The potential of the ‘Great North’ to drive the digitalisation of the UK’s economy has been underestimated, according to Professor Carsten P Welsch, Director of the Liverpool Centre for Doctoral Training for Innovation in Data Intensive Science (LIV.INNO). The centre has a team of researchers working on innovation projects with companies across health, retail, transport, finance, and utilities to increase their competitiveness.
Recent research by Deloitte’s across 6 different industries has found that UK companies are falling to capitalise on the digital transformation, and reports says UK economy is flat lining, creating urgency to act.
Professor Welsch (pictured above) argues that by increasing skills in digitalisation – the use of digital technologies to change business models and generate new revenue – the centre offers the opportunity to increase prosperity, sustainability, and resilience in the economy.
He explains: “Digital disruption impacts every aspect of society. Although there is a focus from the government on supporting high technology start-ups, the domestic market is often not big enough to sustain them and these early-stage companies are frequently acquired by overseas companies.
“On the other hand, if existing companies were incentivised to adopt new technologies this would make a significant contribution to their productivity and offer a direct benefit to the economy.”
Industries as diverse as healthcare, manufacturing, and transport can benefit from ‘digital’ capabilities, but many of these market sectors lack the skills to analyse their data effectively and to gain value from this information. LIV.INNO is working with these organisations to identify the opportunities and co-develop the tools they need.
Great North
The ‘Great North’ is a campaign by all the northern metro mayors, including Steve Rotheram (Liverpool City Region), Andy Burnham (Greater Manchester), and Kim MacGuinness (North West), to tap into the success and profile of the Great North Run to unleash the region’s economic potential.
The wider Liverpool City Region also has specialisms in accelerator science, the creative industries, infection medicine, novel materials, and advanced manufacturing – offering potential for a dynamic innovation ecosystem aimed at solving societal challenges.
Students at LIV.INNO receive a comprehensive training in data-intensive science in areas such as nuclear, particle and accelerator physics, developing their knowledge of AI, machine learning, data analysis and the Monte Carlo method for modelling. They then apply their skills to address commercial challenges.
Professor Welsch has originated and led a number of pioneering research networks that see PhD students on secondment to industry. LIV.INNO follows this successful model, providing specialist skills for bespoke projects, including prediction, risk analysis, visualisation, and modelling of scenarios.
The opportunities for industry and healthcare are to be discussed at the LIV.INNO Showcase Event on 16th September 2024 at the Hilton Hotel Liverpool City Centre, which brings together PhD students, supervisors, and industry partners interested in data-intensive science.
