Spending on R&D to rise as factories look to future

KPMG says Scottish manufacturers 'recognise the importance of innovation'. Picture: Fabian Bimmer/AP
KPMG says Scottish manufacturers 'recognise the importance of innovation'. Picture: Fabian Bimmer/AP
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Manufacturers with operations in Scotland are ­planning to spend more developing new products and services, a report by professional services firm KPMG suggests.

KPMG’s Rethink Manufacturing report says more than four-fifths (84 per cent) of manufacturers operating in the country say innovation is vital, with half of those ­surveyed ­saying they expect to increase R&D spend over the next three years.

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Nearly one third (31 per cent) of manufacturers ­cited investment in new technology as one of the top three factors that would help boost productivity in Scotland.

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Nearly half (47 per cent) said they are already investing in the “internet of things” – the ability to ­connect everyday devices via the internet.

Artificial intelligence and advanced robotics are also high on the agenda.

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James Kergon, partner and head of industrial manufacturing for KPMG in Scotland, said: “Manufacturing businesses with operations in Scotland recognise the importance of innovation.”

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