Industry 4.0 could unlock £445bn for UK and create 175,000 jobs

3522323
3522323

Over 10 years, industrial digitalisation could boost UK manufacturing by £455 billion, according to a new government commissioned review. This boost could increase sector growth up to 3% per year; creating a net gain of 175,000 jobs.

Chaired by Siemens UK CEO Juergen Maier, the publication of the ‘Industrial Digitalisation Review’ unveils industry proposals to boost the UK’s manufacturing sector

The review outlines proposals to boost the economy using advanced digital technologies including robotics, 3D printing, augmented and virtual reality as well as artificial intelligence.

The Government’s Industrial Strategy Green Paper, launched in January 2017 identified industrial digitalisation as one of five potential early sector deals, and the review kick started work with stakeholders to identify opportunities for how government and industry can work together.

The review brings together input and recommendations from over 200 stakeholders, including companies such as Rolls Royce, GKN, IBM, and Accenture. The review took substantive input from SME’s such as Yamazaki Mazak and Vertizan as well as academic institutions including the University of Newcastle and the University of Cambridge. R&D centres of excellence, the Digital Catapult and High Value Manufacturing Catapult also co-designed the proposals.

Mr Maier said: “The business and academic community has set out a vision for much greater ambition needed for Britain to be a world leader in the fourth industrial revolution. Industry is committed to working in partnership with government, and this combined package of measures will boost UK growth and productivity in manufacturing and provide more exports and increased earning potential, which our economy desperately needs.

“Our ‘Made Smarter’ proposals will help business understand, deploy and create the latest digital technologies, helping to secure more homegrown R&D and the creation of new industries and highly skilled well paid jobs. The proposals build on the UK’s natural technology strengths, whilst setting out a framework to encourage entrepreneurs to develop new technologies that help manufacturers.

“I look forward to working with government to consider the recommendations, including those that can be taken forward as part of an ambitious sector deal.”

Siemens UK www.siemens.co.uk

Company

Made Smarter

Related Articles

Smart factories not enough for sector to reach Industry 4.0

Smart factories alone are not enough if the global manufacturing sector is going to fully embrace the opportunities presented by Industry 4.0. Instead, businesses need to concentrate their efforts on creating smart value chains, which connect people, products and communities.
7 years ago News
Most recent Articles

Renishaw highlights career pathways in engineering

There is not one singular blueprint that can lead to a career in the engineering industry. It offers a variety of roles, open to people from diverse backgrounds. To highlight the diversity of skills and experiences in engineering, global engineering technologies company, Renishaw, has created the ‘Employee perspectives’ series.
4 hours ago News

Login / Sign up