The Changing Nature of R&D – CBI Report

To celebrate the official launch of Nexus, we have partnered with the Confederation of British Industry (CBI) to commission a new innovation and data report.

The report investigates how businesses use advanced analytics and data science within research and development, and the UK innovation support required in the future, to facilitate this.

Some challenging themes have emerged from this report and it is clear that greater support is needed to help businesses maximise the potential of this technological revolution. Further support is also required to meet the ambitions set out in the Industrial Strategy, to put the UK at the forefront of the data revolution and to raise the R&D intensity of the UK. Government has made a first step by committing to raise UK investment in R&D to 2.4% of GDP by 2027 but bold and ambitious policy action is now needed to reach that target.

If R&D investment continues at the current rate of growth, the UK will not reach the 2.4% target until 2053, 26 years too late.

The clear recommendations outlined in this report are the first step in reversing this prediction and ensuring Britain remains a global leader in technology and innovation.

To read the report in full and view the key findings and recommendations, please download below.