The United Kingdom is not only among the most technologically advanced countries in the world but also among the least innovative.
While Britain’s innovation prowess is well documented, we are far from being a “unicorn” nation, according to a report released this week.
The research firm Deloitte analyzed the productivity and innovation of the nation’s 27 million people and found that we’re still not among the best in the field.
Deloittes report, The UK’s Innovation Performance in 2055, found that in the 21st century, the UK’s innovation performance fell from 19th place in 2016 to 17th in 2054.
Delos report also found that UK productivity growth has fallen from 10.4% to 8.6% since 2020, while productivity growth in the U.S. has grown at an average annual rate of 6.7%.
UK productivity has been steadily declining since 2000.
Deliittes analysis shows that Britain’s productivity performance has fallen by 9.7% since 2000, and the U,S., and Australia are still far ahead.
However, the report also points out that Britain is still in the middle of a technological boom that will continue for decades.
UK technology is also the fastest growing country in Europe, and it will be a huge factor in the development of the future economy.
UK innovation is also among Europe’s fastest growing, with growth rates exceeding 10% per annum since 2010.
It is estimated that UK tech investment in 2021 will reach $6.5 trillion.
UK firms are investing an average of $20,000 per employee in the UK, according the Deloiters report.
It also found UK tech companies are more likely to hire people in the technology sector, as opposed to the other sectors, such as finance, science and technology, and engineering.
The UK government has committed to investing an additional $4 billion in research and development, a figure that is expected to double to $8 billion by 2025.
Britain has also been able to develop some of the fastest-growing and most innovative technology companies in the country, such a Amazon and Apple, and has recently seen several startups succeed in raising billions of dollars.
However the report notes that a significant part of the UK economy is still struggling to adapt to the shift to a more technological economy.
This is particularly evident in the areas of the economy where businesses are growing faster and faster than the rest.
The Deloits report also notes that many businesses have struggled to attract talent in the past, and many of the countries biggest tech companies have had to lay off thousands of staff due to the changing economy.
“The UK’s economic and technology leadership is still under threat,” said Andrew Wigmore, a senior fellow at Deloitaiser.
“There is a strong case for a strong government to lead the UK to a future that is more innovative, faster, and better able to adapt quickly to change.
But we must continue to work together to create the conditions for this transformation, and make the best use of our existing talent and resources.”
The Delos Innovation Performance Report will be released in early 2021.