UK companies that adopt AI late or not at all could lose 20pc cash flow, McKinsey report warns

British companies that fail to invest in artificial intelligence soon are at risk of losing 20pc of their cash flow, McKinsey has warned. New figures claim that AI could boost the UK economy by 22pc in the next decade by making companies more productive, and fast-moving businesses could stand to grow in value by 120pc if they invest in AI tools. A new report produced by the consultancy's business and economics research arm McKinsey Global Institute has claimed the UK is "potentially more AI-ready compared with the global average", but could miss out on the opportunity if investment does not occur. "The United Kingdom has impressive pockets of innovation but is failing to scale to business more broadly," the report stated. It cited DeepMind, which was bought by Google for £306m in 2014, and Magic Pony, which was taken over by Twitter in a £102m deal in 2016, as examples of these pockets.