The Lloyd’s Register Foundation charity is giving £10 million over five years to support research by the Alan Turing Institute on big data engineering applications.
The Foundation wants to support big data research to support safety and performance of engineering assets and infrastructure in energy, transportation and shipping.
Professor Richard Clegg, managing director of the Lloyd’s Register Foundation, said: “Within the next five to 10 years we are going to witness step changes in sensor technology, data-driven intelligent systems, computer science and algorithms for data analysis - impacting all aspects of the business life-cycle.
"Big data is going to bridge the gap from monitoring 'what is' to predicting 'what if'. The Foundation intends to become a major supporter of international research in the field, partnering with organisations including the Engineering and Physical Sciences Research Council.”
In support of its objectives, the Foundation has offered a conditional grant of £10 million over five years to the Alan Turing Institute for the purpose of supporting its research in the engineering applications of big data. The aim is to "enhance the safety, reliability and performance of the major infrastructure on which modern society relies", said the Foundation, in line with its charitable aims.
The new Alan Turing Institute will be headquartered at The British Library in London. The UK government has committed a total of £42 million to March 2020 to help fund the institute to lead research, education and knowledge transfer in the data sciences. The Engineering and Physical Sciences Research Council (EPSRC) is responsible for establishing the institute and allocating the £42 million.
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