31 Oct 2017 08:49am

Industrial digitalisation could earn Britain £455bn

Industrial digitalisation could add a further £455bn to the UK economy and create 175,000 more jobs for the manufacturing industry

The adoption of Industrial Digital Technologies (IDT), such as artificial intelligence (AI), robotics, 3D printing and augmented and virtual reality could be the key to boosting productivity in Britain’s manufacturing industry, a government-commissioned report said.

Lead by Siemens UK chief executive Jürgen Maier, it brings forward several recommendations made with input from over 200 organisations, including Big Four firms PwC and KPMG.

The report urges the UK to capitalise on the “fourth industrial revolution”.

“Industry is committed to working in partnership with government through a sector deal to revive UK manufacturing, and firmly believes that only this combined package of measures, which go beyond business as usual and historical offerings, will achieve the level of ambition needed for the UK to be a world leader of the fourth industrial revolution,” said Maier.

Proposals set out in the review include the construction of a national digital ecosystem, which would be piloted in the North West and accelerate the innovation and diffusion of IDTs.

Also recommended in the review is the establishment of a national body, the Made Smarter UK (MSUK) Commission, which would be comprised of industry, government, academia and leading research and innovation organisations.

The responsibility of the commission would be to develop the UK as a leader for IDTs and skills, with a directive to develop the UK’s own Industry 4.0 domestic and global brand.