Former FT editor Lionel Barber warning on the UK economy

He said Britain must become more business friendly with AI at its heart

Britain must not “succumb to a narrative of decline” and needs to embrace artificial intelligence after losing economic ground in the past 10 years, the former editor of the Financial Times has said. Lionel Barber, who was editor of the FT for 15 years until 2020, said Britain needs to be “a lot more business-friendly” after a series of blows to the corporate sector.

Its aims to become a global artificial intelligence (AI) hub are crucial in helping boost the UK’s standing as a global business centre, he said.

Mr Barber told the Press Association: “It’s very important that this country does not succumb to a narrative of decline. It needs to be a lot more business friendly.

“I think there have been some bad missteps – Brexit has been a massive distraction. And we lost ground in the last 10 years.”

His comments come after Mr Barber has been hired to a new specialist advisory board for US firm Capitol AI as it launches in the UK and Europe.

Lord Ed Vaizey – former culture and digital minister – has also been appointed to the group’s advisory board as the Washington-based firm beefs up its leadership in the UK to help ramp up expansion.

Capitol AI was founded in 2021 by Shaun Modi and Tom Hallaran to offer firms a “model-agnostic” agentic AI platform to help make sense of their own data and produce documents, reports, summaries and other products.

Mr Barber said he was keen to take on the role to support a tech start-up and “an exciting entrepreneur”, while also helping Britain become a home for cutting-edge AI businesses.

He told PA: “This country is trying to carve a role out for itself, so it’s AI friendly.”

This is helping attract firms such as Capitol AI to the UK, having just opened a new office in the UK, he said.

The firm has hired former Lockheed Martin and Dell executive Mike Nayler to run the UK office as it looks to build clients in the public and private sector.

Mr Barber said: “AI is at the heart of its business… so I’m backing a high-tech entrepreneur, but also this is cutting-edge technology. AI is coming, whether you like it or not.”