Labour's AI minister says Britain must not leave AI to 'tech bros and oligarchs' and hints at Budget measures

Kanishka Narayan wants the state to build its own AI capacity rather than simply play a regulatory role. He warned Britain is "totally reliant on other countries" for essential technology. His comments came shortly before Barclays announced 5,000 job cuts as part of an AI-driven efficiency push. He suggested that his discussions with John Healey may lead to an AI-related announcement in Wednesday's Budget.

Narayan says the AI shift "in some ways exceeds the Industrial Revolution".

Ministers are weighing up a mandatory reporting regime for significant incidents arising from autonomous AI systems.