Britain’s economy is showing the clearest signs yet that it is benefitting from the global artificial intelligence boom, with data on Thursday showing rapid growth in related industries and a surge in computer hardware investment.
AI Impact on the Economy
The Office for National Statistics said Britain’s economy grew by 0.4% in the second quarter, with the information and communications sector contributing almost half of that expansion — more than any other industry. Within the sector, the output of computer programming, consultancy and related activities — which would include AI companies — surged by 3.7% on the quarter, on top of a 3.8% rise in the previous quarter.
British manufacturers are also benefitting, with output across British computing, electronic and optical product manufacturers growing by 10.7% in annual terms in the second quarter — ranking top among the 13 manufacturing sub-sectors for the first time since early 2017.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
