Meeting of the Parliament 25 January 2024
Today, as we celebrate the contribution of Rabbie Burns to the world, in this debate we can celebrate and discuss Scotland’s contribution to the world as a technology nation.
The world’s economy faces two extraordinary and arguably unprecedented and unavoidable forces. First, there is the critical need to transition from an economic model that is based on fossil fuels to one that is based on sustainable resources. Secondly, there is the need to rethink the way in which we live and work in order to harness the potential of artificial intelligence and other forms of new technology. Those forces are transforming our world and demanding collective leadership to steer a course through uncharted waters, and it will be an exciting voyage of discovery.
Scotland can face that journey with optimism. We are equipped with an abundance of natural resources, and universities and industry can provide opportunities to lead and break new ground, improve productivity, create new businesses and open new markets at home and around the world.
Scotland absolutely has the potential to be a leading nation in technology, science and world-class innovation. We start from a position of strength, with our tech sector employing more than 80,000 people and contributing around £6 billion to our economy—that figure has increased by an astounding 107.5 per cent since 2012.
With more than 700 life science organisations employing more than 42,500 people, Scotland is one of the largest life sciences clusters in Europe. Life sciences are worth £3 billion to the Scottish economy. The sector has achieved 8 per cent growth each year since 2010, and life sciences exports stood at £3 billion in 2019. Scotland is also home to 227 financial technology companies. The fintech cluster has seen a 24 per cent increase in jobs over the past two years and is breaking new ground in areas such as green finance and financial regulation.