Recently, consulting firm Accenture released a new research report, indicating that the potential of the UK in generative artificial intelligence (AI) far exceeds that of other developed countries. The report shows that if this technology is utilized effectively, the UK's economic growth could nearly double.
Image source note: The image was generated by AI, provided by the image licensing service Midjourney
The report emphasizes that the greatest opportunity for generative AI lies in enhancing productivity, especially in the public sector. For example, doctors could save up to five working hours per week, and commercial sales representatives could potentially reduce their working hours by up to 12 hours. By analyzing tens of thousands of detailed tasks, Accenture estimates the time savings through automation and technology-assisted human work, and then predicts the impact on GDP.
According to Accenture's forecast, from 2023 to 2038, the UK's annual average GDP growth could increase from 1.6% to 3%. This change would make the UK the largest economic beneficiary among the G7 countries. Accenture also points out in its analysis that while generative AI technology itself has great potential, its effectiveness depends on how it is applied to human work. The report calls on organizations to take a proactive attitude, seizing this transformative opportunity rather than having a short-sighted perspective.
The report mentions that generative AI is a more advanced form of automation that can create new things based on large amounts of data. To maximize its value, the technology should be people-centric, automating routine tasks so that employees can free up time to engage in work that requires human qualities, such as innovation.
It is worth noting that shortly after the release of this research report, the UK government also announced that four American companies plan to invest £6.3 billion in the UK for the construction of data center infrastructure. This investment is expected to support the growing global demand for computing power and provide support for the development of AI. Technology Minister Peter Kyle called this move a "vote of confidence" in the UK.
Key Points:
1️⃣ The UK's generative AI potential is considered the largest among G7 countries, expected to significantly enhance economic growth.
2️⃣ Research shows that generative AI can help professionals such as doctors and sales representatives save a significant amount of working time.
3️⃣ The UK government recently announced attracting US companies to invest £6.3 billion, further promoting the application and development of AI technology.
