George Osborne announces Alan Turing Institute for Data Science to be based at British Library

£42m big data research institute will form part of London's new 'Knowledge Quarter', chancellor reveals

The Alan Turing Institute for Data Science will be headquartered at The British Library in London, chancellor of the exchequer George Osborne has announced.

Plans for the £42m research institute named after the World War II Enigma code-breaker were first announced by the chancellor during his Budget speech in March this year. The aim of the Alan Turing Institute is, said Osborne, to make Britain a world leader in the area of big data research.

The institute at The British Library will form part of London's new so-called "Knowledge Quarter", based between King's Cross and Bloomsbury. Its 35 members will include the British Museum and the University of London.

While the Alan Turing Institute, which will receive its £42m funding over a period of five years, will be based in London, it will have "spurs" in universities and institutions throughout the country.

"Key to the government's long-term economic plan is ensuring Britain remains at the forefront of scientific innovation," said Osborne.

"That's why I was delighted to announce the creation of the Alan Turing Institute, a world-class institution dedicated to the study of data science and big data," he continued during his Autumn Statement speech, before going on to reference how it will benefit what he called "the Northern powerhouse".

"The institute will bring benefits to the whole country through partnerships with universities and businesses across Britain, including in our great northern cities, to better understand and exploit the amazing opportunities presented by big data," Osborne said, before honouring the man after whom the institute is named.

"It's a fitting tribute to Alan Turing - the father of modern computer science and a national hero - and will ensure Britain continues to lead the whole world in this important field."

The announcement was welcomed by professor Philip Nelson, chief executive of the Engineering and Physical Sciences Research Council (EPSRC), who described some of the benefits that could be brought about by proper investment in big data projects.

"Big data has the potential to propel huge advances in areas as diverse as healthcare, manufacturing, aerospace and cybersecurity. Ensuring the UK leads the world in this exciting field is paramount," he said.

"The Alan Turing Institute will form an important part of the UK's big data capability, complementing EPSRC's significant portfolio of computer science, ICT and mathematics research and training," Professor Nelson added.

Part of the institute's role will be to use big data to help businesses to enhance their products and manufacturing processes, target their marketing better, and provide more efficient services.

The UK is far from the only government authority which is investing in big data research. Earlier this year, the EU announced plans to spend €2.5bn (£2bn) on investment into big data.