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UK Economy Faces Digital Divide

UK Economy Faces Digital Divide

The Confederation of British Industry (CBI) and tech giant IBM has warned the UK is facing a digital divide which is set to severely impact the economy.According to the ‘Embracing Digital in Every Sector’ report from the CBI and IBM over half of pioneer firms are adopting digital technologies and processes while the other half are falling behind.

The report found nearly all firms believe digital technology has the ability to revolutionise the business landscape and drive productivity growth and job creation.

It also discovered almost three quarters see improved customer satisfaction and experience as its biggest benefit with digital technology.

The report also found however that businesses are hindered by a lack of appropriate skills inside their organisations and an unclear return on investment.

CBI director general, Carolyn Fairbairn, said: “Businesses globally are in the throes of an extraordinary digital revolution that is transforming productivity and creating a new generation of winning companies. But in the UK, too many firms are being left behind. While pioneering firms are seizing digital opportunities, nearly half are struggling – a growing digital divide that is threatening UK competitiveness."

According to the report the basics in getting started in digital business include fast and reliable internet connections, online platforms and the right cyber security products. 

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