Alina Timofeeva, a board member for the British Computer Society, has voiced serious concerns over the recent UK Budget’s potential effects on small businesses, specifically in the realms of AI security, cybersecurity, and innovation. “The heavier tax load on small businesses will likely reduce their investment in crucial areas like AI security, cybersecurity, and innovation,” Timofeeva cautioned, adding that this could expose them to increased cyber threats and slow innovation and growth.
Timofeeva highlighted several key actions for the government and the tech industry to help reduce these risks:
Government Initiatives:
- Enhanced Cyber Resilience and Media Literacy: Emphasise cyber resilience training and media literacy, focusing on strategies to combat deep fakes and enhance AI security.
- Targeted Support for SMEs: Establish a specialised support unit to assist small and medium-sized enterprises (SMEs) in building strong AI and cybersecurity frameworks.
- Increased Knowledge Sharing: Promote cross-industry sharing of best practices to encourage a collaborative approach to AI and cybersecurity.
Industry Collaboration:
- Accessible Cybersecurity Solutions: Encourage large tech firms to develop affordable AI and cybersecurity solutions tailored to small business needs.
- Standardised Tools and Frameworks: Advocate for standardised AI and cybersecurity tools, practices, and frameworks to streamline protection efforts and reduce costs for SMEs.
- Regulatory Support: Enable regulators to share best practices, case studies, and frameworks related to security, with an emphasis on AI and cybersecurity.
With 99.2% of UK businesses classified as SMEs, representing 61% of employment, prioritising AI and cybersecurity is essential for maintaining competitiveness in the global tech landscape.
“We hope to inspire SMEs to share their experiences in facing AI and cybersecurity challenges,” Timofeeva added. “Together, we can build a safer, more secure future.”
“Small businesses are the backbone of the UK economy,” Timofeeva stressed. “Investing in their cybersecurity fosters rapid innovation, protects their future, and ensures ongoing economic growth.”
