International Monetary Fund Reports Artificial Intelligence Role In Boosting UK Economy

By Shubhendra Anand , 02 May, 2024

Artificial intelligence is growing exponentially in today’s world. It is used in different applications ranging from tech to healthcare. Artificial intelligence can transform the efficiency of work in every sector if used wisely. International Monetary Fund (IMF) reports that artificial intelligence has the power to boost the economy of the United Kingdom by 16 percent in the next ten years from 2024. The survey conducted by IMF in 2204 reveals this result recently.

The United Kingdom has been a victim of slow growth and heavy national debt in the last twelve months, from 2204. However, the IMF suggests artificial intelligence can be responsible for improving the economic condition of the country in 2024. International Monetary Fund studied the survey reports on how artificial intelligence is responsible for the growth of the United Kingdom. Therefore, IMF reports show that the United Kingdom’s economy can grow by 16 percent or more. The production and sales in the country can enhance the growth rate of the size of the United Kingdom’s economy in 2024.

According to experts, artificial intelligence is an important factor in the services sector. Therefore, the United Kingdom is expected to experience most of the benefits from artificial intelligence in the services sector. This is due to most of the economic activities of the United Kingdom occurring in the service sector. Therefore, the primary focus of the United Kingdom in 2024 is to ensure that all the sectors in the industrial market adopt artificial intelligence to enhance the economic conditions of the technology. The technology sector can yield profit by incorporating artificial intelligence in their core work. Therefore, studies in 2024 have shown that artificial intelligence can be a pivotal factor in altering the economy of the United Kingdom.