Business leaders must make smart choices to aid 'sluggish' UK economy growth

The UK economy is continuing to grow at rather a slow rate, according to various statistics revealed last week. Despite improved domestics sales, with orders rising to the highest level since early 2015 this quarter, growth remains sluggish. This is hardly surprising in the wake of Brexit, but according to Graeme Wright, CTO Energy & Utilities at Fujitsu UK & Ireland, full recovery will require business leaders to make smart decisions.

“While the manufacturing sector is going from strength to strength, leaders will need to be savvy in order to continue to thrive in an era of digital disruption. In a recent Fujitsu study, 90% of manufacturers said they believe the sector will transform fundamentally by 2021. Technology has always been a fundamental part of the manufacturing industry, but it is essential that organisations are built in a way that allows them to continually embrace innovation, and the new possibilities technologies like artificial intelligence, wearables and the Internet of Things can offer.  

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“In tandem with this, the clamour for skills simply cannot go unaddressed. Educators need to open their doors to industry partners who can help bring more advanced technology into the classroom, provide advice and examples of the skills employers are looking for and adapt the syllabus accordingly, and, most importantly, provide opportunities for students to gain real world experience.

“Over the coming months we expect to see new opportunities for manufacturers to adapt their business models, enhance their value, establish new services and move into the era of servitisation. The impact of digital is now inevitable, but it needs to be supported by a skilled workforce in order to feed its growth.”