Written by Isabelle Saunders, Girl Economics Technology Reporter

This brief summary highlights the importance of investments in technological advances in Artificial Intelligence, published by Amazon! The article explores in depth the uptake in AI and the benefits achieved from doing so.

Amazon argues to accelerated adoption of AI, digital tech can add £520b to the economy. Companies who have invested in AI have seen a 31% growth, presenting the economy with boosting opportunities in areas with low digital adoption such as Wales and Southwest London.

The published report states that research however shows that many individual and organisations are not equipped with the skills required for this advance in Ai, due to the technology skills gap (which costs the UK economy £63 billion a year in lost GDP potential), which businesses aim to correct through investing in digital skills training.

2023 was the breakout for AI uptake, over 70% of businesses already using AI achieved growth and drove innovation, increasing automation and efficiency. This increase in investment boosts the economy through the increase in aggregate demand.

Digital technology is set to become the powerhouse for the Uks’ economic growth, which depends on if the Uk maintains growth in AI adoption. his means the economy should focus on tackling barriers which prevent the level of potential growth.

To find out more, read the following https://www.aboutamazon.co.uk/news/aws/uk-digital-technology-report-2024