UK Officials Said AI Would Add £400 Billion to the Economy. That Figure Mainly Came From Google

But the UK AI minister admitted last week that figure was significantly higher than the government’s actual projections after it was revealed that assessment came solely from a report commissioned by Google, and that its own estimation of AI’s economic benefit was less than a third of that £400 billion figure.n

AI minister Kanishka Narayan, answering a parliamentary question on the issue, said that AI adoption and data investment could add £55 billion to £140 billion to the UK economy by 2030, bringing the central estimate to £120 billion. But even this “more recent assessment,” he said, was a “hugely uncertain” estimate.