00:00Today, I can announce three new reforms to boost competition and make the UK a top destination for global capital.
00:08First, we will consult on a cross-economy AI sandbox, modelled on the success of the FCA's pioneering fintech sandbox,
00:18to allow new AI products to be developed under supervision by regulators,
00:23accelerating approvals for the use of AI in sectors like legal services,
00:27planning assessments and advanced manufacturing, and I want to thank Liz Kendall for her work in that area.
00:34Second, the Civil Aviation Authority will publish an Investor Roadmap,
00:39outlining the steps to launching commercial drone operations by 2027,
00:44technology that has the potential to generate up to £66 billion in business revenues over the next 25 years,
00:51and transform everything from surveying sites for development to delivering blood supplies for the NHS,
00:59as already trialled at Guy's and St Thomas'.
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