As part of our research into whether data trusts are a useful way of increasing access to data while retaining trust, we commissioned London Economics to carry out an independent assessment of the economic function of data trusts
The government is pursuing a target for the “UK to be the world’s most innovative economy”. Innovation in the field of AI, which is seen as a key source of future innovation, is part of this. This means more and better AI-related R&D being done in the UK, which implies lower cost of AI-related research (including easier access to data) and more and better data to be used as the basis for such R&D.
This assessment of the concept of data trusts focuses on their economic function. The rationale for government support for data trusts as new a data sharing mechanism is framed in terms of their contribution to productivity, and development of AI and data-driven innovation more broadly.