Chancellor expected to inject £75m into AI, as only 1 in 10 business leaders see UK as a leader in digital
UK’s investment in AI and digital technology needs more focus on business competitiveness, says World Wide Technology
London, 21.11.17 – Only one in ten business leaders see the UK as a leader in digital, according to the latest survey by Deloitte. Although 85 per cent plan to invest in AI and the Internet of Things (IoT), only 22 per cent of businesses have so far.
The chancellor’s new budget, announced on Wednesday, is expected to allocate £75m into AI, and £76m into digital and construction skills. Encouraging investment in technologies like AI and the Internet of Things is massively important to UK productivity. But to make the most of the hype, AI and other new technologies need to be implemented with clear and specific business objectives in mind, says World Wide Technology.
Ben Boswell, VP Europe at World Wide Technology of World Wide Technology continues: “AI and IoT technologies have the capacity to offer real productivity improvements to businesses. We’ve recently seen a manufacturer in the US on track to achieve $1 billion in savings by the end of the year using predictive analytics, which rely on these capabilities.
“The UK stands to benefit too, if it can get the investment into new innovations right. With new challenges to global competitiveness following Brexit, this kind of advantage could be crucial. Spend on AI and digital technologies is currently only a very small percentage of overall IT budgets.
“Although AI is regarded as the most disruptive of new digital technologies, the hype must not lead government or businesses astray into making investments which aren’t aligned to outcomes.
“Digital technologies hold massive potential, but they need to be planned properly. New innovations should be implemented alongside strategic business goals aimed at increasing efficiency and boosting productivity.”
About World Wide Technology
World Wide Technology (WWT) is a technology solution provider with more than $9 billion in annual revenue that provides innovative technology and supply chain solutions to large public and private organizations around the globe.
Through its culture of innovation, WWT inspires, builds and delivers business results, from idea to outcome. It has won a number of accolades from the likes of Glassdoor, Fortune and Best Place to Work, recognising the inclusion and diversity within WWT’s workplace. WWT is one of America’s largest minority owned businesses.
WWT works closely with industry leaders including Cisco (NASDAQ: CSCO); Dell Technologies (NYSE: DVMT); Hewlett Packard Enterprise (NYSE: HPE); Microsoft (NASDAQ: MSFT); NetApp, Inc. (NASDAQ: NTAP); VMware; AT&T Inc. (NYSE: ATT); Boeing (NYSE: BA); and the U.S. Air Force.
WWT employs more than 4,000 people and operates over 2 million square feet of warehousing, distribution and integration space in more than 20 facilities throughout the world.
For more information about World Wide Technology, visit www.wwt.com.