Artificial Intelligence: Economic Growth
The question
To ask the Secretary of State for Science, Innovation and Technology, what assessment she has made of the potential impact of artificial intelligence on economic growth over the next decade.
Answered by Kanishka Narayan
The OECD estimates that AI adoption could add 0.4 to 1.3 percentage points to the UK’s productivity growth. These estimates are highly uncertain, but this would be the equivalent of adding £55-140 billion to UK GVA in 2030.
As well as this, since the present government came to power, international firms have pledged to invest over £90 billion into the UK AI Sector.
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