General Insurance Article - Support for Budget measures on autonomous vehicles


The DRIVEN consortium welcomes the support announced in the Budget by the Chancellor of additional regulatory changes and financial support to aid further development of autonomous vehicles.

 Speaking on the announcement, Oxbotica CEO and DRIVEN consortium leader Graeme Smith said: “This support demonstrates that the government continues to be serious about ensuring the UK is an amazing place to develop autonomous vehicle technology. The ground-breaking research being undertaken by us here at Oxbotica and leveraged in our self-driving road trials within DRIVEN would not be possible without funding from central government"

 “Following our meeting with the Prime Minister and Chancellor last week, it is good to see the UK technology sector being encouraged to accelerate development of a technology that will undoubtedly change society. Government support here has the potential to be repaid many times over as well, in terms of new, high-skilled jobs, enormous export potential, and improved productivity. By announcing these new measures and getting behind the drive towards autonomy, the UK government is showing it is not afraid of what the future holds, and that it wants to see Britain leading us into it.”

 Last week, the DRIVEN consortium showcased its ground-breaking technology for the benefit of the Prime Minister and Chancellor of the Exchequer at Number 10 Downing Street. Graeme Smith and Professor Paul Newman, Director of the Oxford Robotics Institute (ORI), drove one of the specially modified cars to Downing Street and demonstrated the technology behind it all for Theresa May and Philip Hammond. This included part of the camera and lidar laser array that provides data to enable Selenium, the autonomous software at the heart of the car, to drive the vehicle.
  

Back to Index


Similar News to this Story

IPT receipts for 2024 to 2025 hits over GB7bn in January
According to this morning’s HMRC data, Insurance Premium Tax (“IPT”) receipts stood at £853 million in January 2025, bringing the 10-month total for t
Unlocking the potential of IFRS17 insights and opportunities
As mentioned in part one of this blog series, IFRS 17 has reshaped financial reporting for insurance contracts since its implementation on 1 January 2
Lack of expertise main barrier to AI adoption in insurance
A lack of expertise within insurance companies is the biggest challenge to implementing artificial intelligence (AI) technology. As AI has the potenti

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.