Finance Letitia Booty · 22 November 2017
Autumn Budget 2017: National Productivity Investment Fund increased to 31bn
The spending was originally earmarked for the following:
? 7.2 billion to support the construction of new homes, including spending by Housing Associations
? 4.7 billion to enhance the UK’s position as a world leader in science and innovation
? 2.6 billion to tackle congestion and ensure the UK’s transport networks are fit for the future
? 0.7 billion to support the market to roll out full-fibre connections and future 5G communications. Responding to the increased productivity fund, Alan Laing, MD UK and Ireland at Sage, said: We welcome the 500m investment into the UK’s technology sector, universities and R&D, but cannot overlook the need to invest in a wider understanding around bias and ethics to ensure that we are fully aware of how these technologies are being developed prior to applying them to our businesses. there is absolutely no need to fear AI if it is approached with the correct framework in mind, such as the ethics of code Sage produced. ‘sage research recently revealed public and business understanding of AI is optimistic: four out of every five people believe this technology has the potential to make their lives better.
ABOUT THE EXPERTLetitia Booty
Letitia Booty is a special projects journalist for Business Advice. She has a BA in English Literature from the University of East Anglia, and since graduating she has written for a variety of trade titles. Most recently, she was a reporter at SME magazine.