Opinion: Utah's innovation blueprint can keep America ahead in the global tech race
A thriving culture of innovation and entrepreneurship is the foundation of the American spirit and has always powered our economic growth and global competitiveness in the 21st century.
Especially in these turbulent and unpredictable times, leaning on innovative technologies will be critical to our future economic prosperity. Innovation has allowed America to solve our most pressing problems — medical breakthroughs have saved lives, high-tech manufacturing has secured our supply chains and new advancements in defense technologies will help us achieve peace through strength.
America's leadership in technology, however, is at risk if policymakers do not adopt the right approach. Across the country, there have been movements advocating for heavy-handed regulatory measures in industries such as technology. These policies pose a significant risk to our thriving innovation ecosystem in emerging technologies like AI. Without a robust innovation sector, America is far more likely to struggle to maintain its competitive edge against China's rising influence.
China is pouring state-backed resources into its tech sector and cheating to get ahead by stealing American intellectual property. For this reason, I urge the entire federal delegation to take strong action against China to ensure that Utah and the U.S. continue to lead in AI and other tech innovations. To compete with China, sound policymaking at the federal level is vital, but it will also take the support of each state. We all have something unique to offer America in this innovation race, and as Utahns, we should be proud that our state is setting an example for other states to follow.
During my time as Senator Romney's chief of staff, I worked with Utah lawmakers to ensure that our policies lay a strong foundation for continuing to strengthen Utah's innovation capabilities and, in turn, the United States' capabilities.
Utah has smartly seized the opportunity to leverage technology to transform our economy. Our tech sector accounts for an estimated $22.5 billion in economic impact, and we're projected to have the highest tech growth in the country over the next 10 years. A new report also found that Utah ranks number one in innovation capacity due to our state's higher education, talented workforce, startup incubators and collaborative culture. Major tech players call Silicon Slopes home, and our universities are leading in research and development of things like air quality, health, physics, space and so much more. This has allowed cities such as Salt Lake City, Provo and Lehi to be in the same conversation as the mainstream innovation hubs of New York City and Silicon Valley.
With the emergence of artificial intelligence, our future potential is truly limitless. AI has the power to reshape entire sectors of the economy and further empower small businesses to thrive and grow. A U.S. Chamber of Commerce report found that 88% of small-business owners agree that AI has helped increase business efficiencies, and 91% of small businesses using AI are optimistic that it will support future growth. AI is also poised to add $19.9 trillion to the global economy, and startups, entrepreneurs, and small-business owners have much to gain from this technology and subsequent economic growth.
Utah's title of national innovation leader didn't happen by chance. It was a balance of prioritizing innovation, venture capital activity, supportive policymaking and investing in research and development. The same playbook must be mimicked nationally, as losing the title of global tech leader will have far-reaching implications.
The current chaos in our economy has made it even more critical for our Utah federal delegation to continue to be laser-focused on avoiding policies that undermine American innovation. Such policies will only weaken economic growth, the job market, small businesses and U.S. competitiveness. As Americans, we cannot consent to let our adversaries win in this battle, and in this instance, Utah can play a pivotal role in our success as a country.
By supporting U.S. technology companies both large and small, creating a business-friendly environment, and fostering a healthy venture capital ecosystem to invest in innovation and cutting-edge technologies, Utah can maintain its role as a national leader in a dynamic innovation ecosystem and help America maintain its global tech leadership title.
We must be smart and balanced in our approach to this industry, which is the backbone of our economy. Everything from our local economies to our global standing depends on it.
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