Science and technology have been the driving force of progress for much of our modern age. Our accomplishments have allowed us to live longer, healthier lives, to travel across the world and into space, and to generate food and energy at scale.

The United Kingdom has been at the forefront of many of these breakthroughs and was home to one of humanity’s great leaps: the Industrial Revolution. Another revolution is now taking place as developments in artificial intelligence (AI), biotech, climate tech and other fields begin to change our economic and social systems.

Of course, as with the Industrial Revolution, this 21st-century technological revolution carries dangers as well as opportunities.

The challenge for policymakers is to mitigate the former and fully embrace the latter. But this requires a fundamental re-ordering of our priorities and the way the state itself functions.

The UK is starting with real strengths in many areas of emerging technology. It also has assets in its universities and in its private sector that offer significant advantages.

However, as we show in this report, without radical change, we risk decline. We cannot afford to fall behind.