The Boards of the Lloyd’s Register Foundation (LRF) and of The Alan Turing Institute announce that LRF has approved (subject to contract) the award to the Institute of a research grant totalling £10 million over the next five years. The purpose of the grant is both to further the Institute’s core mission of data science research and to facilitate research into engineering applications of big data to enhance the safety of life and property at sea, on land and in the air.
Together the Lloyd’s Register Foundation and the Institute will undertake a 5-year programme of work focussed on building the emerging field of data science and the role of data-centric engineering within it. This will specifically recognise the value of data as an asset and seek to place data at the forefront of engineering design. The research challenges posed here go to the heart of the Institute’s research agenda and their solution will contribute to reduce some of the major global risks on the horizon: food, water and energy security, climate change, pandemic disease, unstructured urbanisation and global constraints.
Commenting today,Richard Clegg, MD of the Lloyd’s Register Foundation, said: “There is a remarkable alignment between the interests of the Lloyd’s Register Foundation and The Alan Turing Institute in the applications of big data to engineering. Such applications have the potential to increase efficiency, reduce costs, improve reliability and productivity, and all importantly enhance safety. The Foundation is looking forward working with The Alan Turing Institute to develop and be at the centre of the agenda around data-centric engineering worldwide. It is a crucially important research area for our Foundation.”
Professor Patrick Wolfe, who has led the Institute’s relationship with the Lloyds Register Foundation, said: “We are extremely pleased to be working together with the Lloyd’s Register Foundation to deliver a programme based on fundamental basic research in data science. The Foundation has recognised the value of becoming an early investor in an area with huge potential to transform engineering and create benefits for humankind on a global scale.”