In less than three years time, more than half of UK GDP will be generated by people who create something from nothing, according to the 2007 Developing the Future (DtF) report launched today at the British Library.
The report, commissioned by Microsoft and co-sponsored by Intellect, the BCS and The City University, London, sets out the key challenges facing the UK as it evolves into a fully-fledged knowledge-based economy. The report also sets out a clear agenda for action to ensure the UK maintains its global competitiveness in the face of serious challenges.
The report identifies a number of significant challenges that the technology industry needs to address if these opportunities are to be grasped. Primarily, these are emerging markets and skills shortages:
- At current rates of growth China will overtake the UK in five years in the knowledge economy sector.
- The IT industry faces a potential skills shortage: The UK’s IT industry is growing at five to eight times the national growth average, and around 150,000 entrants to the IT workforce are required each year. But between 2001 and 2006 there was a drop of 43 per cent in the number of students taking A-levels in computing.
- The IT industry is only 20 per cent female and currently only 17 per cent of those undertaking IT-related degree courses are women. In Scotland, only 15 per cent of the IT workforce is female.
BCS: Developing the future.
The report also suggests that the 'IT industry should look to dramatically increase female recruitment' - I won't comment for now but it will be interesting to see how that issue develops.