Martyn Landi
ROBOTS and driverless cars are among the “disruptive technologies” to receive additional funding, the Chancellor has said.
As part of his first Budget, Philip Hammond announced plans to “enhance the UK’s position as a world leader in science and innovation” by allocating £270 million to support research into “biotech, robotic systems and driverless vehicles”.
Driverless vehicle trials have already begun in several locations around the UK, including Milton Keynes and Greenwich in London.
The Chancellor also confirmed £16m will be used to create a hub for running trials into 5G connectivity, while £200m will be invested to fund local projects to test ways of accelerating the roll-out of full-fibre broadband across the UK.
In response, analysts suggested the projected funds may struggle to have a long-term impact.
Dan Ridsdale of Edison Investment Research said: “The £270m for disruptive technologies is unlikely to go very far. The technologies highlighted – biotech, robotic systems and driverless cars are all very pertinent right now but others with lower profiles are just as deserving. This would spread the funds even thinner.”
Meanwhile Dik Vos, from software quality assurance firm SQS, also warned a lack of consumer trust in robotics and artificial intelligence (AI) could hamper development in the sector.
He said: “While we welcome the innovation and extra funding this announcement will bring, retaining consumer trust in relation to such technology is critical. As our latest research proves, 62 per cent of UK adults believe that the technology behind AI is likely to fail, resulting in robots destroying human life.”
But David Williams, technical director at AXA UK, said: “Driverless technology will revolutionise the way we drive, how businesses transport goods and, crucially, improve the safety of our roads.
“AXA has been playing a central role in the three Government-backed projects to make driverless cars a reality on our roads and we will continue to support the Government to ensure any investment is channelled in the right way to get the most benefit.”
Harry Gaskell, chief innovation officer with EY UK and Ireland, added: “The Government’s focus on further developing its innovation and disruptive technology strategy is very welcome at a time of rapid change both in the UK and across the globe.
“The extra funds earmarked to support research and development in AI, robotics and autonomous vehicles are vital to building the right infrastructure, skills and new technologies to ensure the country remains competitive on the world stage.”
Consumer affairs expert Kevin Pratt, from MoneySuperMarket, said the investment in driverless vehicles was a hugely important issue.
He said: “Car insurance providers are threatening sweeping rises to premiums because of reforms to the way compensation payments are calculated when people are seriously injured in accidents.
“The more we can do to reduce accidents, the less premiums will need to increase – and driverless technology will make a huge difference here.”
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