High tech sector in London and its connection to other businesses

London has been one of the most technologically advanced cities in the world. The city has enhanced high-tech sector that has enabled other businesses to perform their businesses effectively. Advancement in technology in London has increased and expanded hence improving how other businesses have performed. Therefore, the paper has intended to look at the new technologies in London and how they have impacted other business. In the analysis, the high technology sector has looked into the financial technology, transport technology, information systems and communication and also how it has impact the venture capital investment. Moreover, technology in London has influenced more sectors such as health sectors, education sector and production The growth of technology in London has been facilitated by both the users and developers who are able to invent more technologies. High technology has facilitated to the improvement of skills and use of appropriate technologies that are efficient and complete the tasks effectively. This has increased the competitiveness and productivity of other business connected to technology industry in the city.

Executive summary

Technology has been an important factor in facilitating the growth and competitiveness of business. High-tech industries have expanded strongly in their dynamism and international trade that has helped in improving the performance of other sectors. The sequence of events in the current world has revolved around high tech sector with fast emerging technologies. In the research and development technology and science have been acknowledged as factors of better-paid jobs, growing competitiveness, inclusive and sustainable economy. The paper has analyzed the high-tech sector in London and how it has connected with other businesses such as the transport services and financial institutions. The paper has also analyzed the impact of the high-tech sector in London to the economy and venture capital investment in financial technology in Europe.

High-Tech Sector In London

The aim of high-tech has been creating an information system that can monitor and support the implementation of the production of technology and science statistics (Baker, J., 2012, p.25). Research has found out that high tech sector has had a great impact on other businesses in London. This has involved both the developers who are the technology companies to the users. The high technology activities are considered to be crucial in achievement and influences the planning policies in a large number of industries.

London is considered in the world as one of the cities in the world that are most technologically advanced. London has continued to hold the position as the Europe tech capital, through the record levels of venture capital investment. London’s technological advancements have attracted many venture capital investments in the last decade more than any other European city. The growth of high tech in London has been continued to be unprecedented in new technologies. London has already become the leader in smart technology.  Emergent technology has tremendously impacted the society and influenced the job market. This is from the increased productivity to the technological inventions with a constant flow of new digital tools that have reshaped every aspect of the world’s most exciting development and research.

Source 1 CB Insights; data Analysis by McKinsey Panorama

For many years, London has been the European startup scene (Burgel, O. and Murray, G.C., 2000, p. 41). The city has some financial transactions that have been taking place electronically each day in the financial services of the city.  Due to its reliance on in financial sector and technology sector, the city has also ensured that has invested heavily in its communications infrastructure. The money investors in London such as the soft banking have put the technology in London companies to benefit from the tech ecosystem and has played a vital role in building a foundation in technologies in the 21^st century.  London has had fundamental strengths as the center of technology. This is because, in the city, the companies have everything that they need to be successful. These include finance, policymakers, and infrastructure.

The records have shown that the London’s tech has thrived and remained open for investment all over the world. For instance, the innovations in transport, the London store, using new technologies to recycle waste and network management systems. The Tech companies in London are utilizing innovations and new technology. They have utilized to explore how they can create a better future and have also encouraged the development of new design technology that has ensured that they meet the needs of the citizens.

High-tech has had a promising future in investment through improvements in skills, energy and utilities, health and safety skills and transport. The companies in London have utilized Fintech that has driven a new business model. The disruptors have been considered as fastmoving companies that have focused on certain innovations that have ensured that everything is processed technologically from insurance to mobile payments (Revest, V. and Sapio, A., 2012, p.201). After the utilization of this technology, there has been an increase in global investments that driven by Fine tech in the IT worldwide.

Transport for London has revealed new plans that have been utilized in the creation of the latest safety technologies. These include warning systems that are audible, autonomous breaking and a new design mirror that has been utilized to improve visibility on the buses in London (Hagedoorn, J. and Duysters, G., 2002, p. 68). The Autonomous breaking will enable the vehicle to detect any danger in the surrounding and hence apply brakes automatically.  The lights and audible warnings are relevant for the road users. These will alert them the presence of buses. The London’s\ tech has also proposed for high-speed rails system that will facilitate the growth of transport sector Improvements of vision drivers will include mirror design that has been improved technologically. The city has also had super-fast broadband that has guaranteed customers a world-class connectivity. This has facilitated communication in the city and other connections throughout the world.

One of the ways that leaders in business in London have identified how to be competitive is through increasing their basic skills in technology advancement. The London has recognized the E-industry that has been one of the fastest growing sectors and has revealed a potential for more growth.  The leaders in business have utilized an effective communication and information that has supported innovation and promoted environmental and creative industries. They have also aimed at increasing g the information technology skills through helping their employees understand the skills to keep up with the latest updates in the technological advancements. Having knowledge and sufficient education has increased the financial service markets and industry sector. They have supported the city and its administrative role with available workforce skilled upskilled.  This approach has enabled London to continue competing with other cities in the world in the years to come.

The number of jobs in the high or advanced technology sector has grown than the number of jobs in the low-technology sectors. There has been a high concentration of the companies found in London and Newcastle. The digital economy has increased and grown twice the rate of the wider economy due to the spread of digital business in the city (Coad, A. and Rao, R., 2008, p. 642). The growth of the digital economy in the UK has been 50% faster of the wider economy. Companies such as the tech city have greatly influenced the growth of technology in London. Technology companies have been the leading figures in enhancing that everything from fashion startups, financial technology to artificial intelligence e have thrived in the technology industry.

Conclusion

London as a city has facilitated the growth of high tech solutions. The technology practices in the businesses have addressed their challenges and given them more opportunities through presenting the digital transformation.  In the current world, everything is technology enabled, For this reason. They have delivered technological solutions that have enabled other business to grown and compete effectively. This has enabled the business take advantage of the economic conditions and shifted the technological advancements and the behavior patterns.

 

 

References

Baker, J., 2012. The technology–organization–environment framework. In Information systems theory (pp. 231-245). Springer New York.

Burgel, O. and Murray, G.C., 2000. The international market entry choices of start-up companies in high-technology industries. Journal of International Marketing, 8(2), pp.33-62.

Coad, A. and Rao, R., 2008. Innovation and firm growth in high-tech sectors: A quantile regression approach. Research Policy, 37(4), pp.633-648.

Hagedoorn, J. and Duysters, G., 2002. The effect of mergers and acquisitions on the technological performance of companies in a high-tech environment. Technology Analysis & Strategic Management, 14(1), pp.67-85.

Revest, V. and Sapio, A., 2012. Financing technology-based small firms in Europe: what do we know?. Small Business Economics, 39(1), pp.179-205.