With Artificial Intelligence, UK economy could see an extra £630 billion

New research suggests that the UK could benefit from £630 billion, if Artificial Intelligence (AI) is supported and backed by the Government.

The report, which was published earlier this month, highlighted steps which the Government can take to work with the industry to enhance the UK’s position in AI.

It has been suggested that to achieve the optimum benefits of AI, the Government should focus on developing worker skills by introducing new education initiatives, increasing uptake by supporting organisations with the implementation of AI processes which can in turn boost productivity and taking measures to ensure data is managed efficiently and used effectively.

It is also important that the UK continues to build upon the established AI research, as this will help the country to remain a world leader in technology.

Jérôme Pesenti, chief executive of BenevolentTech, said: “By following these recommendations, Government, academia and industry can help strengthen the UK’s position in the global AI market.

“Our proposals are deliberately specific and boil down to three fundamentals – enable better access to data, create a greater supply of AI skills and promote the uptake of AI.”

Prof Dame Wendy Hall added: “Now is the time for us all – scientists, researchers, entrepreneurs and the Government – to come together and address the issues about how AI is going to impact society and seek ways to ensure that we’re able to deliver the great breakthroughs the technology has the potential to deliver.”

According to the findings, a number of sectors including automotive, health and education, could benefit from AI.

Further discussions between business leaders and the Government will now take place to discuss these recommendations and develop implementation strategies.