January 21, 2018

AI and mobility named as key challenges in Industrial Strategy

29 November 2017, 01:08 | Kara Nash

Construction wins government backing for productivity boost

AI investment CAGR 2010 2016

"But any serious strategy should address the weaknesses that stop us achieving our potential, as well as our strengths, and this Industrial Strategy does that", he said.

The white paper, building on the Budget announced last week by Chancellor Philip Hammond, recognises the Bank of England's assessment that improved management and leadership is a key factor in boosting productivity; it acknowledges that poor management skills could account for a quarter of the productivity gap between the United Kingdom and the US.

As part of the announcement, it has committed to investing a further £725 million over the next three years in the Industrial Strategy Challenge Fund (ISCF), to help respond to the challenges and opportunities faced by the UK. "Raising digital literacy goes hand in hand with maintaining and building on productivity gains in the industry, that continue to outpace the United Kingdom average, and supports the Government's aspiration of a digital economy that works for all".

Theresa May, UK Prime Minister said the Industrial Strategy "will help propel Britain to global leadership of the industries of the future - from artificial intelligence and big data to clean energy and self-driving vehicles" "As we leave the European Union and forge a new path for ourselves, we need to focus on building a better future for our country and all the people who live in it".

While CMI did welcome the increased funding for apprenticeships that is included in the white paper, Wilton said the government's Industrial Strategy still did not go far enough in linking improved management skills with better productivity.

"The government must ensure they seek joined up cross party buy in if the Industrial Strategy has any chance to become sustainable and succeed in the long term".

To support rapid adoption of AI technologies at scale, government plans to create an Office for AI which will work initially with six priority business sectors: cybersecurity; life sciences; construction; manufacturing; energy; and agricultural technology.

3 killed, 9 injured as passenger train derails in northern India
Railway Minister Piyush Goyal expressed grief over the accident and extended his condolences to the families of the deceased. The nation today woke up to the news of yet another train accident in Uttar Pradesh which has now become a frequent affair.

The white paper notes that the government "will aim to maximise United Kingdom businesses' share of the global markets as they are transformed by the shift to clean growth, and make our country one of the best places in the world to develop and sell clean technologies".

As for the "Future Mobility" challenge, the Government repeated the measures announced in last week's Autumn Budget, which include multiple investments in clean mobility: £400 million Charging Infrustructure Fund and a £100 million Plug-in Car Grant. "The NHS has a proud history of spearheading medical innovation and today's investment in our strong and growing life sciences sector will see patients in the United Kingdom continue to benefit from world-leading research and pioneering medicines". "This white paper is a great start".

The Industrial Strategy is meant to push the United Kingdom towards the forefront of the data-driven revolution.

"There is still plenty to do, including supporting those millions of small businesses not yet taking advantage of basic tech", he said.

"Addressing the UK's well-documented digital skills gap remains a major obstacle to overhauling the productivity slump".

"While it's pleasing to see steps being taken to invest in the fourth industrial revolution, much more needs to be done to encourage the take-up and development of skills that will be needed to see it through".

Other News

Trending Now

Winter Session of the Parliament to start from December 15, 2017
The minister further stated that the ensuing Winter Session will have a total of 14 sittings over a duration of 22 days. The CCPA's recommendations will now be forwarded to President Ram Nath Kovind.

There is Good News to Share About Coffee!
The latest study builds on that research but calls for more randomised controlled trials to further understand the correlation. Increasing consumption to above three cups a day was not associated with harm, but the beneficial effect was less pronounced.

LeBron James hopes Derrick Rose finds peace with decision over National Basketball Association future
Rose has averaged 14.3 points, 2.6 rebounds and 1.7 assists in seven games this season. "I'm just trying to figure it out, bro". According to ESPN , Rose has not communicating with people close to him inside the Cavs organization in the last few days.

Why Barcelona are having doubts about signing Mesut Ozil from Arsenal
According to Spanish media outlets, Ozil wants to quit the Emirates for the Nou Camp, but wants around £17m-a-year in wages. Arsenal boss Arsene Wenger could be pliable to the situation, too, with Ozil only having eight months left on his deal.

Donald Trump Slams CNN International, Touts Loony Conspiracy Website
Well with US President's Twitter habits, there is no tiresome day on the social media. Their reporting prompted the United Nations to open an investigation into the matter.

Shopping small pays big, keep it growing Saturday
So much thought is put into giving the shopper an experience that makes them feel connected to the community, a part of something. The gift basket's contents vary, but the organizers have plans for gift certificates from chamber members and other goods.

CBS, Dish Network reach agreement resolving content fee dispute
Besides rallying the TV remote soldiers, the site offers a glimpse into Dish and CBS's tense negotiations. CBS told Deadline "we remain far apart on terms" and stated Dish was "desperate to retain subscribers".

Steep hike in metro fare will kill Delhi Metro, says Kejriwal
The latest data on Metro ridership has been obtained by news agency PTI through a right to information (RTI) query. DMRC effected the fare hike on 10 October, leading to a rise of around Rs 10 for almost every distance slab.

BYU Women's Volleyball: Lucky 13 again for Cougars in NCAA Tournament
The Pioneers' current RPI (55) is the highest end-of-season RPI in program history, which earned them a No. 3 seed in the region. The tournament's semifinals and finals will be held December 14 and 16 at the Sprint Center in Kansas City, Missouri.

Unions Call for ILO Convention on Gender-Based Violence
Nearly half of the women who were killed in 2012 were killed by either partners or family members, compared to 6% of men. Together we can ensure that women and girls everywhere can live free of violence.