Page 130 - Are You Future Ready?

The U.K. has been innovative in not only the FinTech area

but also open data.

Also announced in mid 2018, geospatial data by the

227-year-old Ordnance Survey, an official map agency,
would be made freely available to citizens and businesses.
Small and medium enterprises (SMEs) and startups are
expected to benefit the most from this opening up. The
scheme is expected to produce £130 million (about HK$1.2

128 billion) of revenue per year for the British economy.

The new schemes are crucial to the nation’s future. Firstly,

about 80% of the data are related to geolocation. Secondly,
geospatial data plays a key role in planning road trip
routes, locating missing elderly, tracking cargo shipments,
developing autonomous vehicles and deploying 5G mobile
services. Moreover, the data on daily life linked with

geospatial information can accurately respond to citizens’
needs.

By merging the geospatial data with other data, startups