Harnessing UK science could boost banking and other sectors.
Science, technology, engineering and maths can provide significant benefits to the United Kingdom's service sector but their role is hidden and unacknowledged, laments a report by the Royal Society. Such benefits could include much more accurate financial-risk reports for the financial services sector, according to Hidden Wealth: The Contribution of Science to Service Sector Innovation. The report makes some specific recommendations. One is for banking, technology and research groups to create systemic risk modelling and risk-assessment analyses using the latest research (see page 680). Another is for a formal cooperative exchange between research academics and the service sector.