UK taps tech for growth with new regulatory initiative

9 October 2024

The UK has launched a new Regulatory Innovation Office (RIO), with the goal of accelerating new technologies, particularly in sectors like biotech and healthcare, by reducing regulatory barriers.

The new office will focus on fast-tracking approvals and simplifying processes for companies aiming to bring products like AI-powered medical tools and innovative products to market.

The initiative is part of a broader plan to support the UK’s economic growth by encouraging innovation in high-potential areas such as engineering biology and healthcare technology. The RIO will work with regulators to modernize rules, reducing the red tape that often slows the introduction of novel products.

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