Just one week after Facebook founder Mark Zuckerberg gave evidence to US Congress following the Cambridge Analytica fiasco, some 51% of those involved in the London tech sector say public trust in the industry has hit an all-time low.
That’s according to new research unveiled today by Tech London Advocates, a private sector network headed by Russ Shaw.
According to the findings, some 89% of tech leaders said they believe tech companies are having a positive social impact on the city and increasing equality. Tech professionals cited job creation (35%) and economic contribution (30%) as the most important ways the industry is having a positive impact in the UK’s capital city.
TLA’s survey polled over 250 members, and is included in a new report by the network to highlight its fifth anniversary– 2023: The Future of London Tech (2).
The report outlined 10 objectives London tech needs to fulfil in order to become a globally significant tech hub.
The objectives include creating a new Secretary of State for Digital, attracting $6bn into London-based tech firms annually and tech companies committing 1% of their profits to social initiatives and local communities.
VCs partner in bid to tackle tech’s diversity problem
Alongside this, the report also highlights the need to increase digital skills, with Tech London Advocates claiming the city needs to aim to employ one million tech workers by 2023, triple London’s capacity to produce computer science graduates and target 33% gender diversity in the workforce.
Russ Shaw, founder of Tech London Advocates & Global Tech Advocates,said: ‘There is a clear disparity between the positive potential of technology and public perceptions in the industry. I want to galvanise the private sector in London tech and beyond to celebrate the positive impact tech companies have on the city’s people, society and economy.”
“Over the past five years, Tech London Advocates has given a voice to the tech sector around some of the biggest challenges facing the industry. Today’s report shows how we maintain London’s position as a global tech hub and outlines what we need to achieve to continue our success.”