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Invest in IT to boost UK's output, says Oracle boss

Nick Huber
Investment in IT can help the UK close the productivity gap with the larger European economies and the US, according to the managing director of Oracle UK.

Speaking last month, Ian Smith said the adoption of emerging technologies such as utility computing could help UK organisations make better use of their computing power and potentially save billions of pounds.

Smith also called on UK employers to build closer relations with schools and universities to encourage more young people to take technical courses.

Smith's call came ahead of the European Union's interim report on its strategy for economic renewal in Europe, which is due later this week.

The report is expected to confirm that Europe will miss its mid-term targets on competitiveness.

"UK plc's productivity is everybody's problem," Smith said.

"However, by harnessing the latest innovations in IT, ensuring that future generations have the appropriate education and skills for the modern world, and a government machine committed to driving down cost while improving service, UK plc has the opportunity to become the economic tiger of the Western world, and help to accelerate the economic development of the European Union."

He added that employers need to spend more money training employees to improve the UK's productivity.

"The persistent gap between the UK and the two big continental economies, France and Germany, can be explained by a shortfall in our capital investment per worker and the fact that generally their workers are more skilled," said Smith

Other technologies capable of boosting the UK's productivity include wireless and mobile applications and radio frequency identification, Smith added.

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