Why Research and Development Will Always Be Crucial
Blog post from Speechmatics
At Speechmatics, we aim to unlock human potential and increase inclusivity in speech recognition engines by integrating self-supervised learning into our technology. This advancement is made possible through the research and development of our machine learning team. The UK government's announcement of increased R&D budget credit was followed by proposed tax cuts that could block startups from investing and growing, which would negatively impact Speechmatics' business and investment in its own technology. Despite this, a letter from SME business leaders may yet see the cuts overturned, and universities are also concerned about the long-term damage R&D cuts can bring to their workforce and innovation ecosystem. The company believes that the government's contribution to R&D funding should not decrease further, as it is currently around £3.1bn, which contributes 22% of total R&D funding in the UK.
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