London ranks as the second most vibrant tech sector globally, according to the recent Z/Yen Smart Centres Index. The study, which evaluates cities’ capabilities in creating, developing, and deploying leading-edge technology, revealed that Zurich has surpassed San Francisco and Singapore to claim the top position.
The UK capital moved up one spot in the biannual study, overtaking San Francisco, which experienced a significant drop in the rankings. London narrowly missed the top spot by just three points, despite a 19-point increase since the last report in May. Singapore secured the third position, climbing six places and surpassing New York and Oxford.
San Francisco, home to Silicon Valley and tech giants such as Google, Microsoft, and Tesla, was one of the report’s biggest decliners, falling three places from its previous top ranking. This decline allowed Zurich to secure first place for the first time, bolstered by its thriving robotics and ‘deep tech’ sectors, which include advanced technologies like artificial intelligence and quantum computing.
Oxford and Cambridge, renowned for their prestigious universities, featured in the top 10 due to their status as global tech hubs. These cities host numerous university spin-offs, including Cambridge-based Arm and Darktrace, and Oxford Ionics, attracting highly skilled workforces and some of the world’s most advanced tech firms.
Professor Michael Mainelli, former Lord Mayor of London and chairman of Z/Yen, commented on the findings, noting that while AI continues to generate business interest and investment, centres with expertise in AI are not solely those experiencing investment booms. Emerging centres focus on foundational AI work, including research into statistical probity, intellectual property rights, information chain-of-custody, regulatory standards, data provenance, and ethics.
