Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she assumes increased productivity from AI adoption in her economic modelling.

The government is taking steps to consolidate the UK’s position at the forefront of artificial intelligence (AI), such as funding to enable a twentyfold expansion of the UK’s AI Research Resource and creating AI Growth Zones to accelerate the construction of cutting-edge AI infrastructure. With a growing evidence base pointing to the potential productivity benefits of AI, the UK is well placed to harness its potential across both the public and private sectors.

The Office for Budget Responsibility (OBR) is responsible for assessing the UK’s economic and fiscal outlook. In its July 25 Fiscal Risks and Sustainability (FRS) report, the OBR noted the rapid development and dissemination of artificial intelligence could be one driver of upside risk to future productivity growth, although the magnitude and timing of the possible boost to productivity remains highly uncertain.