Research: AI is a 'welcome boost' that could add millions to GDP

New research from McKinsey and Quantumblack suggests UK businesses adopting AI could see their value increase by 120 percent within a decade. AI overall could provide a 22 percent GDP boost worth millions to the UK economy, according to the research. However, the report warns that firms which do not integrate AI into their day-to-day business risk around 20 percent of their cash flow today. "By 2030, the average simulation shows that some 70 percent of companies might have adopted at least one type of AI technology but that less than half will have fully absorbed the five categories [computer vision, natural language, virtual assistants, robotic process automation, and advanced machine learning]." The UK is well-positioned to take advantage of AI and is the highest ranking country in Europe on McKinsey Global Institute's AI Readiness Index.