Barclays backs robotics

robot android women with lightIncreasing investment into robotics to the tune of £1.2bn could bring an extra £60.5bn to the UK economy within the year, according to a recent report by Barclays bank.

The Future-proofing UK Manufacturing report alleges that investing in robots would create more jobs, as opposed to fewer, with an estimated 73,000 new roles available by 2025. The manufacturing sector would also grow to £191bn by 2025 – an increase of £38bn.

“This report highlights the importance of investing in robotics and automation for manufacturers as a potential solution to the ongoing ‘productivity puzzle” says Mike Rigby, head of manufacturing at Barclays.

“By investing an additional £1.2bn in automation technologies over the next decade, the UK manufacturing sector is forecast to create an additional £60.5bn of economic output and safeguard more than 105,800 jobs through the wider economy.”

Rigby warned, however, that in order “to reap these rewards we need to address some of the barriers to investment, including the need for more user-friendly and flexible technology, addressing skill barriers within the sector, and supporting manufacturers to access the funding and information already available to them for robotics investment.”

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