The Smart Centres Index explores the ability of global commercial centres to create, develop, and deploy technology. Leading centres in the SCI are based in places which combine an innovative, cultural centre with a high-performing university sector across STEM subjects, supported by a well-developed regulatory, commercial, and financial services.

SCI 8 Results

• Most centres in the top half of the table fell in the ratings, while the reverse is true for centres in the lower half of the index.
• Regional performance followed this trend, with Western European and North American centres’ average rating falling reflecting the higher number of centres in these regions in the top half of the ranking.
• London retained first place in the index, with New York and Singapore in second and third positions.
• Four Western European centres feature in the top 10, and three from the US. Singapore and Hong Kong feature in the top 10 among Asia/Pacific centres and Tel Aviv continues to feature in the top 10.
• Four centres rose 10 or more places in the ranking in SCI 8, while five centres fell 10 or more places.
• Following a rise in the average ratings in SCI 7, the average rating in SCI 8 rose by just 0.47%. Against a background of geopolitical threats, this may reflect uncertainty over the perceived risks and uncertain types of benefits arising from technologies such as generative AI.

As a mark of continued technological progress, we asked respondents to the SCI survey to predict the time frame over which they expected quantum computers to be able to break current public key encryption. Over three-quarters of respondents expect this point to be reached within five years . Alongside the development of generative AI, these developments increase will continue to have an impact on work and leisure.

The top 20 centres in SCI 8 are shown in the table below:

Full details of SCI 8 can be found at www.smartcentresindex.net.

Mike Wardle, Chief Executive of Z/Yen, said:

“We continue to see the impact of technology on all aspects of our lives. Whether it is the use of generative AI, developments in life sciences, harnessing new materials, or technology to address sustainability, the deployment of innovative technologies is driven by commercial centres across the world. Their success will continue to drive the response to the challenges we face internationally and in our communities.”

We invite all those with an interest in the development of innovation and technology centres to take part in SCI 9 by rating the financial and commercial centres you know on our continuously running survey – www.smartcentresindex.net/survey/.

ENDS

Notes For Editors

About SCI 8

The SCI is a factor assessment index, combining a number of instrumental factors - data measures drawn from a range of data providers across the world - and assessments given by business and finance professionals of three dimensions related to innovation and technology in major commercial and financial centres:

• Innovation Support - the approach taken to regulation and support for the innovation and technology industry provided by the commercial ecosystem.
• Creative Intensity - the extent to which technology and innovative industries are embedded in the economy of the centre.
• Delivery Capability - the quality of the work being undertaken in the field in the centre.

These dimensions are brought together in the overall SCI ratings to produce the index, which is updated every six months. SCI 8 was compiled using 135 instrumental factors. These quantitative measures are provided by third parties including the World Bank, The Economist Intelligence Unit, the OECD, and the United Nations. The instrumental factors were combined with 1,705 assessments provided by 232 respondents to the SCI online questionnaire.

To find out more about sponsorship opportunities, joining the Vantage Financial Centres network, further research, and bespoke reports on individual financial centres, please contact us.

Previous Editions

Previous editions of the SCI can be accessed at https://www.longfinance.net/programmes/financial-centre-futures/smart-centres-index/publications/

Z/Yen & Long Finance

Z/Yen is the City of London's leading commercial think-tank. It was founded in 1994 to promote societal advance through better finance and technology (www.zyen.com). The SCI is part of Z/Yen’s research into economic centres alongside the Global Financial Centres Index and the Global Green Finance Index.

For more information please email Mike Wardle at mike_wardle@zyen.com or phone on +44 (0) 7880 737319.