Tuesday 24 May 2022 6:00 am
The capital’s infrastructure, deep highly-skilled expertise pool and widespread adoption of recent technology led to it holding its prime spot, in keeping with Z/Yen Group’s fifth version of the Smart Cities Index
London has beat its rivals on the Continent to retain its crown as Europe’s most technologically superior metropolis, analysis shared with City A.M. reveals.
The capital’s infrastructure, deep highly-skilled expertise pool and widespread adoption of recent technology led to it holding its prime spot, in keeping with Z/Yen Group’s fifth version of the Smart Cities Index.
Zurich, which climbed three locations to fourth, was its closest competitor in Europe, adopted by Copenhagen, which completed fifth.
Despite topping the European rankings, London got here second within the general desk, lacking out on the highest cease to New York.
The recent analysis underscores the capital has defied gloomy forecasts predicting Brexit would knock its competitiveness.
Z/Yen final month additionally stated London’s deep inexperienced finance market and its excessive use of renewable power to energy the Square Mile led it to prime the ninth version of the agency’s Global Green Finance Index.
Embedding technology in London’s infrastructure and the operations of companies primarily based in capital means it’s properly positioned to enhance on current success, analysts stated.
Professor Michael Mainelli, govt chairman of Z/Yen Group, stated: “Innovation in technology and science arises from calculated serendipity, bringing collectively proficient folks to seek out new methods to take a look at and work together with the world.”
“Global centres that create areas and locations for folks to assemble and prolong the attain of our technological growth would be the business success tales of the long run,” he added.
The capital’s vibrant fintech scene has boosted its technological credentials.
Challenger banks Monzo and Revolut are headquartered in London and the capital has pushed better use of AI instruments in monetary providers via steering initiatives such as open banking.
A welcoming enterprise setting and its repute as a world enterprise hub additionally helped London retain its prime spot in Europe.
Its versatile labour market has meant it’s nonetheless a beautiful place to do enterprise as companies can rapidly rent highly-skilled staff.
“Combin[ing] a excessive performing college sector throughout STEM topics, with well-developed regulatory, business, and monetary providers” helped London clinch prime spot, Z/Yen Group stated.
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