Small probabilities add up: how Ofgem’s symmetry incentives could penalise National Grid’s forecasting models By Dr Rachael Warrington and Dr Jakob Blaavand

Incentives help ensure that National Grid manage the high-voltage electricity transmission network in England and Wales efficiently, but how do you make sure that the incentives reward the right behaviour?  The idea behind incentives is that, with the right behaviour, you get paid a reward, but with the wrong behaviour, you have to pay a […]

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Harnessing mathematics to boost innovation By Holly Gurr

Successful innovation relies on creative thinking coupled to the infrastructure and mechanisms that translate this thinking into commercial reality.  Nowhere are the possibilities more exciting than in the harnessing of mathematics, and this is the space in which the Smith Institute operates. Which opportunities can we help you to realise? Our new brochure gives an […]

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A Taxing Question By Dr Robert Leese

How does the Government currently attempt to boost the UK’s investment in Research and Development? One key policy has been the availability since 2000 of R&D tax credits to UK companies, which help to reduce the cost of investing in research. Unfortunately, the R&D tax credit system is no longer in step with the needs of the modern economy, in large part because of its inequitable treatment of mathematics.

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How to build a topic-based search engine By Georg Maierhofer

Retrieving relevant information from a large collection of data, for instance using a search engine, is a difficult task. On the one hand we want to be able to use the efficiency of computers to obtain results quickly, on the other hand we would like search results to be as relevant as possible. The discipline Topic modelling can be used to address this problem...

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An Insight to the Smith Institute, 2015 By Judy Reynolds

Did you know that our founder, Dr Bruce Smith CBE, was working at Bellcom Inc in Washington D.C. in 1965 in a team selecting the landing site for the first manned moon mission, when he got the idea to create a system engineering company back in the U.K. We now work across ten sectors including aerospace, defence, security, telecommunications, energy and environmental risk, and most of our projects use mathematical models, interrogation of large sets of data and algorithms.

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