UK ESTABLISHES REGULATORY INNOVATION OFFICE – RIO to ensure ‘early diagnosis’ of illnesses and ‘pest-resistant’ crops
The UK is setting up a new Regulatory Innovation Office (RIO) to speed up the approval of new technologies such as artificial intelligence for use in the healthcare, space and drone sectors, to boost growth.
The government said today that the new RIO would make it easier for companies to introduce cutting-edge technologies, and it would help set the scene for an international investment summit on Oct. 14.
Prime Minister Keir Starmer and Finance Minister Rachel Reeves will host sovereign wealth funds, businesses and infrastructure funds at that event to show the country is “open for business”.
The Minister of Science and Technology, Peter Kyle, said RIO will ensure that doctors can diagnose illnesses earlier, allow bio-engineers to create cleaner fuels and more pest-resistant crops, and ensure drones can be used for delivery in future.
“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,” he said in a statement.
