Last week, our UK Connect community hosted our inaugural event, “Navigating 2025: Innovation, Sustainability and Economic Growth”. The event focused on the outlook for businesses in the UK and globally over the coming year; covering key themes of AI, sustainability and conservation, and the impact of the October budget on the UK economy.
The event featured inspirational and insightful speakers, animated debate, and of course lively networking among our community members. Amid the discussion, some powerful messages and takeaways emerged:
- AI is evolving exponentially, and we discover – rather than design – what it is able to do. ChatGPT-4 represents a 10,000-fold increase in computing power compared with ChatGPT-2, and we can expect a further 10,000-fold increase over the next four years. Yet unlike other forms of software, generative AI’s applications are not designed at the outset, but rather are discovered. For instance, no one instructed ChatGPT-4 how to play chess, but it turns out it can – and it is getting better all the time
- The UK budget will increase the burden on business but aims to boost investment and economic growth over the long term. Rachel Reeves’ October budget contained unwelcome news for business in higher employer National Insurance Contributions, which will create a drag on economic growth as companies adjust to increased payroll costs. However, government spending hikes, combined with reforms in areas from pensions to urban planning, are forecast to increase growth and could crowd in private investment over the longer term. Official projections put the boost to GDP at 1.2% as far out as 2072-73
- Sustainability is not just about processes and reporting, it’s also about inspiring people. Sustainability can often appear a challenge for businesses, illustrated by the extensive data gathering, management and reporting needs imposed by Scope 3 emissions requirements. But at the same time, sustainability initiatives bring opportunities to inspire workers and increase engagement with customers and communities. Doing so can manage potential risks, and drive value at companies
While wide-ranging and seemingly unrelated, all these topics share a common thread: change is coming fast and companies need to be prepared. This means building resilience in the business and its people, investing in technology to understand and harness data, and of course being ready to seize opportunities.
For more information on the event and how to join our Connect community click below:
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