Thursday 20th March, 2014

The government is creating a world-class research institute specialising in data science dedicated to British WW2 code-breaker Alan Turing. Chancellor of the Exchequer, George Osborne, made the announcement in his Budget 2014 statement.

The Alan Turing Institute for Data Science will benefit from a £42 million government investment over 5 years that will strengthen the UK’s aims to be a world leader in the analysis and application of big data. It will also ensure that the UK is at the forefront of data-science in a rapidly moving, globally competitive area, enabling first-class research in an environment that brings together theory and practical application.

Once operational, it is hoped that it will be a world-leading institute, attracting the best talent and investment from across the globe.

The Centre for Economics and Business Research estimates that the big data marketplace could benefit the UK economy by £216 billion and create 58,000 new jobs in the UK before 2017. Furthermore, a recent report from Deloitte estimates that the direct value of public sector information alone to the UK economy is around £1.8 billion per year, with wider social and economic benefits bringing this up to around £6.8 billion.

Research by the National Endowment for Science, Technology and the Arts (Nesta) also shows that UK data-driven firms are 40% more likely to report launching products and services ahead of their non-data savvy competitors.

The Institute will collaborate and work closely with other e-infrastructure and big-data investments across the UK Research Base including the Open Data Institute, Catapult Network, ARCHER and the Hartree Centre.

Universities and Science Minister David Willetts said:

“Creating a world-class institute dedicated to data science will secure the UK’s place as a global leader in this field and bring significant future benefits to the UK’s economy and society.”