changes in the ways they do business. As an example, they take an in-depth look at the auto industry and how Apple and Alphabet/Google are poised to become the main beneficiaries as cars turn into digitally connected spaces for work, entertainment, and shopping.Īs hubs proliferate and expand their reach, the danger is that they will exacerbate economic inequality and threaten social stability. The authors argue that the hub economy will continue to spread across more industries, concentrating more power in the hands of a few. These hubs drive increasing returns to scale and claim a disproportionate share of the value being created in the global economy. A small number of digital superpowers-Alibaba, Amazon, Microsoft, and others-have become “hub firms” because they control access to billions of mobile customers coveted by all kinds of product and service providers.
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