Budget 2014: Alan Turing Institute

Budget 2014: Alan Turing Institute

A major £42 million gets invested into data and algorithm research.

Also on KPMG.com

Alwin Magimay, UK head of digital and analytics at KPMG, comments on the Budget announcement on the Alan Turing Institute, a GBP 42 million investment in big data and algorithm research. He said: 

“This is really welcome news for the UK. Data scientists are what computer programmers were to the UK economy in the nineties. We as a nation need to industrialise this discipline to ensure that British business can prosper from understanding the potential of the data and turn it into a competitive business advantage."

“The investment of £42 million is a powerful signal to businesses, academic institutions and investors to sit up and realise that big data isn’t just a term coined by the technology world but that it presents a real opportunity for UK business to gain value from the abundance of data being created in a digital and connected world."

“We are only at the very beginning of this revolution but the power of data is not new to KPMG. We are already supporting a variety of early stage companies in this space through our Digital Innovation Network. We have recently announced our data scientist summer academy programme that will help to create a much needed pool of data scientists in the UK and are close to announcing yet another exciting and transformational development in this space.”


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Chancellor’s Budget 2014


About KPMG

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such. 

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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