Industry News
WAG: The £40m High Performance Computing (HPC) Wales initiative has officially launched its second supercomputing hub. HPC Wales has built a state-of-the-art high performance computing capability, technology, infrastructure & facilities on a pan-Wales, pan-sector basis across Universities & business centres in Wales.
It has given Welsh businesses and universities involved in commercially-focussed research access to advanced and evolving computing technology. A key HPC Wales activity is working with industry, SMEs & larger companies in order to develop new intellectual property, services and products which can help them compete & win new business.
WAG: The Welsh Government is extending the Digital Development Fund, which helps Creative Industries businesses to exploit new markets through digital technologies. Launched in 2011 as a pilot, the £2m has helped a wide range of businesses diversify into new markets, develop new products and also exploit short term market advantages.
Extending the Fund for another 3 years until March 2016, subject to a review in 2015, Economy Minister Edwina Hart said this would provide continuity of support.
ScotGov: More than 2,000 jobs are expected to be created over the next 5 years at 3 new innovation centres. Supported by £30m of public funding, the centres, they will concentrate on developing world-leading Scottish technology & life sciences.
One of the new centres, focusing on stratified medicine & innovation, will be built at the new Southern - one of Europe’s largest hospital sites. The remaining 2 centres will develop state-of-the-art sensors & imaging systems and digital health technologies ensuring that Scotland continues to be a pioneer in life sciences, innovative technology, ideas and development.
ScotGov: A £15m fund to help develop deep-water wind turbine foundations in Scotland has been announced. The Scottish Innovative Foundation Technologies Fund will support the development of prototype foundations for offshore wind turbines sited in water depths greater than 30 metres.
OS: A study has revealed that the insurance industry needs to adopt new ways of working in order to make sense of Big Data and remain competitive in future years to come. The research, conducted in conjunction with Ordnance Survey, found that 82% of those questioned believed that insurers that do not capture the potential of Big Data will become uncompetitive.
Whilst there is a hunger for better insight, the research showed that too many insurers believe they are ill-equipped to capture the potential of Big Data.
95% agreed that many underwriting departments lack the necessary tools, whilst 81% agreed that many underwriting departments lack the specialist skills. Despite these shortcomings, underwriters admitted that they don’t expect to see much investment in Big Data even 10 years from now.
95% agreed that many underwriting departments lack the necessary tools, whilst 81% agreed that many underwriting departments lack the specialist skills. Despite these shortcomings, underwriters admitted that they don’t expect to see much investment in Big Data even 10 years from now.
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