UK Manufacturers must invest in Smart Tech

• Following a recent Government review on industrial digitisation, Barclays cautions that failure to adopt ‘fourth industrial revolution’ technologies will be a lost opportunity for manufacturers
• 83% of manufacturers are confident about Britain’s ability to compete on an international scale over the next five years, yet many are putting off necessary investment in transformative tech and blaming a lack of skilled workers for the delay (21%)
• New Barclays manufacturing report predicts that the cost to the British economy could be as much as £102bn per year – double the Government’s forecast
• Additionally, 101,000 jobs would be created in the next 10 years if manufacturers invest in smart factory technologies