Connected Devices Could Save UK Economy £9.25bn

By Tim Maytom

Business meeting tablet

The UK economy could lose out on up to £9.25bn in savings over the next year if smart technology growth isn’t accelerated, with more businesses and consumers adopting connected and smart devices.

The figures come from Samsung‘s Smart Society Barometer, which researches smart technology views and adoption rates among 1,000 UK businesses and 2,500 members of the public.

The figures for the impact of poor smart tech adoption were particularly worrying for businesses, with a potential £5.6bn in earnings lost out on. 27 per cent of businesses admitted they had lost out on a contract or client because they didn’t have the right smart technology in place, rising to 37 per cent of financial businesses, and 41 per cent in the telecoms and utilities sector.

According to the report, increased adoption of smart technologies could save businesses an average of £81,000 over the next 12 months, increasing productivity and data access to drive efficiencies with businesses.

IT managers interviewed as part of the study revealed there had been a lack of investment, both in terms of time and money, in smart technology. Only 11 per cent of annual IT budgets were being spent on smart technology, on average, and 20 per cent …read more

Source:: Mobile App News

      

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