Part Three – The Digital Revolution (Part Two)
Economic Unit
Businesses also need better connectivity while on the move to operate wherever necessary.
Government objectives for 5G must be delivered immediately, and the UK should play a leading role in setting global standards for the next generation, 6G. Once again, standing still or delaying is not an option.
Businesses must have confidence that the digital technology they use is secure and reliable.
The threat from cyberattacks is rapidly increasing, so strengthening cyber resilience and improving insurance coverage against cyber threats is critical.
We are still at the start of the exciting journey of AI and its profound impact on the world — and there will be other transformative technologies in the future that the UK must be ready to lead in.
AI is essential for competitiveness and productivity in the modern business landscape; therefore, it is vital to ensure that all UK businesses are engaged in this path. Increasing clarity and confidence among businesses regarding AI will enhance trust and effective adoption.
The ever-changing technological world holds immense strategic importance for businesses. Equipping companies — of all sizes and industries — for the upcoming digital journey is essential not only for their future but also for the innovative UK economy where all businesses can thrive.
Executive Summary and Recommendations
The digital revolution has opened a sea of opportunities for UK businesses of all sizes and sectors.
This report provides a clear roadmap for policymakers across a set of interconnected areas.
Without better broadband and wireless connectivity — and strengthened cyber security — businesses will not be able to engage effectively with AI.
Simply put, companies want to be connected, secure, and dynamic.
The COVID-19 pandemic significantly highlighted the importance of internet connectivity for households and businesses, demonstrating that broadband is a critical part of the UK’s digital infrastructure.
Research by UK Chambers of Commerce revealed a significant gap between urban and rural businesses:
82% of urban firms reported having reliable broadband, compared with only 56% of rural firms.
Moreover, weak digital infrastructure makes the UK less attractive to foreign investors and limits economic growth in under-served regions.
Estimates suggest that 5G technology could add around £159 billion to the UK economy by 2035, boosting productivity and developing smart, connected cities.
Businesses across the UK recognize the immense potential of 5G and call for its accelerated rollout.
However, connectivity across regions remains uneven and unstable, and 5G deployment lags behind competitors.
Investors are also less willing to enter future advanced industries due to lack of certainty and incentives.
Planning uncertainty and legal constraints continue to make network deployment difficult and costly.
In this context, Fixed Wireless Access technology can be part of the solution to business broadband connectivity issues and help expand high-speed internet to more areas.
At the same time, a modern economy requires a secure and resilient digital environment.
Alarmingly, in 2022, the UK experienced the highest number of cyberattacks in Europe — accounting for 43% of all recorded incidents.
Large companies face greater financial losses in the event of a cyberattack, while smaller firms are more vulnerable due to fewer protections.
However, these threats can also become an opportunity for the UK to become a global leader in cyber security and the safest place to do business.
Businesses must have confidence in the UK digital infrastructure while understanding their responsibility for customer cyber security — and the government must support them in this regard.
Finally, the rapid international growth of AI provides vast opportunities for UK businesses.
However, our survey data indicates that AI adoption among UK companies — across different sizes and sectors — remains uneven and limited.
The research also highlights perceptions, barriers, and opportunities associated with this technology.
Government response to AI development must be tailored to the needs of all businesses — large and small — so they can fully benefit while mitigating potential risks and safety hazards.
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Cyber Resilience
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Fixed Wireless Access
