AI and logistics to the fore

In the strategy, the government has identified 4 Grand Challenges:
    •    Future of mobility - the movement of people, goods and services
    •    Artificial intelligence 
    •    Clean growth 
    •    Ageing society 

Prime Minister Theresa May said: “As we leave the European Union and forge a new path for ourselves, we need to focus on building a better future for our country and all the people who live in it. With the Budget last week, and our Industrial Strategy in the years ahead, we will build a Britain fit for the future.”

The white paper follows extensive engagement by government with industry, academia and business bodies who submitted almost 2,000 responses to the green paper consultation earlier in 2017.

The plan includes an ambition to increase investment in R&D from 1.7% of GDP to 2.4% of GDP by 2027.

The strategy also unveiled an increase in the rate of R&D tax credit to 12%; and an investment of £725 million in a new Industrial Strategy Challenge Fund programmes to capture the value of innovation.

You can read the full Report here.