Within weeks of releasing our first episode on the importance of the technology industry to the UK economy, a Chinese AI start-up called ‘DeepSeek’ released DeepSeek-R1, a generative AI model. Its release hit financial markets, stock prices, and is now poised to influence the global economy and the speed that AI can change the way our world operates. Why? Because ‘DeepSeek’ was created at a fraction of the cost of previous models. Filmed in March, we asked our host Ben Bilsland and Tom Pugh, RSM UK’s Chief Economist, to sit down again to unpick what this means, not only for the geopolitical consequences but also to ask whether this is a ‘game changer’ moment or rather just the natural process of innovation. And whether it’s a kind of innovation UK tech businesses will be able to replicate.

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Watch Ben and Tom's first episode

For more insight from Tom on the economy read our 'Economic Voice'

📖 chapters

Introduction 00:00:00 - 00:01:28

Why was DeepSeek revolutionary? 00:02:29 - 00:04:46

Why did the market react in the way they did to DeepSeek? 00:04:47 - 00:09:37

Can UK tech firms catch up in the AI race? 00:09:38 - 00:12:18

Does DeepSeek change the impact of AI? 00:12:19 - 00:15:29

Can the UK government encourage AI development? 00:15:30 - 00:19:16

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