Question to the Department for Science, Innovation & Technology:
To ask His Majesty's Government what assessment they have made of the need to invest in emerging artificial intelligence technologies to help boost productivity in the UK.
The International Monetary Fund (IMF) estimates that while the exact economic impact hinges on the wider development and adoption of AI, the UK could see productivity gains of up to 1.5 percent annually. By investing in AI now, we’re ensuring that the UK is prepared to harness its transformative potential.
To encourage widespread adoption, we are targeting high-growth Industrial Strategy sectors and supporting diffusion across the whole economy by appointing AI Sector champions. The Technology Adoption Review will also set out recommendations for how government should work with industry to support businesses to adopt AI.
This builds on Innovate UK's £100 million BridgeAI programme, which has so far provided £68 million in funding to nearly 800 businesses to boost AI-enabled productivity.