Samsung Says Lack Of Smart Tech Is Costing UK £9.25bn A Year

Samsung claims that the UK economy is losing £9.25 billion a year because consumers and businesses are not making the most out of smart technology, such as smartphones and connected devices.

The Korean manufacturers, which hopes to take advantage of this growing market, asked 1,000 IT Decision Makers and 2,500 members of the general public for its ‘Smart Society Barometer’ and found that there were a number of barriers impacting adoption, mainly cost and a lack of skills.

UK businesses stand to lose £5.6 billion over the next 12 months unless adoption is accelerated, with Samsung claiming each firm could save an average of £81,000 if smart technology was rolled out in every department, but found that one in ten had not deployed any such innovations.

Samsung smart deficit

More than a quarter admitted to missing out on a contract or client because they didn’t have the right equipment in place, a figure which increases to 37 percent in the financial sector and 41 percent in telecoms. IT managers say just 11 percent of their budget goes towards the rollout of smart tech and a fifth say it’s just too time consuming to train people to use it.

Respondents were more comfortable in introducing smart technology into their personal life, but a quarter said a lack of understanding of the benefits had prevented them from splashing out. Just six percent said they had installed a smart meter, but almost two thirds said they planned to do so in the future.

Previous Samsung research has indicated that the most popular forms of smart technology at present are connectivity apps like Skype and Smart TVs, although many had indicated they would be interested in smart appliances, security and lighting as well as wearables that could monitor their health.

Samsung’s role

“The Smart Deficit that we have identified through the Smart Society Barometer should act as a wake-up call for the technology industry and its partners,” said Andy Griffiths, president of Samsung UK and Ireland, speaking at the Samsung store at Westfield Stratford. “Smart technology adoption is happening and where it is being used most effectively, the benefits are already being felt both by individuals and businesses.

“At Samsung, we understand that in order to help achieve this, we must play our part in educating businesses and consumers on unlocking the true potential that smart technology can bring to the UK.”

Griffiths likened the store to a “brand laboratory” where the company could learn about how its products are received by the public, and said its recent releases, such as the Samsung Gear range of smartwatches and Galaxy smartphones could help the UK become a smart society. Samsung recently released the Galaxy Note 4 phablet and Griffiths claimed this had received more pre-orders than even the Galaxy S5.

“All these products show how as a company we’re looking to innovate,” he said.

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