Made Smarter, a government-backed initiative, has announced plans to invest £25 million to help small and medium-sized manufacturers in the UK enhance their technological capabilities. The initiative aims to accelerate the adoption of digital technologies such as artificial intelligence, automation, and data analytics to boost productivity and drive growth within the manufacturing sector.
Through the investment, Made Smarter will provide funding and support to SME manufacturers looking to implement cutting-edge technology solutions. This includes providing access to specialist advice, training, and grant funding to help businesses modernize their operations and compete in the global market.
The initiative has already seen success in transforming the manufacturing landscape, with companies reporting significant improvements in efficiency, cost savings, and product quality. By embracing digital technologies, manufacturers can streamline processes, reduce waste, and increase output, ultimately driving greater profitability and sustainability.
According to reports, the UK manufacturing sector has the potential to unlock £455 billion in economic value over the next decade by embracing digital technologies. Made Smarter aims to harness this potential by empowering SME manufacturers to invest in innovation and stay ahead of the competition.
Commenting on the initiative, Juergen Maier, Chair of the Made Smarter Commission, emphasized the importance of investing in technology to drive growth and create high-quality jobs. He highlighted the benefits of digital transformation for manufacturers, including increased productivity, improved competitiveness, and enhanced sustainability.
Overall, Made Smarter’s £25 million investment is set to revolutionize the UK manufacturing sector, empowering SMEs to embrace digital technologies and unlock new opportunities for growth and success. With the support of this initiative, small and medium-sized manufacturers can thrive in the ever-evolving industry landscape and drive innovation on a global scale.
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