UK tech sector leaders from ServiceNow, Snowflake, and Celonis respond to the Labour Government’s Autumn budget.

With the launch of the Labour Government’s Autumn Budget, Sir Kier Starmer’s government and Chancellor Rachel Reeves seem determined to convince Labour voters that the adults are back in charge of the UK’s finances, and convince conservatives that nothing all that fundamental will change. Popular policies like renationalising infrastructure are absent. Some commenters worry that Reeves’ £40 billion tax increase will affect workers in the form of lower wages and slimmer pay rises. 

Nevertheless, tech industry experts have hailed more borrowing, investment, and productivity savings targets across government departments as positive signs for the UK economy. In the wake of the budget’s release, we heard from three leaders in the UK tech sector about their expectations and hopes for the future. 

Growth driven by AI 

Damian Stirrett, Group Vice President & General Manager UK & Ireland at ServiceNow 

“As expected, growth and investment is the underlying message behind the UK Government’s Autumn Budget. When we talk about economic growth, we cannot leave technology out of the equation. We are at an interesting point in time for the UK, where business leaders recognise the great potential of technology as a growth driver leading to impactful business transformation.   

AI is, and will increasingly be, one of the biggest technological drivers behind economic growth in the UK. In fact, recent research from ServiceNow, has found that while the UK’s AI-powered business transformation is in its early days, British businesses are among Europe’s leaders when it comes to AI optimism and maturity, with 85% of those planning to increase investment in AI in the next year. It is clear that appetite for AI continues to grow- from manufacturing to healthcare, and education. Furthermore, with the government setting a 2% productivity savings target for government departments, AI has the potential to play a significant role here, not only by boosting productivity, but driving innovation, reducing operational costs, as well as creating new job opportunities.   

To remain competitive as a country, we must not forget to also invest in education, upskilling initiatives, and partnerships between the public and private sectors, fostering AI innovation to drive transformative change for all.” 

Investing in the industries of the future

By James Hall, Vice President and Country Manager UK&I at Snowflake

“Given the Autumn budget’s focus on investing in industries of the future, AI must be at the forefront of this innovation. This follows the new AI Opportunities Action Plan earlier this year, looking to identify ways to accelerate the use of AI to better people’s lives by improving services and developing new products. Yet, to truly capitalise on AI’s potential, the UK Government must prioritise investments in data infrastructure.

AI systems are only as powerful as the data they’re trained on; making high-quality, accessible data essential for innovation. Robust data-sharing frameworks and platforms enable more accurate AI insights and drive efficiency, which will help the UK remain globally competitive. With the right resources, the UK can lead in offering responsible and effective AI applications. This will benefit both public services and the wider economy, helping to fuel smart industries and meet the growth goals set out by the Chancellor.” 

Growth, stability, and a careful, considered approach 

By Rupal Karia, VP & Country Leader UK&I at Celonis

“Hearing the UK Government’s autumn budget, it’s clear that growth and stability are the biggest messages. With the Chancellor outlining a 2% productivity savings target for government departments, it is crucial the public sector takes heed of the role of technology which cannot be understated as we look to the future. Artificial intelligence is being heralded by businesses, across multiple sectors, as a game-changing phenomenon. Yet for all of the hype, UK businesses must take a step back and consider how to make the most of their AI investments to maximise ROI. 

The UK must complement investments in AI with a strong commitment to process intelligence technology. AI holds transformative potential for both the public and private sectors, but without the relevant context being provided by process intelligence, organisations risk failing to achieve ROI. Process intelligence empowers businesses with full visibility into how internal processes are operating, pinpointing where there are bottlenecks, and then remediates these issues. It is the connective tissue that gives organisations the insight and context they need to drive impactful AI use cases which will help businesses achieve return on AI investment. 

Celonis’ research reveals that UK business leaders believe that getting support with AI implementation would be more important for their businesses than reducing red tape or cutting business rates. This is a clear guideline for the UK government to consider when looking to fuel growth.” 

  • Data & AI

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