Fourth Industrial insurrection could unlock 445 billion pounds for United Kingdom, report divulges

Fourth Industrial insurrection could unlock 445 billion pounds for United Kingdom, report divulges

Fourth Industrial insurrection could unlock 445 billion pounds for United Kingdom, report divulges

The Greater Lincolnshire Local Enterprise Partnership has today welcomed a report which calls on the United Kingdom to lead the Fourth Industrial Revolution by embracing digital technology.

In particular, technologies linked to the idea of "Industry 4.0", such as robotics, 3D printing and Artificial Intelligence were all backed by the "Made Smarter" report, headed up by Jurgen Maier, the head of Siemens UK, who said that the UK needs "greater ambition" to grab the advantage of the benefits brought by the technology.

Introducing the review, Maier commented: "We have answered the call of government to set out a vision for growth and increased productivity".

"The UK must compete with China, the U.S. and much of Europe where there are already advanced plans to embrace the fourth industrial revolution".

A report that accompanies the review sets out industry-led recommendations that should be implemented to help make the United Kingdom a world leader in the so-called Fourth Industrial Revolution by 2030. The current value of AM in the United Kingdom is worth about £300 million, employing approximately 35,000 people but a recent survey found that only 17% of United Kingdom companies have any experience with SAM compared to 37% in Germany.

"Government and industry must work together to seize the opportunities that exist in this sector and promote the benefits of adopting emerging digital technologies, as well as cutting edge business models".

The recommendations made by the committee could help form the government's new industrial strategy plans.

It says industrial digitalisation technologies (IDTs) are capable of "improving the resource efficiency of the UK's industrial base, making it more resilient to global resource supply disruptions and reducing its environmental impact through more efficient manufacturing and industrial processes and more optimised supply chains".

The report is the result of eight months' work and sets out why and how the United Kingdom can embrace new technology and become a world leader in digital tech. These were joined by academics from universities like Newcastle and Cambridge.

"Our proposals will help business understand, deploy and create the latest digital technologies, helping to secure more homegrown research and development and the creation of new industries and highly skilled, well-paid jobs".

Other business representatives to have worked on the Industrial Digitalisation Review include Sir Charlie Mayfield (Chairman, John Lewis Partnership), Phil Smith (Chairman, Cisco UK & Ireland), Carolyn Fairbairn (Director General, CBI), David Stokes (CEO UK & Ireland, IBM), Oliver Benzecry (CEO of Accenture UK), Roger Connor (Head of Global Manufacturing, GSK), and Nigel Stein (CEO of GKN).

The report has been welcomed by companies across the United Kingdom, which fear the country falling behind when it comes to industrial technology. He stated that the United Kingdom needed to "catch up with worldwide competitors". "There are coherent government strategies in place in most developed countries, for example in Germany (Industrie 4.0), China (Made in China 2025), and the USA (America Makes)".

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