The new Secretary of State for Business and Trade, Peter Kyle MP, has vowed to leverage AI and accelerate deregulation as central pillars of the government’s strategy to reignite economic growth.
Addressing more than 200 technology and business leaders at the UKAI Conference at the University of Sussex, Kyle drew parallels between government and corporate leadership, arguing that Britain must “innovate its way out of crisis” rather than rely on austerity or caution.
“Look at Apple when they re-hired Steve Jobs,” he told delegates. “They were 90 days from insolvency — and he didn’t sit down and say what they couldn’t do. He threw everything at it. That’s the approach we need now.”
In one of his first major speeches since joining the Cabinet, Kyle pledged to make artificial intelligence a driver of productivity, job creation and investment, while promising to cut red tape for small and medium-sized enterprises.
He highlighted a 11 per cent rise in R&D investment since Labour came to power and promised to expand innovation funding through partnerships with universities, start-ups and the private sector.
“The UK has world-class researchers, entrepreneurs and engineers,” Kyle said. “Our job is to make sure that regulation works for them — not against them.”
The announcement drew strong support from industry leaders attending the conference.
Kenny MacAulay, CEO of Acting Office, said: “With financial services playing such a crucial role in driving UK growth, it’s reassuring to hear the Secretary of State endorse AI and technology as engines of business development.
A deregulated, tech-first approach will help turbocharge the next generation of entrepreneurs, creating jobs, spreading wealth and improving lives.”
Lee Beard, National Security & Defence Specialist at Check Point Software, welcomed the government’s embrace of AI but warned that cybersecurity must underpin progress: “AI is a powerful catalyst for innovation, but we’re seeing it used by both defenders and adversaries — that raises the stakes.
For public services and critical infrastructure, security must be proactive, not reactive. Cyber resilience shouldn’t be a brake on progress; it’s the foundation of safe, sustainable innovation.”
Kyle acknowledged that as AI adoption accelerates, digital safety and ethical standards must evolve in parallel. He reiterated the government’s commitment to building secure, transparent AI systems that maintain public trust while driving commercial value.
Industry observers say the speech signals a renewed industrial strategy built on innovation, investment and intelligent regulation — an approach that could define the government’s economic narrative in the run-up to next year’s spending review.
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Business Secretary vows to harness AI and deregulation to turbocharge UK growth