UK firms at risk of revenue loss without AI

UK companies that are too slow to adopt artificial intelligence technology are at risk of losing 20% of their cash flow, according to McKinsey Global Institute. New figures released by consultancy firm's research arm claimed that the UK's economy could be boosted 22% by AI alone on the next decade, with fast-moving businesses potentially growing 120% if they invest in AI tools. It 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. Google's DeepMind AI division was cited at an example of these innovation pockets, with McKinsey suggested that companies can replicate by achieving growth through AI by offering it at scale, investing in talent and forging links between cutting-edge research and commercial success.