Part of the debate – in the Senedd at 6:05 pm on 17 January 2018.
I think it's not within my gift, but I would agree that this is something that we're urging the private sector to do very regularly to make sure that they're scanning opportunities that currently, perhaps, aren't being considered. I think it's essential that, right across Government—within Government and within local government—there are units that are set up, there are ways of learning from others, from best practice that can apply lessons and can also futureproof those organisations at whatever level they may sit.
I think skills are a huge building block for the exploitation of technology and for changing the mindset and the behaviours within institutions and organisations. And the development of a futureproofed skills agenda and the need to find ways of encouraging, in particular, Deputy Presiding Officer, girls and women into STEM subjects and careers is vital for future economic success. Because human capital will be key and there will be an increased demand, no doubt, for a knowledgeable workforce and a highly skilled set of workers right across every sector.
It's important that we don't overlook the opportunities to work beyond our borders. We'll be holding the UK Government to its commitments in its industrial strategy and its promise to invest in the technologies and the businesses and in the skills of the future. The five foundations of productivity laid out in the UK industrial strategy—ideas, people, infrastructure, business environment and places—are central to addressing those factors responsible for raising productivity and earning power within an economy, and under these sit four grand challenges where Britain can lead the global technological revolution.
Now, there are very clear overlaps, in my view, between the grand challenges and our calls to action, and between the five foundations of productivity and the objectives in the economic action plan. The economic contract, calls to action and national thematic sectors set out in the economic action plan are all central to meeting these challenges and opportunities.
Deputy Presiding Officer, I'm mindful of the time I've taken so far to respond to this short debate, but the debate has shown that there are huge challenges. We recognise them and we are taking mitigation very seriously indeed. The speed of technological change and its adoption is rapid, and, in some cases, we're standing on a burning platform. The message could not be clearer: we need to invest and embrace. Automation and digitisation is coming right now, and now is the time to innovate and to improve productivity to create new opportunities, or we risk losing competitiveness and economic stagnation could ensue.
There is cause for optimism—sure—and for confidence about the future so long as we are prepared to act now to harness the opportunities and to manage the threats posed by the fourth industrial revolution. I would again like to thank Members for their contributions today.