UK AI Growth Figure of £400bn Came From a Google Report, Minister Says

UK AI growth figure of £400bn came from a Google report, minister says

The UK government now expects AI to add £55bn to £140bn to the economy by 2030. Its central estimate is £120bn. Its AI Opportunities Action Plan put the gain at £400bn, and AI minister Kanishka Narayan has now confirmed that Google commissioned the report behind that number. Narayan gave both figures in a written parliamentary […] This story continues at The Next Web

UK Officials Said AI Would Add £400 Billion to the Economy. That Figure Mainly Came From Google

The AI minister now concedes the estimated figure is less than a third of that. Researchers blame the country’s slow rate of adoption.

Wider AI Adoption Could Boost GDP by 10%   - British Chambers of Commerce

Widespread AI adoption across the economy could push UK GDP more than 10% higher by 2031, according to new analysis for the British Chambers of Commerce (BCC).  In last week’s Budget, the Chancellor announced over £700m in AI-related investment, mainly for infrastructure and security. But a new BCC book calls for the government to go […]

AI Could Add £400 Billion to the UK Economy, British Officials Say—Estimate Draws Mainly on Google Data

The UK government has promoted a potential £400bn economic boost from artificial intelligence for two years, but its AI minister has acknowledged that the figure was substantially higher than the government’s own latest estimates. The £400bn projection came from a 2023 report commissioned by Google, while the government’s more recent assessment puts the potential contribution [...]