Director of Tech and Innovation, techUK
In a digital revolution, the ability to harness technology has become integral to business success. Organisations that embrace data-driven processes and invest in technologies will be more efficient and profitable.
The benefits of digital transformation extend to businesses of all sizes across every sector of the economy. From global corporations to SMEs, organisations are harnessing the power of technology to streamline processes, make faster decisions and deliver new products and services.
Why is digital transformation important for the UK?
According to research by AWS and Public First, boosting technology adoption and strengthening our digital skills could add £413 billion to the UK economy by 2030.
For a business, this means applying innovation to real-world problems, turning scientific breakthroughs into new products and services and making better use of data to work more efficiently. This has a clear correlation with increased productivity — a challenge that has uniquely affected UK businesses since the late 1980s, according to the University of Sheffield.
Data can enable sustainability
Data is the lifeblood of modern businesses, and digital transformation provides the tools to harness its value and unlock both productivity and profits. The opportunities of cloud and edge computing, artificial intelligence, the internet of things and 5G extend far beyond modernising administrative software or selling on an e-commerce platform, although these can be a great place to start your digital journey. Applying AI, IoT and data analytics can help a manufacturing business optimise processes, reduce costs, accelerate time-to-market and be more sustainable.
Data is the lifeblood of modern businesses.
Benefits of digital across industries
In agriculture, digital solutions provide farmers with insights into weather patterns, soil conditions and crop health. Real-time tracking and automation are revolutionising the way goods are moved in the logistics industry, increasing safety, reducing congestion and cutting costs. There is also untapped potential in the NHS, local government and education — to deliver better and more efficient public services to local communities across the UK.
Addressing barriers to successful implementation
Securing the full economic potential of digital transformation is not without barriers, including an urgent digital skills gap and access to investment for scale-ups and SMEs. If we can solve some of these challenges, we can boost productivity and economic growth.
Accelerating the pace of digital transformation is imperative for UK competitiveness and emphasis has been placed on science and technology by the UK Government. However, we will only see the full benefits of cutting-edge science when that innovation is applied in businesses across the UK.