Technology is a strong factor that can drive economic growth. It contributes to the increasing productivity in business, and provides convenience to the public consumers. Moreover, it promotes innovations and further development of new technology to keep the cycle in progress.
This is why the UK government considers allocating enough funds to invest in “cutting-edge” technologies this 2017. The budget will be coming from the UK Spring Budget which has recently been approved. In the said budget, there is already a clear and definitive plan to invest in technologies such as 5G, batteries for electric vehicles, robotics, AI, and driverless technology.
5G technology is the next big thing in the field of information technology. Although there are now a few devices that are 5G enabled, this is still in its infancy as there are further studies and tests being undertaken before it becomes prevalent. It’s likely that 5G technology will become popular in the next four years.
Because of this, the UK government has already set aside budget for this as well. It has allocated £16 million for the facility that will be used to test 5G technology. The budget will also be used to collaborate with established 5G research institutions in order to further develop it.
5G technology is the future of the internet. Currently, the fastest internet connection we can have is 4G. When 5G is in place, we can now enjoy 360 degree streaming videos using augmented virtual reality (AR-VR). 5G is supposed to be 10 times faster than 4G.
To make it more possible, the UK government will invest £200 million to build new full-fiber broadband networks. This will help 5G service providers to further increase the internet speed. Along with the 5G, disruptive technologies will be integrated into the fabric of the economy.
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The UK government has listed a few technologies which it calls “disruptive technologies.” These technologies are:
- Driverless Vehicles
The government has allocated £270 million to invest in the said technologies. The aim of this project is not only to provide convenience to the public but also to “transform the economy” in general.
The plan for this budget is to develop high-tech batteries that can fuel a driverless vehicle. This type of vehicle will be used in public transportation. Moreover, the budget will also be used to construct infrastructure facilities designed to make driverless vehicles safer and more convenient.
The rest of the budget will be used to develop AI and robotic technologies, which can be used in jobs that are dangerous for humans and in hazardous areas and projects like nuclear energy, deep mining, space exploration, and medical experiments.
Part of the AI and robotic technology will use that of displacement mapping, which stems from that of displacement images. Once thought to be impossible to use this technology, Acuity Training points out, to create an image using displacement is far easier than you would think as this photoshop article clearly shows.
Although the blueprint for this plan still needs to be further discussed, the budget is already available meaning you shouldn’t be surprised if you see driverless vehicles on the road in the not so distant future.
The UK government’s plan to invest in “cutting-edge” technologies will assuredly have a great impact on UK economy, especially in the industries which may sooner utilize them. The budget may not be as big as that in other countries, though.
In the US, the investment for driverless technology alone has already reached £3.3 billion. Nevertheless, it’s still too early to measure the impact of the said UK budget, but this will be a great start.