UK Unveils 10-Year Industrial Strategy: Boosting Advanced Manufacturing, Clean Energy, and AI Adoption
2 Sources
2 Sources
[1]
UK backs advanced manufacturing, clean energy in ten-year industrial plan
LONDON, June 23 (Reuters) - Britain aims to cut the electricity bills of thousands of companies from 2027, the key reform in its industrial strategy for the next decade, which it published on Monday, opens new tab. The main parts of its plan are below. ADVANCED MANUFACTURING Investment of up to 2.8 billion pounds ($3.76 billion) in R&D programmes over the next five years to spur innovation, automation, digitisation and commercialisation. CLEAN ENERGY INDUSTRIES Britain is targeting at least a doubling of current investment levels across the clean energy industries to over 30 billion pounds per year by 2035. CREATIVE INDUSTRIES Establish a 150 million pound growth fund and financial support for screen, music, and video games. LIFE SCIENCES Make Britain one of the world's top three life sciences economies through reforms and investment, including up to 600 million pounds for a Health Data Research Service to create an advanced, secure, and AI ready health data platform. PROFESSIONAL AND BUSINESS SERVICES The government said it was including the sector in a national industrial plan for the first time as it seeks to build on the UK's strengths in areas such as accountancy, legal services and management consultancy. It said it would help fund the adoption of artificial intelligence, negotiate with other governments for mutual recognition of professional qualifications to boost exports and launch five new professional business services hubs in England and Scotland. DIGITAL AND TECHNOLOGY Britain wants to become one of the top three places in the world for developing technology businesses, promising reforms to boost R&D and skills, improve regulation and collaborate more closely with the private sector and other nations. It said it would prioritise frontier technologies such as advanced connectivity, artificial intelligence, cyber security, engineering biology, quantum technologies and semiconductors. EU COOPERATION Britain said it planned to cooperate more with the European Union on energy and carbon pricing to remove red-tape, making it easier for business to trade and enabling investment in projects in the North Sea. "We will both explore the UK's participation in the EU's internal electricity market and continue technical regulatory exchanges on new energy technologies," the strategy said. ($1 = 0.7437 pounds) Reporting by UK bureau Our Standards: The Thomson Reuters Trust Principles., opens new tab Suggested Topics:CybersecuritySustainable MarketsClimate ChangeClimate Solutions
[2]
UK backs advanced manufacturing, clean energy in ten-year industrial plan
LONDON (Reuters) -Britain aims to cut the electricity bills of thousands of companies from 2027, the key reform in its industrial strategy for the next decade, which it published on Monday. Investment of up to 2.8 billion pounds ($3.76 billion) in R&D programmes over the next five years to spur innovation, automation, digitisation and commercialisation. CLEAN ENERGY INDUSTRIES Britain is targeting at least a doubling of current investment levels across the clean energy industries to over 30 billion pounds per year by 2035. CREATIVE INDUSTRIES Establish a 150 million pound growth fund and financial support for screen, music, and video games. LIFE SCIENCES Make Britain one of the world's top three life sciences economies through reforms and investment, including up to 600 million pounds for a Health Data Research Service to create an advanced, secure, and AI ready health data platform. PROFESSIONAL AND BUSINESS SERVICES The government said it was including the sector in a national industrial plan for the first time as it seeks to build on the UK's strengths in areas such as accountancy, legal services and management consultancy. It said it would help fund the adoption of artificial intelligence, negotiate with other governments for mutual recognition of professional qualifications to boost exports and launch five new professional business services hubs in England and Scotland. DIGITAL AND TECHNOLOGY Britain wants to become one of the top three places in the world for developing technology businesses, promising reforms to boost R&D and skills, improve regulation and collaborate more closely with the private sector and other nations. It said it would prioritise frontier technologies such as advanced connectivity, artificial intelligence, cyber security, engineering biology, quantum technologies and semiconductors. EU COOPERATION Britain said it planned to cooperate more with the European Union on energy and carbon pricing to remove red-tape, making it easier for business to trade and enabling investment in projects in the North Sea. "We will both explore the UK's participation in the EU's internal electricity market and continue technical regulatory exchanges on new energy technologies," the strategy said.
Share
Share
Copy Link
The UK government has announced a comprehensive 10-year industrial strategy, focusing on advanced manufacturing, clean energy, and technology sectors. The plan includes significant investments in R&D, AI adoption, and cooperation with the EU on energy markets.
UK's Ambitious 10-Year Industrial Strategy
The United Kingdom has unveiled a comprehensive 10-year industrial strategy aimed at boosting its economy through investments in advanced manufacturing, clean energy, and technology sectors. The plan, published on Monday, outlines several key initiatives to position the UK as a global leader in innovation and sustainable development
1
2
.
Source: Reuters
Advanced Manufacturing and R&D Investment
At the heart of the strategy is a significant investment in research and development (R&D) programs. The UK government has committed up to £2.8 billion ($3.76 billion) over the next five years to spur innovation, automation, digitization, and commercialization in advanced manufacturing
1
. This substantial funding is expected to drive technological advancements and enhance the country's competitive edge in global markets.Clean Energy and Sustainability Goals
The industrial strategy places a strong emphasis on clean energy industries, with the UK targeting a doubling of current investment levels to over £30 billion per year by 2035
1
2
. This ambitious goal underscores the government's commitment to sustainable development and its efforts to combat climate change while fostering economic growth in the green energy sector.Technology and Digital Transformation
In a bid to become one of the top three places globally for developing technology businesses, the UK plans to prioritize frontier technologies such as artificial intelligence (AI), cybersecurity, quantum technologies, and semiconductors
1
. The strategy outlines reforms to boost R&D, improve skills, enhance regulation, and foster closer collaboration with the private sector and other nations.AI Adoption and Professional Services
The industrial strategy recognizes the importance of AI across various sectors. In the professional and business services sector, which is included in a national industrial plan for the first time, the government will help fund AI adoption
1
2
. This initiative aims to build on the UK's strengths in areas such as accountancy, legal services, and management consultancy.Related Stories
Life Sciences and Health Data
The strategy also targets the life sciences sector, with the goal of making Britain one of the world's top three life sciences economies. A key component of this plan is the allocation of up to £600 million for a Health Data Research Service, which will create an advanced, secure, and AI-ready health data platform
1
2
.Creative Industries Support
Recognizing the importance of creative industries, the strategy establishes a £150 million growth fund to provide financial support for screen, music, and video games sectors
1
2
. This investment aims to nurture and grow the UK's already strong creative economy.EU Cooperation on Energy
In a notable development, the UK plans to increase cooperation with the European Union on energy and carbon pricing. This collaboration aims to reduce red tape, facilitate easier business trading, and enable investment in North Sea projects
1
2
. The strategy specifically mentions exploring UK participation in the EU's internal electricity market and continuing technical regulatory exchanges on new energy technologies.This comprehensive industrial strategy demonstrates the UK's commitment to fostering innovation, sustainability, and economic growth across multiple sectors, with a particular focus on leveraging advanced technologies and clean energy solutions.
References
Summarized by
Navi
[2]
Related Stories
Weekly Highlights
1
Anthropic Secures $13B in Funding, Reaching $183B Valuation Amid AI Industry Boom
Business and Economy
2
Tesla Proposes $1 Trillion Pay Package for Elon Musk Tied to Ambitious AI and Robotics Goals
Business and Economy
3
Anthropic's $1.5B AI Copyright Settlement: A Landmark Deal Under Scrutiny
Policy and Regulation
Weekly Highlights
Explore today's top stories
Your Daily Dose of Curated AI News
Don’t drown in AI news. We cut through the noise - filtering, ranking and summarizing the most important AI news, breakthroughs and research daily. Spend less time searching for the latest in AI and get straight to action.
