Digital Inequality Looms as SMEs Struggle to Access Emerging Tech

“Technology, via the efficiency gains it enables, has the potential to provide a massive uplift to the economy. KPMG research recently calculated that a productivity boost from generative AI alone could add £31 billion of GDP to the UK economy. This opportunity must be grasped with both hands, yet these numbers cannot be achieved without the right tax incentives to help organisations use these technologies. Emerging technology can initially be expensive to use, so it was disappointing that an increase in tax relief for expenditure on digital services was not included in today’s Autumn Statement.”

“Emerging technologies are often out of reach financially for small organisations. If businesses across the UK are not equally able to use innovative technologies, large organisations with greater resources will accelerate their market lead, resulting in potential digital inequality.”

-ENDS-

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Rob Smyth

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About KPMG UK

KPMG LLP, a UK limited liability partnership, operates from 20 offices across the UK with approximately 17,000 partners and staff. The UK firm recorded a revenue of £2.72 billion in the year ended 30 September 2022.  

KPMG is a global organisation of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.