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To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will make an estimate of the potential contribution of machine learning to UK GDP by 2020.
To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will make an estimate of the potential contribution of machine learning to UK GDP by 2020.
Machine Learning is a significant technology within Artificial Intelligence (AI) more broadly.
One estimate published by PWC in 2017 proposed that AI could add £232bn to the UK economy by 2030 [1]. Analysis by Accenture predicts that AI alone could add an Additional £630bn to the economy by 2035 increasing the annual growth rate of GVA from 2.5 to 3.9% [2].
The Industrial Strategy sets Grand Challenges to put the UK in the vanguard of the industries of the future, ensuring that the UK takes advantage of major global changes, improving people’s lives and the country’s productivity. First among these is the AI and Data-driven Economy Grand Challenge.