Colocation giant Digital Realty claims that the expansion of its Docklands colocation campus is well-placed to support London through a predicted wave of technology innovation.
The company has opened another datacentre, dubbed Cloud House, at its Digital Docklands campus near Canary Wharf.
The Cloud House facility is 11,127m2 in total size, with about a third of the floorspace designated as customer space, including its four data halls.
This is the fourth datacentre Digital Realty has created within its carrier-neutral Digital Docklands campus, and should set the firm up well to support London-based businesses with their digital transformation plans, said Jeff Tapley, managing director for Europe, the Middle East and Africa (EMEA) at Digital Realty.
“Cities around the world are on the cusp of a technology revolution that could drive substantial economic growth,” he said. “The opening of our new facility in the Digital Docklands underscores Digital Realty’s commitment to supporting the technology revolution in London.
“Businesses can rely on our secure platform to connect to, and deliver, the critical technology they need to succeed, from artificial intelligence (AI) to the internet of things (IoT), from one city and country to anywhere in the world in order to grow and scale efficiently.”
Tapley’s comments coincide with the publication of a piece of Digital Realty-commissioned research into the economic impact that AI, 5G, IoT and blockchain technologies are likely to bring to the capital over the next 10 years.
These impacts include the difference it will make to the availability of new jobs, as well as the creation of new business opportunities, and operational efficiencies, in terms of how private and public sector organisations operate within London.
The report claims the abovementioned technologies will add £6.25bn to London’s economy over the course of this year, with the IoT (£3.09bn) contributing the most and 5G the least (£130m).
But this picture is set to change considerably over the next 10 years, says the report, not least in terms of how big a contribution to the capital’s economy these technologies are likely to generate by then.
By 2029, the report estimates that AI, IoT, 5G and blockchain will generate £24.28bn for London’s economy – £18.04bn more than in 2019.
AI is expected to surpass IoT as the biggest contributor to this total, with forecasts suggesting it will generate £10.46bn of economic benefit by 2029, followed by IoT (£6.44bn), 5G (£4.29bn) and blockchain (£3.09bn).
“The most spectacular growth is expected to come from 5G, with its economic contribution to London’s economy set to increase by 3,000% over the next decade, from £130m to £4.29bn, as 5G becomes the foundation for the deployment of many other innovative, data-led technologies,” says the report.