David Cameron announces £45 million ‘Internet of Things’ fund
Speaking at the CeBIT 2014, David Cameron focused on three specific areas – 5G and its potential benefits, internet of things and its implications and lastly the strengthening of the EU digital market.
Britain and Germany will team up to develop the next super-fast mobile network 5G with a set of new initiatives to drive the research as part of an agreement between three universities – University of Dresden, Kings College University in London and the University of Surrey.
The fifth-generation or 5G network will enable a full-length 800-megabyte movie to be downloaded in one second.
“This is a world on fast forward. A world of permanent technological revolution,” said Cameron.
“And in this world, countries like the UK and Germany will only succeed if we have a relentless drive for new ideas and innovations. The UK tech scene today is dynamic. Relentlessly ambitious. Leading the way.”
Cameron also announced that the UK government will spend an extra £45 million on research into developing “internet of things” technology, as well as a separate £1 million to support companies developing such technology. This extra investment of £45 million will make the total of £73 million IoT fund.
“These are developments that could allow literally billions of everyday objects to talk to each other over the internet – using low-cost, low-power chips. And this has enormous potential to change our lives,” explained Cameron.
“Electricity meters that talk to the grid to get you the best deals. Health monitors that keep an eye on your heart rate. Water pipes that warn of a fall in pressure.”
Cameron said “We are on the brink of a new industrial revolution and I want us – the UK and Germany – to lead it,” and suggested that British ingenuity in software, services and design added with German excellence in engineering and industrial manufacturing, would take the countries to the forefront of this new technology-based industrial revolution.