The UK government is opening a new office to speed up regulatory approval of new technologies from AI surgical software to drones and space technology.
The aim of the Regulatory Innovation Office (RIO) is to cut red tape and make it easier for businesses to bring new products and services to the market, by speeding up approvals and ensuring that the various regulatory bodies work together smoothly. As part of the Department for Science, Innovation and Technology (DSIT), it will incorporate the existing functions of the Regulatory Horizons Council and the Regulators' Pioneer Fund.
"The launch of the Regulatory Innovation Office, a key manifesto commitment, is a big step forward in bringing the UK's most promising new technologies to the public faster and safely while kickstarting economic growth," said science and technology secretary Peter Kyle.
"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."
To start with, there will be four main areas of focus. The first is engineering biology; products such as new vaccines, cleaner fuels, pest-resistant crops, and cultivated meat. The second is space; GPS, such as communications systems. The third is AI and digital in healthcare, which includes personalized medicines. Finally, there's connected and autonomous technology, including the use of autonomous vehicles like drones to deliver emergency supplies to remote areas.
"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," said Kyle.
The launch of the Regulatory Innovation Office, originally promised in the Labour manifesto, follows a series of public and private investments announced last weekend and aimed at helping public and private organizations develop new health technologies.
And it comes ahead of next week's International Investment Summit, where the chancellor has promised to make clear that the UK is 'open for business' as it attempts to reset relations with trading partners around the globe.
Protect applications while focussing on core business initiatives
The move has been welcomed by the CBI, which described it as an 'ambitious statement' of the government's intent to boost innovation and grow the economy.
"Getting the economy firing on all cylinders requires an approach to regulation that sets out clear steps for unlocking private sector investment and involves meaningful partnership with business," said CBI director of technology and innovation Naomi Weir.
"Improving the pace of decisions, coherence between regulators and building regulator capability will all be welcomed by businesses as practical steps that will build confidence."
