Productivity soars in sectors of global economy most exposed to AI, says report

The sectors of the global economy most heavily exposed to artificial intelligence (AI) are witnessing a marked productivity increase and command a significant wage premium, according to a report. Boosting hopes that AI might help lift the global economy out of a 15-year, low-growth trough, a PwC study found productivity growth was almost five times as rapid in parts of the economy where AI penetration was highest than in less exposed sectors. PwC said that in the UK, one of the 15 countries covered by the report, job postings that require AI skills were growing 3.6 times faster relative to all job listings. On average, UK employers were willing to pay a 14% wage premium for jobs that require AI skills, with the legal and information technology sectors experiencing the highest premiums. The uptick in productivity in sectors more exposed to AI – such as financial services, information technology, and professional services – was marginally higher in the UK than the global average.