- Chair of the Ubiquitech Group Dr. Ruth Wandhöfer has released a report, calling for cross-industry collaboration to meet the needs of the UK’s next generation with ubiquitous technology.
- Dr. Wandhöfer’s working group recommends developing a digital economy initially since the thriving technologies became universal, to ensure the quality of life for UK citizens.
- The UK has to seize the chance to integrate Ubiquitech with a digital economy and create a sustainable fintech ecosystem.
OUR TAKE:
The report reveals the urgency of combining fintech with other sectors like healthcare and agriculture, through the digital economy. The UK has to perfect the legislation and investigation rules about fintech since the technologies are emerging at an astonishing speed. Otherwise, there will be a risk of impacting the quality of life for UK citizens.
— Iris Deng, BTW reporter
The UK fintech sector needs a “ubiquitech” mindset, developing the digital economy in many sectors like healthcare and agriculture, according to a new report.
Dr. Wandhöfer is considering elevating UK fintech to ‘Ubiquitech’
Chair of the Ubiquitech Group Dr. Ruth Wandhöfer has released a report, ‘From Fintech to Ubiquitech: Accelerating the wider UK Digital Economy’, outlining a roadmap for enhancing the UK’s digital economy. It calls for cross-industry collaboration, aiming to meet the needs of the UK’s next generation.
After Kalifa Review, which highlighted the opportunity to create highly skilled jobs across the UK, boost trade, and extend the UK’s competitive edge over other leading fintech hubs, some progress has been made. Dr. Wandhöfer emphasised the significance of improving innovation across healthcare, agriculture, and other industries with Smart Data.
“We believe the Ubiquitech Report underscores the urgency for recent and forthcoming enabling legislation to leverage the digital future and the imperative need for enhanced security measures in the face of escalating fraud and cybercrime. The arrival of Web3 and decentralisation furthermore necessitates a complete overhaul of existing digital operating models.
Also read: Google invests $1 billion in green UK data centre
Ubiquitech is propelling the UK towards global leadership in trust and innovation
Dr. Wandhöfer envisions ubiquitech as a transformative force that will position the UK as a global leader in trust and innovation. Urging swift action to seize the moment, she stresses the need for collaboration and innovation to propel the UK towards a prosperous digital future.
This report not only underscores the importance of embracing digital transformation but also signals a significant opportunity for the UK to establish itself as a pioneering force in the global digital arena. With the right strategies and concerted efforts, the UK can harness the full potential of ubiquitous technology and emerge as a frontrunner in innovation and digital trust on the world stage.
