New Smart Data Group Aims to Supercharge UK Economic Growth
June 19 2025 marked a significant leap forward for the UK’s digital future, as policymakers, regulators, and industry leaders came together at Parliament to celebrate the launch of the Smart Data Group — a new, industry-led organisation designed to unlock an estimated £27.8 billion in economic value.
The new group, chaired by former Smart Data Minister Paul Scully, aims to make smart data a driving force for growth, competition, and consumer empowerment across the UK economy.
What is Smart Data — and Why Now?
Smart data is the secure, standardised sharing of personal data between individuals and trusted third parties — with explicit user consent. It enables better services, faster switching, more competitive deals, and smarter decision-making for both consumers and businesses.
We’ve already seen the transformative impact of open banking in the financial sector. Now, smart data is set to take that principle further — into energy, telecoms, retail, and beyond.
With the recent passing of the Data (Use and Access) Act, the UK now has both the legislative framework and the industry will to turn smart data into a tangible, operational reality. The Smart Data Group is the vehicle that will make this happen — one scheme and one sector at a time.
A Collaborative Effort with Cross-Party Support
The launch event brought together senior figures from across politics and industry to explore the potential of smart data. In addition to Paul Scully, the Smart Data Group Advisory Board includes notable names such as Jonathan Ashworth, Lord Iain McNicol, Lord Martin Callanan, and Sir Robbie Gibb — a clear sign of the strong cross-party support behind the initiative.
Business and Trade Minister Justin Madders commented:
“Smart data has the power to transform the way we do business and has potential to supercharge start-ups across the country. This new group will play an important role in unlocking that potential, and our modern Industrial Strategy will be a driving force to boost our priority sectors and drive economic growth right across the nation.”
Laying the Groundwork for Cross-Sector Transformation
Chaired by Paul Scully and led operationally by Richard Newman and Clare Ambrosino — both open banking veterans — the Smart Data Group is focused on turning ambition into action. It will work with government, regulators, and industry stakeholders to co-design data-sharing schemes, set standards, and build the trust-based infrastructure needed to scale adoption.
Paul Scully shared his vision at the launch:
“During my time as Smart Data Minister, I saw firsthand the immense potential of smart data to transform services, empower consumers, and drive real economic value. The Smart Data Group will help us achieve that potential in a cost-efficient and collaborative way, ensuring the UK remains at the forefront of global innovation.”
What Industry Leaders Are Saying
Several industry leaders shared their thoughts on the role of smart data and the importance of collaboration:
Huw Davies, Co-founder and CEO at Ozone API, said:
“We’ve seen how open banking laid the foundations for a more competitive, consumer-focused financial system. Smart data takes that principle and scales it across sectors. The opportunity to build interoperable, secure frameworks that work across industries is not just exciting — it’s essential.”
James Ringrow, Director of Strategy at Smart DCC, added:
“Smart data has the potential to transform consumer engagement while enabling the system-wide change required for a smarter, greener Britain. As operators of the smart metering network, we understand the importance of secure, reliable and cost-effective data exchange. We welcome the Smart Data Group as a means to drive further collaboration and alignment across the sector.”
Pierre Tabet, Founder and CEO of VoltView, said:
“Just as open banking revolutionised financial services through easy sharing with third parties, the Smart Data Group provides the collaborative environment needed to replicate that success across energy and other sectors, delivering innovation and impact at scale.”
Why This Matters
The UK is uniquely positioned to lead the next wave of digital innovation. Just last week, Nvidia CEO Jensen Huang described the UK’s “Goldilocks position” — with a world-class research base, strong regulation, and deep technical expertise.
With the Smart Data Group now in place, the UK has the tools, talent, and momentum to lead the global smart data movement.
Closing Thoughts
The launch of the Smart Data Group marks a pivotal moment for the UK’s data economy. By bringing together expertise from across sectors and aligning with government policy, this initiative has the potential to replicate — and even exceed — the success of open banking.
At Ozone API, we’re proud to support this movement and play our part in building a more connected, competitive, and consumer-centric digital landscape. We believe that smart, secure, interoperable data-sharing frameworks are not just the future — they’re the foundation of a thriving digital economy.
As we move forward, collaboration will be key. Whether you’re in finance or other industries now is the time to engage, experiment, and shape the smart data ecosystem together.
👉 If you’re interested in working with us or learning more about how smart data can transform your sector, get in touch — we’d love to talk.
